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City, ACT 2601 Review
Justprop Team member
City
The data continues to deteriorate for Australia’s army of negatively geared landlords, with the Australian Bureau of Statistics (ABS) reporting that capital city property rents declined by a record 1.3% over the June quarter and by 1.2% over the year: Most notably, rents fell by 2.0% in Sydney and 1.1% in Melbourne over the June quarter. Given immigration has collapsed and both cities still have an avalanche of supply in the pipeline (see next chart), rents should continue to fall:
Get details at:x
Australian property rents suffer biggest ever fall...
The data continues to deteriorate for Australia’s army of negatively geared landlords, with the Australian Bureau of Statistics (ABS) reporting that capital city property rents declined by a record ...
www.macrobusiness.com.au
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4 Views
6D ago
Anjali
City
Hi everyone, Needed a review of Schofields suburb in terms of travel to the city? Do the nearby stations have car or bike parking spots that can save time for local commute? I am travelling to the city everyday for work so wanted to know if anybody has experience of the commute. Thanks!
1 Reply
20 Views
15D ago
Anjali
John
City
In the year to June 2020, home values rose by 9.0% at the 5-city level, driven by Sydney (+13.3%) and Melbourne (+10.2%), whereas Perth was still in the red (-2.5%): Australian housing correction is clearly underway. The big test will come in October if emergency income support and mortgage freezes are abruptly unwound. Get details at: x
Aussie property values dive 0.9% in June - MacroBu...
CoreLogic’s dwelling value results for June are out at the 5-city level, with values falling 0.85% over the month amid universal declines: It was the second consecutive monthly decline:There are 752...
www.macrobusiness.com.au
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24 Views
1Mo ago
John
City
Crowds watched on as bidders battled for properties on Saturday, driving a 64 per cent preliminary clearance rate from 258 results by realestate.com.au.
About 400 properties went under the hammer, making it Melbourne’s biggest auction weekend since the coronavirus ban on public auctions was implemented in March. The ban has since been lifted in favour of capping crowds at 20, plus real estate agency staff. Meanwhile, no spectators are allowed to attend AFL matches in Victoria.
And it showed, with agents and buyers’ advocates reporting weekend crowds frequently reached their limit as quality stock flew off the shelves. Source: x
Melbourne auctions get bigger crowds than AFL game...
More spectators were on hand for Melbourne auctions than AFL matches over the weekend. And despite the biggest sales list since March, the maxed-out crowds saw plenty of maxed-out results.
www.realestate.com.au
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28 Views
1Mo ago
Liam
City
Property values across the state and territory capitals fell 0.5% last month, the first decline since June 2019, according to CoreLogic Inc. data released Monday. Amongst the biggest falls were Melbourne, where prices dropped 0.9%, and Perth, which was down 0.6%. “Eventually government stimulus will wind back and borrower repayment holidays will expire,” said Tim Lawless, head of research at CoreLogic. “In the absence of these policies, housing values could come under some additional downwards pressure if economic conditions haven’t picked up towards the end of the year.” The government is planning to announce a fresh stimulus plan for the building industry, which employs about 10% of the nation’s workforce. Source: https://www.bloomberg.com/news/articles/2020-06-01/australia-house-prices-fall-as-shutdowns-hit-property-marketx
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37 Views
2Mo ago
John
City
Propertyology’s head of research, Simon Pressley, has revealed that Canberra ranks first amongst Australia’s eight capital cities. “Canberra’s economy was already strong before the germ arrived. And with approximately 100,000 of its 213,000 workforce in the public sector, it will be significantly sheltered throughout the COVID job lockdown period,” “Brisbane’s property market is in second spot. Propertyology has been publicly critical of Brisbane, and we remain unchanged from our long-held view that Brisbane’s soft private sector job growth is an important missing link for otherwise solid fundamentals,” Mr Pressley said. Source: x
Australia’s top capital city revealed
Despite the majority of the focus being on Sydney and Melbourne, a property researcher has revealed that neither city gives investors the best bang for their buck.
www.smartpropertyinvestment.com.au
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43 Views
2Mo ago
Roma
Justprop Team member
City
The Logan suburbs with the highest rental yields for houses are Logan Central (6.49 per cent), Kingston (6.19 per cent) and Woodridge (6.16 per cent). Suburbs like Kingston and Woodridge are under a half-hour drive to Brisbane, and suburbs like Eagleby and Beenleigh are just over a half-hour drive to the Gold Coast.
According to OpenAgent’s data analyst Carson Teh, the Logan region is expected to grow significantly this 2020, driven by the increase in population as well as several enhancement projects. “The Queensland government expects the population in Logan to grow from 326,615 people in 2018 to 432,000 by 2031,” said Mr Teh. “Entry-level housing is always appealing, especially to interstate investors when they compare local house prices, NSW in particular, and see significant value long term,” Mr Piotto highlighted.
“Rental returns are always going to be strong with the area located right in the middle of Brisbane and the Gold Coast, great public and private schooling, and the blue-collar industry within a 10-minute drive of these areas.
“With the local and state government continuing to improve amenities, new water parks, Logan Metro Sports Centre and the Logan Entertainment Centre, it’s easy to see why families get a lot of bang for their buck so to speak.” For more details, visit: x
Brisbane suburbs near CBD boast above 5.6% yields
Latest insights from OpenAgent.com.au found that suburbs near the Brisbane city centre boast rental yields over 5.6 per cent.
www.smartpropertyinvestment.com.au
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43 Views
2Mo ago
John
City
The Valuer-General’s 2020 Property Market Movement report shows the median price for residential land on the Gold Coast increased by 4.8 per cent over the past year to $355,000.
Clear Island Waters was the standout suburb with a 20.6 per cent increase to $820,000 Queensland’s State Valuation Service area manager Greg Crowley said the results showed the market was still positive for most areas of the Coast.
“One of the stronger areas was Clear Island Waters which showed a 20.6 per cent increase in median value,” he said.
“It shows the strong demand for waterfront properties.”
While Advancetown (67.9 per cent increase) and Austinville (34.2 per cent) recorded huge jumps, Mr Crowley said there wasn’t enough properties measured for an accurate representation.
“They’re not a good measure of the overall market,” he said. Mermaid Beach, Parkwood, Molendinar and Arundel all decreased in value while 18 suburbs recorded no change.
“This just shows a small price correction,” he said.
“For those that remained unchanged it shows the market is stable.”
Valuations were last issued for the Gold Coast in 2018.
The full report will be up at 9am at www.qld.gov.au/environment/land/title/valuation/market-reports
“This information will be used for local council ratings, state land tax and state land rental from June 20, 2020,” Mr Crowley said.
BIGGEST WINNERS
Advancetown, $1.175 million, 67.9 per cent increase (based on two properties)
Austinville, $550,000, 34.2 per cent increase (based on one property)
Clear Island Waters, $820,000, 20.6 per cent increase (based on 1072 properties)
Currumbin Valley, $1.1 million, 18.3 per cent increase (based on 7 properties)
BIGGEST LOSERS
Mermaid Beach, $1.1 million, 4.4 per cent decrease (based on 1127 properties)
Parkwood, $325,000, 4.4 per cent decrease (based on 2533 properties)
Molendinar, $355,000, 4.3 per cent decrease (based on 1823 properties)
Arundel, $335,000, 2.9 per cent decrease (based on 3017 properties) Source:x
Gold Coast property: land valuations reveal winner...
Gold Coast land valuations have jumped by almost five per cent across the city with one suburb soaring in value by more than 20 per cent.
www.realestate.com.au
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128 Views
5Mo ago
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