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Mr. Robin

Mr. Robin

Hobart
Sellers in Hobart could be the most likely to make a profit, new research shows. Find out which council region in your city is delivering the best gains. Hobart experienced the highest proportion of properties that sold at a profit during the September quarter of 2019. One way to spot a strong local housing market is to check how many properties are reselling at a profit, according to research house CoreLogic.They just released the Pain and Gain report for the September quarter of 2019, revealing the top property hotspots around Australia for profit-making sales. Sellers in Hobart were the most likely to experience capital gains though, with 98.1% of properties selling at a profit over the three months to September. In fact, in some Hobart council regions, 100% of property resales were profitable according to the report. Regional Victoria and regional Tasmania followed, with 96.6% and 96.4% of sales making a profit, respectively. In fact, regional markets thrived in general, outperforming the capital cities, with 88% of regional resales profitable compared to 87.1% of the state capitals. Top property hotspots for profitable sales in capital citiesThese locations recorded the highest percentage of all sales out of all local government areas in Australia’s capital city regions, according to CoreLogic:Brighton, Derwent Valley and Glenorchy in Hobart, plus Peppermint Grove in Perth and Macedon Ranges in Melbourne: 100% profit-making sales.Moorabool, Melbourne: 98.9% profit-making sales.Mosman, Sydney, plus Clarence in Hobart: 98.6% profit-making sales.Melton, Melbourne: 98.3% profit-making sales.Wyndham, Melbourne: 98.2% profit-making sales. Check out a city-by-city breakdown below.x Top Property Locations for Profit in Australia Rev... Sellers in Hobart could be the most likely to make a profit, new research shows. Find out which council region in your city is delivering the best gains. www.canstar.com.au
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Justprop Editor

Justprop Editor

Sam2019

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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