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NSW: NSW capital continued to hold the title as the second most expensive capital city rental market
arwin emerged as the strongest capital city rental market over the year, with house rents increasing by 24.2 per cent and unit rents increasing by 20.2 per cent in the 12 months to 12 May 2021, according to new research from Domain. In contrast, Melbourne house rents have declined by 5.2 per cent during the same period, while its unit rents fell by an even larger 11 per cent.
Sydney’s rental growth was also lackluster, with house rents increasing by only 2.4 per cent and unit rents decreasing by 5.7 per cent.
Still, the NSW capital continued to hold the title as the second most expensive capital city rental market, with median house rent at $663.4 and median unit rent at $453.1 – surpassing the capital city average of $556 and $411, respectively. It follows Canberra, where median house rent is at $690.6 and median unit rent is at $492.7. Get details at: x
Small capital cities lead rental growth with doubl...
While Sydney and Melbourne’s rental markets continue to struggle, the smaller capital cities are thriving, having achieved massive growth in the past 12 months.
www.smartpropertyinvestment.com.au
0 Reply
332 Views
28D ago
Anuj
City
The combined value of rent estimates for all properties increased by 9.6 per cent in the year to April in regional Australia, far outpacing the 3.3 per cent growth recorded across the capital cities, CoreLogic’s latest Quarterly Regional Report revealed.
The report also pointed to “extraordinary” tightening across regional rental markets, with rental listings halving over the year to April in 25 SA4 regions. Consequently, rent values increased by 9.4 per cent on average, ranging from a boost of 17.6 per cent in New South Wales’ Richmond-Tweed to 2.3 per cent in the state’s capital region. Continue reading at: x
Regional rents soar as people flee cities
Regional rent values have outpaced the capital city markets by almost three times, a new report has revealed.
www.smartpropertyinvestment.com.au
0 Reply
27 Views
28D ago
James
City
Australia’s property market was negatively impacted at the beginning of the pandemic. Millions of Australians lost their jobs or were thrown onto welfare, consumer confidence cratered, property inspections and auctions were stopped, and the 5-City CoreLogic dwelling values index fell between April and October 2020.
However, the subsequent rebound has been utterly spectacular, with all major capitals experiencing strong price growth. Sydney:
Sydney dwelling values initially fell 2.1%, bottoming on 13 October 2020.
Since then, Sydney values have rebounded 9.1% to be 6.7% higher than the pre-COVID level on 15 March 2020.
Melbourne:
Melbourne dwelling values initially fell very sharply, declining 5.9% to 18 October 2020.
Values have since rebounded strongly, rising 7.3% to be 1.0% higher than the pre-COVID level. Get details at: x
Aussie property's stunning COVID rebound - MacroBu...
Just over a year ago, COVID-19 was declared a global pandemic by the World Health Organization (WHO). A nation-wide lockdown ensued, which was followed by a further 14-week hard lockdown across Victor...
www.macrobusiness.com.au
0 Reply
36 Views
2Mo ago
Justprop Team member
City
Hobart recorded the highest quarterly rise in weekly house rents at 4.3 per cent, followed by Adelaide at 3.7 per cent, Perth at 3.6 per cent and Brisbane at 3.5 per cent. Meanwhile, Sydney, Canberra and Darwin remained stable.
Of all the capital cities, only Melbourne saw house rents decline by 2.3 per cent – making it the second most affordable capital city to rent a house for the first time on record, alongside Perth and behind Adelaide. “For the first time on record, Melbourne is the second most affordable capital city to rent a house, joint with Perth and behind Adelaide,” Domain’s senior research analyst, Dr Nicola Powell, said. But while Melbourne’s vacancies have declined in recent months, they remain 182 per cent higher than last year, according to Dr Powell. This was directly influenced by the reduction of demand as a result of international border closures, more tenants becoming home owners and city residents moving to lifestyle locations.
“Inner Melbourne units have felt the brunt, with rents now at 2010 levels after tumbling by $110 a week annually,” Dr Powell noted. Source: x
Melbourne becomes Australia’s 2nd most affordabl...
While most capital cities saw house rents soar to new record highs over the first quarter of 2021, Melbourne continued to lag behind – becoming the second most affordable capital city to rent in Aus...
www.smartpropertyinvestment.com.au
0 Reply
29 Views
2Mo ago
John
City
Australia’s property market was negatively impacted at the beginning of the pandemic. Millions of Australians lost their jobs or were thrown onto welfare, consumer confidence cratered, property inspections and auctions were stopped, and the 5-City CoreLogic dwelling values index fell between April and October 2020.
However, the subsequent rebound has been utterly spectacular, with all major capitals experiencing strong price growth. Sydney:
Sydney dwelling values initially fell 2.1%, bottoming on 13 October 2020.
Since then, Sydney values have rebounded 9.1% to be 6.7% higher than the pre-COVID level on 15 March 2020.
Melbourne:
Melbourne dwelling values initially fell very sharply, declining 5.9% to 18 October 2020.
Values have since rebounded strongly, rising 7.3% to be 1.0% higher than the pre-COVID level. Continue reading at: x
Aussie property's stunning COVID rebound - MacroBu...
Just over a year ago, COVID-19 was declared a global pandemic by the World Health Organization (WHO). A nation-wide lockdown ensued, which was followed by a further 14-week hard lockdown across Victor...
www.macrobusiness.com.au
0 Reply
30 Views
2Mo ago
InvestAus
City
CoreLogic’s weekly auction clearance rate across the combined capitals has been at or above 80% just five times since 2008, and four of those were in March 2021. The week ending 28th March 2021 recorded the highest auction clearance rate on record (83.1 per cent), while also being the busiest week for auctions since late March 2018. As regular readers know, the auction clearance rate has historically been a strong leading indicator of price growth across Sydney and Melbourne.
Sydney’s clearance rate is pointing to ongoing rapid price appreciation: Get details at: x
CoreLogic: Australia's auction market has never be...
CoreLogic has released its Quarterly Auction Market Review, which reveals that Australia’s combined capital city auction clearance rate was the strongest on record in the March quarter of 2021:
www.macrobusiness.com.au
0 Reply
59 Views
2Mo ago
Anuj
City
Real Estate Market Facts, a new report by the Real Estate Institute of Australia (REIA), revealed that the average capital city median price increased by 6.0 per cent for houses and 0.9 per cent for other dwellings over the December 2020 quarter. Sydney continued to be the most expensive city, with a median house price of $1,211,488, while Perth recorded the most affordable median house price of $490,000.In the 12 months to the December 2020 quarter, the average capital city median house price increased by 6.6 per cent.
For other dwellings, the median price across the eight capital cities added 0.6 per cent to sit at $601,345, with all capitals witnessing a rise albeit Adelaide. Continue reading at: x
House and rent prices rise across most of Australi...
The weighted average capital city median price for both houses and other dwellings surged over the December quarter, marking a successful end to a COVID-impacted 2020.
www.smartpropertyinvestment.com.au
0 Reply
60 Views
3Mo ago
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
79 Views
3Mo ago
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
46 Views
4Mo ago
Justprop Team member
City
The combined capital city clearance rate was recorded at 69.4 per cent over the December quarter, making it the best performing quarter of 2020, followed by the March 2020 at 62.5 per cent. “65.2% of the uplift can be attributed to the resurgence of auctions scheduled across Melbourne. Vendor activity became pent up during stage four restrictions across the city, leading to a delayed flurry of activity. As restrictions eased we saw new listings soar across Melbourne with people looking to sell, and last year the seasonal drop off in auction activity happened about a week later than we would typically expect, as agents tried to keep up with vendor demand.
“While the three months to December was the busiest quarter of 2020, it was significantly lower than the December 2019 quarter, when 26,923 homes were taken to auction across the combined capitals. Get details at:x
Auction rebound points to higher property prices -...
CoreLogic’s Auction Market Review for the December quarter 2020 saw the combined capital city clearance rate continue to strengthen, while auction volumes increased by 44 per cent over the same peri...
www.macrobusiness.com.au
0 Reply
77 Views
4Mo ago
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