fbpx

January 24

January 2021 Property Update

0  comments

HOUSING CONTINUES ITS RECORD RUN – REIA

Figures released by the Australian Bureau of Statistics show that the value of new loan commitments for housing grew for the sixth consecutive month and reached a record high in November 2020.

“Investors are returning to the market with the value of loan commitments for investor housing increasing by 6.0% for the month and 3.9% for the year.”

“The November lending figures confirm the resilience of the housing market with investors, first home buyers and owner occupiers all active in the market.”

With limited stock and strong demand driven by a record low interest rate outlook, the market is likely to remain buoyant, defying the doomsday forecasts of last year,” concluded REIA Presidents Adrian Kelly.  

Click for more: https://www.therealestateconversation.com.au/2021/01/15/housing-continues-its-record-run-reia/1610677195


EXPERTS FORECAST DOUBLE DIGIT GROWTH

Real estate analyst Simon Pressley has joined Hotspotting’s Terry Ryder in forecasting a boom year for Australian house prices in 2021.

Pressley predicts that five out of eight Australian capital cities will produce double-digit house price growth in the coming year.

2021 heralds “the best set” of real estate conditions seen in almost 20 years. “Australia has just commenced an era of accelerated rates of home ownership and wealth creation, in a manner not seen since the five years ending 2005,” Pressley says.

Click for more: https://www.hotspotting.com.au/experts-forecast-double-digit-growth/


BUY IN BRISBANE, AVOID TASMANIA, CONSIDER THE REGIONS

Buyers’ agents, property valuers and analysts are tipping the more affordable and higher yielding Brisbane and Adelaide to be among the standout markets for property investors in 2021.

Brisbane finished 2020 with a median dwelling value well below that of Sydney and Melbourne, but with a much higher gross rental yield of 4.3 per cent compared to 2.9 per cent in Sydney and 3.1 per cent in Melbourne, according to CoreLogic. Brisbane property prices also showed good momentum heading into 2021, up 2.1 per cent over the final quarter of 2020.

With the changing economy and families looking for more lifestyle and more affordable housing markets Brisbane is becoming a favourite destination to relocate to. “This will consequently increase demand for housing, both rental and sales stock, pushing values up and tightening the rental market” said founder of advisory firm Suburbanite Anna Porter.

Click for more: https://www.afr.com/property/residential/buy-in-brisbane-avoid-tasmania-consider-the-regions-20210110-p56szc


BRISBANE RENTS REACH RECORD HIGH

Unprecedented rates of interstate and overseas migration have sparked one of Brisbane’s strongest rental markets in a decade, with the city clocking record-high median prices.

It’s the city’s second consecutive quarterly price rise, and one that industry experts say could spell the end of Brisbane’s budget property era.

Domain senior research analyst Nicola Powell said for the first time in five years it is cheaper to rent a unit in Melbourne than Brisbane, with houses undergoing the steepest annual increase in seven years.

Brisbane’s vacancy rate is likely to tighten further in the coming months due to the rising interest from southern states and the flow of residents from regional Queensland into Greater Brisbane.

Click for more: https://www.domain.com.au/news/brisbane-rents-reach-record-high-in-december-quarter-2020-domain-rent-report-1018059/


GOLD COAST, SUNSHINE COAST RENTS RISE AFTER EXODUS OF SEA-CHANGERS FROM CAPITAL CITIES

South-east Queensland’s hottest coastal hubs could be on the brink of a rental property bidding war after median asking prices rose to record heights late last year.

Demand for property on both the Sunshine Coast and Gold Coast skyrocketed over the three months leading up to December, sparking price rises of almost four per cent in just three months as vacancy rates continued to plummet.

“In terms of rental performance, the Gold Coast and the Sunshine Coast are really similar Domain senior research analyst Nicola Powell said… over the past five years, rent prices for houses on the Sunshine Coast rose 16.1 per cent while houses on the Gold Coast rose by 15.2 per cent. “And unit rent prices on the Gold Coast rose by 17.1 per cent and by 19.4 per cent on the Sunshine Coast. 

The vacancy rate for the Gold Coast was 0.6 per cent in December 2020, compared to 1.9 per cent in 2019 – it’s a landlords’ market. “And on the Sunshine Coast it was 0.3 per cent – so it’s extremely tight. In December 2019 it was 1.4 per cent.”

Ray White’s Amanda Blake said the Gold Coast rental market was currently the hottest she’d seen in more than two decades.

Principal at McGrath Noosa, Matt Powe, said the sheer demand for rental properties on the Sunshine Coast had reached boiling point with “no light at the end of the tunnel” 

Click for more: https://www.domain.com.au/news/gold-coast-sunshine-coast-rents-rise-after-exodus-of-sea-changers-from-capital-cities-domain-rent-report-1018495/

 

RENTAL CRISIS WARNING AS VACANCY RATES TIGHTEN ACROSS QLD

In bad news for tenants, the latest figures show Queensland’s rental market is nearing crisis point. A severe shortage of rental properties has created a “looming crisis” for Queensland tenants with less than 1 per cent of stock available across the majority of the state. 

Ray White Surfers Paradise CEO Andrew Bell said, with more than 600 properties on their books, they were the biggest rental agency on the Gold Coast and had a massive waiting list. He said they’re now fielding more than 12,000 inquiries a month and can let any upcoming vacancy out in days, sight unseen.

The flip side of the shortage is investors could be reassured of finding a tenant sooner rather than later. “There is absolutely a time we need more investors and it is at a time when it should be more attractive to investors,” he said.

Click for more: https://www.couriermail.com.au/news/queensland/rental-crisis-warning-as-vacancy-rates-tighten-across-qld/news-story/460de10296b14782a73a9e8b5584aff2?utm_source=CourierMail&utm_medium=Email&utm_campaign=Editorial&utm_content=CM_AM-PM_CUR_02&net_sub_id=@@@@@@@@@@&type=curated&position=9&overallPos=9

 

BUYING FRENZY SETS UP RECORD BREAKING 2021

Property buyers just can’t seem to get enough of the Gold Coast right now, with agents reporting a buying “frenzy” as properties transact within hours of hitting the market – if they get the chance to reach market at all. Some say they have waiting lists of buyers, desperate to purchase something – anything.

Colleen Brunt of Amir Prestige, said the Gold Coast in general had been undervalued for some time so the present record prices were an indicator of where the market should actually be.

Katrina Walsh of Harcourts Coastal found herself having to cancel an open home after the apartment was snapped up prior to auction.

Andrew Henderson, principal at John Henderson Professionals Mermaid Beach, which is holding its annual auction on Tuesday, said they had already sold more than half of the properties that were due to go under the hammer.

Mr Henderson said: “As long as stock levels remain relatively low and buyers are in strong demand and there’s not much choice, I think we will see records continue to tumble this year.

Click for more: https://www.realestate.com.au/news/its-going-to-be-a-recordbreaking-year-for-property/


Tags


You may also like

Leave a Reply

Your email address will not be published. Required fields are marked *

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Subscribe to our newsletter now!