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Northern Territory
Justprop Team
Justprop Editor
Justprop Editor
Justprop Editor
Sam2019
Sydney
The Australian property market finally started to pick up at the end of last year after suffering a long downturn. After the election results, OpenAgent’s Consumer Sentiment Index saw an increase in price expectations. This outlook is continuing to improve, suggesting that property prices could continue going up. New South Wales
The proportion of New South Wales home sellers believing that prices will be going up within the next six months gradually increased throughout last quarter. By the end of December, 82 per cent believed prices would stay the same and only 6 per cent believed they would go down. Victoria
At the last quarter, home sellers in Victoria were the most optimistic compared to home sellers in the other states. In particular, there was a massive spike from November to December. A large 85 per cent of respondents in Victoria believed prices would be going up during the first half of this year. Queensland
Price expectations in Queensland remained stable all of last year and continued to do so in the previous quarter. About 74 per cent of sellers in Queensland said they believed prices would be going up in the first half of this year. Tasmania
The property market in Hobart has also been improving this year. In January, the median house price ($512,899) went up by 0.9 per cent. Similarly, the median unit price ($398,205) went up by 0.8 per cent. The city is now back to its former peak. Australian Capital Territory
Though the increases in Canberra’s median values over January were quite small in comparison to other capital cities, the market is still back to its last peak. There was a 0.3 per cent increase in the median house price ($701,561), and a 0.1 per cent increase in the median unit value ($441,400). South Australia
Market expectations for South Australia were rather negative in the first half of 2019. However, these significantly improved by the end of year. Western Australia
The market in Perth is finally seeing positive changes. In January, the median house price ($456,803) increased by 0.1 per cent and the median unit price ($352,556) increased by
0.3 per cent. Unfortunately, dwelling values haven’t gone back to their last peak and are still down overall for the past year.
Northern Territory
The Darwin market has a similar story. There has been an overall increase of 0.1 per cent in dwelling values but prices are still well below their peak. Though there was a 0.6 per cent increase in the median house price ($469,834), the median unit price ($275,636) went down by 1.1 per cent.
Market outlook
Solid performance across the nation is a great sign that it’s a seller’s market. If you’ve been waiting for the right time to put your property on the market, this could be it. Read more:x
State-by-state breakdown: Property markets improve...
OpenAgent’s Consumer Sentiment Index saw an increase in price expectations at the end of 2019. This outlook suggests that prices could continue to rise.
homesales.com.au
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37 Views
1Mo ago
Royal
Darwin City
Darwin continues to be the only city in the nation with falling house prices. CoreLogic says Australian house prices continued their recovery in December 2019 everywhere except Darwin.Its monthly results show national dwelling prices going up by 1.1 per cent, but Darwin fell a further 0.5 per cent last December. Our city recorded a yearly drop for 2019 of 9.7 per cent.The only other cities to record a drop in 2019 house prices were Perth (6.8 per cent) and Adelaide (0.2 per cent) Over the year Sydney and Melbourne house prices were up 5.3 per cent, Hobart up 3.9 per cent, Canberra up 3.1 per cent and Brisbane 0.3 per cent up. Read morex
Darwin continues to be only city in nation with fa...
DARWIN continues to be the only city in the nation with falling house prices
www.realestate.com.au
0 Reply
97 Views
2Mo ago
MD Emren
Gosford
The NSW suburb topped the list due to a number of factors including the recent bushfire risk, oversupply of units (at more than 72 per cent of existing stock) and that units unsuitable for families were not in high demand.Sydney+suburbs
It is hard to convince prospective buyers that this is the best investment they can make when there are plenty of other options available.
Another at-risk area is the suburb of Mascot with 1,061 units in the pipeline, at an addition of 17.67% to existing stock, and where news of the construction defects impacted the entire suburb.
Areas outside of Sydney and Melbourne, such as Darwin, experienced overall weakness in the property market due to low population growth (the Northern Territory was the only state in Australia that experienced population loss in 2017-18). Read more:x
Top 10 Danger Zones for 2020
Gosford has taken out the No.1 spot in RiskWise’s 2020 list of Top 10 Danger Zones. The NSW suburb topped the list due to a number of factors including...
propertyupdate.com.au
0 Reply
127 Views
1Mo ago
Justprop Editor
Kiama
Big city property prices don’t automatically equal big price growth, says an industry insider who has run the numbers on Australia’s best-performing regional towns over the past 20 years. While rising property values across Sydney and Melbourne have got plenty of attention, long-term price improvements in some smaller centres have flown under the radar, says Simon Pressley, head of research at Propertyology. “Kiama in NSW with a population of only 23,000 has Australia’s third-highest median house price ($900,000).
“Other towns with populations as small as 7000 people have also proven to be far less volatile than Australia’s biggest cities over the past two decades,” Mr Pressley said. Details inside:x
Towns busting the big risk myth
Big city property prices donât automatically equal big price growth, says one industry insider who has run the numbers on Australiaâs best-performing regional towns over the past 20 years.
www.news.com.au
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126 Views
1Mo ago
Joshua
Darwin City
The Northern Territory’s poor economy continues to play a part in its subdued property market with 15.6 per cent price reductions for houses in the past five years and a massive 29.4 per cent for units.
According to the latest Report, much of the negative capital growth in recent years is due to population decreases following the end of the mining boom and lack of employment, leading to high interstate emigration.
The territory was the only state in Australia that experienced population loss in 2017-18.
While dwelling supply in relation to population growth is low and dwellings are very affordable, the low demand for housing makes the Northern Territory a risky area especially given the low level of private investment that is significantly below the growth levels during the mining boom.
According to CoreLogic, Darwin house prices peaked in 2014 and fell 15.6 per cent over the past five years.
However, improved housing affordability slightly reduces the risk associated with houses from medium-high to medium.
It was likely houses in the Northern Territory would deliver poor or negative capital growth in the short to medium term. Details inside:x
Northern Territory's poor economy continues to sub...
The Northern Territory's poor economy continues to play a part in its subdued property market with 15.6 per cent price reductions for houses in the past...
propertyupdate.com.au
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50 Views
1Mo ago
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