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South Australia
Joshua
Adelaide
Adelaide is renowned for its steady rental market but the scales are tipping when it comes to prices, with some suburbs seeing rents jump as high as others have seen them plunge in the past year.
New data from realestate.com.au reveals the suburbs with the largest increases and decreases in rent for houses over the past 12 months.
Tusmore in the city’s east recorded the highest increase with its median weekly rent climbing 28.3 per cent to $590, which was based on 10 houses listed for rent in the period.
Its neighbour Hazelwood Park came in close second with a 26 per cent increase to a median of $630 each week, followed by Marryatville with 23.2 per cent growth to $468 per week. At the other end of the scale, Unley Park experienced the largest decline at 20.1 per cent to a median weekly rent of $563, based on 12 houses listed for rent throughout the year.
Hyde Park (18.8 per cent to a median of $483 a week) and College Park (18.4 per cent to a median of $518 a week) rounded out the top three. TOP 10 SUBURBS WITH LARGEST INCREASES
(Suburb, median weekly rent (12 months), no. of rental listing (12 months), year-on-year weekly rent change)
Tusmore – $590, 10, 28.3 per cent
Hazelwood Park – $630, 14, 26 per cent
Marryatville – $468, 10, 23.2 per cent
Maylands – $540, 18, 20 per cent
Royston Park – $540, 13, 20 per cent
Myrtle Bank – $595, 29, 17.1 per cent
Coromandel Valley -$473, 30, 16.8 per cent
Tennyson – $650, 17, 16.5 per cent
Malvern – $650, 35, 16.1 per cent
Bellevue Heights – $480, 34, 15.7 per cent
TOP 10 SUBURBS WITH LARGEST DECREASES
(Suburb, median weekly rent (12 months), no. of rental listing (12 months), year-on-year weekly rent change)
Unley Park – $563, 12, down 20.1 per cent
Hyde Park – $483, 41, down 18.8 per cent
College Park – $518, 10, down 18.4 per cent
Medindie – $660, 17, down 17.5 per cent
Wayville – $468, 20, down 14.1 per cent
Aldgate – $500, 29, down 13.0 per cent
Cheltenham – $350, 19, down 7.9 per cent
Park Holme – $400, 59, down 7.0 per cent
Netherby – $610, 22, down 6.9 per cent
Walkerville – $590, 27, down 6.8 per cent Read more:x
The top 10 South Australian suburbs where rents ar...
Are you a renter or an investor? New data has revealed the suburbs where prices have jumped or fallen across Adelaide. Will you be jumping for joy or tightening your purse strings? See the full list h...
www.realestate.com.au
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25 Views
16D ago
Steve
Lock
If you own and lease out an investment property, you may consider changing the locks at some stage throughout ownership. While the security of your investment property is of upmost importance, there are several factors to consider before doing so. Things like cost, convenience and regulation all come into play. So, when can a landlord change the locks and further to this, when should a landlord change them?
To answer this question, we first have to look at tenant and landlord obligations.
Tenant and landlord obligations when changing locks
Both tenant and landlord have responsibility when it comes to the security of a rental property.
By law, tenants cannot alter, remove or add any lock or other security device without reasonable excuse or unless the landlord agrees. A reasonable excuse includes:
an emergency
the tenancy of a co-tenant was terminated
the tenant had to comply with an order of the NSW Civil and Administrative Tribunal
a tenant or other occupant was excluded from the premises by an apprehended violence order.
As per a typical tenancy agreement, tenants agree to give the landlord a copy of the key for any changed lock within seven days of the change.
Landlords also have obligations when it comes to changing locks. Landlords are required to provide and maintain locks in order to keep the premises reasonably secure. They’re also obliged to provide each tenant named on the tenancy agreement with a copy of the key.
The landlord must not alter, remove or add any locks without first liaising with the tenants and they must provide a copy of the new key within seven days of the change. By law, landlords must not charge the tenants for copies of these keys unless a replacement is required.
Generally, so long as you inform the real estate agency and tenants of lock changes, and the tenants agree to those changes, you should be able to modify the locks at any time.
You should change the locks if there has been forced entry or theft. You may also want to change the locks if a tenant agreement has been terminated on bad terms. Advantages of changing the locks
The most obvious advantage to changing the locks on your investment property is that it ensures the safety and security of the building and current tenants. As property is likely to be one of the biggest investments you’ll make in your lifetime, it makes sense to properly protect it. This can be a simple yet significant step to do so. Disadvantages of changing the locks
One of the main reasons that landlords don’t regularly change the locks is that it takes time, money and effort. Getting quotes, finding a reasonably priced locksmith and arranging a time for them to access the property with the tenants’ consent can be stressful.
If your investment property is in an area that favours short-term lease agreements, then doing this at the end of every tenancy can be tiresome and unreasonable.
Should you change the locks?
As a landlord, it’s important to be proactive about the security of your investment property. However, whether you decide to change or leave the locks on your property is entirely up to you. Your decision will rely on personal circumstances that only you can determine. Source:x
When can a landlord change the locks?
There are certain rules a property investor must abide by when it comes to the security of their property. So, when can a landlord change the locks?
homesales.com.au
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15 Views
18D ago
Royal
Warrnambool
A property expert has taken his pick in a premiership of sorts, highlighting the town or city in each state where he predicts will see the greatest improvements in property value. Here are his top picks and his reasons for predicting them across each of Australia’s six states: Victoria – WarrnamboolMedian house price: $360,000Capital growth for the year ending October 2019: 4.3 per cent Rents increased by 8.8 per cent over the last 12 months, while the number of listed properties for sale has fallen 27 per cent. Queensland – CairnsMedian house price: $420,000Capital growth for the year ending October 2019: 1.2 per cent Transport infrastructure is also set to expand in 2020, inclusive of airport work, seaport upgrades and major highway projects, while a world-class convention centre should also begin construction in May. South Australia – Victor HarbourMedian house price: $360,000Capital growth for the year ending October 2019: 1.4 per cent A lifestyle location and local tourism hotspot, Mr Pressley has flagged how new federal and state government investment, the approval of a new hotel and opening of a new shopping centre are all indicative of the town’s potential. While the market has been flat for a number of years, he pointed out that household rents did increase by 9.5 per cent last year while sale supply dropped 19 per cent. Tasmania – KingboroughMedian house price: $550,000Capital growth for the year ending October 2019: 1.9 per centTasmania ended 2019 as Australia’s fastest-growing economy. As a municipality making up Greater-Hobart, it makes the list of Australia’s best-performing property market for the last three to five years. Western Australia – NedlandsMedian house price: $1.48 millionCapital growth for the year ending October 2019: -8.2 per centProperty prices in Perth’s inner-west Nedlands municipality are lower today than they were 10 years ago. With the Western Australian capital economy seeing slow improvement, and the previous housing oversupply mostly absorbed.While not expecting Perth’s property market “to set the world on fire any time soon”, property experts says that 2020 will produce the first year of growth for some years. New South Wales – ForbesMedian house price: $250,000Capital growth for the year ending October 2019: -6.3 per cent Forbes has a population of just 10,000, but it hasn’t stopped the town from recording a 5.3 per cent average annual growth in median house prices over the last 20 years. Read more:x
Predicting each state’s biggest price improver f...
A property expert has taken his pick in a premiership of sorts, highlighting the town or city in each state where he predicts will see the greatest improvements in property value.
www.smartpropertyinvestment.com.au
0 Reply
86 Views
2Mo ago
Joshua
InvestAus
Pakenham
With three interest rate cuts, tax cuts and an ease on lending from the major banks, last year proved to be a big one for buyers and it seemed as though they all had their eyes on certain suburbs.
These top selling suburbs were the cool kids of class 2019 – Pakenham in VIC topped the list with 924 sales followed by Adelaide with 612 sales.
Try out our latest interactive to see if you are living in a top selling suburb. Details inside: x
Suburbs with the most sales last year - realestate...
Are you living in a suburb where it feels like 'for sale' signs are forever appearing? New realestate.com.au data reveals the suburbs across the country with the most sales of 2019.
www.realestate.com.au
0 Reply
42 Views
2Mo ago
Ronie
Melbourne
First home buyers can still snap up affordable homes in livable parts of the city, if they’re willing to look in less-familiar neighborhoods.
That’s the key take-away from People’s Choice Credit Union’s latest research on the most affordable and livable cities.
The research, which looked at both Melbourne and Adelaide, compared suburbs by median house price and a range of ‘livability factors’, including public transport coverage, proximity to the CBD, crime rates, and the number of schools.
Suburbs where the median home value was too large for an average young couple to receive a loan to purchase anything were ruled out.
While many of the suburbs which ranked highly on livability tended to be more expensive, the report found in both Adelaide and Melbourne first home buyers can find reasonably priced homes in neighboring areas. Read more:x
First-time buyers urged to check unfamiliar suburb...
First home buyers can still snap up affordable homes in liveable parts of the city, if theyâre willing to look in less-familiar neighbourhoods.
www.realestateview.com.au
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54 Views
2Mo ago
Royal
Sydney
With property prices rising, the five locations that will see even bigger growth have been revealed. With two notable cities missing. It seems there’s no stopping Sydney and Melbourne’s extremely hot property markets, with several months of strong price growth continuing into the new year.
But there are storm clouds on the horizon, a leading expert warns, with savvy investors beginning to focus their attention elsewhere.
In what’s traditionally a quiet month, the sharp real estate growth trend continued in January – and not just in the two biggest markets – with prices rising in every capital across Australia.
Median dwelling values were up 1.1 per cent in Sydney, adding to a total annual increase of 7.9 per cent, and rose 1.2 per cent in Melbourne, for a yearly rise of 8.2 per cent.
And in a sign that buyers remain extremely confident, auction clearance rates in the NSW capital for the first weekend of February were a staggering 77 per cent. Details inside:x
How high can Sydney property prices go?
It seems thereâs no stopping Sydney and Melbourneâs extremely hot property markets, with several months of strong price growth continuing into the new year.
www.news.com.au
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62 Views
1Mo ago
Roma
Adelaide
Want to be near the city but can’t afford the CBD’s median $450 per week in rent? Relax, we’ve got you covered. Here are the 10 cheapest suburbs to rent in within 10km of town. THE city has always been a huge drawcard for renters attracted by its employment, educational and lifestyle opportunities.But living in a capital city often carries a price tag that puts it out of reach of many. In Adelaide’s case, that median price is $450 per week for houses, and $440 per week for units, according to real estate.com.au. New data from realestate.com.au reveals the 10 most affordable rental suburbs within 10km of Adelaide. And Adelaide’s northern and western suburbs dominate the list, with seven of the 10 located there. The average of the 10 SA suburbs is $348, making it the second cheapest city in the nation to live within 10km of the city.Only Western Australia is more affordable, at $328.50.In Sydney it’s a staggering $647.50, while in the NT it’s $488.80. read more detailx
Affordable Adelaide: Get the best of city life wit...
THE city has always been a huge drawcard for renters attracted by its employment, educational and lifestyle opportunities.
www.news.com.au
0 Reply
65 Views
2Mo ago
Steve
Adelaide
House values lifted in every capital city throughout January with four reaching record new highs. According to CoreLogic’s February market report, Hobart, Brisbane, Canberra and Adelaide recorded peak home values in the first month of the year.
Hobart
Hobart recorded the highest annual change in dwelling values, up 5 per cent in the twelve months to January. The rate of return on investment is now at 10.5 per cent, with a median house value of $481,665. The southern city also has the tightest rental market in the country, with rental rates rising 5.8 per cent over the past twelve months. Brisbane
Brisbane property values rose by 0.5 per cent in January and 2 per cent over the quarter. Annually, values have increased by 1.1 per cent. Canberra
Canberra followed Hobart in terms of an annual change in property values, rising 3.1 per cent in the twelve months to January. The median property value is now at $630,078.
According to the Housing Boom and Bust Report released by SQM Research, Canberra is forecast to offer consistent improvement and remain in healthy positive territory in 2020.
Adelaide
Adelaide property values lifted by 0.2 per cent in January, with a median property value of $437,411. The city is expected to see market conditions continue to improve due to rising population fuelling housing demand and a relatively healthy housing affordability in comparison to other capital cities.
Other cities
While Sydney and Melbourne continue to lead the market rebound, they need to lift a further 5.4 per cent and 1.2 per cent respectively before posting a full nominal recovery.
It’s expected that Perth and Darwin will take much longer to recover after experiencing a slump of more than eighteen months. Perth has started to show signs of recovery however will need to recover a further 21.3 per cent to surpass its 2014 peak. Darwin, on the other hand, remains 31.8 per cent below peak. Source:x
Four capital cities reach record high home values
Property values lifted in every capital city throughout January with four capital cities reaching record new highs, according to CoreLogic’s latest report.
homesales.com.au
0 Reply
35 Views
1Mo ago
Ronie
Adelaide
Homes in Glenalta sell faster than anywhere else in Adelaide, new data shows.
The latest figures reveal the median time on market for homes in the Hills suburb is 15 days. This compares to 46 days for Adelaide.
Glenside, in Adelaide’s east, is second on the list with homes selling within 17 days and Kidman Park in the west is third with 20. A lot of families are living there and people from the surrounding suburbs will sell to buy something in Glenalta because they don’t want to leave the Hills but they want to be closer to the city. Read more:x
Glenalta and Glenunga top the list of suburbs wher...
The median time on market in Adelaide’s fastest selling suburb is just 15 days. Can you guess where it is? See the top 10 list here.
www.realestate.com.au
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30 Views
1Mo ago
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