Showing posts with label property manager ljgrealestate. Show all posts
Showing posts with label property manager ljgrealestate. Show all posts
Thursday, March 31, 2022
Growth standouts over the past year have been Brisbane (27.02%), regional NSW (26.85%), and the ACT (26.4%), with regional Queensland (23.35%) also performing strongly.
Australia’s rampant home price growth slowed further in March, lifting by 0.34%, the slowest pace of growth since May 2020, according to the PropTrack Home Price Index.
The PropTrack Home Price Index is an Australia-first monthly revised residential property price index just launched by REA Group’s data business, PropTrack, to deliver timely insights on home prices and market trends.
The report found monthly price growth was highest in South Australia (1.03%), with Adelaide (0.84%) the top performer of the capital cities. Prices fell slightly in Melbourne (-0.02%) while larger falls have been recorded in Perth (-0.11%) and the Northern Territory (-0.13%).
Findings also showed that regional areas continue to outperform the capitals in the post-pandemic market, with prices rising 25% in the past year in regional areas, compared to only 16% in the capitals.
Growth standouts over the past year have been Brisbane (27.02%), regional NSW (26.85%), and the ACT (26.4%), with regional Queensland (23.35%) also performing strongly.
“Home price growth has slowed considerably in 2022,” said Paul Ryan, PropTrack economist and report author. “The increase in prices across the country in March 2022 was at the slowest pace since May 2020, after national pandemic lockdowns. While price growth has slowed dramatically, it is comparing to an exceptional period – 2021 saw the fastest growth in over 30 years. In March, regional areas continued to benefit from relative affordability and preference shifts towards lifestyle locations. Regional areas in all states outperformed their capital city region.”
Ryan said the easing in price growth reflects the reduced influence of lower interest rates. And with fixed mortgage rates expected to rise further as RBA increases the cash rate, probably later in the year, “the outlook for price growth remains subdued, with the speed of official interest rate hikes the big unknown for the market in 2022.”
Source Broker News
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Linda and her team have managed our investment property from Day 1. They have been totally organized, prompt and responsive to any requests during the rental period. Excellent vetting of tenants, with proactive management of the property. 12 months ago we were ready to sell, however Linda's guidance and advice suggested we should wait - which we did. Recently we decided to sell - that advice gained us an additional, yes additional, 60% over what we would have achieved previously. Very happy with her professionalism, knowledge & guidance.
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Carlos and I are very appreciative and thankful for your kind words. As a team, LJ Gilland Real Estate were privileged to look after your Investment Property, treating it as if it was our own. Please stay in touch with us for many more years as our relationship is more than just the long term business, it's a loyal trusting friendship. Thank you.
https://www.ratemyagent.com.au/real-estate-agency/lj-gilland-real-estate/property-listings/26-daryl-reinhardt-st-redbank-plains-afxszs
#BUYER FIVE STAR REVIEW FOR 26 DARYL REINHARDT ST, REDBANK PLAINS RECEIVED 19TH MARCH 2022
We certainly are happy customers
Carlos and his wife were very helpful. I bombarded them with lots of questions and they had excellent knowledge of the property we were interested in. I am sure I was quite a complicated client . I had no experience in buying a property. Carlos is a great communicator, kept in regular touch by phone or internet and guided me through. We are very happy with the property and the process. Thank you !!
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https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/26-daryl-reinhardt-st-redbank-plains-ab1eip
Tuesday, February 1, 2022
Wednesday, August 4, 2021
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Tuesday, June 29, 2021
Friday, June 25, 2021
Thursday, June 17, 2021
Wednesday, June 2, 2021
Monday, May 31, 2021
Sunday, May 23, 2021
Wednesday, May 19, 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."
Thursday, March 25, 2021
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 2, 2021
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