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Property Market News
Anuj
Sydney
New Domain data has revealed that Sydney’s auction market is soaring, with records being broken across the board.
Namely, the median price for a house at auction in Sydney has hit a record-high $1.68 million, while the clearance rate is poised to surpass levels not seen since 2015.
According to Domain’s data, the auction frenzy is a direct result of record-breaking house price rises in Sydney towards the end of 2020. “We’ve had a robust month for the auction market, we’re seeing strong results,” Dr Powell said.
“So far, the median auction price is looking set to be a record, and the clearance rate is looking to be a record.” The median price in February to date sits at $942,750 – $7,750 less than the this time last year.
As such, Dr Powell cautioned that the market on the whole was not out of the woods yet.
“There are still headwind risks, we’re not fully off fiscal supports, we aren’t fully vaccinated and borders are still closed,” Dr Powell said. Get details at: x
Sydney’s median auction house price hits $1.68m ...
Homes in Sydney are selling more than $1 million above the reserve, with the preliminary clearance rate hitting new heights, new research has revealed.
www.smartpropertyinvestment.com.au
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7 Views
2D ago
Justprop Team member
Sydney
Killarney Vale, along with nearby Blue Bay and Toowoon Bay, have been attracting high levels of buyer activity during the first months of 2021, Raine & Horne’s principal, Paul Denny, said in a statement.
From six groups at a weekend inspection last February, open homes now draw in up to 50 groups with many travelling to the region from Sydney’s north and north-west, Mr Denny said. “Better still, they could buy a decent family home close to excellent infrastructure rather than be stuck living in a pokey Sydney apartment,” the principal commented.
But the Coast’s “burgeoning” cafe culture is also drawing Sydneysiders, with Long Jetty’s bohemian restaurant café precinct on The Entrance Road said to bear remarkable similarities with Inner-city Newtown in the 1980s and 1990s.
Apart from the area’s appealing lifestyle, improved infrastructure such as the new North Connex and the West Connex also ease connectivity to major city centres. Continue reading at: x
Central Coast’s 2261 postcode swarmed by Sydney ...
Sydney buyers have been flocking to one of NSW’s “best-kept secrets”, the Central Coast’s 2261 postcode region, a real estate brand revealed.
www.smartpropertyinvestment.com.au
0 Reply
4 Views
2D ago
Anuj
Sydney
The steady stream of people moving from Sydney to regional areas including the likes of the Illawarra, the Southern Highlands, the Central Coastal and the Hunter Valley, or even further to southeast Queensland, isn’t going to stop.
And importantly now it appears that investors are beginning to be attracted back into these markets given their cheaper investment options. This interest in regional Australia is not waning, the realestate.com.au chief economist Nerida Conisbee advised this week.
Search activity has been particularly strong along the NSW coast from the Central Coast, Newcastle and all the way up to the Sunshine Coast.
The major side effect has been price growth has been far higher in these regional areas compared to the capital. Interestingly in Sydney it has been beaches and outer suburban areas that have been the top performers. Continue reading at: x
Investors to target regional areas as people look ...
The steady stream of people moving from Sydney to regional areas isn’t going to stop anytime soon, and investors are back in the market.
www.realestate.com.au
0 Reply
6 Views
3D ago
Joshua
Price
Suburbs in regional New South Wales rose as the best-performing regional markets in terms of price gains, according to the latest report from CoreLogic.
Richmond-Tweed claimed the top spot for houses after it recorded a 12.6% growth in median value in January. Houses in this region have a median value of $696,394. In terms of units, Southern Highlands and Shoalhaven performed the best. Units in the suburb have a median price of $484,642, representing a 17.9% annual increase.
Unit sales in the suburb rose by 34.6% while selling days shrank from 87 days to 60 days.
Tim Lawless, executive director for research at CoreLogic, said the level at which prices in regional markets increased was four times higher than that of capital cities.
"Demand for regional housing can be attributed to a range of factors. Generally, prices are cheaper than their capital city counterparts, housing densities are typically lower, which is likely to be appealing amidst a global pandemic, and many workers have a new found appreciation and ability to work remotely which is supporting additional demand," he said. Continue reading at: x
Regional NSW suburbs outperform peers
These suburbs reported the strongest median-price gains for houses and units
www.yourinvestmentpropertymag.com.au
0 Reply
6 Views
5D ago
Anuj
Sydney
Homebuyers have been camping outside development offices in Western Sydney for up to two days to be front of the queue at new land releases.
It comes as Sydney buyers continue to grapple with a decline in available properties and an acute shortage of shovel-ready land for building new houses. All but two of the available lots in the new Hampton Court release were sold out on the day.
The lots ranged in size from 312 sqm to 637 sqm, with a price tag from $400,000 to $620,000.
Terry Goldacre, the managing director of Harrington Estates, the developer of Catherine Park Estate, said demand for quality land was high. Suburbs in the region such as St Johns Park, Abbotsbury and Wakeley had less than five listings in December, despite all being heavily populated areas with more than 1000 dwellings. Source: x
Homebuyers camp out in western Sydney for up to tw...
Desperate homebuyers have been camping outside development offices in Western Sydney for up to two days to be front of the queue at new land releases.
www.realestate.com.au
0 Reply
10 Views
5D ago
James
Sydney
CoreLogic has released its final auction report for last weekend, which recorded a final clearance rate of 77.1%, down from the previous week’s 6-year high of 79.3%: The results across Sydney and Melbourne are still pointing to rising price growth, based on past correlations: Source: x
Final auction clearance rate retraces from 6-year ...
CoreLogic has released its final auction report for last weekend, which recorded a final clearance rate of 77.1%, down from the previous week’s 6-year high of 79.3%:
www.macrobusiness.com.au
0 Reply
8 Views
10D ago
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