First home buyers tips

The number of buyers actively looking increased at the back end of 2019, despite a lack of properties listed for sale. Data from Smartline on home loan lending revealed a strong growth in submissions as of the latter half of 2019, as well as a growing proportion of pre-approvals in the same period. This is a strong indicator that activity levels in the market are up but there is a backlog of buyers looking for a property to purchase. Details inside: x Property market update: Active buyers increase but... While the number of active buyers has increased substantially over the past year and the market is on the road to recovery, there is one area that continues to struggle. www.realestate.com.au

Home buyers and sellers have been warned to strap in: property prices are about to surge by six figure sums over just a 12-month period across three major city regions. House prices in pockets of the northern beaches, Sutherland Shire and eastern suburbs will balloon by more than $70,000 this year as Sydney braces for another property boom. New research revealed suburbs in these regions had the biggest imbalance between supply and demand and would get the fastest house price growth of any Sydney suburbs this year. It comes as the Commonwealth Bank’s monthly Household Spending Intentions Series released Tuesday revealed demand for housing hit a record high in December. TOP GROWTH SUBURBS (by price increase) Bangor 7.5% ($76,000) Heathcote 7.1% ($60,000) Davidson 7.1% ($103,000) Allambie Heights 7% ($98,000) Bronte 7% ($219,000) Collaroy Plateau 7% ($107,000) Paddington 6.8% ($145,000) Narraweena 6.8% ($93,000) Beacon Hill 6.8% ($88,000) North Epping 6.8% $85,000 Woronora Heights 6.8% ($73,000) Abbotsbury 6.8% ($53,000) Read more:x Where prices will rise by $200k this year House prices in pockets of the northern beaches, Sutherland Shire and eastern suburbs will balloon by more than $70,000 this year as Sydney braces for another property boom. www.news.com.au

Sydney has been named as one of three global cities with the best property growth potential in 2020 according to a new industry forecast, raising fresh concerns about housing affordability. Savills’ World Cities Prime Residential Index, released this month, takes 27 cities and calculates their expected price gains for the year ahead. On average, the listed locations are predicted to see prices increase by 1.8 per cent this year.Rise and fall of global prices The Harbour City, however, has been tipped to experience bumper growth compared to other locales with increases of between 6 per cent and 7.9 per cent this year. Sydney is not alone in the top spot with Lisbon in Portugal and Moscow in Russia also expected to experience equal growth. The reason behind the impressive real estate rise in the three cities is a combination of low interest rates and increased demand. Details inside:x Why housing affordability will get even worse Sydney has been named as one of three global cities with the best property growth potential in 2020 according to a new industry forecast, raising fresh concerns about housing affordability. www.news.com.au

Western Sydney suburbs such as Blacktown, Doonside and Lalor Park have been earmarked as prime locations for first-home buyers due to the amount and range of reasonably priced fixer-uppers on the market. The current median price for a three-bedroom home in Blacktown is $649,250 – putting property purchases in the local area well within range of the current first-home buyer scheme. Details inside:x Western Sydney suburbs ripe for first-home buyers ... Real estate experts have noted a number of western Sydney suburbs as great locations for first-home buyers to pick up a decent property with renovation potential. www.realestate.com.au

The Australian property market is back in full swing.The national housing market finished on a high note last year, with every capital city bar Darwin and Adelaide recording positive property value growth in 2019.But there’s one city that looks like it’s well and truly blossoming again, and it’s Sydney. According to Select Residential Property Research director of research Jeremy Sheppard, there are a handful of regions that will see eye-watering house price growth this year – but the Harbour City is home to all the areas that will see growth of more than $100,000. Why are Sydney house prices growing again? There are two reasons why Sydney’s property market is strengthening, Sheppard said: demand is still exceeding supply, and the prices are coming back from where they were during the downturn.Here’s a look at the Sydney suburbs where house prices will jump by more than $100,000: Bronte, Sydney NSW: +$219,000Paddington, Sydney NSW: +$145,000Collaroy Plateau, Sydney NSW: +$107,000Davidson, Sydney NSW: +$103,000 Runners-upAllambie Heights, Sydney NSW: +$98,000Narraweena, Sydney NSW: +$93,000 Where else are house prices expected to grow?While Sydney is expected to see the highest growth in terms of dollar value, the suburb where median house prices are expected to jump the most in terms of percentage value is Tasmania’s St Leonards, where prices are set to rise by 7.5 per cent in 2020.  More Detail at:x Suburbs where house prices will jump more than $10... The Australian property market is back in full swing. au.finance.yahoo.com

Residents on Sydney’s fringes will be sipping lattes in graffitied laneways and riding trams in “mini Melbournes” if current town planning trends continue, housing experts claim. Town planners have already been drawing on inner city templates to design new housing estates in Sydney’s west and the trend is expected to accelerate as deteriorating housing affordability pushes more people to the outer areas. Some of these templates include more compact housing such as terraces, bicycle lanes and a shift from car centric communities – allowed by new technologies such as trackless trams. Details inside:x Sydney’s ‘mini-Melbourne’ suburbs: How inner... Residents in some unexpected pockets of Sydney will be sipping lattes in graffitied laneways and riding trams designed to mirror Melbourne if town planners have their way. www.realestate.com.au