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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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17 Views
22D ago
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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57 Views
1Mo ago
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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25 Views
1Mo ago
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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37 Views
1Mo ago
John
Price
Over the past 12 months, house rentals in most capitals have flourished, while unit rentals have suffered the steepest annual decline on record, stooping to the lowest asking price since early 2014, according to the Domain Rental Report for the December quarter.
“House rents are now at a record high following the steepest annual gain in just over a decade,” Domain’s senior research analyst, Dr Nicola Powell, said. “Units, on the other hand, recorded the steepest annual fall on record to reach the lowest asking rent since early 2014, led by declines in Sydney and Melbourne.” Sydney
Houses: $550 (+1.9 per cent)
Units: $470 (-5.1 per cent)
The divergence in house and unit rents has resulted in the largest price gap in Sydney’s rental market on record, according to Dr Powell. House rent growth is being supported by stronger conditions in Sydney’s outer areas such as the Blue Mountains and Central Coast, while Northern Beaches bucked the declining trend of unit rents with record high increases. For more details, visit: x
Best cities for rental performance revealed
COVID-19 has undeniably altered the property market in 2020, with a clear shift in tenant priorities affecting the price of unit rentals throughout the country.
www.smartpropertyinvestment.com.au
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142 Views
3Mo ago
Sam2019
Price
The next 12 months present an opportunity for regional New South Wales to clock further house-price growth, according to Raine & Horne.
Angus Raine, executive chairperson of Raine & Horne, said the 2020 has been a "watershed year" for regional NSW, which reported an average growth of 7% as more Sydneysiders fled the city lockdowns to the Central and South Coast, and many regional towns and cities. "While more listings might slow this level of growth slightly, I’m expecting markets in regional NSW to continue to roll through 2021 and well into 2022 as more city workers realise they can work remotely, still earn Sydney dollars but live regionally," Raine said. Source: x
Regional NSW primed for growth
Increased activity was not confined in big regional areas but also in smaller towns
www.yourinvestmentpropertymag.com.au
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38 Views
3Mo ago
Joshua
Price
During the November state budget, NSW Treasurer Dominic Perrottet revealed that stamp duty taxes could be reformed by mid-2021.
Acknowledging stamp duty as “one of the biggest financial barriers to home ownership”, Mr Perrottet said the current stamp duty system is “centuries old and in need of an overhaul”.
Explaining that residents need a modern tax system, Mr Perrottet said in his budget speech “this is the single most important economic reform we can tackle to turn the Australian dream into NSW’s reality”. “NSW’s higher-priced markets have performed well this year, while affordable property in more remote suburbs has borne the brunt of market challenges in 2020 – but I believe stamp duty reforms as currently proposed would change that,” Mr Viner said.
He opined that this could remove the huge impost of stamp duty for a swathe of low-priced homes.
“Purchasers will need less borrowings or deposit, and this is certain to stimulate activity for low-priced property that qualifies under the scheme,” Mr Viner said. Source: x
How NSW stamp duty reforms could deliver a bottom-...
The proposed changes to NSW’s stamp duty reform could be a shot in the arm for the state’s low-price property market, an industry expert has said.
www.smartpropertyinvestment.com.au
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197 Views
3Mo ago
InvestAus
Price
Survey results by Custodian have shown that investors have been waiting for good news on the health and economic front, with one in five looking to add to their portfolio over the next 12 months.
However, Custodian managing director James Fitzgerald believes investors who wait could be paying more, with Australia’s property market likely to grow quickly during the recovery. “The recent drops in interest rates and the RBA extending bonds from the normal three-year term to now five to 10 years means banks can now offer three to five-year fixed rate deals at well below 2 per cent.
“As a result, median house prices in Australia will accelerate to $1 million as early as 2023,” Mr Fitzgerald said. Continue reading at: x
When will Australia crack the $1m median house pri...
A property investor has predicted Australia’s median house price will surge to over $1 million in the next three years, as the economic recovery acts as a tailwind for the industry.
www.smartpropertyinvestment.com.au
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75 Views
3Mo ago
Sarthak
Price
The prospect of positive housing price movements, coupled with record-low interest rates, may drive many Australians to enter the property market, the latest data from financial comparison site Canstar has revealed. “For first home buyers, fear of missing out (FOMO) is back in the psyche with around three in every five millennials expecting prices to rise or at least hold stable.”
“Property price falls usually lag the start of recession and could still be ahead, but lenders are not expecting as deep or prolonged a correction as they were at the start of COVID-19, and confidence is on the rise all round.” Get full details at:x
Low rates spur positive outlook
“Home buyers are flooding into the market”
www.yourinvestmentpropertymag.com.au
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77 Views
4Mo ago
Ronie
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