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James
Federal
Approvals for private-sector houses increased by 15.1% in February, which translated to 13,939 homes. Over the year, approvals for the construction of new homes were up by 57.5%.
"This is the highest level on record since the ABS began the series in 1983 and exceeds the previous record in December last year," said Michael Sukkar, minister for housing. Despite the COVID-19 pandemic, new home sales increased by 32.5% over the past year. Activity from first-home buyers increased the past year, comprising 50% of overall activity in the housing market.
Based on the federal government's estimates, the HomeBuilder scheme is expected to support up to $18bn worth of residential construction projects. Source: x
HomeBuilder pushes approvals to new heights
The positive impacts of HomeBuilder are also apparent in other key housing metrics
www.yourinvestmentpropertymag.com.au
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18Hr ago
InvestAus
Sydney
Bidders splashed out with price offers hundreds of thousands of dollars above reserve as Sydney’s auction market continued to be a pressure cooker for home buyers. There were close to 680 auctions this weekend and preliminary indicators showed the majority sold successfully under the hammer, despite sellers cranking up their reserves.
Among the standout sales was a three-bedroom house in Kensington that had last traded in 1992 for just under $69,000, CoreLogic records showed. It resold under the hammer for $3.35 million in front of a crowd of about 60 people spread across the pavement and road. The price for the Doncaster Ave home was $435,000 above the $2.9 million reserve. House hunters in the local area were willing to go well above prices paid only a few months ago because they saw suburbs such as Kensington, Kingsford and Randwick as “safe” investments, Mr Wise added. Get details at: x
Home prices continue to smash reserves as Sydney a...
Frantic bidding returned to auctions this weekend, with one agent revealing she was “shaking her head in disbelief” at the prices people were paying, while sellers scored huge windfalls.
www.realestate.com.au
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18Hr ago
Karan
Royal
Sam2018
Harsha
Anjali
Anuj
Sydney
Inventory levels in the ACT are sitting at 1.3 per cent, pushing median house prices above $1 million. Given the nation’s capital is burgeoning at a quicker pace than expected, The Property Nerds are confident the ACT will pip Sydney for prices in under 18 months.
“Sydney is tight at 2.32 per cent for houses, but the ACT at 1.3 per cent is extraordinary. It’s obviously a frenzy,” Mr Lardner noted.
The number of people touring open homes in the ACT has also risen to unprecedented levels, with the inner suburbs said to be garnering the most attention. Recent CoreLogic data has confirmed The Property Nerds’ predictions, with auction markets across Australia’s capital said to have hit their highest preliminary clearance rate of 93.8 per cent of the 48 reported auctions selling under the hammer over the Easter weekend. Source: x
Why Canberra could shortly pip Sydney for prices
The Property Nerds are confident the ACT has the potential to pip Sydney for prices within the next 12 to 18 months.
www.smartpropertyinvestment.com.au
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2D ago
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