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Hobart, TAS 7000 Review
John
Sydney
Asking rents in capital cities, on average, declined by 1.1% for houses and 0.7% for units. Hobart hit the steepest decline in rent for units at 4.3% while Sydney recorded the most substantial drop for houses at 1.7%. Only Perth and Darwin reported gains in both house and unit rents.
"Sydney and Melbourne rents continue to fall, providing leasing opportunities for tenants who have chosen to stay in town," said Louis Christopher, managing director at SQM Research.
The table below shows the weekly rents across capital cities for the week ending 12 September:
Of all central business districts (CBD), Sydney CBD registered the highest vacancy rate at 12.9%. This, however, was a decline from the all-time high of 16.2% Sydney CBD recorded in May. Melbourne CBD, on the other hand, posted its highest vacancy rate on record at 10%. Get full details at: x
Rents stay low despite shrinking vacancies
The shift towards regional living continues, leaving many homes in inner cities vacant
www.yourinvestmentpropertymag.com.au
0 Reply
121 Views
1Mo ago
Royal
Hobart
Hobart's housing market outperformed its peers over the past five years in terms of price growth, according to the latest report from Domain.
Both house and unit prices grew significantly over the past five years, up by 57.3% and 70%, respectively. This is the strongest capital growth of all the major capitals over the five-year period.
"Hobart house prices pushed to new heights over the June quarter. Hobart was one of three cities to see houses rise in the three months to June. For the first time on record, it is now more expensive to purchase a house in Hobart than it is in Perth and Darwin," said Nicola Powell, senior research analyst at Domain. Over the June quarter, house prices in Hobart increased by 1.4% to $529,388. Units, on the other hand, declined by 1.5% to $429,464. Still, unit prices in Hobart were 17.3% higher in June than during the same quarter last year.
While risks to the Hobart market remain, Powell said government stimulus would help alleviate some of the downward pressure in prices. Get details at: x
City boasts strong value gains
Its momentum, however, slows down after posting substantial growth over the past five years
www.yourinvestmentpropertymag.com.au
0 Reply
39 Views
3Mo ago
Joshua
John
Hobart
A HISTORIC Fingal Valley grazing property has hit the market for the first time since the original land grant in the 1820s. Cullenswood has been the home of the Legge family for two centuries including former Break O’Day Council mayor Robert Legge and his partner Jean. Colonel William Vincent Legge was born at the property in the 1840s.It is currently owned by Cullenswood Pty Ltd.Cullenswood is set on 2590ha of land across four titles and with 1300ha of arable land. The nine-bedroom homestead dates back to 1827 and was built from stone and timbers off the farm. Its gardens are home to some of the largest redwood trees in the Southern Hemisphere. Cullenswood also has its own roadside church, a local landmark dating back to 1847. Get more information fromx
Historic Cullenswood on the market for first time ...
This 2590ha Fingal Valley farm has a rich heritage and it offers everything that agriculture investors are looking for.
www.realestate.com.au
0 Reply
316 Views
9Mo ago
Mr. Robin
Hobart
Sellers in Hobart could be the most likely to make a profit, new research shows. Find out which council region in your city is delivering the best gains. Hobart experienced the highest proportion of properties that sold at a profit during the September quarter of 2019. One way to spot a strong local housing market is to check how many properties are reselling at a profit, according to research house CoreLogic.They just released the Pain and Gain report for the September quarter of 2019, revealing the top property hotspots around Australia for profit-making sales. Sellers in Hobart were the most likely to experience capital gains though, with 98.1% of properties selling at a profit over the three months to September. In fact, in some Hobart council regions, 100% of property resales were profitable according to the report. Regional Victoria and regional Tasmania followed, with 96.6% and 96.4% of sales making a profit, respectively. In fact, regional markets thrived in general, outperforming the capital cities, with 88% of regional resales profitable compared to 87.1% of the state capitals. Top property hotspots for profitable sales in capital citiesThese locations recorded the highest percentage of all sales out of all local government areas in Australia’s capital city regions, according to CoreLogic:Brighton, Derwent Valley and Glenorchy in Hobart, plus Peppermint Grove in Perth and Macedon Ranges in Melbourne: 100% profit-making sales.Moorabool, Melbourne: 98.9% profit-making sales.Mosman, Sydney, plus Clarence in Hobart: 98.6% profit-making sales.Melton, Melbourne: 98.3% profit-making sales.Wyndham, Melbourne: 98.2% profit-making sales. Check out a city-by-city breakdown below.x
Top Property Locations for Profit in Australia Rev...
Sellers in Hobart could be the most likely to make a profit, new research shows. Find out which council region in your city is delivering the best gains.
www.canstar.com.au
0 Reply
163 Views
9Mo ago
Justprop Editor
Melbourne
How are Australia’s states and territories performing?
It not just about their property markets, but their economies.
Of course the performance of their real estate markets is intimately tied to their economic performance and that why study of CommSec’s quarterly State of the States Economic Update which analyses eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements is important.
Just as the Reserve Bank uses long-term averages to determine the level of ‘normal’ interest rates; Commsec have done the same with key economic indicators.
For each state and territory, the latest readings for the key indicators were compared with decade averages – that is, against the ‘normal’ performance. Key findings
Victoria remains the best performing economy.
Tasmania has held on to second spot from NSW but there is little separating the top three states.
The ACT is solidly in fourth position.
Then there is a gap to Queensland and South Australia.
And then follows Western Australia and the Northern Territory. Read more: x
Here's what's happening around Australia - State b...
How are Australia’s states and territories performing? Now I’m not talking about their property markets, but their economies. Of course the performance of...
propertyupdate.com.au
0 Reply
150 Views
8Mo ago
Sam2019
Sydney
The Australian property market finally started to pick up at the end of last year after suffering a long downturn. After the election results, OpenAgent’s Consumer Sentiment Index saw an increase in price expectations. This outlook is continuing to improve, suggesting that property prices could continue going up. New South Wales
The proportion of New South Wales home sellers believing that prices will be going up within the next six months gradually increased throughout last quarter. By the end of December, 82 per cent believed prices would stay the same and only 6 per cent believed they would go down. Victoria
At the last quarter, home sellers in Victoria were the most optimistic compared to home sellers in the other states. In particular, there was a massive spike from November to December. A large 85 per cent of respondents in Victoria believed prices would be going up during the first half of this year. Queensland
Price expectations in Queensland remained stable all of last year and continued to do so in the previous quarter. About 74 per cent of sellers in Queensland said they believed prices would be going up in the first half of this year. Tasmania
The property market in Hobart has also been improving this year. In January, the median house price ($512,899) went up by 0.9 per cent. Similarly, the median unit price ($398,205) went up by 0.8 per cent. The city is now back to its former peak. Australian Capital Territory
Though the increases in Canberra’s median values over January were quite small in comparison to other capital cities, the market is still back to its last peak. There was a 0.3 per cent increase in the median house price ($701,561), and a 0.1 per cent increase in the median unit value ($441,400). South Australia
Market expectations for South Australia were rather negative in the first half of 2019. However, these significantly improved by the end of year. Western Australia
The market in Perth is finally seeing positive changes. In January, the median house price ($456,803) increased by 0.1 per cent and the median unit price ($352,556) increased by
0.3 per cent. Unfortunately, dwelling values haven’t gone back to their last peak and are still down overall for the past year.
Northern Territory
The Darwin market has a similar story. There has been an overall increase of 0.1 per cent in dwelling values but prices are still well below their peak. Though there was a 0.6 per cent increase in the median house price ($469,834), the median unit price ($275,636) went down by 1.1 per cent.
Market outlook
Solid performance across the nation is a great sign that it’s a seller’s market. If you’ve been waiting for the right time to put your property on the market, this could be it. Read more:x
State-by-state breakdown: Property markets improve...
OpenAgent’s Consumer Sentiment Index saw an increase in price expectations at the end of 2019. This outlook suggests that prices could continue to rise.
homesales.com.au
0 Reply
170 Views
8Mo ago
Royal
Hobart
Hobart has come out on top in new data analysis that also showed that nationwide, almost nine out of 10 property resales over the September 2019 quarter sold for more than they had done previously.CoreLogic’s Pain and Gain quarterly report found that Australia-wide, property resales for the quarter delivered gross profit of $18.7 billion to property sellers. Overall, CoreLogic found that Hobart sellers were the most likely to boost their profits from sales – with 98.1 per cent of properties selling for a profit.Regional Tasmania also fared well, with 96.4 per cent of sellers receiving positive returns on their initial investment. over the September 2019 quarter, 98.8 per cent of investment properties resold in Hobart were profitable compared [with] 98.0 per cent of owner-occupied dwellings.This was far higher than national figures, which showed 88.9 per cent of owner-occupied properties resold for a profit compared with 83.4 per cent of investor-owned properties. more detail:x
Tasmania pulls through for investors in promising ...
Hobart has come out on top in new data analysis that also showed that nationwide, almost nine out of 10 property resales over the September 2019 quarter sold for more than they had done previously.
www.smartpropertyinvestment.com.au
0 Reply
123 Views
9Mo ago
Royal
Hobart
Almost nine out of 10 property resales over the September 2019 quarter sold for more than their previous price, delivering a gross profit of $18.7 billion for resellers across Australia. The latest CoreLogic Pain and Gain report showed overall 87.4 per cent of property sold above its previous price, and reveals a slight increase in. The latest CoreLogic Pain and Gain report showed overall 87.4 per cent of property sold above its previous price, and reveals a slight increase in profitable resales (0.1 per cent) compared to the previous quarter, while gross profits increased by $2.4bn over the same period (resales totalled $16.3bn in June 2019).CoreLogic head of residential research Eliza Owen said overall, Hobart sellers were most likely to experience gains with 98.1 per cent of properties selling for a profit over the three months to September 2019. “Hobart has experienced particularly large capital gains over the past five years and this has translated into exceptionally strong results for resellers of both houses and apartments during the past quarter,” Ms Owen said.A high proportion of resales in regional Victoria (96.6 per cent) and regional Tasmania (96.4 per cent) also delivered positive returns for sellers. The strong housing market in Hobart and regional Tasmania has also helped investor owners, who are more likely to sell at a loss than owner-occupiers, to buck the trend and enjoy greater gains than in these regions. “Over the September 2019 quarter, 98.8 per cent of investment properties resold in Hobart were profitable compared to 98.0 per cent of owner-occupied dwellings.”Nationally, 88.9 per cent of owner-occupied properties resold for a profit compared to 83.4 per cent of investor-owner properties. Overall, house resellers were more likely than unit sellers to experience gains. Nine in ten (90 per cent) houses across Australia sold for more than their previous purchase price compared to 80.2 per cent of apartments. Across the capital cities, the median hold periods for profitable house sales were highest in Perth (13.1 years) and Darwin (13.5 years) and lowest in Hobart (9.2 years) and Sydney (9.5 years). Key findings for September 2019 quarter – national 87.4 per cent of properties across the nation sold for a profit in the September 2019 quarter. Across the combined capital and regional markets, a higher proportion of houses (90 per cent) resold at a profit than units (80.2 per cent).Hobart leads the market with 98.1 per cent of homes resold turning a gross profit, followed by regional Victoria (96.6 per cent) and regional Tasmania (96.4 per cent).Hobart also recorded the highest gains for both houses and apartments with 98 per cent of house resales and 98.5 per cent of apartment resales profitable. Regional Victoria and the ACT delivered the strongest results for house resellers with 96.9 per cent of houses in these areas reselling for a profit. The greatest gains for apartment resellers were across the rest of Tasmania (96.3 per cent) and the rest of Victoria (94.2 per cent).The greatest losses for houses were recorded in Regional WA and Darwin, where 41 per cent and 39 per cent sold at a loss, followed by Perth (32.9 per cent). For units, the greatest pain was in regional WA and Darwin, where 63.7 per cent and 61.8 per cent of apartment resales were at a loss respectively.Nationally, investors were more likely to resell at a loss compared to owner-occupiers. 11.1 per cent of owner-occupied properties in Australia resold at a loss compared to 16.6 per cent of investment properties.Throughout the combined capitals, 11.1 per cent of owner-occupiers failed to resell their property for a profit compared to 17.2 per cent of investor-owned properties. The difference was greatest in Canberra, where 5.2 per cent of owner-occupied properties resold for a loss compared to 24.9 per cent of investment properties.Nationally, profitable resales were held for a median of 9.5 years while loss-making resales had a median hold period of 6.0 years. Key findings – regional Across the major coastal markets, Geelong reported the highest proportion of profit-making resales over the September 2019 quarter (98.8 per cent). Resale losses were the greatest in Bunbury (37.5 per cent) and Cairns (23.3 per cent).In the non-coastal regions, the highest proportion of profit-making resales were in Ballarat (98.6 per cent) and Bendigo (96.8 per cent) while the highest proportion of loss-making resales were in Queensland’s Toowoomba region (12.7 per cent) and the New England & North West region of New South Wales (11.5 per cent). Sydney Resale In Sydney, 90.2 per cent of dwelling resales were profitable over the September quarter. This was up from 89.1 per cent in the June quarter but down from 94.5 per cent a year ago.Mosman resellers experienced the highest gains with 98.6 per cent of all homes resold at a gross profit. This was followed by Waverley (96.3 per cent) and Hunters Hill (95.5 per cent).The lowest proportion of profit-making resales was recorded in Parramatta where 81.5 per cent of all resales turned a profit, followed by Canterbury-Bankstown (81.7 per cent) and Strathfield (83.7 per cent). Melbourne Resale 93.0 per cent of Melbourne properties resold for a gross profit over the September quarter. This is up from 92.2 per cent in the June quarter but down from 95.2 per cent a year ago.Macedon Ranges recorded the highest proportion of profit making resales with 100 per cent of all homes resold incurring a gross profit, followed by Moorabool (98.9 per cent) and Melton (98.3 per cent).The lowest proportion of profit-making resales was in the Melbourne council area (67.1 per cent). Next were Stonnington (79.1 per cent) and Port Phillip (84.5%). Brisbane Resale 87.9 per cent of Brisbane resales recorded a gross profit over the September quarter, up from 87.2 per cent over the June quarter. This was down from 90.8 per cent over the same period last year.Only 63.5 per cent of unit resales made a gross profit over the quarter compared to 94.6 per cent of houses.The Scenic Rim experienced the greatest gains, with 93.6 per cent of properties reselling at a gross profit. The next most profitable areas were Moreton Bay (90.8 per cent) and Redland (90.4 per cent).The lowest proportion of profit-making resales was recorded across the Lockyer Valley council, with 82.9 per cent of resales turning a gross profit, followed by Brisbane council area (86.1 per cent) and Somerset (87.5 per cent). Adelaide Resale 89.2 per cent of resales across Adelaide were sold for a gross profit over the September quarter, down from 91.8 per cent over the June quarter.92.4 per cent of Adelaide house resales sold for a profit and 76.4 per cent of unit resales were profitable.The highest proportion of profit making resales was recorded in the Adelaide Hills (96.6 per cent of dwellings were profitable), followed by Mitcham (94.3 per cent).Adelaide council area had the lowest proportion of profit making resales with 70.2 per cent of dwellings resold at a gross profit. Perth Resale 63.6 per cent of Perth dwelling resales turned a gross profit over the September quarter (up from 63.3 per cent in June). A year ago, 68.8 per cent of homes in Perth resold at a gross profit.67.1 per cent of houses were resold at a profit compared with 48.0 per cent of units.81.8 per cent of resales turned a profit in Claremont, followed by Cottesloe (81.3%).The lowest proportion of profit making resales were recorded in Perth council area (32.3 per cent) followed by Belmont (52.8 per cent) and Mandurah (56.7 per cent). Hobart Resale Hobart had the highest proportion of profitable resales, with 98.1 per cent of all resales over the September quarter recording a gross profit.Three areas recorded 100 per cent of resales at a gross profit: Brighton, Derwent Valley and Glenorchy. The lowest proportion of profit-making resales was in Hobart council, where 95.7 per cent of properties resold at a gross profit. Darwin Resale Profit-making resales in Darwin tracked at 51.7 per cent over the September quarter (up from 50.4 per cent of resales in June). Canberra Resale In Canberra, 89.3 per cent of properties sold for more than their original purchase price in the September quarter 2019.78.9 per cent of resales recorded a gross profit compared with 96.9 per cent of house sales. source: EliteAgentx
Hobart leads the way as resale prices on the rise
Almost nine out of 10 property resales over the September 2019 quarter sold for more than their previous price, delivering a gross profit of $18.7 billion for resellers across Australia. The latest Co...
eliteagent.com
0 Reply
174 Views
9Mo ago
Royal
Hobart
Tasmania will be the market to feel the pain, says valuer Anna Porter in an outlook report for 2020 titled 'The Most Real 2020 Market Predictions you'll read'. Property valuer Anna Porter has taken a contrarian view on Hobart, tipping the Tasmanian capital's housing bubble to burst in 2020. Source:x
'Real pain': Hobart housing bubble set to burst in...
Tasmania will be the market to feel the pain, says valuer Anna Porter in an outlook report for 2020 titled 'The Most Real 2020 Market Predictions you'll read'.
www.afr.com
0 Reply
355 Views
9Mo ago
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