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Anuj

Anuj

Morrison
One month in and the First Home Loan Deposit Scheme has already attracted more than 5500 keen first-time buyers – and the race is on for purchasers hoping to be approved before the 10,000 coveted places are snapped up. Although the Federal government’s scheme has attracted both positive and negative attention from inside and outside the property industry, when it comes to those first-home buyers who’ve signed up, the good news is in. Apply now, buy later Despite the fact that more than half of the FHLDS spots have already been allocated through major banks (mostly the Commonwealth Bank and National Australia Bank), and hundreds of applications and inquiries are being made each week, there is still time for first-home buyers to apply according to Glen Spratt, managing director of non-bank lender Mortgageport. “There are still spots available with the smaller panel of 25 lenders,” he said. “And that’s really what the scheme was supposed to be all about – creating more competition in the lending space,” he explained. Mr Spratt said the key message to first-home buyers seeking access to the scheme right now is to not just focus on the big banks, but consider talking to one of the other 25 lenders working with the FHLDS. Read more:x First Home Loan Deposit Scheme: Why persistence is... Despite government help, things can still look pretty tough if you are a first-home buyer, but all you need is a little persistence and the right advice to find your dream address. www.realestate.com.au
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Justprop Team member

Justprop Team member

Sale
Property buyers can expect some respite from surging Sydney home prices in March and April as homeowners bring more properties to the market. The current low listings environment has been a significant driver of the 10.5 per cent jump in home prices recorded over the past six months. There are currently fewer Sydney homes for sale than in Brisbane, despite the Harbour City being double its size, and current listing volumes are down a quarter from this time last year. Demand, meanwhile, skyrocketed following two cash rate cuts last year and relaxed lending policies from banks. Property buyers can expect some respite from surging Sydney home prices in March and April as homeowners bring more properties to the market. The current low listings environment has been a significant driver of the 10.5 per cent jump in home prices recorded over the past six months. There are currently fewer Sydney homes for sale than in Brisbane, despite the Harbour City being double its size, and current listing volumes are down a quarter from this time last year. Demand, meanwhile, skyrocketed following two cash rate cuts last year and relaxed lending policies from banks. The low supply, high demand environment was a particularly heavy blow for auction buyers – upward of 40 bidders have been registering for some Sydney auctions this year, resulting in record prices. But housing experts said the bumper prices were emboldening owners to finally list, which would take pressure off of buyers – many of who have been searching for a home since last year. Details inside:x Buyers to get welcome relief next month as more ho... Sydney’s extreme seller’s market may not last too much longer, with property experts pointing to a coming change that will help buyers claw their way back into the market. www.realestate.com.au
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Royal

Royal

Melbourne
Melbourne suburbs where first-home buyers should look in 2020.The only way is up for Melbourne real estate this year, according to property pundits. This is where experts say first-timers should look in the north, south, east and western suburbs this year. So we asked experts and agents across the city for their tips on where to buy. FIRST HOME: less than $750,000 NORTH Craigieburn: First-home buyers would find both houses ($540,000 median) and units ($379,900) achievable in this “growing suburb with reliable transport”. Coburg North/Pascoe Vale: Access to Merri Creek, decent-sized blocks and an affordable $631,000 unit median ensured Coburg North’s appeal, Nelson Alexander Coburg partner Steven Shaw said. Pascoe Vale ($625,000) was also a good bet. Donnybrook/Kalkallo: These fringe suburbs were well connected via the Hume Freeway and Donnybrook train station, and serviced by Epping Plaza and Craigieburn Central, KR Peters director Peter Nicolls said. Donnybrook is flush with new housing and land estates, while Kalkallo has a $580,000 house median. Flemington/Kensington/Travancore: Easy access to the city, “plenty of shops, restaurants and cafes”, and Flemington Racecourse were among this trio’s selling points, Ms Calnan said. Their unit markets offered affordable medians ranging from $355,000 to $583,750. Oak Park: Brad Teal Real Estate director Brad Teal said Oak Park ($612,000 unit median) offered “good land sizes, a bike track into the city, a good choice of primary schools, a train station and freeway access”. Units in boutique ‘70s and ‘80s blocks made ideal entry points. SOUTH Cranbourne West: This southeastern suburb had “access to several schools, Sandhurst Shopping Centre, and Merinda Park and Cranbourne train stations”, Ms Calnan said. The median house price is an affordable $565,000. Clyde North: Mr Nicolls said “value for money” was at a premium in this suburb, with first-home buyers able to secure 460sq m house and land packages from $560,000. “With myriad amenities already nearby, easy access to major roadways and new schools and parks, this suburb will only continue to thrive,” he said. Dandenong: “Great views, plenty of shops and two train lines” should put Dandenong on first-timers’ radars, according to Ms Calnan. It also offers affordable homes, at a $634,000 median for houses and $285,000 for units. Frankston North: A more affordable option ($430,000 house median) than neighbouring Frankston, this suburb offers similar lifestyle perks. “It’s close to the sea and still close to the train line,” Ms Calnan said. Windsor: First-home buyers who score units or apartments ($487,500 median) in this inner suburb will benefit from being close to the CBD. EAST Bayswater/Bayswater North: Affordable median unit prices of $650,000 and $514,995 respectively were on offer in these suburbs with a “plethora of shops and access to EastLink”, Ms Calnan said. Boronia: Buyers can choose from a “mix of townhouses, apartments and established homes” in this outer suburb, according to Mr Nicolls. It had been boosted by the train station’s “major rejuvenation”, but homes remained affordable, with medians of $730,000 for houses and $591,000 for units. Bulleen: Bordering prestige Balwyn North and Ivanhoe ensured Bulleen had stellar growth potential, Barry Plant Doncaster East’s Spiro Drossos said, but its unit market remained affordable ($550,000 median). Hawthorn: This suburb oozed lifestyle perks, Ms Calnan said, being home to “many bars, restaurants, cafes and shops”. Its unit market is achievable for first timers, with a $600,000 median. Yarra Junction: For those who don’t mind a longer commute, Yarra Junction is an “affordable country community with beautiful landscapes, 55km from the CBD”, according to Ms Calnan. A median-priced house will set you back $582,340. WEST Maribyrnong: Access to the Maribyrnong River, and an easy commute to the CBD, are highlights of this inner northwest postcode, according to Ms Calnan. A typical unit there costs $530,000. Melton: This outer suburb’s $377,500 house median is among Melbourne’s cheapest. But Ms Calnan also highlighted Melton’s shopping centre, larger block sizes, and the fact it offered “a beautiful country lifestyle on its back step”. Spotswood: The “first suburb off the ramp leaving the CBD on the West Gate Bridge” offered absolute convenience and a “mix of Edwardian and Californian bungalow homes,” Mr Teal said. Werribee/Wyndham Vale: Affordability was No. 1 in these suburbs, Ms Calnan said, with a median-priced house worth $510,000 in Werribee and $472,000 in Wyndham Vale. Both are connected to Melbourne and Geelong via train. West Footscray: The unit market offers a handy entry point, with a $533,750 median, while the suburb boasts “easy access to the city and a growing economic hub”, according to Ms Calnan. Neighbouring Footscray and Kingsville are also good bets. source:www.realestate.com.au
0 Reply 37 Views 22D ago
Royal

Royal

Melbourne
Peace of mind is essentially assured for homeowners in the Macedon Ranges, Moorabool, Melton and Wyndham, with new research identifying the fringe regions as Melbourne’s most bulletproof markets. Not one seller lost a cent on a house or unit deal in a region on Melbourne’s fringe for most of last year, and vendors in several other areas also made stellar profits. See our bulletproof suburbs. This was the case for the previous two quarters as well.Vendors in Moorabool, Melton and Wyndham enjoyed almost flawless profitmaking rates above 98 per cent in the September quarter, and those in Casey, the Mornington Peninsula, Frankston, Cardinia, Banyule and Hobsons Bay, above 97 per cent. Across greater Melbourne, 93 per cent of homes sold in the period for more than their owners originally paid.This was up from 92.2 per cent in the previous quarter, but down from 95.2 per cent a year prior. Sellers in the Casey region remarkably earned the biggest total profit by value in the September quarter: a combined $621.23 million. Those in blue-chip Boroondara made the highest median profit of $571,500 per sale. A “weak performance of unit resales” made the CBD Melbourne’s least profitable market. Almost 33 per cent of homes sold for less than the vendors paid for them, equating to a total loss of $69.85 million. Citywide, CoreLogic found Melbourne houses had a higher profitmaking rate that units, at 96.6 per cent versus 85 per cent. BULLETPROOF SUBURBS Macedon Ranges: 100% of sales made a profit / $380,000 median profit / $71.55m total value of profit.Moorabool: 98.9% / $219,500 / $54.1mMelton: 98.3% / $225,000 / $267.33mWyndham: 98.2% / $291,450 / $456.89mCasey: 97.4% / $288,500 / $621.23mMornington Peninsula: 97.4% / $321,000 / $597.86mFrankston: 97.4% / $244,000 / $327.43mCardinia: 97.4% / $235,000 / $218.33mBanyule: 97.3% / $393,500 / $253.65mHobsons Bay: 97% / $282,000 / $189.98m Source:x Bulletproof suburbs where sellers are making bank Peace of mind is essentially assured for homeowners in the Macedon Ranges, Moorabool, Melton and Wyndham, with new research identifying the fringe regions as Melbourne’s most bulletproof markets. www.news.com.au
0 Reply 40 Views 23D ago
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