Wednesday, December 29, 2021
Tuesday, December 7, 2021
Monday, December 6, 2021
Thursday, November 11, 2021
Sunday, November 7, 2021
Officially #undercontract We sat down with our #tenants six days ago to share with them how differently we look after them during a tenanted sale and we were true to our word http://ljgrealestate.com.au/property/4-yovan-court-loganlea-qld-4131/ #ljgrealestate #propertyinvestment #propertymanagers since brand new #tenantedsales #respectful of everyone’s rights #propertymanagement #propertysales ❤️
Wednesday, October 27, 2021
Sunday, October 24, 2021
Saturday, October 23, 2021
Wednesday, October 20, 2021
Friday, October 15, 2021
Tuesday, September 28, 2021
Thursday, September 23, 2021
This lovingly looked after investment property which we’ve managed since new and at “offers over $420k” will be launched for #sale shortly #freshwaterestate #northlakes #localagents since 1996 #management and #build #lowturnover of #tenants since the beginning #threebedrooms #ensuite #courtyard #block 368 sqm Text 0400 833 800 for arranging inspection due to tenants respect and privacy #ljgrealestate #propertymanagement #property #propertyinvestment #sales #yield #schoolcatchment #wearepropertyowners
Monday, September 20, 2021
Saturday, September 18, 2021
Saturday, September 11, 2021
MURRARIE PROPERTY INVESTOR TESTIMONIAL 11 9 21
We highly recommend L.J.Gilland Real Estate. They have provided excellent property management over the many years we have been associated with them. Linda and Carlos go the extra mile in advising us of any problems concerning our properties, and always follow up with the best solutions. They are the best.
John and Wendy Brisbane CBD
Tuesday, September 7, 2021
Caboolture large land Sale
New to sale market and with large land http://ljgrealestate.com.au/property/244-king-street-caboolture-qld-4510/
Monday, September 6, 2021
Tuesday, August 24, 2021
Monday, August 23, 2021
Monday, August 9, 2021
Wednesday, August 4, 2021
3/17-19 Magree St, Kallangur QLD 4503 - LJ Gilland Real Estate
AIR COND T/HOUSE IN QUIET WELL SOUGHT AFTER LOCATION, WALKING DISTANCE TO SCHOOLS. SHOPS & DAYCARE. Rent: $315
Available: 17/08/2021
https://ljgrealestate.com.au/.../3-17-19-magree-street.../
Friday, July 23, 2021
Wednesday, July 21, 2021
Friday, July 2, 2021
Thursday, July 1, 2021
Brisbane lockdown extended: "We need another 24 hours"
Queensland Premier Annastacia Palaszczuk has announced lockdowns will be lifted for much of Queensland this evening as planned, but the detection of two new cases who visited numerous central Brisbane sites means the state capital's restrictions will be prolonged for an extra day.
The ongoing lockdown will apply to both the Brisbane City Council and Moreton Bay Regional Council areas, after a mother and daughter from Carindale got tested yesterday and returned positive COVID-19 results. A third locally acquired case has also been reported - the partner of a case from yesterday.
"They had been out quite extensively around Brisbane," the Premier said.
"Because our contact tracers need that extra time, we need another 24 hours," she said.
"We will come back early tomorrow morning once our contact tracers get on top of this, and we'll look at the case numbers overnight."
Chief Health Officer Dr Jeannette Young revealed several venues the mother and daughter had visited:
Harris Farm Markets, West End - Sunday, 26 June (11:50am-1:50pm)
Woolworths, West End - Sunday, 26 June (approximately 1:50-1:55pm)
Greek Orthodox Community Centre, South Brisbane - Monday, 28 June (most of the day)
Greek Orthodox Community Centre, South Brisbane - Tuesday, 29 June (most of the day)
Espresso Engine, Turbot St - Tuesday, 29 June (7:20-7:30am)
Woolworths Metro, Turbot St - Tuesday, 29 June (9:30-9:35am)
JB Hi-Fi, Albert St - Tuesday, 29 June (12:20-12:30pm)
Zara, Queen St - Tuesday, 29 June (12:30-12:41pm)
Mecca Maxima, Queen St - Tuesday, 29 June (12:42-12:50pm)
"We will get more information but you can see there's a lot of venues there that we're now going to have to go and contact trace," Dr Young said.
"I also need to know whether they're linked to any of our current Delta outbreaks, because of course, that's more contagious, or whether to our Alpha outbreak related to the Portuguese centre.
The local government areas (LGA) where the lockdown will end tonight are Noosa, Sunshine Coast, Ipswich, Logan, Redlands, Gold Coast, Scenic Rim, Lockyer Valley, Somerset and Townsville, but some restrictions will still apply in these regions for the next two weeks.
"That means everyone will have to carry a mask on them and wear that mask whenever they're outside of their home, but of course not when you're driving your vehicle," the Premier said.
"This is our added protection at the moment until everyone gets their vaccine."
The Premier will also be calling for a 50 per cent reduction in Queensland's international arrivals intake at today's National Cabinet to reduce pressure on the health system.
Updated at 8:55am AEST on 2 July 2021.
Tuesday, June 29, 2021
Friday, June 25, 2021
Wednesday, June 23, 2021
Thursday, June 17, 2021
Wednesday, June 2, 2021
Monday, May 31, 2021
Monday, May 24, 2021
Sunday, May 23, 2021
http://ljgrealestate.com.au/rental/15-esk-place-kallangur-qld-4503/
INGROUND SALTWATER POOL! CUL-DE-SAC POSITION! OPEN HOME 26-5-21 5.30 PM - 6 PM
Thursday, May 20, 2021
Wednesday, May 19, 2021
Saturday, May 15, 2021
Monday, May 3, 2021
Brisbane
Greater Brisbane house prices are at a new record high at $632,999. House prices have risen modestly for seven consecutive quarters, up a further 1.7 per cent over the March quarter. This is 6.2 per cent higher than the same time last year. This has provided homeowners with steady capital growth. First-home buyers saving a lump sum will welcome consistently modest growth, as well as support from incentives and cheap credit. Brisbane still has a two-speed market, with unit prices falling over the quarter and year, down 0.5 per cent and 1.1 per cent lower respectively. Affordability has improved for buyers who are paying a multi-year low for a unit at $398,612. The divergence of house and unit prices has made the value gap between purchasing a house and unit the largest on record.
The Gold and Sunshine Coasts continue to be standout performers, although the pace of price acceleration appears to be easing on the Gold Coast. Prices hit new records on the Sunshine Coast, with houses providing some of the strongest rates of annual growth across Australia. Sunshine Coast house prices increased 6.9 per cent over March to $770,000, a staggering 19.4 per cent higher than one year ago. Units on the Sunshine Coast jumped 10.2 per cent over the quarter to $550,000, 18.3 per cent higher than last year. This is the quickest rate of price increases in roughly 17 years. Gold Coast houses hit a new record high at $749,950 following a 4.2 per cent quarterly increase, lower than previous quarter. Unit prices on the Gold Coast weakened 1.2 per cent over the quarter to $479,400.
South-east Queensland's housing market has become increasingly popular to interstate buyers. The number of Australians relocating to Queensland from other states is at its highest level since 2006. COVID-19 has been the driver of change, accelerating an exodus from the larger cities of Sydney and Melbourne, and shifting residents across state borders - Queensland has been the population winner. Changed lifestyle preferences post-lockdown and the option of remote working has driven demand to south-east Queensland as buyers are drawn by affordability, liveability, climate and greater value for money.
Median Price
March 2021 QoQ Change
HOUSES
1.7%
Median Price $632,999
UNITS
-0.5%
Median Price $398,612
Friday, April 23, 2021
Property boom now calming
Cooling off
Interesting update from Tim Lawless of CoreLogic confirming that the property boom is calming down.
Prices are still rising, but at a less furious pace now, across all of the main capital cities.
There are also now finally more listings coming on to the market.
Furthermore, there's a detached housing building boom underway, at a time when there's very low population growth.
The immutable laws of supply and demand are doing their thing.
Analysts also expect the housing booms in the U.S. and the UK to slow in H2 2021.
Thursday, April 22, 2021
Sunday, April 18, 2021
Saturday, April 17, 2021
Rents 17-4-21
Rents in Australian capital cities are rising again, according to a report released today. The rental sector has lagged behind its property sales counterpart in early 2021, but according to new research from Domain, it is now on the rebound across the country and numbers are already surpassing previous peaks.
"What we are seeing is a lift in rents across the country, but it's certainly not uniform, even across the capital cities," said Domain's Senior Research Analyst, Dr Nicola Powell. "We're seeing that inner city locations are weaker compared to outer and even regional areas, where rent growth has been very strong."
For brokers and property investment clients, it represents a return to form for the rental sector. In recent months, First Home Buyers had overtaken investors within the market, but with vacancy rates falling and rents rising, the potential for return on investment is back.
"Gross rental yields, which are what investors might look towards, are varied across capitals," said Powell. "When you look at the forecast for property price growth, allied to increasing rents in some cities that have been seeing multi-year downturns – Perth springs to mind – I think it's understandable why some of these markets will lure investment activity."
One of the key drivers behind the growth in rents has been the movement from inner cities to suburbs and regional areas that came about due to the pandemic.
"During the pandemic, that was a trend," said Powell. "If you look at the rental market, there is less friction in moving and its easier for a tenant to relocate than it is for a homeowner who has to sell up and purchase a new property. I think the change has been quite rapid in the rental market."
"If we look towards the future, the question is whether these trends are here to stay. Particularly when we're seeing rental growth in inner city areas, especially in inner Sydney, which was most disrupted by rents. What we've now seen over the quarter is rents in these areas either holding steady or increasing."
"We might be now seeing a turn of events where some people migrate back into the city as we go back into the office or revert to a more hybrid working environment. We have seen a trend of people moving to 'lifestyle' locations, and strong rental growth in places like the Northern Beaches in Sydney or the Mornington Peninsula in Melbourne, as well as regional areas, but my view is that, long term, for capital growth or rental growth, it will be those regional locations that are connected to a central working hub."
Friday, April 16, 2021
This lowset beauty is positioned in a fantastic quiet Strathpine pocket on a large block walking distance to everything and has enjoyed some fabulous upgrades you will love. Centrally located a short walk to rail, schools, shops as well as being a stone’s throw to the new Petrie university site.
Features:
* This solid brick veneer and tile 4 bedroom home, set on 607m2 in a terrific location close to shops, transport, and schools
* Quality location, walk to rail, schools, and shops
* Huge back covered entertaining area runs the whole length of the home http://ljgrealestate.com.au/rental/159-kensington-way-bray-park-qld-4500/ @ Bray Park, Queensland, Australia
Wednesday, April 14, 2021
Thursday, April 8, 2021
Plans for an eight-storey commercial building neighbouring one of Brisbane’s oldest churches have been lodged with the Brisbane City Council.
The Catholic Church’s Archdiocese of Brisbane engaged architects BVN to design the mixed-use building, which incorporates a function space, communal rooftop and public area, on the site of the state-heritage-listed St Patrick’s Church at 58 Morgan St, Fortitude Valley.
A spokesman for the Archdiocese of Brisbane said the code-assessable development application was lodged on behalf of the parish of St Stephen's Cathedral.
“The driving force behind this application is the need to ensure the parish can financially support its ageing St Patrick’s church, which has been part of the community for more than 140 years,” he said.
“The parish also maintains the historic St Stephen’s Cathedral, which requires ongoing maintenance.
“Both churches have long-standing roles in their communities and we want them to be places of gathering for another 150-plus years.”
The spokesman said the proposed development would retain the current setting of St Patrick’s Church and that it reaffirmed the cultural significance of the gothic church in the area “without impacting on the fabric of the existing church building”.
▲ A three-storey high outdoor garden room helps to safeguard views to the gothic 19th century St Patrick's Church. Image: BVN
▲ A three-storey outdoor garden room would help safeguard views to the gothic 19th century St Patrick's Church. Image: BVN
The proposed building would be built on the vacant southeastern portion of the 10,690sq m site with a 2441sq m footprint, covering about 23 per cent of the parcel of land.
It has been designed to safeguard the views of the 19th century gothic church from James and McLachlan streets.
The development will include two basement levels to accommodate 132 car parking spaces and 88 bike spaces on the ground floor, along with a lobby for the office tower, and function space on the ground and first floors.
Levels two to seven will provide commercial office space.
The rooftop will include a green roof to reduce heat absorption, as well as an outdoor terrace space. The building will provide a total of 13,270sq m of gross floor area.
#Heritage
#BVN
#Catholic Archdiocese of Brisbane
#St Patrick's Church
#58 Morgan St, Fortitude Valley
#Catholic Church
Thursday, April 1, 2021
Pete Wargent Daily Blog: Lending eases, tilts to investors
Pete Wargent Daily Blog: Lending eases, tilts to investors: Lending cools The first signs of caution, with owner-occupier lending pulling back by 1.8 per cent to $21.7 billion in February. Investment ...
Tuesday, March 30, 2021
Queensland has reported eight cases of community transmission overnight linked to two distinct clusters that have emerged, both arising from workers at the PA Hospital.
In total, 10 new cases of COVID-19 were detected including two cases in hotel quarantine, after the state's capital went into a three-day lockdown at 5pm yesterday.
Six of the community transmission cases are close contacts of confirmed cases, while two are still under investigation but are believed to be linked to a known historic infection.
There are now 78 active cases of COVID-19 in Queensland's hospitals, with the majority acquired overseas.
Based on genomic testing, the clusters have been divided into two groups: one connected to a doctor at the Princess Alexandra Hospital, and the other to a nurse from the same medical facility.
Of today's cases, five are linked to the nurse and her sister, and all attended a hen's night party in Byron Bay over the weekend. One of those five is a man living on the Gold Coast – an entertainer at the event.
The new cases come after 14,589 Queenslanders got tested for COVID-19 yesterday.
"We have seen a rapid escalation in testing numbers, which is fantastic, so we can find if we have further spread anywhere," Queensland chief health officer Dr Jeannette Young said.
With an influx of overseas travellers from Papua New Guinea, the number of active cases in Queensland's hospitals has ballooned in the space of a month, up from five in late February to 78 today. Of the total active cases, 65 were acquired overseas.
Palaszczuk notes new mandates for health professionals working with COVID-19 cases are coming into effect, ensuring all health workers in Queensland's coronavirus wards have received at least the first of two vaccine doses.
In terms of vaccination efforts, the Premier notes 89 per cent frontline healthcare workers and hotel quarantine workers have received at least the first jab.
Palaszczuk notes the call to place Brisbane into lockdown yesterday was the right one, considering the number of new cases reported today.
"We want to get on top of this community transmission, so the steps that we took to go into this lockdown, as you can see by those numbers of community transmission today, was absolutely the right call," says the Premier.
Queensland Health continues to provide updates on locations where COVID-19 cases visited. Late yesterday Brisbane CBD locations were added, including the Hanwoori Korean BBQ Restaurant and the Wintergarden carpark, while other locations have been added including a cafe near the Mater hospital, and a gym in Morningside.
New South Wales is also on high alert in response to the outbreak in Queensland after confirmed cases visited a number of venues in Byron Bay.
While no new cases were recorded in NSW overnight, the state's Premier Gladys Berejiklian said "we need to brace ourselves".
Updated at 10.29am AEDT on 30 March 2021.
Thursday, March 25, 2021
Wednesday, March 24, 2021
Stamp duty rated as the most inefficient tax in Australia
Across all levels of government, whether federal, state or local, the current stamp duty regime is the most inefficient and should be abolished, according to Housing Industry Association chief economist Tim Reardon.
HIA recently joined a chorus of industry groups calling for the abolition of stamp duty after the NSW treasury proposed replacing the longstanding regime with an annual property tax.
MPA contacted Reardon for a discussion on how the new proposed levy would compare.
He pointed to the Henry tax review published in 2010 which found that the cost of stamp duty equated to 70 cents out of every dollar raised, making it, not only inequitable, but, the most inefficient tax in Australia.
“Almost any other form of tax will achieve a more efficient outcome,” he told MPA. While he wouldn’t comment on whether the annual property tax proposed by the NSW government would be the best solution, he said the abolition of stamp duty in the state was a good thing.
“The objective is to abolish stamp duty and this certainly moves towards that outcome,” he said.
Read more: HIA joins growing call to abolish stamp duty
Stamp duty as it currently stands is both inequitable and unreliable, he explained. Those who were required to move last year to seek new education or employment opportunities because of the pandemic incurred a punitive rate of tax if they purchased a new home.
“With retirees or elderly Australians that might like to move to be closer to family or to be closer to medical services, they likewise would be penalised if they were to buy a home to locate to,” he said. “It’s unreliable - as we saw both in 2018 and again last year, at a time when the government needed a reliable source of revenue, stamp duty revenue fell away very quickly. It particularly happened in NSW in 2018 where a small slowdown in house prices led to around a $500 million reduction in stamp duty revenues.”
While not reviewed by the Henry tax review, an annual property tax could potentially reduce the efficiency costs that are currently involved through a number of factors, he said.
“Because it doesn’t distort household behaviour, such as influencing your propensity to move, the efficiency costs are significantly lower,” said Reardon. “Because it encourages efficient use of land, its efficiency costs are much lower. Because it then means for other factors, such as allocation of public health resources and the allocation of expenditure on infrastructure, because those two also become more efficient, you get a significant efficiency improvement over and above the stamp duty regime that currently exists.”
REINSW CEO Tim McKibbin recently told MPA that an annual property tax wouldn’t benefit all segments of the market, especially cash-poor retirees who may not be able to afford the extra yearly cost.
Read more: Stamp duty change could mean a 50% surge in property sales
“We have people in properties that don’t respond to their current needs, but they are going to stay there,” he said. “Stamp duty or property tax is not providing any incentive to move.”
Reardon said the transition from stamp duty to any other form of tax would be difficult, but that the benefits of abolishing the current regime were clear.
“I think all political parties, governments and economists certainly agree that abolishing stamp duty is a good outcome but it is that transition that is the difficult part,” he said. “The community benefit, the economy-wide benefit, from abolishing stamp duty is sufficient that any individual households that are worse off can be appropriately compensated.
“The ACT have provided the slow transition model and they are doing it over a course of 20 years. NSW are looking at an opt-in model, which would mean that only those households that elected to defer that payment would incur that ongoing annual cost - which would mean that the impact on retirees that are asset rich and cash poor would be minimised.”
Related stories:
REINSW repeats call for lower stamp duty rates
What stamp duty changes could mean
Monday, March 22, 2021
Brisbane breaks record for low vacancy rates, while Melbourne rate doubles in a year
Vacancy rates in Brisbane have broken a decade long record, according to SQM Research. The news comes as vacancy rates in Melbourne and Sydney trend in the opposite direction, with the Victorian capital in particular showing twice as many vacant rental properties as last year.
Brisbane finds itself with just 1.5% of properties on the rental market unoccupied, marking a significant supply problem for that market. Dr Diaswati Mardiasmo, Chief Economist at Queensland-based real estate firm PRD, said that it was partly due to the pandemic and partly due to pre-existing factors that had seen Australia’s biggest two cities struggle.
“The only places that aren't having fun with vacancy rates are Sydney and Melbourne, where they're going up,” said Dr Mardiasmo. “Regardless of whether you look for a one year, five year or 10-year perspective, they're going up.”
“We can't blame them, because they are the cities that have suffered the most in terms of lockdowns. They’ve lost internationally open economies, student and business travellers, import/export, everything. Compared to Perth, Canberra or Brisbane, they're much more open. In some ways, it's ironic that the two big cities that have done best in terms of economic activity and house prices are the ones that are hit hardest when it comes to vacancies.”
“The Real Estate Agency of Australia (REAA) puts a healthy benchmark of 3% for vacancy rates, which is considered the natural state where supply and demand are balance. Sydney is 3.3%, which for what they've gone through, is not much above the benchmark. Melbourne is higher, but they've gone through a lot too and I don't see it as a catastrophe. History tells you that they're usually lower than the benchmark, so this is an extraordinary event.”
While COVID was an obvious shock to rental markets, it was just the most recent part of a wider trend that has seen vacancy rates rise in Sydney and Melbourne.
“The jump pre-COVID was because of people leaving the cities due to lack of affordability,” said Dr Mardiasmo. “There was also a migration of people outside of Sydney, particularly to Brisbane and the Gold Coast. At the same time, this was when quite a few developments hit the Sydney market, so there was a little more supply. As a result of what happened between 2015 and 2017, the government approved a lot of development. That altered the supply and demand, which altered the vacancy rates. And then COVID hit, which sent it up further.”
The data reported in SQM’s research puts Australian cities in an unusual position, where some markets are over-saturated by supply, and others by demand.
“In a lot of ways, it's a double-edged sword,” explains Dr Mardiasmo. “Sydney and Melbourne have had that much development that they have to consider how to get their vacancy rates down, whereas in other capital cities, because they didn't do a lot of development prior, there are now so many rents who can't find a place to rent. There's no immediate supply. Everyday you hear about people apply for 10 or 20 rentals and not getting anything. You hear that the market is so hot right now that you have to sign papers when you come to the open house because there's 20, 30, 40 people inspecting the same property.”
Tuesday, March 16, 2021
Sunday, March 14, 2021
Monday, March 8, 2021
Vacancy Rates: February 2021
Capital city rental vacancy rates – February 2021
Feb-21 Jan-21 Feb-20 MoM ∆ YoY ∆
Sydney 2.8% 2.9% 2.6% ↓ ↑
Melbourne 4.7% 4.6% 1.6% ↑ ↑
Brisbane 1.4% 1.6% 2.1% ↓ ↓
Perth 0.7% 0.7% 1.8% – ↓
Adelaide 0.6% 0.6% 0.8% – ↓
Hobart 0.5% 0.4% 0.6% ↑ ↓
Canberra 0.8% 0.9% 1% ↓ ↓
Darwin 0.8% 0.8% 3.2% – ↓
National 1.9% 1.9% 1.7% – ↑
Note: The vacancy rate represents the portion of available, empty rental properties relative to the total stock of rental property. The rental vacancy rate is based on adjusted Domain rental listings and will be subject to slight revisions over time.
Nationally, the vacancy rate held steady in February at levels recorded before the pandemic, at 1.9 per cent. This is the lowest vacancy rate since March 2020, the month before the COVID-19 induced peak of 2.6 per cent in April 2020.
In certain areas, competition between tenants will be fierce as tight vacancy rates remain across some capital cities. Many tenants will find themselves operating in a landlords market and should brace for rental price hikes.
February was a month with mixed results across the capital cities. Vacancy rates in Sydney, Brisbane and Canberra continued to tighten, while Melbourne and Hobart rose. Perth, Adelaide and Darwin vacancy rates all held steady.
As February draws to a close, the longer-term annual growth figures show the true extent of how COVID-19 has affected capital city rental markets since February 2020, a month before the beginning of the pandemic.
Melbourne and Sydney vacancy rates have slid from the COVID-19 induced peak, indicating the worst is behind landlords. However, annual vacancy rates remain higher, fuelled by prolonged lockdowns and higher vacancies concentrated in inner-city apartment markets due to a lack of international students and hard national border closures. Sydney’s and Melbourne’s rental markets are far from uniform; inner-city areas or those close to universities remain tenants’ markets while outer suburban areas continue to be landlords’ markets.
All other capitals have drifted below their vacancy rates from February 2020. This will be a welcome boost for landlords, especially those in Perth who have seen a stark turnaround in the vacancy rate in recent years, falling from 5.0 per cent in June 2017 to a mere 0.7 per cent in February 2021.
Sydney’s vacancy rate is the second-highest of all the capitals, rising to 2.8 per cent compared to 2.6 per cent in February 2019. There were an estimated 17,769 vacant rental listings at the end of February, an approximate rise of 9 per cent in estimated vacant rental listings over the year. Tenants will find the most pronounced rise in vacant rentals in the Inner City, Strathfield-Burwood-Ashfield, Parramatta, Kogarah-Rockdale and Eastern Suburbs-South.
Melbourne tenants will find vast rental options, with estimated vacant rental listings jumping 212 per cent year-on-year to just under 27,000. The best chance of a rent negotiation will be in Melbourne City, Stonnington-West, Port Phillip, Boroondara and Glen Eira; these areas have seen the sharpest rise in vacant rentals.
Highest vacancy rates
Highest vacancy rates across greater capital city areas – February 2021
Rank Sydney Melbourne Brisbane & Gold Coast Perth Adelaide
1 Parramatta, 4.9% Melbourne City, 11.7% Brisbane – Inner, 4.3% Perth City, 1.3% Adelaide City, 5.2%
2 Strathfield – Burwood – Ashfield, 4.5% Stonnington – East, 8.7% Sherwood – Indooroopilly, 3.7% Cottesloe – Claremont, 1.0% Prospect – Walkerville, 1.0%
3 Auburn, 4.2% Stonnington – West, 8.0% Brisbane Inner- West, 2.9% South Perth, 1.0% Holdfast Bay, 0.8%
4 Botany, 4.0% Whitehorse – West, 7.5% Nathan, 2.4% Canning, 0.9% Norwood – Payneham – St Peters, 0.6%
5 Pennant Hills – Epping, 3.9% Boroondara, 6.5% Mt Gravatt, 2.3% Melville, 0.8% Unley, 0.5%
Source: Domain
Note: The vacancy rate represents the portion of available, empty rental properties relative to the total stock of rental property. The rental vacancy rate is based on adjusted Domain rental listings and will be subject to slight revisions over time.
domain
Embed this table
Lowest vacancy rates
Lowest vacancy rates across capital city areas – February 2021
Rank Sydney Melbourne Brisbane & Gold Coast Perth Adelaide
1 Camden, 0.4% Mornington Peninsula, 0.3% Caboolture Hinterland, 0.1% Wanneroo, 0.2% Tea Tree Gully, 0.1%
2 Wyong, 0.4% Nillumbik – Kinglake, 0.3% Capalaba, 0.2% Gosnells, 0.3% Gawler – Two Wells, 0.1%
3 Blue Mountains, 0.5% Yarra Ranges, 0.3% Nerang, 0.2% Armadale, 0.3% Marion, 0.2%
4 Gosford, 0.5% Cardinia, 0.4% Mudgeeraba – Tallebudgera, 0.3% Rockingham, 0.4% Playford, 0.2%
5 Wollondilly, 0.8% Casey – North, 0.7% Coolangatta,0.3% Cockburn, 0.4% Port Adelaide -East, 0.3%
Source: Domain
Note: The vacancy rate represents the portion of available, empty rental properties relative to the total stock of rental property. The rental vacancy rate is based on adjusted Domain rental listings and will be subject to slight revisions over time.
Sunday, March 7, 2021
Tuesday, March 2, 2021
Monday, March 1, 2021
Wednesday, February 24, 2021
How to determine the real value of a property - “depends squarely on what a specific purchaser will pay”
With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties?Moving forward, low interest rates, economic performance and government stimulus will certainly influence growth in value, but scarcity will be one of the biggest factors that will influence market value and pricing moving forward.
“Whether the scarcity relates to the house or land size, the type of property, construction quality, unique view or location, making price predictions is challenging. As property markets recover from the impact of COVID-19, sudden market movements, whether upturns or downturns, can influence pricing as well.this is not to say that market valuations are worthless”.
“For properties where scarcity and market movements are not in play, a real estate agent is clearly in a better position to predict buyer behaviour,Agents and valuers often look into buyer interest, or the number of groups inspecting the property, as well as past sales data as basis for their valuations.
Determining the ‘right price’
Apart from a range of broad factors including scarcity, market movements and economic performance, individual buyers and sellers will also impact the final price.amount of cash at the buyer’s disposal, a property’s proximity to a buyer’s extended family, and the perceptions of the suburb or town” could affect pricing.
Similarly, the vendor’s urgency to acquire cash may influence the market value of the property just as much.
“When some of these factors, including scarcity, come into play, the value put on a property by a buyer can be affected by anything from 10 to 40 per cent,” the chairman said.
The ultimate determining factor for property value then, according to the executive chairman?
“An auction is the true litmus test for determining the real value of a property
Brisbane Rental demand has transitioned towards detached and lower density housing markets since the pandemic, reflecting the disruption to rental demand from overseas migration, but also the stress of changed working conditions, caused by Covid restrictions.
Westpac is forecasting 20 per cent gains in the housing market over the next two years.
In a report released Monday, the banking institution’s chief economist Bill Evans said he was expecting dwelling prices to rise 10 per cent nationally in 2021, and said the pace would continue into 2022, off the back of strong economic growth.
“The upturn is being supported by record low interest rates; the confident expectation among borrowers that these rates will remain low for years to come; ample credit supply; and an improving economic backdrop, as the roll-out of vaccines promises to bring the pandemic to an end and drives a sustained lift in confidence,” Evans said.
“The bottom line is that Australia’s housing upturn now has strong momentum that looks to be lifting further and will remain well supported by monetary conditions and an improving economic backdrop.”
Dwelling approvals surged 22 per cent in the final quarter of 2020, and new lending for dwellings lifted by 16 per cent in the December quarter, which Evans says demonstrates a robust and confident housing market.
“Most tellingly, buyer demand has run well ahead of ‘on market’ supply, with sales outstripping new listings by 34 per cent over the last six months and ‘stock on market’ down to just 2.5 months of sales—[where] the long run average is 3.8,” he said.
“A lift in new listings will no doubt be forthcoming but for now this is clearly a seller’s market.”
House prices forecast: Westpac
Average 2018 2019 2020 2021 2022
Sydney 5.1 -8.9 5.3 2.7 10 10
Melbourne 3.7 -7 5.3 -1.3 8 10
Brisbane 1.7 0.2 0.3 3.6 10 10
Perth -1 -4.7 -6.8 1.9 12 8
Adelaide 1.9 1.3 -0.2 5.9 10 8
Hobart 3.9 8.7 3.9 6.1 8 6
Australia 3.5 -6.4 3.1 1.8 10 10
^ (as % change). Source: Westpac bulletin
Unsurprisingly it was the smaller capital cities and regional towns that were most likely to capitalise on these forecast dwelling price increases.
There was still concerns about lingering areas of weakness, specifically the Sydney and Melbourne high rise markets, but according to the Westpac Housing Pulse report they look to be a minor drag on the broader market surge.
Evans said it was the regions that had been largely unaffected by virus disruptions and benefitted from related shifts in internal migration flows that would see the biggest boost in property prices.
Evans said they were also predicting good news for the labour market.
“Australia is expected to see growth well above trend this year and next. The unemployment rate is forecast to decline steadily to 6 per cent by end of 2021, and 5.3 per cent by end of 2022.
“We now expect the upswing to generate stronger, double-digit, price growth near term while our expectation, back in September last year, remains that a policy response can be expected later in 2022 which will settle markets into 2023.”
A high number of developers are planning to roll-out of new offices projects over the next six months as a rebound in confidence ignites financing and speculative projects, according to NAB’s quarterly commercial sentiment survey.
To date, Australia has faired much better than most other countries on both the health and economic fronts, with many activities now returning close to their pre-pandemic normal.
The recovery from the pandemic-driven recession is now filtering through into commercial property market sentiment, with NAB’s survey, a measure of sentiment based on expectations for capital values and rents, lifting for a consecutive quarter.
“While [our] index lifted for the second straight quarter, it is still very negative and well below the long-term survey average,” NAB chief economist Alan Oster said.
“However, expectations are improving for a stronger near-term recovery in economic activity and a lower peak in unemployment, which is seeing overall confidence levels in commercial property markets improve.”
Sentiment continues to diverge across sectors amid ongoing travel restrictions, with office and retail sentiment lifting and CBD hotels continuing to lag, sitting as the weakest asset class.
Industrial sentiment however rose sharply over the quarter, supported by ever growing demand in online retail and continued requirements for available warehouse and logistics space.
Office markets Sydney aerial shot
▲ Vacancy rates in the country's two biggest office markets, Sydney and Melbourne, have already risen significantly over the last six months.
On the development front, over half of property developers surveyed said they planned to commence works on new office projects in the short-term, up from 39 per cent in the previous survey.
“The survey highlights a shift in emphasis among property developers planning to start new works from residential to commercial building,” Oster said.
“A below average of developers said they were targeting residential developments, down from the previous quarter, but more are planning to start new works in the industrial, office and retail sectors.”
Shoring-up optimism has been the post-vaccine outlook for revenue and profitability.
Despite this, longer-term changes to workplace are still playing out as employers and staff seek a new balance in flexible work arrangements.
Of the 370 property professionals surveyed by NAB the average expect over three in four (77 per cent) of white collar workers will return to CBD offices post-Covid.
Some forecast a reduction of as much as 10-15 per cent in annual net absorption as work-from-home rates increase and firms search for 80 per cent of their existing CBD office foot print post-Covid, offset by greater workplace space ratios.
NAB said it expects the national vacancy rate, which remains unchanged at 9 per cent, to climb to 9.4 per cent in the next 12 months as businesses attempt to reduce their property footprints, before easing to 8.9 per cent in two years’ time.
“The outlook for capital growth for the next two years is for contraction in office, retail and CBD hotels, but at a slower rate than forecast in the third quarter,” Oster said.
“Industrial property expectations were however upgraded, and raised in all states, insulated by unchanged vacancy rates of 5.8 per cent.”
Property professionals also pointed to a big improvement in the ease of acquiring debt and equity to run their businesses across the fourth quarter.
They also expect debt and equity funding conditions to continue improving over the next six months, bringing them back to levels not seen since mid-2015.
Across the quarter, the average pre-commitment to meet external debt funding requirements for new developments in Australia fell to 63.3 per cent for residential property, but increased to 60.6 per cent for commercial.
Brisbane’s housing market: policy updates
The Home Builder scheme will continue until the end of March in a bid to prevent a major decline in construction activity.
Read more: HomeBuilder Gains Eleventh Hour Extension
Queensland faces a “hard road” over the next four years as the state recovers from the coronavirus pandemic, Treasurer Cameron Dick says.
Read more: Queensland Budget Announcement
The central bank, which introduced a package of measures at its latest meeting, cut the cash rate target to 0.1 per cent—the lowest in Australia’s history, in its bid to support a recovery.
Read more: RBA Cuts Interest Rate in Bid to Build Economy
Brisbane housing market forecasts
ANZ economists forecast Brisbane house prices will rise by 9.5 per cent next year, as low interest rates and government stimulus flow through the economy while Commonwealth Bank updated its forecasts, projecting a strong rebound in prices across the second half of 2021.
CBA now expects Brisbane house prices to increase by 16.6 per cent to December 2022 compared to 13.7 per cent in Sydney and 12.4 per cent in Melbourne.
Westpac has also updated its property forecasts, with Brisbane real estate prices tipped to surge 20 per cent between 2022 and 2023.
Brisbane Housing Market Insights: February 2021 https://theurbandeveloper.com/articles/brisbane-housing-market-update via @TheUrbDev
Good morning all, and mentally prepare yourself for maybe having the Olympics in 11 years' time.
10 things you need to know this morning in Australia (via @BIAUS) https://www.businessinsider.com.au/10-things-you-need-to-know-this-morning-in-australia-v19-2021-2
Tuesday, February 23, 2021
Monday, February 22, 2021
- not for fb deletion - Greetings, team. 10 things you need to know this morning in Australia
1. The Guardian is reporting this morning that the government will raise the JobSeeker payment by $50 a fortnight. While it is an increase, it will still fall below the current rate, which is bolstered by the coronavirus supplement until the end of March. Meanwhile, activists including the Australian Unemployed Workers Union are pushing a campaign for JobSeeker to be $80 a day, pushing the payment above the poverty line.
2. The Bank of Queensland (BoQ) will buy ME Bank under a new proposal worth $1.325 billion. “This is a major step in providing a compelling alternative to the big four banks,” CEO George Frazis said in a market update. While the ACCC has already green-lit the deal, it will now need to be signed off by regulators.
3. TikTok Australia has announced a new partnership with e-commerce platform Shopify, tightening the links between social media and online retailers. Local businesses will be free to create TikTok marketing campaigns, target specific user groups and monitor ad performance through Shopify. The news comes as competitors, including Instagram, seek new ways to get users to spend while they scroll.
4. Facebook has tried to restart talks with major news outlets Nine Entertainment Co and News Corp Australia about paying for news content, the SMH reports. However, the company wants to maintain the right to abandon these deals if Australia passes the media bargaining code, which is obviously a sticking point in negotiations.
5. Since Facebook brought down the hammer on news in Australia, the top-performing Australian pages look markedly difference. According to data from social media analysis tool CrowdTangle, Australian News Feeds are now populated with more satire and specific interest pages in their feeds in the place of news.
6. A 50%-odd rally in sharemarkets in 2020 has sent retail investors running headlong into the market and is fuelling growth of investment services. Commission-free US broker Stake tripled the number of traders on its platform in just eight months, hitting 300,000 in February. Meanwhile SelfWealth has reported “the most substantial period of customer growth in the company’s history”.
7. The coronavirus death toll in the US has passed 500,000. The country hit 400,000 deaths just over a month ago, on January 20. “It’s nothing like we have ever been through in the last 102 years, since the 1918 influenza pandemic,” the nation’s top infectious disease expert, Anthony Fauci, told CNN.
8. After a month laying low, Trump is going to give his first address since leaving the presidency. He’s set to speak at the Conservative Political Action Conference (CPAC) in Florida next week. He is expected to talk about the future of the Republican Party and criticise Joe Biden’s policies.
9. UK Prime Minister Boris Johnson revealed a timeline for lifting coronavirus restrictions in England. Schools are scheduled to open starting March 8, with all remaining restrictions lifted gradually. Indoor mixing will stay banned until at least May, with some restrictions remaining long into June. Makes you pretty glad for our situation!
10. Bitcoin tumbled 8% Monday after hitting a record above $US58,000 for the first time over the weekend. On Sunday, Bitcoin hit $US58,042, for a year-to-date gain of over 100%. The popular cryptocurrency has surged 305% in 2020.
BONUS ITEM
Okay, this is just nuts. This is a non-exclusive NBA clip, traded like a real asset. Top Shots is either genius or completely demented, and possibly both.10 things you need to know this morning in Australia (via @BIAUS) https://www.businessinsider.com.au/10-things-you-need-to-know-this-morning-in-australia-v17-2021-2
Thursday, February 18, 2021
Wednesday, February 17, 2021
The two key drivers of the long-term property boom may be drawing to a close, which may relieve the pressure off house prices over the longer term, according to an economist.
AMP Capital chief economist Dr Shane Oliver said that while there is still some time left before the property boom ends, he highlighted that interest rates “are at or close to the bottom”, with the Reserve Bank of Australia (RBA) now resorting to extreme measures to raise inflation.
Dr Oliver said that this should ultimately result in higher interest rates.
Commenting further on what could end the property boom, Dr Oliver said: “Second, the chronic undersupply of property may be starting to fade thanks to the unit building boom since 2015, the hit to immigration and home building incentives, which are likely to keep home building high for the next 12 months.”
“Supply is likely to remain strong this year and next, but population growth has collapsed and could take years to recover. This may take some pressure off house prices on a three-to-five-year view.”
In the shorter term, however, Dr Oliver said that the average capital city home prices are expected to rise by 5 to 10 per cent in 2021 and 2022 spurred by record-low interest rates and economic recovery.
His projections have followed those by the Commonwealth Bank of Australia (CBA), which said that property prices could rise by over 14 per cent in the next two years.
Dr Oliver also said that as the economy begins to recover, this would offset the wind-down of government income support and loan repayment deferral measures implemented on the back of the economic impacts of the coronavirus pandemic.
Furthermore, he said while that first home buyer (FHB) incentives would likely be reduced, investor interest could accelerate and “fill the gap”.However, Dr Oliver stressed that the outlook for the property market is “divergent”, adding that the drop in immigration amid border closures would likely constrain inner-city Sydney and Melbourne as well as unit demand.
On the other hand, outer suburban areas, houses, the smaller cities and regional property would all likely experience strong price gains, spurred by the “escape the city” trends and less exposure to immigration, he said.
“Expect average price gains of around 10 per cent in Adelaide, Brisbane, Perth, Hobart, Canberra and Darwin in addition to regional areas,” he said.
Dr Oliver said the divergence has also been evident in rising residential vacancy rates in Sydney and Melbourne, reflecting growing unit supply and the fall in immigration. But he pointed out that vacancy rates have been falling in other cities.
“This, in turn, points to upwards pressure on rents and property values in other cities relative to Sydney and Melbourne,” he said.
Commenting on the broader economy, Dr Oliver said that it is unlikely to justify rate rises until around 2023.
However, he flagged that a tightening in lending standards could be on the horizon in 2022 if the property market continues to ramp up as expected, causing financial stability concerns for the RBA.
He added that this should “start to slow things down and eventually the bottoming of the long-term interest rate cycle and the shift to oversupply may take pressure off prices, but that’s a while off yet”.
RBA governor Philip Lowe recently told the House of Representatives’ standing committee on economics that the RBA would continue to monitor lending standards instead of housing prices.
[Related: House prices to soar by 16% over 2 years: CBA]
The underlying story is a rent story, not a housing story. When the rate of housing formation is low, as we’re seeing now, weakness in rents comes through, particularly in those areas affected by the shock. It’s less of a house price story. House prices are more driven by financial flows and credit.
Landlords in inner-city Melbourne have taken the biggest property hit during the COVID-19 pandemic, followed by landlords in Sydney’s inner city and eastern suburbs, according to data from CoreLogic.
Between March 2020 and last month, there was an 11% drop in rents in the Melbourne CBD and a 10.8% fall in Sydney’s inner city and inner southern suburbs, according to CoreLogic figures published by the National Housing Finance and Investment Corporation.
“This shows weakness in housing triggered by the pandemic is showing up in the rental, rather than the purchase, markets,” NHFIC researcher Hugh Hartigan told The Australian Financial Review. “The underlying story is a rent story, not a housing story. When the rate of housing formation is low, as we’re seeing now, weakness in rents comes through, particularly in those areas affected by the shock. It’s less of a house price story. House prices are more driven by financial flows and credit.”
Rents in regional markets are also showing the impact of COVID-19. Rents in smaller cities like Darwin and Perth have spiked by as much as 11.1%, and regional centres that have seen a flood of new residents fleeing from locked-down cities have also seen rents spike, AFR reported.
“That inner city story is a pretty weak one in terms of rents, but conversely, dome of the major cities – particularly Darwin, Perth – you’re seeing very tight vacancy rates,” Hartigan said. “And in places like Coffs Harbour [on the North Coast in NSW]. There’s a lot of those different and highly variant stories playing out across the country.”
However, there are tentative signs of improvements in the Sydney and Melbourne rental markets, according to data published Tuesday by SQM Research.
The vacancy rate fell in Sydney’s CBD, and asking rents across greater Sydney rose enough last month to lift the national average for the first time in a year. SQM said there were also encouraging signs in Melbourne’s rental market.
Best Regards
Linda 姬琳达珍 and Carlos Debello (LREA)
LJ Gilland Real Estate Pty Ltd
Debello LREA推荐书LJ Gilland房地产
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Linda and Carlos have managed my property for over 10 years. They have always handled the property so it has been kept in excellent condition and rent always paid in time. Yes there have been some difficult tenants but I didn’t have to worry about a thing because it just got taken care of. It was the effortless sale and got the exact asking price. Can’t fault them, can only recommend them.
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- 11 Feb 2021
Hi Bolle, Thank you for your kind words. Please stay in touch with us if you should need anything such as research etc... Always happy to help :)
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Wednesday, February 10, 2021
Thursday, February 4, 2021
Tuesday, January 12, 2021
Monday, January 11, 2021
Will Aussie housing market defy expectations again this year?
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Will Aussie housing market defy expectations again this year?
by Ryan Smith | 12 Jan 2021
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APRA slashes liquidity available to lenders The regulator reduced the aggregate amount of committed liquidity by $46 billion, and hinted at more cuts to come
ACT housing minister pressured to explain why housing units were kept vacant A report alleges that government-owned affordable housing units sat empty for over a year
Experts see strong price growth in housing market in 2021 However, some warn that policymakers may need to rein-in runaway market
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Australia’s property market defied expectations in 2020 – so what does 2021 hold for Aussie real estate?
When COVID-19 locked down the country, analysts predicted a double-digit drop in the housing market. However, those dire predictions never materialized, and prices – which ended the year just 0.7% below pre-pandemic levels – are on the rise.
So how will the market fare in 2020? When The New Daily asked a group of real estate experts to prognosticate, none would give a figure. However, they did talk about some key things to look out for in the property market this year.
The biggest news could continue to be market growth in regional areas. Dr Sarah Hunter, chief economist at BIS Oxford Economics, told The New Daily that if local COVID-19 cases remained under control and unemployment stayed stable, regional areas and detached houses in smaller capitals could see continued growth. Hunter said that there was still significant demand from those taking advantage of buyers’ grants and stamp-duty concessions.
“Falling interest rates improved affordability, which helped demand, but supply hasn’t responded all that much yet as the volume of transactions – although they are turning – have not written anywhere near as much,” Hunter told The New Daily. “In terms of long-term sustainability, there’s still demand shock around [reduced] migration, which will likely make apartments cheaper.”
Anna Porter, director of Suburbanite, agreed. She predicted that prices for off-the-plan units would fall, largely due to investors whose worry about the strength of capital city rental markets will make them less likely to purchase property.
Read more: Experts see strong price growth in housing market in 2021
Vacancy rates in some capital cities rose above 4% last year as the pandemic slammed tenant-heavy industries with job losses, The New Daily reported. And data from the Australian Prudential Regulation Authority showed that investors have been slow to resume repayments; one third of deferred loans at the big four banks in October were investment loans, APRA reported.
“There could be a bloodbath that comes to fruition in a short, compressed time frame if people sell in quick succession in areas that don’t have undersupply issues,” Porter told The New Daily.
On the other hand, the impact of loan deferrals may not be as severe as predicted. According to the Australian Banking Association, the number of deferred loans cratered over the course of six months last year – plummeting 66%, from 493,440 in June to 169,677 in November. And CoreLogic head of research Eliza Owen predicted that house prices would continue to rise in the first half of 2021, ahead of the end of loan repayment holidays.
Owen also said that the RBA’s historic interest-rate cuts and programs like HomeBuilder and the First Home Loan Deposit Scheme outweighed the market’s negative factors.
“The only thing worth noting when you see incentives for first-home buyers, for example, it tends to have a vacuum effect where purchases that may have happened anyway are pulled forward,” Owen told The New Daily. “Once these schemes run out, we may see demand slow a little bit, and the other thing that could slow price increases is APRA intervention.”
Sunday, January 10, 2021
Friday, January 8, 2021
Our 2020 Household Spending Revealed
Our 2020 Household Spending Revealed https://www.strongmoneyaustralia.com/our-2020-household-spending-revealed/
Thursday, January 7, 2021
Brisbane to enter three-day lockdown to contain contagious UK COVID strain
The Queensland Government is taking a leaf out of South Australia's playbook in a bid to stamp out a potential COVID-19 outbreak, with a three-day lockdown to start from 6pm today in Brisbane, Moreton Bay, Ipswich, Redlands and Logan.
The announcement follows yesterday's confirmation that a confirmed case of a hotel quarantine cleaner from Brisbane's south has the highly contagious UK strain of the virus.
People in the affected local government areas (LGAs) will be required to stay at home except:
to attend work if they can't work from home;
to buy essentials like groceries and medicine;
look after the vulnerable; and
exercise within their neighbourhood.
Masks will also need to be worn everywhere in those local government areas except if people are at home.
Cafes, pubs and restaurants will be open only for take-away service.
Funerals will be restricted to 20 guests and weddings restricted to 10 guests.
Premier Annastacia Palaszczuk said she was asking people to have a long weekend at home, as "there are no second chances with this pandemic".
"We have learned from Victoria, South Australia and New South Wales that a short, sharp lockdown is better than a long one and this a more contagious strain," she said.
"Three days is better than 30."
The Premier said she once again called on Queenslanders to protect each other.
"All we can do is stay home and stay safe and please get tested," the Premier said.
Health Minister Yvette D'Ath said extra testing clinics with more staff had been opened.
"We want to see as many people tested as possible and people stay home and stay safe," the Minister said.
Chief Health Officer Dr Jeanette Young said it was essential to stop people moving through the community.
"We know that to stop the spread of the virus we have to stop the movement of people and test, test, test," Dr Young said.
"Queenslanders have done a tremendous job of containing this virus for so long- we just have to keep it up."
Prime Minister Scott Morrison praised the Queensland Premier on Twitter for her decision, describing it as a "wise call" to have a brief lockdown while authorities get on top of the recent case.
"This will buy much needed time," the Prime Minister said.
New strain's spread "out of control" in the UK
The Independent Sage, a group of scientists in the UK, issued a statement last week concluded the new strain of COVID-19 that seems to have emerged in the southeast of England is between 40-80 per cent more transmissible than earlier variants.
The scientists said COVID-19 was "out of control" in the UK with current Tier 4 stay-at-home restrictions now unable to contain its spread, even with closure of schools and universities.
"The pandemic is now out of control, and the NHS is struggling, with some hospitals having to stop non-COVID activities. The NHS (National Health Service) is no longer being protected," the Independent Sage commented.
"For these reasons, there is a strong argument for maximising the coverage of the population with at least one dose of vaccine, even though this requires a change to the dosage schedule.
"The urgency of concerted and effective action to supress the new variant cannot be overstated."
The Independent Sage also called for restricted movement from and to Great Britain with the rest of the world. There are currently at least 40 nations worldwide that have closed their borders to UK arrivals, including Singapore, Spain, Canada and India.
Updated at 8:51am AEST on 8 January 2021.
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Wednesday, January 6, 2021
Tuesday, January 5, 2021
Monday, January 4, 2021
Australia house prices finish wild year with strong growth
Australian home prices rose for a third straight month in December, capping a wild year in which prices dipped during the first COVID-19 outbreak, before rebounding strongly as the economy reopened.
House values in major cities rose 0.9% last month, CoreLogic Inc. data released Monday showed. For the year, prices gained 2%, defying concern home values would plunge after coronavirus lockdowns pushed Australia into its first recession in almost three decades.
Instead, Australia joined countries from New Zealand to the UK and the US where property markets have surged during the pandemic, as record low interest rates fuel demand, pushing buyers to compete for a scarce supply of listings. The desire for more spacious houses as people worked from home has also buoyed prices.
“Record-low interest rates played a key role in supporting housing market activity, along with a spectacular rise in consumer confidence as COVID-related restrictions were lifted and forecasts for economic conditions turned out to be overly pessimistic,” said Tim Lawless, head of research at CoreLogic. “Containing the spread of the virus has been critical to Australia’s economic and housing market resilience.”
The ability to work remotely also boosted property markets outside the big cities. Home prices in regional areas jumped 6.9% in 2020 -- more than three times the increase in capital city prices.
“As remote-working opportunities became more prevalent and demand for lifestyle properties became more popular, regional areas of Australia saw housing market conditions surge,” Lawless said. “Regional housing markets
had generally underperformed relative to the capital city regions over the past decade, but 2020 saw regional housing values surge as demand outweighed supply.”
While the outlook for housing prices this year is looking positive, “clear and present risks” remain, Lawless said.
Sydney and Melbourne are battling new COVID outbreaks, and new restrictions would set back the economic recovery and have a negative impact on home prices, Lawless said.
Closed international borders are “another wildcard,” with Melbourne and Sydney most impacted by a drop in immigration.
Best Regards
Linda 姬琳达珍 and Carlos Debello (LREA)
LJ Gilland Real Estate Pty Ltd
Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/
Request FREE Rental Appraisal here!
"Your Local Property Management & Sales Specialists"
PO BOX 19
ZILLMERE 4034
电话：07 3263 6085
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