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 ...
Subscribe to:
Posts (Atom)