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Price, SA 5570 Review
Justprop Team member
Price
Government support packages have provided support to workers who lost their jobs because of the pandemic, as well as businesses that have seen their sales plunge. About 9 per cent of all housing loans were subject to repayment deferrals at the end of August, raising fears that once government coronavirus relief tapers off, a flood of homeowners could be forced to sell, putting more pressure on declining property prices. Lenders' initial six-month mortgage payment deferral periods are coming to an end for many borrowers and lenders are offering deferral extensions of up to four months for those who are unable to resume repayments. However, what happens after that remains a major concern. Read more: x
Property price warning as JobKeeper payments cliff...
Experts say there is likely more trouble ahead for property markets as government COVID-19 financial support tapers off.
www.smh.com.au
0 Reply
487 Views
20D ago
Royal
Price
Yesterday’s mortgage commitment data from the Australian Bureau of Statistics (ABS) continues to point to price falls for Australian property. As shown above, mortgage growth has historically been a strong leading indicator for price growth. Thus, the sharp decline in mortgage growth – from 16% in March to 6% in June – signals further falls in property price growth.
As you can see, mortgage growth has turned down across all major markets which, other things equal, points to falling property price growth. Source:x
Mortgage collapse points to further property price...
Yesterday’s mortgage commitment data from the Australian Bureau of Statistics (ABS) continues to point to price falls for Australian property. The next chart plots the annual change in the value of ...
www.macrobusiness.com.au
0 Reply
70 Views
2Mo ago
Anuj
Price
In concerning news for Australian investors, annualised growth in national rental values was just 1.1 per cent in the five years to June 2020, while annualised growth in the selected living cost index was up at 1.4 per cent in the five years to March 2020.
The information comes from CoreLogic’s June 2020 Quarterly Rental Review, which noted the impact COVID-19 has had on rental figures nationwide.
Prior to the fall in rent values that did occur over the June quarter, CoreLogic’s head of research Australia, Eliza Owen, said growth in rents had seen some momentum building, “with the national CoreLogic rental index recording consecutive increases between September 2019 and March 2020”. CoreLogic also indicated that the drop brought rents down 0.5 per cent for the June quarter – the largest quarterly fall in rent values seen since September 2018.
It’s a sign of things to come, with CoreLogic expressing that it expects to see further falls in the coming months. Get details at: x
Rental price outlook offers bad news for investors
Increases to the price of rents Australia-wide have not kept pace with general costs of living over the last five years, analysis has revealed.
www.smartpropertyinvestment.com.au
0 Reply
96 Views
3Mo ago
Joshua
Price
Australia Property can often be bought for a lower price – if you include an extra sentence in your offer.
Including an extra sentence that compares your offer to the seller’s minimum price in a negotiation increases the likelihood of you getting what you want, finds research from ESMT Berlin.
Most people assume that you can either be friendly in a negotiation and satisfy your counterpart or get exactly what you want, but these two outcomes do not have to be mutually exclusive.
Martin Schweinsberg, Assistant Professor of Organisational Behaviour, alongside Michael Schaerer of Singapore Management University and Roderick Swaab from INSEAD, studied how negotiators can achieve both economic benefits and maintain a friendly relationship with those you’re negotiating with. “Imagine trying to buy a house where the seller’s target price is $580,000 and their minimum price is $320,000,” says Professor Martin Schweinsberg.
“Instead of just saying “my offer for the house is $450,000”, adding the sentence of “how does this compare with the minimum price you are willing to accept?” increased the chances of the buyer’s offer being accepted, and made the counterpart happier.
“This demonstrates that how an offer is perceived is subjective depending on how the offer is framed and that it is possible for a negotiation to be nudged to have a ‘win-win’ outcome.” Continue reading at: x
Australia Property: how to get what you want • A...
Australia Property can often be bought for a lower price – if you include an extra sentence in your offer. Including an extra sentence that compares your
www.thinkingaustralia.com
0 Reply
101 Views
3Mo ago
InvestAus
Price
“So far, property value declines have been fairly mild. Nationally, the May home value index results show that the dwelling market declined just 0.4 per cent over the month, and preliminary indicators for June are showing the rate of decline has gathered some momentum through the month.
“However, the Australian housing market is not one market, but a collection of many. Over the past few months, dwelling market performance has varied by region, in both a cyclical and structural way,” Ms Owen explained.
The top 10 markets seeing the biggest property price falls are:
Mandurah (WA): -2.2 per cent
Greater Melbourne Melbourne - Inner South: -2.2 per cent
Greater Melbourne Melbourne - Inner: -1.8 per cent
Greater Melbourne Melbourne - Inner East:-1.8 per cent
Greater Perth Perth - South East: -1.2 per cent
Greater Melbourne Melbourne - Outer East: -1.2 per cent
Greater Brisbane Ipswich: -0.8 per cent
Greater Sydney Sydney - North Sydney and Hornsby: -0.7 per cent
Greater Sydney Sydney - Inner West: -0.7 per cent
Greater Sydney Sydney - Northern Beaches: -0.7 per cent
“Unsurprisingly, Melbourne’s inner city and eastern suburbs have seen the largest decline across the metropolitan region, and the past two months have seen a decline in values across some high end markets in Sydney, such as North Sydney, the Inner West and the Northern Beaches,” Ms Owen said. “International border closures in response to COVID-19 may have created a significant demand shock, which had interrupted a recovery in the Perth - South East region. Prior to this, dwelling values in the area had seen four consecutive months of growth between December 2019 and March 2020.”
Ms Owen noted at a suburb level, the biggest price falls are more reflective of the historic cyclical trends, “where the downturn is most prevalent in the high end of Sydney and Melbourne this far”. Source: x
10 areas where property prices are falling
New research has identified the top 10 areas recording the greatest change in dwelling market values from 31 March to 31 May.
www.smartpropertyinvestment.com.au
0 Reply
76 Views
3Mo ago
Justprop Team member
Price
National house prices declined by 0.7% in June, with Perth and Melbourne reporting the most significant decrease at 1.1%. Of all capital cities, only Hobart, Darwin, and Canberra reported gains in dwelling values of the month.
This downward pressure on home values is considered mild, with capital cities recording a cumulative decline of 1.3% over the past two months, said Tim Lawless, head of research at CoreLogic. "These factors have helped to keep urgent sales off the market, providing further insulation to housing values," he said.
In fact, despite the decline in values, the market remained busy over the month with a 29.5% estimated sales growth, extending the 21.5% surge in May.
On an annual basis, prices maintained their solid position, with Sydney and Melbourne recording double-digit upswings of 13.3% and 10.2%, respectively. Source: x
Small decline in house prices
What could be insulating the housing market from a more substantial decline in dwelling values?
www.yourinvestmentpropertymag.com.au
0 Reply
77 Views
3Mo ago
Liam
Price
Source: x
Property prices led lower by top-end - MacroBusine...
Via CoreLogic: There are 313 words left in this subscriber-only article.Start your free 14-day trial today!YOU MAY ALSO BE INTERESTED INWestpac wins responsible lending appealVia Westpac: Westpac Bank...
www.macrobusiness.com.au
0 Reply
79 Views
4Mo ago
Justprop Team member
Price
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
The six-bedroom home at 80 Cubberla Street in Fig Tree Pocket sits on a massive 1.09 hectare (10,900sq m) block and has more than 60m of river frontage. The property was marketed at more than $3 million by Josephine Johnston-Rowell of Johnston Dixon.
The agency’s chief executive John Johnston yesterday confirmed the sale.
“The property was aimed in the $3 millions and that’s where it sold,” Mr Johnston said.
The price is believed to be the highest fetched by a Brisbane property since the pandemic restrictions were eased. Get more info at: x
Eased COVID-19 restrictions spark huge Brisbane sa...
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
www.realestate.com.au
0 Reply
78 Views
4Mo ago
InvestAus
Price
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
The six-bedroom home at 80 Cubberla Street in Fig Tree Pocket sits on a massive 1.09 hectare (10,900sq m) block and has more than 60m of river frontage. “The property was aimed in the $3 millions and that’s where it sold,” Mr Johnston said.
The price is believed to be the highest fetched by a Brisbane property since the pandemic restrictions were eased. “We’ve had multiple people try to buy it before auction and post. This buyer hung in there, went cool when the virus first hit but now that the sky seems to be clearing very quickly, they reaffirmed their genuine interest in what is a landmark riverfront property.” Source: x
Eased COVID-19 restrictions spark huge Brisbane sa...
A riverfront home has sold in Brisbane for what is believed to be the Queensland capital’s highest price since COVID-19 restrictions were eased.
www.realestate.com.au
0 Reply
78 Views
4Mo ago
Justprop Team member
Price
As Gary Brinkworth, the boss of the Herron Todd White valuation firm recently noted, some observers are expecting a subtle slowdown, while others predict a catastrophic collapse.
He added it can be difficult to keep up as markets adapt to the challenges around COVID-19.
“Some locations have seen monumental disturbance to their usual state of affairs, while others have barely registered a ripple,” he said. “COVID-19 has amplified the diversity of Australia’s resident property markets by location, price point and property type.”
Well informed valuers, like well informed estate agents, have the best insights on price direction. The slowdown in volumes of transactions in inner Sydney and the eastern suburbs made it difficult to ascertain any emerging pattern but HTW advised that in previous downturns the inner city market segment was most vulnerable to volatility in the upsizer price bracket, typically from $2 million to $3 million. Get more details at: x
Coronavirus impact on property market uncertain, a...
The impact of the coronavirus on the property market is a contentious topic, with some observers expecting a subtle slowdown, while others predict a catastrophic collapse.
www.realestate.com.au
0 Reply
94 Views
4Mo ago
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