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South Australia
InvestAus
Price
“So far, property value declines have been fairly mild. Nationally, the May home value index results show that the dwelling market declined just 0.4 per cent over the month, and preliminary indicators for June are showing the rate of decline has gathered some momentum through the month.
“However, the Australian housing market is not one market, but a collection of many. Over the past few months, dwelling market performance has varied by region, in both a cyclical and structural way,” Ms Owen explained.
The top 10 markets seeing the biggest property price falls are:
Mandurah (WA): -2.2 per cent
Greater Melbourne Melbourne - Inner South: -2.2 per cent
Greater Melbourne Melbourne - Inner: -1.8 per cent
Greater Melbourne Melbourne - Inner East:-1.8 per cent
Greater Perth Perth - South East: -1.2 per cent
Greater Melbourne Melbourne - Outer East: -1.2 per cent
Greater Brisbane Ipswich: -0.8 per cent
Greater Sydney Sydney - North Sydney and Hornsby: -0.7 per cent
Greater Sydney Sydney - Inner West: -0.7 per cent
Greater Sydney Sydney - Northern Beaches: -0.7 per cent
“Unsurprisingly, Melbourne’s inner city and eastern suburbs have seen the largest decline across the metropolitan region, and the past two months have seen a decline in values across some high end markets in Sydney, such as North Sydney, the Inner West and the Northern Beaches,” Ms Owen said. “International border closures in response to COVID-19 may have created a significant demand shock, which had interrupted a recovery in the Perth - South East region. Prior to this, dwelling values in the area had seen four consecutive months of growth between December 2019 and March 2020.”
Ms Owen noted at a suburb level, the biggest price falls are more reflective of the historic cyclical trends, “where the downturn is most prevalent in the high end of Sydney and Melbourne this far”. Source: x
10 areas where property prices are falling
New research has identified the top 10 areas recording the greatest change in dwelling market values from 31 March to 31 May.
www.smartpropertyinvestment.com.au
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20Hr ago
Justprop Team member
Price
National house prices declined by 0.7% in June, with Perth and Melbourne reporting the most significant decrease at 1.1%. Of all capital cities, only Hobart, Darwin, and Canberra reported gains in dwelling values of the month.
This downward pressure on home values is considered mild, with capital cities recording a cumulative decline of 1.3% over the past two months, said Tim Lawless, head of research at CoreLogic. "These factors have helped to keep urgent sales off the market, providing further insulation to housing values," he said.
In fact, despite the decline in values, the market remained busy over the month with a 29.5% estimated sales growth, extending the 21.5% surge in May.
On an annual basis, prices maintained their solid position, with Sydney and Melbourne recording double-digit upswings of 13.3% and 10.2%, respectively. Source: x
Small decline in house prices
What could be insulating the housing market from a more substantial decline in dwelling values?
www.yourinvestmentpropertymag.com.au
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2 Views
2D ago
Liam
Price
Source: x
Property prices led lower by top-end - MacroBusine...
Via CoreLogic: There are 313 words left in this subscriber-only article.Start your free 14-day trial today!YOU MAY ALSO BE INTERESTED INWestpac wins responsible lending appealVia Westpac: Westpac Bank...
www.macrobusiness.com.au
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6D ago
Justprop Team member
Price
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
The six-bedroom home at 80 Cubberla Street in Fig Tree Pocket sits on a massive 1.09 hectare (10,900sq m) block and has more than 60m of river frontage. The property was marketed at more than $3 million by Josephine Johnston-Rowell of Johnston Dixon.
The agency’s chief executive John Johnston yesterday confirmed the sale.
“The property was aimed in the $3 millions and that’s where it sold,” Mr Johnston said.
The price is believed to be the highest fetched by a Brisbane property since the pandemic restrictions were eased. Get more info at: x
Eased COVID-19 restrictions spark huge Brisbane sa...
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
www.realestate.com.au
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17D ago
InvestAus
Price
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
The six-bedroom home at 80 Cubberla Street in Fig Tree Pocket sits on a massive 1.09 hectare (10,900sq m) block and has more than 60m of river frontage. “The property was aimed in the $3 millions and that’s where it sold,” Mr Johnston said.
The price is believed to be the highest fetched by a Brisbane property since the pandemic restrictions were eased. “We’ve had multiple people try to buy it before auction and post. This buyer hung in there, went cool when the virus first hit but now that the sky seems to be clearing very quickly, they reaffirmed their genuine interest in what is a landmark riverfront property.” Source: x
Eased COVID-19 restrictions spark huge Brisbane sa...
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
www.realestate.com.au
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14 Views
24D ago
Justprop Team member
Price
As Gary Brinkworth, the boss of the Herron Todd White valuation firm recently noted, some observers are expecting a subtle slowdown, while others predict a catastrophic collapse.
He added it can be difficult to keep up as markets adapt to the challenges around COVID-19.
“Some locations have seen monumental disturbance to their usual state of affairs, while others have barely registered a ripple,” he said. “COVID-19 has amplified the diversity of Australia’s resident property markets by location, price point and property type.”
Well informed valuers, like well informed estate agents, have the best insights on price direction. The slowdown in volumes of transactions in inner Sydney and the eastern suburbs made it difficult to ascertain any emerging pattern but HTW advised that in previous downturns the inner city market segment was most vulnerable to volatility in the upsizer price bracket, typically from $2 million to $3 million. Get more details at: x
Coronavirus impact on property market uncertain, a...
The impact of the coronavirus on the property market is a contentious topic, with some observers expecting a subtle slowdown, while others predict a catastrophic collapse.
www.realestate.com.au
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23 Views
1Mo ago
Liam
Adelaide
Adelaide is one of the most consistent property markets in Australia, given the steady demand, solid local economy, and housing affordability.
Adelaide also had a very low vacancy rate heading into the shutdown period: an overall vacancy rate below 1%, which means the city's rental market is well-placed to absorb the extra rental stock coming into the market because of the impact of the virus shutdown. "I see Adelaide as being one of the best capital cities in the nation for real estate investment with good prospects for future growth, as well as above-average rental yields," Ryder said. "The Adelaide market is traditionally quite stable, offering an affordable entry price with good long-term stability in property prices," she told Your Investment Property. "We are seeing more and more young interstate people buying in Adelaide to get their foot into the pr Source: x
Revealed: Most resilient city amid COVID-19
This capital city is not vulnerable to extreme price fluctuations, experts say
www.yourinvestmentpropertymag.com.au
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17 Views
1Mo ago
InvestAus
Price
The Commonwealth Bank has revealed the different property scenarios it is considering as part of an economic downturn.
Its base case has worsened slightly, expecting 11% falls if a speedy recovery commences in 2021.
While assuming a downturn would shave 11% off house prices nationally, the Commonwealth Bank has projected a prolonged downturn would threaten to smash property values by nearly a third, at 32%. In its update, the Commonwealth Bank revealed its provisioned $1.5 billion to cover the rise in bad debts it expects to take on as part of the economic downturn.
While startling, the figures aren’t beyond the realm of possibility, as vacancy rates surge. The National Cabinet may have begun winding back government restrictions with a view to return to business as usual by July, but the timeline of its three-stage plan hinges on no new major outbreaks of COVID-19. Source: x
The Commonwealth Bank expects house prices to fall...
It’s possible Australia could have a real property price crash on its hands, the country’s largest retail bank has warned.
www.businessinsider.com.au
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64 Views
1Mo ago
InvestAus
Price
Slowly and gradually as the restrictions on travel are being relieved by the govt, some areas are expected to experience greater demand for accommodation than others. There are suburbs where residential demand has been largely dependent on short-stay business and holiday rentals, international students, tourists and workers in the hospitality industries.
Rental demand has collapsed in these locations as demonstrated by these examples: In fact, the areas worst hit by the collapse in short term business and holiday rentals, tourism and overseas migration will be the first to bounce back as the current restrictions are lifted. In addition to inner-urban precincts such as the Sydney, Melbourne and Brisbane CBDs and their surrounding high-density suburbs, growth will return to popular holiday destinations such as those shown in this table:
Get details on given link: x
Which property locations are most at risk in the s...
In these unprecedented times, if there is one certainty that we can hold on to, it is that growth will return to our property markets. As the restrictions...
propertyupdate.com.au
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24 Views
1Mo ago
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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3Mo ago
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