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Anuj

Anuj

Sydney
“Fragmented conditions in the rental market remain evident in the September quarter, with weaker unit rents compared to houses,” said Domain senior research analyst Dr Nicola Powell. “This is particularly so in inner-city areas, which are more susceptible to changes in overseas migration and international students, tourism and job losses associated with COVID-19. Sydney Domain’s research found that unit asking rents dropped further over the September quarter, representing a 4.8 per cent decline since March, or $25 taken from the median weekly asking rent. “Since March, house and unit asking rents in the city and east region have had the largest decline in Sydney – by $125 and $80 a week, respectively. This is followed by a $70 a week reduction to unit asking rents in the lower north shore. These are the only areas in Sydney to record double-digit percentage falls over this six-month period. Tenants are now paying the same price they were in 2013.” Melbourne The Victorian capital has seen the greatest decline in unit rents of all the capital cities – no doubt a result of the stage 4 lockdown. According to the research, unit asking rents dropped another $15 a week over the September quarter. Adelaide’s The city of churches also saw a new record over the September quarter, with Domain noting Adelaide asking rents reached $405 a week for houses and $340 for units. “Unit rents posted the strongest quarterly gain out of all capital cities, along with Perth. Affordability is becoming stretched – rental prices have recorded the highest annual growth since 2007 for units and 2010 for houses,” Dr Powell said. “Adelaide’s vacancy rate is once again on par with pre-pandemic March, as the estimated number of vacant rentals declines following a strong April bounce. The reduction in empty properties aligns to the easing of COVID-19 restrictions, perhaps reflecting the conversion of rentals back to holiday lets as short-term demand increases.” Continue reading at: x Units take price hit as rental value decreases New research by Domain has found that unit asking rents have seen the steepest annual fall nationally since 2004. www.smartpropertyinvestment.com.au
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Roma

Roma

Sunshine
Australia's regional markets are expected to record increased housing demand due to the COVID-19 outbreak's impacts on the economy, work arrangements, and house prices. The question, however, remains — will the outbreak cause a regional boom? In fact, the median dwelling value of all regional areas sits at $394,570, significantly lower than the combined capital city median of $641,671. To fully get an insight into whether the COVID-19 will bring a surge in demand in regional areas, Owen said it is crucial to examine the population insights prior to the onset of the outbreak. "Areas with the highest levels of net internal migration over the financial year 2018-2019 include the Capital Region of regional NSW, the Sunshine Coast, Melbourne — West, the Gold Coast and Ipswich. From these examples, there was already a trend of movement from more suburban or metropolitan areas to regional areas," Owen said. "Furthermore, it is important to note that the broad-based impact to housing demand from the pandemic could see prices fall in regional centres over the second half of 2020," Owen said. These price declines, however, are unlikely to be as sharp as what will be observed in capital city markets. "Regional growth rates peaked around late 2019, and could nudge into negative territory later this year without significant improvement to economic conditions or a demonstrated shift in demand side factors like population growth," Owen said. Source: x Will regional markets boom post-COVID? Several factors could influence the preferences of homebuyers, analysis shows www.yourinvestmentpropertymag.com.au
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