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Victoria
Sam2019
Speed
Data collated by CoreLogic has shown that a two-speed rental market now exists, with inner-city property rentals more likely to fall compared with outer suburbs.
CoreLogic’s head of research, Eliza Owen, believes several factors of the COVID-19 downturn have made inner-city rental markets more vulnerable to a market correction.
“These include the relatively high exposure to overseas migration as a source of housing demand,” she said. For rental markets 10 kilometres or further from the CBD, however, house rents had actually increased by 0.1 per cent, while unit rents declined by only 0.4 per cent. The research showed that since the end of March to August, of the 125 SA3 rental market analysed, there were 63 regions where house rents increased, and 35 regions where unit rents increased.
These rental increases were most common across Sydney and Brisbane, which Ms Owen said is due to the fact that employment was less affected by COVID-19, and social distancing measures have eased.
The highest rental value increases were across Blue Mountains houses, which have risen by 3.3 per cent. Continue reading at: x
COVID-19 pandemic may create a ‘two-speed rental...
The COVID-19 pandemic may be leading to a “two-speed rental market”, with suburbs closer to the city likely to experience greater rental falls, new research has revealed.
www.smartpropertyinvestment.com.au
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9 Views
1D ago
Sam2019
Morrison
Earlier this month, Housing Minister Michael Sukkar was interviewed by Sky News where he signaled that the Morrison Government would indefinitely subsidise first home buyers’ property purchases:
“I expect that this will be a feature of the Morrison Government’s policy prescription going forward for helping people getting their first home”… National Housing Finance and Investment Corporation figures released on Thursday show that, since July 1, 4076 places have been reserved or processed under the First Home Loan Deposit Scheme. The rapid take-up of the scheme’s allocated places, which helps applicants purchase a home with a deposit of as low as 5 per cent, will buoy the real-estate industry, which has been hard-hit by falling property prices, depressed rents and poor auction clearance numbers during the COVID-19 pandemic…
Mr Sukkar told The Australian the government was “committed to doing all we can to help Australians get into a home of their own sooner”. Get details at: x
Coalition to expand first home buyer subsidies - M...
Earlier this month, Housing Minister Michael Sukkar was interviewed by Sky News where he signaled that the Morrison Government would indefinitely subsidise first home buyers’ property purchases: “...
www.macrobusiness.com.au
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45 Views
1Mo ago
InvestAus
Plenty
The new residential development in the Lismore suburb of Goonellabah – in regional NSW – takes its name from the old timber mills in the area and the site’s eastern aspect. But much like its Hollywood namesake, Eastwood has put action ahead of words.
The developer, Hunter-based McCloy Group, took the uncommon step of building stage one upfront without pre-sales. McCloy Group project director Sam Rowe says that after previous planned projects on the site by different developers stalled, the group wanted to show buyers it was committed to delivering. It invested heavily upfront in building the site’s infrastructure and presenting each block of land, without first selling any sites unseen.
“Not many developers release a whole stage to market as a finished product,” Rowe says. “People could show up, walk over the lots and see the potential.” “People these days want quality,” Rowe says. “We focus on being here for the long haul, as well as providing a quality product that both the McCloy Group and the new owners can be proud of.”
Get details at: x
Second Stage Released at Eastwood Community in Lis...
A new land release at the Eastwood community in the Lismore region is giving plenty of reasons for buyers to go ahead and make their day.
www.realestate.com.au
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68 Views
2Mo ago
John
Morrison
The HomeBuilder scheme allows for home owners to gain up to $25,000 in government support for renovations between $150,000-$750,000 on properties that are worth less than $1.5 million prior to the renovation.
“There’s opportunities especially in the Brisbane area. You can buy properties fairly close to the CBD under that price range and add value with the renovation,” Mr Jennison said.
The scheme, which is targeting larger repairs over cosmetic changes to property, is targeting structural changes.
“People think renovations are cheap. A lot of people are very surprised when we tell them it’s probably cheaper to build new than renovate.
“So you can chew into a lot of money when you start renovating. But if you can get it up to $150,000, you can get a new kitchen for $25,000,” Mr Jennison said. “I think that is the danger when the government releases these sort of stimulus packages. People shouldn’t spend money just because they can.”
“It really needs to be part of an overall plan to ensure that you're not overcapitalising because if you spend that money because the government is going to give you a $25,000 rebate and you have to sell in two or three years time and you’ve overcapitalised, you may not get that money back. Source: x
What to know before accessing the HomeBuilder sche...
Investors are being urged to consider their property portfolios before trying to access the Morrison government’s latest stimulus package.
www.smartpropertyinvestment.com.au
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58 Views
3Mo ago
Liam
North Geelong
Investors are returning to the safety of property during the COVID-19 pandemic as five buyers contested an industrial complex at a North Geelong auction last week.
A mix of investors and owner-occupiers competed for the 3613sq m property at 11-13 Morgan St, North Geelong, which sold for $1.3 million. Darcy Jarman, Geelong West agent Simon Jarman said bidding opened at $800,000 and quickly accelerated to $1 million, where two buyers — the investor and an owner-occupier — closed out the auction at $1.3 million.
Mr Jarman said the property sold at a 5.75 per cent yield, based on the annual rental income.
The property contains a versatile 1200sq m industrial facility that is presently home to transport company KD Freight Services, providing a $75,000 rental income for the first year. Source: x
North Geelong: Freight depot delivers immediate in...
Investors are returning to the safety of property during the COVID-19 pandemic as five buyers contested an industrial complex at a North Geelong auction last week.
www.realestate.com.au
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58 Views
3Mo ago
Liam
Geelong
A Geelong childcare centre will be the latest in asset from the sector to be offered to commercial property investors at an in-room auction this month.
The Bell Post Hill property is one of three childcare centres offered at the auction on June 24. The tenants have spent $300,000 upgrading the premises in 2020, and pay a net income of $358,275, plus GST. Burgess Rawson director Raoul Holderhead said childcare would continue to ride the strength of the Federal Government’s recent support package.
“It’s arguably one of the best lists of childcare centres we’ve ever had, with three brand new offerings enjoying net 20-year leases, one in Epping with a 15-year lease and one in Geelong a new 14-year lease – buy, set and forget,” he said. Source: x
Portfolio auction: Geelong childcare centre a set ...
A Geelong childcare centre will be the latest in asset from the sector to be offered to commercial property investors at an in-room auction this month.
www.realestate.com.au
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61 Views
3Mo ago
Anuj
Sam2019
Melbourne
Melbourne home buyers have a new number one priority when searching for a property.
The working from home trend amid the coronavirus pandemic means an extra room or study is now a top selling point. “We are seeing a lot of interest in people saying ‘I’m working from home,’ and needing to be able to set up their home office to take advantage of that,” Stephen Dullens from Ray White said. The problem for buyers is there are not enough properties on the market with the extra space.
More details at: x
The new priority for homebuyers amid the coronavir...
Many Australian homebuyers have a new number one priority when searching for a property.
7news.com.au
0 Reply
167 Views
3Mo ago
John
Melbourne
Home value falls of about 10 per cent have been predicted by a range of property experts. With a 10 per cent drop a typical house could also become about $65,000 cheaper in Gembrook, Gladstone Park, Gowanbrae, Keilor Downs, Seabrook and Sunshine North, and $64,000 cheaper in Caroline Springs, Derrimut, Hillside, Monbulk, Point Cook, Sunshine West and Wandin North. Property researchers NAB and Finder, as well as the Victorian Treasury, have forecast a typical Melbourne house would shed 9-10 per cent in value due to the pandemic. First-home buyers Jess Borg and Jordan Hochkins said government incentives helped them buy their first property in Lilydale earlier this year.
“It’s a brand-new townhouse so we get the first-home owner grant,” Ms Borg said. Source: x
The suburbs COVID-19 could return to first-home bu...
First-home buyers could cash in on predictions Melbourne house prices will tumble, with research showing a 10 per cent fall would put 30 previously pricey suburbs back on their shopping list.
www.realestate.com.au
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182 Views
3Mo ago
John
Melbourne
Melbourne’s property values are worst hit by coronavirus in the country.
A 0.9 per cent fall in house and unit values in May made the city the nation’s worst-performing capital for the second month in a row. It comes off the back of the city’s median home value hitting a record high just prior to the pandemic “I think the Melbourne market responding to greater exposure to drops in overseas migration, foreign student numbers and construction activity,” Mr Lawless said.
“This is probably playing out in Melbourne more than any other city.” “In the next couple of months we’ll probably still see some further modest declines in housing values, but consumer sentiment is consistently improving,” Mr Lawless aid. Melbourne’s more affluent areas including the inner south and inner suburbs were the hardest hit in May, with 1.4 per cent and 1.3 per cent home value falls respectively.
However they fell just 0.1 per cent in the outer west and 0.3 per cent on the city’s north west fringe last month. Get more details at: x
Coronavirus: Melbourne suffers worst home value lo...
Coronavirus has hit Melbourne home values harder than any other Australian capital city. But experts say the market has still fared better than expected and are second guessing dire forecasts.
www.realestate.com.au
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63 Views
3Mo ago
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