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Hobart
Almost nine out of 10 property resales over the September 2019 quarter sold for more than their previous price, delivering a gross profit of $18.7 billion for resellers across Australia. The latest CoreLogic Pain and Gain report showed overall 87.4 per cent of property sold above its previous price, and reveals a slight increase in. The latest CoreLogic Pain and Gain report showed overall 87.4 per cent of property sold above its previous price, and reveals a slight increase in profitable resales (0.1 per cent) compared to the previous quarter, while gross profits increased by $2.4bn over the same period (resales totalled $16.3bn in June 2019).CoreLogic head of residential research Eliza Owen said overall, Hobart sellers were most likely to experience gains with 98.1 per cent of properties selling for a profit over the three months to September 2019. “Hobart has experienced particularly large capital gains over the past five years and this has translated into exceptionally strong results for resellers of both houses and apartments during the past quarter,” Ms Owen said.A high proportion of resales in regional Victoria (96.6 per cent) and regional Tasmania (96.4 per cent) also delivered positive returns for sellers. The strong housing market in Hobart and regional Tasmania has also helped investor owners, who are more likely to sell at a loss than owner-occupiers, to buck the trend and enjoy greater gains than in these regions. “Over the September 2019 quarter, 98.8 per cent of investment properties resold in Hobart were profitable compared to 98.0 per cent of owner-occupied dwellings.”Nationally, 88.9 per cent of owner-occupied properties resold for a profit compared to 83.4 per cent of investor-owner properties. Overall, house resellers were more likely than unit sellers to experience gains. Nine in ten (90 per cent) houses across Australia sold for more than their previous purchase price compared to 80.2 per cent of apartments. Across the capital cities, the median hold periods for profitable house sales were highest in Perth (13.1 years) and Darwin (13.5 years) and lowest in Hobart (9.2 years) and Sydney (9.5 years). Key findings for September 2019 quarter – national 87.4 per cent of properties across the nation sold for a profit in the September 2019 quarter. Across the combined capital and regional markets, a higher proportion of houses (90 per cent) resold at a profit than units (80.2 per cent).Hobart leads the market with 98.1 per cent of homes resold turning a gross profit, followed by regional Victoria (96.6 per cent) and regional Tasmania (96.4 per cent).Hobart also recorded the highest gains for both houses and apartments with 98 per cent of house resales and 98.5 per cent of apartment resales profitable. Regional Victoria and the ACT delivered the strongest results for house resellers with 96.9 per cent of houses in these areas reselling for a profit. The greatest gains for apartment resellers were across the rest of Tasmania (96.3 per cent) and the rest of Victoria (94.2 per cent).The greatest losses for houses were recorded in Regional WA and Darwin, where 41 per cent and 39 per cent sold at a loss, followed by Perth (32.9 per cent). For units, the greatest pain was in regional WA and Darwin, where 63.7 per cent and 61.8 per cent of apartment resales were at a loss respectively.Nationally, investors were more likely to resell at a loss compared to owner-occupiers. 11.1 per cent of owner-occupied properties in Australia resold at a loss compared to 16.6 per cent of investment properties.Throughout the combined capitals, 11.1 per cent of owner-occupiers failed to resell their property for a profit compared to 17.2 per cent of investor-owned properties. The difference was greatest in Canberra, where 5.2 per cent of owner-occupied properties resold for a loss compared to 24.9 per cent of investment properties.Nationally, profitable resales were held for a median of 9.5 years while loss-making resales had a median hold period of 6.0 years. Key findings – regional Across the major coastal markets, Geelong reported the highest proportion of profit-making resales over the September 2019 quarter (98.8 per cent). Resale losses were the greatest in Bunbury (37.5 per cent) and Cairns (23.3 per cent).In the non-coastal regions, the highest proportion of profit-making resales were in Ballarat (98.6 per cent) and Bendigo (96.8 per cent) while the highest proportion of loss-making resales were in Queensland’s Toowoomba region (12.7 per cent) and the New England & North West region of New South Wales (11.5 per cent). Sydney Resale In Sydney, 90.2 per cent of dwelling resales were profitable over the September quarter. This was up from 89.1 per cent in the June quarter but down from 94.5 per cent a year ago.Mosman resellers experienced the highest gains with 98.6 per cent of all homes resold at a gross profit. This was followed by Waverley (96.3 per cent) and Hunters Hill (95.5 per cent).The lowest proportion of profit-making resales was recorded in Parramatta where 81.5 per cent of all resales turned a profit, followed by Canterbury-Bankstown (81.7 per cent) and Strathfield (83.7 per cent). Melbourne Resale 93.0 per cent of Melbourne properties resold for a gross profit over the September quarter. This is up from 92.2 per cent in the June quarter but down from 95.2 per cent a year ago.Macedon Ranges recorded the highest proportion of profit making resales with 100 per cent of all homes resold incurring a gross profit, followed by Moorabool (98.9 per cent) and Melton (98.3 per cent).The lowest proportion of profit-making resales was in the Melbourne council area (67.1 per cent). Next were Stonnington (79.1 per cent) and Port Phillip (84.5%). Brisbane Resale 87.9 per cent of Brisbane resales recorded a gross profit over the September quarter, up from 87.2 per cent over the June quarter. This was down from 90.8 per cent over the same period last year.Only 63.5 per cent of unit resales made a gross profit over the quarter compared to 94.6 per cent of houses.The Scenic Rim experienced the greatest gains, with 93.6 per cent of properties reselling at a gross profit. The next most profitable areas were Moreton Bay (90.8 per cent) and Redland (90.4 per cent).The lowest proportion of profit-making resales was recorded across the Lockyer Valley council, with 82.9 per cent of resales turning a gross profit, followed by Brisbane council area (86.1 per cent) and Somerset (87.5 per cent). Adelaide Resale 89.2 per cent of resales across Adelaide were sold for a gross profit over the September quarter, down from 91.8 per cent over the June quarter.92.4 per cent of Adelaide house resales sold for a profit and 76.4 per cent of unit resales were profitable.The highest proportion of profit making resales was recorded in the Adelaide Hills (96.6 per cent of dwellings were profitable), followed by Mitcham (94.3 per cent).Adelaide council area had the lowest proportion of profit making resales with 70.2 per cent of dwellings resold at a gross profit. Perth Resale 63.6 per cent of Perth dwelling resales turned a gross profit over the September quarter (up from 63.3 per cent in June). A year ago, 68.8 per cent of homes in Perth resold at a gross profit.67.1 per cent of houses were resold at a profit compared with 48.0 per cent of units.81.8 per cent of resales turned a profit in Claremont, followed by Cottesloe (81.3%).The lowest proportion of profit making resales were recorded in Perth council area (32.3 per cent) followed by Belmont (52.8 per cent) and Mandurah (56.7 per cent). Hobart Resale Hobart had the highest proportion of profitable resales, with 98.1 per cent of all resales over the September quarter recording a gross profit.Three areas recorded 100 per cent of resales at a gross profit: Brighton, Derwent Valley and Glenorchy. The lowest proportion of profit-making resales was in Hobart council, where 95.7 per cent of properties resold at a gross profit. Darwin Resale Profit-making resales in Darwin tracked at 51.7 per cent over the September quarter (up from 50.4 per cent of resales in June). Canberra Resale In Canberra, 89.3 per cent of properties sold for more than their original purchase price in the September quarter 2019.78.9 per cent of resales recorded a gross profit compared with 96.9 per cent of house sales. source: EliteAgentx Hobart leads the way as resale prices on the rise Almost nine out of 10 property resales over the September 2019 quarter sold for more than their previous price, delivering a gross profit of $18.7 billion for resellers across Australia. The latest Co... eliteagent.com
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Melbourne
Peace of mind is essentially assured for homeowners in the Macedon Ranges, Moorabool, Melton and Wyndham, with new research identifying the fringe regions as Melbourne’s most bulletproof markets. Not one seller lost a cent on a house or unit deal in a region on Melbourne’s fringe for most of last year, and vendors in several other areas also made stellar profits. See our bulletproof suburbs. This was the case for the previous two quarters as well.Vendors in Moorabool, Melton and Wyndham enjoyed almost flawless profitmaking rates above 98 per cent in the September quarter, and those in Casey, the Mornington Peninsula, Frankston, Cardinia, Banyule and Hobsons Bay, above 97 per cent. Across greater Melbourne, 93 per cent of homes sold in the period for more than their owners originally paid.This was up from 92.2 per cent in the previous quarter, but down from 95.2 per cent a year prior. Sellers in the Casey region remarkably earned the biggest total profit by value in the September quarter: a combined $621.23 million. Those in blue-chip Boroondara made the highest median profit of $571,500 per sale. A “weak performance of unit resales” made the CBD Melbourne’s least profitable market. Almost 33 per cent of homes sold for less than the vendors paid for them, equating to a total loss of $69.85 million. Citywide, CoreLogic found Melbourne houses had a higher profitmaking rate that units, at 96.6 per cent versus 85 per cent. BULLETPROOF SUBURBS Macedon Ranges: 100% of sales made a profit / $380,000 median profit / $71.55m total value of profit.Moorabool: 98.9% / $219,500 / $54.1mMelton: 98.3% / $225,000 / $267.33mWyndham: 98.2% / $291,450 / $456.89mCasey: 97.4% / $288,500 / $621.23mMornington Peninsula: 97.4% / $321,000 / $597.86mFrankston: 97.4% / $244,000 / $327.43mCardinia: 97.4% / $235,000 / $218.33mBanyule: 97.3% / $393,500 / $253.65mHobsons Bay: 97% / $282,000 / $189.98m Source:x Bulletproof suburbs where sellers are making bank Peace of mind is essentially assured for homeowners in the Macedon Ranges, Moorabool, Melton and Wyndham, with new research identifying the fringe regions as Melbourne’s most bulletproof markets. www.news.com.au
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InvestAus

InvestAus

The only way is up for Melbourne real estate this year, according to pundits forecasting continued price growth for 2020. NORTH  Craigieburn: Real Estate Institute of Victoria president Leah Calnan said first-home buyers would find both houses ($540,000 median) and units ($379,900) achievable in this “growing suburb with reliable transport”. Coburg North/Pascoe Vale: Access to Merri Creek, decent-sized blocks and an affordable $631,000 unit median ensured Coburg North’s appeal, Nelson Alexander Coburg partner Steven Shaw said. Pascoe Vale ($625,000) was also a good bet. Donnybrook/Kalkallo: These fringe suburbs were well connected via the Hume Freeway and Donnybrook train station, and serviced by Epping Plaza and Craigieburn Central, KR Peters director Peter Nicolls said. Donnybrook is flush with new housing and land estates, while Kalkallo has a $580,000 house median. Flemington/Kensington/Travancore: Easy access to the city, “plenty of shops, restaurants and cafes”, and Flemington Racecourse were among this trio’s selling points, Ms Calnan said. Their unit markets offered affordable medians ranging from $355,000 to $583,750. Oak Park: Brad Teal Real Estate director Brad Teal said Oak Park ($612,000 unit median) offered “good land sizes, a bike track into the city, a good choice of primary schools, a train station and freeway access”. Units in boutique ‘70s and ‘80s blocks made ideal entry points. SOUTH Cranbourne West: This southeastern suburb had “access to several schools, Sandhurst Shopping Centre, and Merinda Park and Cranbourne train stations”, Ms Calnan said. The median house price is an affordable $565,000. Clyde North: Mr Nicolls said “value for money” was at a premium in this suburb, with first-home buyers able to secure 460sq m house and land packages from $560,000. “With myriad amenities already nearby, easy access to major roadways and new schools and parks, this suburb will only continue to thrive,” he said. Dandenong: “Great views, plenty of shops and two train lines” should put Dandenong on first-timers’ radars, according to Ms Calnan. It also offers affordable homes, at a $634,000 median for houses and $285,000 for units. Frankston North: A more affordable option ($430,000 house median) than neighbouring Frankston, this suburb offers similar lifestyle perks. “It’s close to the sea and still close to the train line,” Ms Calnan said. Windsor: First-home buyers who score units or apartments ($487,500 median) in this inner suburb will benefit from being close to the CBD and the “famous Chapel St shopping strip”, according to Ms Calnan. EAST Bayswater/Bayswater North: Affordable median unit prices of $650,000 and $514,995 respectively were on offer in these suburbs with a “plethora of shops and access to EastLink”, Ms Calnan said. Boronia: Buyers can choose from a “mix of townhouses, apartments and established homes” in this outer suburb, according to Mr Nicolls. It had been boosted by the train station’s “major rejuvenation”, but homes remained affordable, with medians of $730,000 for houses and $591,000 for units. Bulleen: Bordering prestige Balwyn North and Ivanhoe ensured Bulleen had stellar growth potential, Barry Plant Doncaster East’s Spiro Drossos said, but its unit market remained affordable ($550,000 median). Hawthorn: This suburb oozed lifestyle perks, Ms Calnan said, being home to “many bars, restaurants, cafes and shops”. Its unit market is achievable for first timers, with a $600,000 median. Yarra Junction: For those who don’t mind a longer commute, Yarra Junction is an “affordable country community with beautiful landscapes, 55km from the CBD”, according to Ms Calnan. A median-priced house will set you back $582,340. WEST Maribyrnong: Access to the Maribyrnong River, and an easy commute to the CBD, are highlights of this inner northwest postcode, according to Ms Calnan. A typical unit there costs $530,000. Melton: This outer suburb’s $377,500 house median is among Melbourne’s cheapest. But Ms Calnan also highlighted Melton’s shopping centre, larger block sizes, and the fact it offered “a beautiful country lifestyle on its back step”. Spotswood: The “first suburb off the ramp leaving the CBD on the West Gate Bridge” offered absolute convenience and a “mix of Edwardian and Californian bungalow homes,” Mr Teal said. Werribee/Wyndham Vale: Affordability was No. 1 in these suburbs, Ms Calnan said, with a median-priced house worth $510,000 in Werribee and $472,000 in Wyndham Vale. Both are connected to Melbourne and Geelong via train. West Footscray: The unit market offers a handy entry point, with a $533,750 median, while the suburb boasts “easy access to the city and a growing economic hub”, according to Ms Calnan. Neighbouring Footscray and Kingsville are also good bets. x Melbourne suburbs where first-home buyers should l... The only way is up for Melbourne real estate this year, according to property pundits. This is where experts say first-timers should look in the north, south, east and western suburbs this year. www.realestate.com.au
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Prices set to surge by up 14% in the big cities this year - and it's bad news for young Australians Sydney's median house price is expected to surge by 12 per cent in 2020 as Melbourne's equivalent values climbed by 14 per cent. Real estate data group CoreLogic is also worried about the young.House prices in Australia's biggest cities are set to surge by more than $100,000 in 2020 - locking even more young people out of the property market. After a record plunge, Sydney and Melbourne real estate values are expected to rebound by double-digit figures next year. CoreLogic is predicting double-digit rises in Sydney, Melbourne house pricesThis would undo a record downturn that began in 2017 after loan rules tightenedProperty market recovery tipped to make it harder for young, first-home buyers  Double-digit increases were also expected in Canberra and Brisbane, with 10 per cent rises tipped for both of those cities.This would see median house prices rise by $68,780 and $54,399, respectively.  Adelaide prices were expected to increase by a more modest five per cent, or $23,464, as prices stayed flat in Darwin. A six per cent increase was also expected in Hobart, which until recently was Australia's strongest performing housing market.  Tasmanian capital house prices were tipped to increase by $30,550 next year. Get more detail herehttps://www.dailymail.co.uk/news/article-7828843/Your-house-worth-108-000-2020.htmlx House prices set to surge 14 per cent in 2020 lock... Sydney's median house price is expected to surge by 12 per cent in 2020 as Melbourne's equivalent values climbed by 14 per cent. Real estate data group CoreLogic is also worried about the young. www.dailymail.co.uk
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