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City, ACT 2601 Review
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
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33 Views
1Mo 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
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48 Views
1Mo 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
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22 Views
2Mo 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
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53 Views
2Mo ago
Joshua
City
The amount of time Sydney homes are sitting advertised for rent has stretched out to 50 days, despite the fact nearly a third of rentals across the city have slashed their asking price.
The latest figures from Domain showed the proportion of rental listings with a price discount was 30.1 per cent in November 2020, up 6.7 percentage points compared to November last 2019.
Properties are taking longer to rent, too: the number of days on market has risen by 15 per cent from 43 to 50 days. The number of days Melbourne homes are sitting advertised for rent jumped a staggering 40 per cent in November compared with this time last year, new analysis shows. Continue reading at: x
Vacant rentals balloon across Sydney and Melbourne...
The amount of time Sydney homes are sitting advertised for rent has stretched out to 50 days, despite the fact nearly a third of rentals across the city have slashed their asking price.
www.macrobusiness.com.au
0 Reply
76 Views
3Mo 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
Justprop Team
City
Spring is generally a good time for sellers in Sydney, but with the impacts of COVID-19 outbreak on the overall market sentiment, will housing markets in the city be able to record increased activity?
The diversity in Sydney's property market means that many suburbs have their own intricacies, said Shaun Thomas, residential director at Herron Todd White Sydney. Sydney's Inner Region was on an upturn before the onset of the COVID-19 outbreak, with its price level almost hitting the 2017 peak. However, activity in the region started to slow during the pandemic, with fewer listings being registered for apartments. In the Western Sydney Region, supply has also been relatively low, preventing further falls in house prices. However, listings could potentially increase during the spring-selling season. In fact, some suburbs in the Western Sydney Region are already reporting an increased level of supply for new units. Get details at: x
How are Sydney regions faring?
Some regions are expected to see listings increase amid the spring selling season
www.yourinvestmentpropertymag.com.au
0 Reply
130 Views
6Mo ago
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
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
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127 Views
7Mo ago
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