How Covid-19 Transformed the Property Market

Graeme Salt Broker 2, Knowledge Centre Leave a Comment

‘Life will never be the same again.’  Its been said non-stop since Coronavirus, but there is no doubt it has accelerated long overdue changes in the property market. Across the board, property-related professions are adapting and thriving despite the virus. Over the weekend, 73 per cent of Australia’s capital city auctions were successful, according to CoreLogic. Of these, Melbourne achieved …

Australia’s Top 10 Oversupply Areas

Graeme Salt Broker 2, Knowledge Centre Leave a Comment

Covid-19 has turned property demand such that new research maps ‘Danger Zones’ in the propertly market. COVID-19 has led to an immediate (if perhaps temporary) shift outwards in the demand for housing, such that experts have identified two risks property owners face. In some location there is now the risk of negative equity (where a house is worth less than …

House prices set for double-digit growth: AMP

Graeme Salt Knowledge Centre, News Leave a Comment

Euan Black| The New Daily| 27 February 2020 https://thenewdaily.com.au/finance/property/2020/02/27/house-prices-growth-amp/ Property prices are expected to rise 10 per cent over 2020 as low interest rates entice buyers back into the market. The pace of growth will ease in the second half of the year as more and more housing becomes unaffordable for increasing numbers of people. Faced with weak wages growth …

The RBA has kept the official interest rate on hold at its February meeting, but speculation is rife when the next cut is coming

Graeme Salt Knowledge Centre, News Leave a Comment

Jack Derwin| Business Insider| 4 February 2020 https://www.businessinsider.com.au/rba-february-rate-decision-cut-hold-2020-2 Interest rates are on hold for now, but another cut is likely coming. The Reserve Bank of Australia (RBA) announced on Tuesday that it had kept the official interest rates at 0.75% at its February meeting. “With interest rates having already been reduced to a very low level and recognising the long …

House price rises spread beyond Sydney and Melbourne, but pace of growth slows

Graeme Salt Knowledge Centre, News Leave a Comment

Michael Janda| The New Daily| 3 February 2020 https://thenewdaily.com.au/finance/property/2020/02/03/house-prices-february-corelogic/ Australian house prices continued to rise in January, with increases spreading beyond the booming Sydney and Melbourne markets. The big south-eastern cities continued to lead price rises, but all other capitals posted gains, including modest 0.1 per cent increases for the struggling Perth and Darwin markets. However, the top 10 capital-city …

First-home buyer optimism remains despite soaring property prices

Graeme Salt Knowledge Centre, News Leave a Comment

Euan Black| The New Daily| 30 Jan 2020 https://thenewdaily.com.au/finance/property/2020/01/30/first-home-buyers-me/ Soaring property prices “are yet to crush the home ownership dreams of first-home buyers,” says ME Bank. But they aren’t doing much for the broader economy. Interest rate cuts and looser bank lending have seen national housing prices rise more than 5 per cent since finding their trough in July. The …

Value recovery driven by expensive houses

Graeme Salt Knowledge Centre, Uncategorized Leave a Comment

Annie Kane| Mortgage Business| 4 December 2019 https://www.mortgagebusiness.com.au/breaking-news/14062-value-recovery-driven-by-expensive-houses As home values sharply recover in Sydney and Melbourne, there has been a particular spike in the recovery of the premium housing, according to new research. According to the November Home Value Index, released by property analytics company CoreLogic, the value of properties sold across Australia in the month ending 30 November …

Why you should try selling a home in a festively-named street at Christmas

Graeme Salt Knowledge Centre, Uncategorized Leave a Comment

Melissa Heagney| Domain| 4 December 2019 https://www.domain.com.au/news/why-you-should-try-selling-a-home-in-a-festively-named-street-at-christmas-914833/ People selling a house in a uniquely-named street name could add thousands of dollars to the sale price, new research shows. Academics from Deakin University, National University Singapore and the Chinese University of Hong Kong found that Sydneysiders had a preference for longer, one-word street names in their recent study, Street Name Fluency …

Sydney and Melbourne Drive Property Price Rise of 2.4% In September Quarter – ABS

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Martin North| Digital Finance Analytics|10 December 2019 Residential property prices rose 2.4 per cent in the September quarter 2019, the strongest quarterly growth since the December quarter 2016, according to figures released today by the Australian Bureau of Statistics (ABS). Sydney and Melbourne residential property prices recorded strong growth in the September quarter 2019. Property prices rose in Sydney (+3.6 …

Investors warned of rising spruiker activity

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Nila Sweeney| Australian Financial Review| 21 November 2019 https://www.afr.com/property/residential/investors-warned-of-rising-spruiker-activity-20191119-p53byy Property investors and home buyers are being warned about the rising spruiker activity as the market recovery accelerates amid lower interest rates. Property industry lobby groups Property Investment Professionals of Australia (PIPA) and the Property Investors Council of Australia (PICA) have alerted their members about the re-emergence of unscrupulous operators using …