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Harsha
John
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Digital property settlements platform Property Exchange Australia (PEXA) has released its Property and Mortgage Insights Report, which showed that the east coast of Australia was in the middle of a boom. NSW recorded the highest settlement volumes in the east coast of almost 218,700, marking a 25.8 per cent rise.
Held back by lockdowns, Victoria lagged behind at almost 199,000 settlements, representing an 11.7 per cent rise.
“Close to 80 per cent of capital city settlements procured were funded with a new loan, compared to only 66 per cent for regional settlements, suggesting metropolitan home owners are moving to regional areas to take advantage of lower-priced properties, flexible working arrangements and a change in lifestyle.”
Additionally, the report revealed greater consumer preference towards the major banks for new loans in NSW and Victoria, with the big four banks securing over 1,850 more new loans in May 2021 in Victoria. Get details at: x
Records keep tumbling in east-coast property boom
Australia’s booming property market has seen a record number of transactions and price growth, an industry expert has revealed.
www.smartpropertyinvestment.com.au
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Joshua
Price
The NSW state government has revealed its expectations for the local housing market as it looks to reform stamp duty in favor of a new land tax.
“As higher prices encourage more owners to sell, this will work to limit house price growth over time. In addition, higher prices are expected to price out more potential buyers, weighing on demand,” the budget papers said. “Speculation has emerged around the potential for renewed macro-prudential tightening by regulators in response to growing house prices. However, the concentration of lending growth in owner-occupier loans (rather than investors) suggests the current market conditions are less likely to evoke a response from regulators.” “That said, building approvals are now running well ahead of the change in population, which is depressed due to the lack of inward migration. This suggests a potential oversupply in the near term relative to the underlying demand for housing.” Source: x
NSW budget predicts house prices will peak in late...
The NSW state government has laid out its predictions for how and when the current housing boom will run out.
www.smartpropertyinvestment.com.au
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Karan
Ranjit
John
NSW’s Central Coast has seen some considerable property price growth since the start of the pandemic
The Central Coast has attracted a rising number of buyers from Sydney with its affordability, appealing lifestyle and improved infrastructure, but while the region has had a strong run over recent months, this could now be a thing of the past as sales plateau. The Central Coast was a major driver of auction clearance rates in the first quarter of this year, with CoreLogic reporting a combined capital city rate of over 80 per cent.
As reported by CoreLogic in April, lifestyle markets topped the auction ladder in the first three months of the year, with the Central Coast clocking a mammoth 86.7 per cent clearance rate.
It was also among the regions that saw the biggest year-on-year clearance rate increase of 46.2 per cent. “With more people moving to the Central Coast, companies based in Sydney may consider opening satellite offices in Gosford, Erina, Tuggerah and Wyong, which is on the train line,” said Raine and Horne Commercial Central Coast principal Brad Rogers said. Get details at: x
Have prices on the Central Coast peaked?
NSW’s Central Coast has seen some considerable property price growth since the start of the pandemic as Aussies rushed to secure a decent family home for the price of a tight Sydney apartment, but h...
www.smartpropertyinvestment.com.au
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Anuj
Price
The latest REA Insights report shows that property buyer demand is surging, which is fueling the rapid price appreciation being experienced across Australia.
First, REA’s weekly demand index, which “measures the change in the number of people that are highly-engaged with properties listed for sale on realestate.com.au”, is running near historic high levels, up 58.6% relative to the same time a year ago: Second, weekly ‘for sale’ searches are way above the same time last year across every market:
Continue reading at: x
Property buyer demand remains red hot - MacroBusin...
The latest REA Insights report shows that property buyer demand is surging, which is fueling the rapid price appreciation being experienced across Australia.
www.macrobusiness.com.au
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InvestAus
Price
Homeowners who sell their properties off market could be cheating themselves out of hundreds of thousands of dollars, housing experts have warned. Real Estate Institute of NSW president Leanne Pilkington said it made little sense to sell off market in the current booming housing conditions.
“Owners are more likely to get a higher price by going to auction where multiple groups can compete,” she said. Off market sales have become a trend in certain real estate circles is recent times. It generally involves an agent shopping an owner’s home around to their database without it being advertised or marketed. Get details at: x
Experts warn sellers against selling off market as...
Experts are warning homeowners to not make this simple mistake when selling their house, which nearly cost one seller nearly $500,000.
www.realestate.com.au
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Manish
Price
In news that may come to the relief of would-be buyers battling it out at auctions, over a third (35 per cent) of homeowners are planning on selling in the next five years, according to new research from Westpac.
The Westpac survey of 2,086 Australians aged 18 and over also found that over one in ten respondents (12 per cent) were already taking steps to put their house on the market or had intention to do so in the next 12 months. For those looking to buy, the pressure is on, as the latest CoreLogic figures found that national property prices grew by 2.1 per cent in February 2021: the fastest recorded growth rate since 2003.
Further, according to figures from the Australian Bureau of Statistics (ABS), new home lending hit $28.75 billion in January, an increase of 44 per cent year-on-year (in seasonally-adjusted terms). The total value of owner-occupier home loans settled in January surged by 52 per cent, year-on-year, to a record-high of $22.11 billion.
Meaning, there has been an influx of new homebuyers eager to win at the auction and get a foot on the property ladder. CEO of Real Estate Institute of NSW, Tim McKibbin, stated that the “run up to Easter” may be particularly busy, with the “market intensity of recent weeks set to continue”.
“Vendors are taking confidence from the strength of buyer demand and month-on-month price increases, with many bringing their plans to sell forward to capitalise on the rising market.
“This includes many investors who, if not for the prices currently being achieved, would not necessarily be considering selling,” said Mr McKibbin. Get details at: x
“Absolutely a seller’s market”: seller confi...
In news that may come to the relief of would-be buyers battling it out at auctions, over a third of homeowners are planning on selling in the next five years, according to new research from Westpac.
www.ratecity.com.au
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Joshua
Price
Suburbs in regional New South Wales rose as the best-performing regional markets in terms of price gains, according to the latest report from CoreLogic.
Richmond-Tweed claimed the top spot for houses after it recorded a 12.6% growth in median value in January. Houses in this region have a median value of $696,394. In terms of units, Southern Highlands and Shoalhaven performed the best. Units in the suburb have a median price of $484,642, representing a 17.9% annual increase.
Unit sales in the suburb rose by 34.6% while selling days shrank from 87 days to 60 days.
Tim Lawless, executive director for research at CoreLogic, said the level at which prices in regional markets increased was four times higher than that of capital cities.
"Demand for regional housing can be attributed to a range of factors. Generally, prices are cheaper than their capital city counterparts, housing densities are typically lower, which is likely to be appealing amidst a global pandemic, and many workers have a new found appreciation and ability to work remotely which is supporting additional demand," he said. Continue reading at: x
Regional NSW suburbs outperform peers
These suburbs reported the strongest median-price gains for houses and units
www.yourinvestmentpropertymag.com.au
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