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City, ACT 2601 Review

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Justprop Team member

Justprop Team member

City
Over the past month, dwelling prices in capital city markets have increased 0.4 per cent compared with 0.3 per cent in regional areas, REA’s latest Insights Home Price Index revealed. While regional markets dominated buyer interest in 2020, strongly outperforming capital city markets, so far in 2021 capital cities are leading the charge. “Price growth in capital cities has been stronger than in regional markets over the past two months, so it will be interesting to see if this trend continues as vaccines roll out in Australia and we head towards a new COVID-normal,” said Mr Kusher. “Undoubtedly, the lure of regional Australia with its lower property prices and desirable lifestyle remains strong, but we may see those who intended to make a tree- or sea-change reconsider their regional move as cities reopen.” “Property prices have clearly responded positively to state and federal government housing stimulus along with the lowest borrowing costs on record. The main potential bump in the road to recovery will be what happens as government and banking support is wound down over the coming months,” said Mr Kusher. According to him, while the share of mortgages on deferral remains low, the removal of JobKeeper and JobSeeker may lead to an increase in forced property sales. Get details at: x Is the regional trend coming to an end? The regional trend could be coming to an end as new figures reveal that monthly capital city price growth has outpaced regional price growth for only the second time in 12 months. www.smartpropertyinvestment.com.au
0 Reply 48 Views 1Mo ago
John

John

City
The rising interest in Aussie regions has been touted as one of the biggest positives to come out of the pandemic, as migrating city folk drive job creation and economic growth in towns less favoured a year ago. According to REA Group chief economist Nerida Conisbee, interest in regional towns is not only being witnessed in the bigger, more established areas, but it’s rapidly rising in the smaller towns with fewer than 1,000 residents. Looking at the data, Victoria’s small towns have proven the most popular, with this state boasting four of the top 10 fastest-growing small towns. Queensland and NSW with two small towns each. Among Australia’s fastest-growing small towns over the last 12 months to December 2020 were: 1. Cape Paterson, Vic | Median: $625,000, Growth: 17.9 per cent 2. Charlemont, Vic | Median, $533,500, Growth: 14.7per cent 3. Callala Beach, NSW | Median: $730,500, Growth: 14.1 per cent 4. Rosebery, Tas | Median: $96,500, Growth: 12.2 per cent 5. Dundee Beach, NT | Median: $230,000, Growth: 12.2 per cent 6. Dundowran, Qld | Median: $455,000, Growth: 11.5 per cent 7. Taroomball, Qld | Median: $460,000, Growth: 11.0 per cent 8. Ventnor, Vic | Median: $585,000, Growth: 10.4 per cent 9. Renwick, NSW | Median: $815,500, Growth: 10.2 per cent 10. Venus Bay, Vic | Median: $360,000, Growth: 9.3 per cent Source: x 10 small Aussie towns with big property price grow... COVID-19 has altered the dynamics of real estate, putting the spotlight on regional towns as more people look to swap the city rush with the laidback regional lifestyle. www.smartpropertyinvestment.com.au
0 Reply 22 Views 2Mo ago
Anuj

Anuj

City
0 Reply 144 Views 5Mo ago
Anuj

Anuj

City
The drop in demand for rental properties has proven so severe that it may lead to a development fall of hundreds-of-thousands of apartments in the next few years, according to a forecast by a government agency. The National Housing Finance and Investment Corporation (NHFIC) claims from 129, 000 to 232, 000 fewer apartments, townhouses and houses could be developed within the next three years due to the sudden drop in migrants weakening rental demand. The drop in demand for rental properties has proven so severe that it may lead to a development fall of hundreds-of-thousands of apartments in the next few years, according to a forecast by a government agency. The National Housing Finance and Investment Corporation (NHFIC) claims from 129, 000 to 232, 000 fewer apartments, townhouses and houses could be developed within the next three years due to the sudden drop in migrants weakening rental demand. The stagnating population growth is weakening rental demand to the point where it could slow down the construction of new developments through 2023, NHFIC said, hurting an industry that’s important to Australia’s economic recovery. “The health response to COVID-19 has created a formidable roadblock and highly uncertain outlook for population growth and demand for housing, ” the report said. Continue reading at: x Falling rents could have a scarring impact for yea... The drop in demand for rental properties has proven so severe that it may lead to a development fall of hundreds-of-thousands of apartments, according to a government agency. www.ratecity.com.au
0 Reply 140 Views 6Mo ago
Sam2019

Sam2019

City
Real estate values across the combined regional areas edged down by 0.1 per cent between March and the end of July, according to CoreLogic figures. Meanwhile, properties in capital cities fell in value by 2 per cent in the same period. Despite the COVID-19 downturn, three quarters of Australia’s major regional housing markets have risen in value in the past year. CoreLogic research found that of the 50 house and unit markets in 25 of the country’s biggest non-capital city regions, values increased in 37 markets in the 12 months to July 2020. House markets outperformed unit markets during this period. House prices went up in 20 regional areas but dropped in five regions. Meanwhile, unit values increased in 17 regional areas. NSW’s Illawarra region recorded the highest annual growth in house values across the non-capital city markets, with house prices shooting up by 12 per cent in the 12 months to July 2020. The regional area where houses were on the market for the shortest time was Victoria’s Ballarat, where it takes about 30 days for a house to be sold. House and unit prices in Ballarat are also being discounted the least across the regional markets, with buyers only able to secure a median discount of 2.4 per cent on houses and 2.1 per cent for units. The Illawarra region also saw the biggest jump in house sales volumes, which surged by 14 per cent in the 12 months to May 2020. Source: x Regional housing values hold up stronger than capi... Australia’s major regional housing markets are holding up stronger than capital city properties during the COVID-19 downturn. www.ratecity.com.au
0 Reply 137 Views 7Mo ago
Sarthak

Sarthak

City
The increase in rental listings represents the change in the level of total rental stock counted in the 28 days leading up to the 15th of March, the week in which Australia recorded its 100th case of COVID-19, compared with that counted in the 28 days to August 9th. Of the 88 SA4 regions measured across the country, 78 regions saw a decline in the volume of rental listings between these dates. Focussing on the 10 regions that have seen an uplift in total rental stock, 8 were regions across Sydney and Melbourne, while inner-city Brisbane and the Adelaide Central and Hills have also seen an increase in rental stock. It is expected seasonally that most areas would see a decline in rental listings, as rental stock on market is usually highest at the beginning and end of each year. For the four years prior to 2020, rental stock on market at mid-August has on average, been -3.2% lower than what is seen over mid-March. The regions with large accumulations in rental stock reflect many of the pain points that have come with the COVID-19 downturn, particularly more recent commentary which has highlighted the gaping hole in housing demand because of international border closures. This is because the majority of new migrants to Australia are renters, at least initially. The 10 SA4 regions which have seen an uplift in rental listings between March and August, together accounted for 29.1% of the net overseas migration to Australia over the year to June 2019. Continue reading at: x Property investors face biggest ever supply glut -... CoreLogic’s head of research, Eliza Owen, has produced interesting research on the massive surge of rental listings across Australia’s inner-city markets: The increase in rental listings represent... www.macrobusiness.com.au
0 Reply 127 Views 7Mo ago
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