Migration driving expected Queensland property surge
In a year riven with uncertainty, one reliable constant has been the surge towards properties and locations that offer a reprieve from the restrictive aspects of the pandemic. Brisbane and the surrounding coastal cities of Queensland have been a beneficiary of this flight to safety and sunshine throughout 2020, and forecasters are seemingly unanimous in their expectation that this year will see strong price growth. ANZ recently forecast that Brisbane would attract house price
Record-high house prices expected to keep rising
House prices have been predicted to continue rising even after hitting a record-high across all markets in January, as the Australian economy continues its rapid recovery. CoreLogic’s monthly look at house prices showed every capital city and rest-of-state region recorded an increase in median values over the month, with its national index rising by 0.9 per cent. Darwin was again the best performing capital with a 2.3 per cent rise, followed by Perth and Hobart at 1.6 per cen
Why Victorian property demand is exceeding supply
Victorians considering selling their properties would be well-served to act fast, with market conditions currently heavily weighted in favour of vendors. As 2021 kicked into gear, so did buyer search volumes. On 17 January, realestate.com.au recorded a 50 percent increase in web searches for residential properties for sale in Victoria, compared to the same time last year. Nationally, the story’s the same – buyer search volumes in the same category are up an average of 48.5 pe
'Extraordinary' conditions continue in Brisbane seller's market
Brisbane property buyers have shrugged off the city’s brief early January lockdown, with selling and buyer’s agents alike predicting some of the best market conditions in more than a decade to continue throughout 2021. Position Property director Richard Lawrence said a surge of buyer demand was reverberating through Brisbane, following his agency recording record sales in December and the city’s median house price surging by 1.4 per cent to $720,000. Mr Lawrence described the
Buyers return to the market in numbers, prompted by rate freeze
Capital city clearance rates are picking up as low borrowing costs are touted to stick around for another few years, with all cities recording rates of above 70 per cent in the week ending 7 February. According to the latest CoreLogic Property Market Indicator Summary, 1,287 homes were taken to auction across the combined capital cities last week, which resulted in a preliminary auction clearance rate of 83.8 per cent. This means that over four in five homes, country-wide, so
Australia’s Property Boom Is Underway
It’s been almost 20 years since we had a genuine nationwide property boom in Australia – but we have one now. Markets across the nation can be reasonably described as frenetic. Properties are selling within days of being listed for amounts well above the asking price. Often homes are selling even before being formally marketed, because there is so much competition from buyers. In 2020 the strength we saw in markets across Australia was driven by owner-occupiers, including fir
Rates Cut 6,777 Times In 2020
Historically low interest rates have seen lenders make almost 7,000 rate cuts to home loan products throughout 2020 – but borrowers appear disinterested in getting a better rate. Figures collated by Canstar show that in 2020 lenders reduced 6,777 different home loans by an average of 0.30 percentage points. These include 2,455 reductions to fixed rates for owner-occupiers, with an average cut of 0.33%, while 880 decreases were made to variable rates for owner-occupiers, with
Regional NSW outpacing Sydney for property price growth
Regional NSW is outperforming Sydney’s property market, with an influx of demand from tree- and sea-changers sending prices soaring in popular pockets. Dwelling prices across the state have risen at almost double the rate of values in Greater Sydney, according to the latest quarterly Domain House Price Report, released on Thursday. Sydney’s median dwelling value, based on both unit and house sales, was up 4.5 per cent year-on-year to a median of $1,012,778, while the median a
Brisbane property market update - January 2021
The New Year has seen very strong buyer activity throughout Brisbane. After a small Covid-19 scare causing Greater Brisbane to go into lockdown on the weekend of January 9-10, buyers have since been out in force inspecting and buying properties around the City. This article will explore in more detail what we are seeing on the ground and also what the market indicators are telling us. The latest Australian Bureau of Statistics (ABS) figures show that new loan commitments for
Gold Coast, Sunshine Coast rents rise after exodus of sea-changers from capital cities: Domain Rent
South-east Queensland’s hottest coastal hubs could be on the brink of a rental property bidding war after median asking prices rose to record heights late last year – outstripping Brisbane by as much as $60 per week. Following a mass exodus of sea-changers from the nation’s major capital cities, demand for houses on both the Sunshine Coast and Gold Coast skyrocketed over the three months leading up to December, sparking price rises of almost four per cent in just three months
