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New South Wales
InvestAus
North Shore
The promise of strong capital growth, low interest rates and a buoyant rental market are luring investors back to the lower north shore.
This buying group has been relatively inactive in the market in recent years. And this has presented a window of opportunity for first homebuyers, young families upsizing from apartments, as well as downsizers. as they have not had to compete with investors. McMahons Point is dominated by semis, apartments and terraces, and freestanding houses don’t often come up for sale. This one last traded in 2017 for $4 million, according to CoreLogic.
Mr Mukhi said the buyer had been looking at other parts of Sydney, and planned to hold the property as a retirement nest egg.
“They may decide to move there in the future,” he said. Continue reading at: x
Strong lower north shore market lures investors ba...
The promise of strong capital growth, low interest rates and a buoyant rental market are luring investors back to the lower north shore.
www.realestate.com.au
0 Reply
78 Views
20D ago
Karan
Anjali
John
Sydney
SQM Research has released its rental report for March, which reveals an extremely tight rental market outside of Sydney and Melbourne, which are suffering from high apartment vacancies from the collapse of international student arrivals.
According to SQM, the rise in rental vacancies in March was unusual and has not occurred since 2007. The monthly increase “was driven by increases in vacancies in Sydney as well as a reversal in some of the tight rental markets of regional Australia”. Sydney’s rental vacancy rate is less elevated and this is translated into smaller annual rental falls across the unit market and minor falls across houses: Get details at: x
Australia's two-speed rental market - MacroBusines...
SQM Research has released its rental report for March, which reveals an extremely tight rental market outside of Sydney and Melbourne, which are suffering from high apartment vacancies from the collap...
www.macrobusiness.com.au
0 Reply
24 Views
25D ago
Anuj
Sydney
Lucky homeowners in Sydney’s boom suburbs have been out-earning the country’s highest paid professionals following the biggest explosion in prices in three decades.
Analysis of 2021 home sales showed multiple homeowners in some Sydney pockets netted more than $400,000 a year in resale profit off their properties – without doing renovations.
Among the most profitable sales was a house in the north shore suburb of Pymble which sold last month for $880,000 above the price paid in 2020. Other properties spread across the north shore, eastern suburbs and northern beaches sold this year for more than $1m above prices paid only a few years ago.
The massive windfalls dwarfed the average annual earnings of some of the highest paid salaried workers, including many doctors, legal professionals and finance workers. Get complete details at: x
Homeowners are netting up to $880,000 a year in ca...
Lucky homeowners have been getting windfalls that dwarf the earnings of some of the country’s highest paid workers – often without even lifting a finger. Here’s how.
www.realestate.com.au
0 Reply
40 Views
29D ago
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
0 Reply
34 Views
1Mo 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
0 Reply
30 Views
1Mo ago
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
0 Reply
24 Views
1Mo ago
Joshua
Sydney
Record low interest rates have made homeownership cheaper than renting in many Sydney suburbs despite house prices growing at the fastest rate since 1988.
With dwelling values are up 6.7 per cent since the start of the year to $928,028, monthly mortgage repayments remain lower than rent in many instances, especially for apartment buyers. Record low interest rates have made homeownership cheaper than renting in many Sydney suburbs despite house prices growing at the fastest rate since 1988.
With dwelling values are up 6.7 per cent since the start of the year to $928,028, monthly mortgage repayments remain lower than rent in many instances, especially for apartment buyers. Merrylands was the only other suburb in Sydney where it was cheaper to buy an apartment, with homeowners able to save $10 per week.
The research found there were no suburbs in Greater Sydney where it was cheaper to buy than it was to rent. Get details at: x
Sydney house market: Lakemba and Punchbowl last re...
Lakemba is just one of four suburbs left in Sydney where it is cheaper to buy than it is rent as property prices continue to soar.
www.realestate.com.au
0 Reply
17 Views
1Mo ago
InvestAus
Sydney
New sales analysis showed there were 140 suburbs with “growth momentum” from rising sales volumes, suggesting further price rises were on the way.
The suburbs were spread across the city from Bondi to Penrith and from Hornsby down to Cronulla, with the northern beaches and inner west accounting for the biggest concentration of rising markets. Property prices have already skyrocketed in recent months, with CoreLogic data published earlier this week showing prices increased nationally at the fastest pace in 32 years over March. Sydney had the biggest surge in the country over the month and it dragged the median price of a city dwelling up to a record $928,000. It also had the largest bump over the past three months at 6.7 per cent. Continue reading at: x
‘Biggest boom ever’: Sydney suburbs where home...
Home values are set to continue rising in every Sydney region this year but some suburbs are expected to have monstrous hikes in prices because there are 50-60 buyers for each available property.
www.realestate.com.au
0 Reply
30 Views
1Mo ago
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