We wanted to let you know
4
Celica Street, RUNCORN which is located at possibly the highest point of Runcorn, hence
classified as Runcorn Heights, away will have an Open Home this Saturday 19th
October 11 am to 11.30 am.
PRESENT ALL OFFERS Be
quick or miss out as there’s much interest in this property. This property represents
great value & won't last long.
Brisbane is showing stronger growth conditions across the middle to lower-valued properties where values are 0.8% and 0.7% higher over the quarter.
During the downturn, the middle to lower-priced segments of the market was also more resilient to falls than the top end.
They
found auction clearance rates bottomed in December and have been rising since.
But the improvement became much more marked from May onwards, while the change
in sentiment was driven by the combination of lower rates, easier access to
credit, and increased certainty around housing taxation.
The
recovery in prices has been driven by Sydney and Melbourne.
Prices
in the two cities stabilised in June after a period of decline, leaving them
down 15% and 11%, respectively, from their peaks.
Prices
are up 3% in both cities in the past three months, and ongoing buoyant auction
clearance rates point to more gains.
In
Brisbane and Adelaide prices appear to be stabilising after a period of modest
weakness (-3% and -1% from the respective peaks).
Hobart
prices now look to be stabilising after big jump since early 2016 where prices
have risen a cumulative 34%.
The
report said, "easier credit is helping to drive the quick rebound."
"We
had thought that the easing of the mortgage serviceability floor would be at
least partly offset by other tightening measures such as the updated Household
Expenditure Measure (HEM) and the introduction of comprehensive credit
reporting. But that has not been the case. We do, though, see credit conditions
remaining tighter than they were pre-Royal Commission."
"Nationwide,
we expect prices to continue to rise strongly through Q4, driven by Sydney and
Melbourne, after which we expect gains to moderate.
"We
have annual price growth for Sydney and Melbourne peaking in mid2020 in the low
double digits.
"Through
2020 we look for growth of 6% nationwide with a further gain of 4% through
2021. The risks seem tilted to the upside, alongside the risks for further
monetary easing," they added.
The
high volume of recent completions has not been replaced by new approvals and work
yet to be done is falling sharply.
Building
approvals have dropped sharply, driven by a renewed decline in major apartment
building approvals.
Property
developers are increasingly confident about access to credit, they found, while
reduced rates and APRA easing have increased demand.
While
strong population growth, low unemployment and relatively low vacancy rates
will support the recovery of construction activity, quality concerns may delay
the timing.
ANZ
forecast activity to trough in mid-2020 before picking up modestly.
Declines
in house prices over the past few years have improved a range of affordability
measures.
ANZ
Economists said, "the recent sharp turnaround in prices, however, will
ultimately reduce affordability, in Sydney and Melbourne in particular."
"Australia’s
arrears rate remains low by international standards."
"While
mortgage repayments generally are affordable given low interest rates, high
household debt leaves householders vulnerable."
"A
negative shock driving unemployment higher would be amplified by the high level
of debt," they concluded.
We wanted to let you know 4 Celica Street, RUNCORN which is located at possibly the highest point of Runcorn, hence
classified as Runcorn Heights, away will have an Open Home this Saturday 19th
October 11 am to 11.30 am.
PRESENT ALL
OFFERS Be quick or miss out as there’s much interest in this property. This
property represents great value & won't last long.
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