Property

Melbournians flock to Geelong to buy property

by newsteadrealty

Rising Melbourne property prices have forced Gen Y investors to turn their back on the capital city in favour of the more affordable Geelong.

Realestate.com.au recently released data which revealed that four Geelong suburbs placed in the state’s top 10 most in-demand areas.

Economist Nerida Conisbee said that due to Melbourne’s median price of $730,000 and Geelong’s transport and jobs, the port city’s popularity would continue to soar.

She also added that Gen Y buyers were increasingly looking towards older homes in Geelong with potential for renovation.

“Anything located on the train line [from Geelong] to Melbourne seems to be incredibly popular,” she told www.news.com.au.

“You can get housing like that in Geelong, lots of period homes and older style homes that younger people quite like the opportunity to do up.”

Gen Y’s leading Australian property expert Ayda Shabanz said that as property prices across the country continued to rise, alternative investment locations would grow in desirability.

“Generally speaking, people have a misconception that Gen Y are uninterested in entering the property market but the reality is that couldn’t be further from the truth,” she said.

“A lot of them want to buy property but they have been priced out of entering the market in main areas, which is forcing them towards alternative locations.

“In future I predict first home buyers will continue to look at investment options that they can afford – whether that’s further out or other cities – and rent where they want to live.”

Ayda Shabanz hosts The Road to Property Ownership workshop on Tuesday May 15th 2018 at CUB Club in Melbourne, Victoria. Visit www.growevents.com.au to secure your seat at the FREE event.

Location

Where In Australia Should You Buy Property According To Data?

by newsteadrealty

Australian property experts have tipped Brisbane to be the country’s only prosperous market over the next 12 months.

Renowned property market analysers CoreLogic released data in early April that showed property prices in Sydney and Melbourne were down by 1.9% and 0.5% respectively.

Contrastingly, Brisbane’s market is surging with the same report revealing that property in Queensland’s capital has risen 1.1% in value over the past 12 months.

Speaking exclusively to News Corp Australia, AMP Capital Chief Economist Dr. Shane Oliver said property prices outside of Brisbane would fall further in years to come.

“Home prices in Perth and Darwin are either at or close to the bottom [and] price growth is likely to be moderate in Adelaide and Canberra,” he said.

“But it may pick up a bit in Brisbane thanks to stronger population growth.”

Dr. Oliver also said that claims that Australia was on the verge of a housing crash that would result in property prices decreasing by up to 20% were false.

He argued that property supply in Australia had not kept up with population growth and housing demand, a factor which continued to make cities like Brisbane an attraction location.

“A crash remains unlikely,” Dr. Oliver predicted.

Ayda Shabanz hosts The Road to Property Ownership workshop on Tuesday May 15th 2018 at CUB Club in Melbourne, Victoria. Visit www.growevents.com.au to secure your seat at the FREE event.

Property

First Home Buyers Rapidly Entering The Qld Property Market

by newsteadrealty

Queensland’s first homebuyer numbers have surged 18.5% in comparison to last year, according to the latest PRDnationwide key market indicators report.

Dr Diaswati Mardiasmo, PRDnationwide’s National Research Manager, said 6271 loans were given to first home buyers in Queensland during the September quarter.

“18.5 per cent is quite significant (growth),” she said. “It is not the highest percentage growth across the states but for Queensland it is quite good.”

Whilst Queensland’s property market has become more affordable in the past year, Dr Mardiasmo said other factors were also attracting more first home buyers.

One of which was developers offering incentives which make entering the property market a more enticing proposition.

“I have seen developers where they will match the first home buyers grant accordingly,” Dr Mardiasmo told The Courier-Mail.

“Developers themselves are attracting first homebuyer loans using these methods and because of that it is stimulating first home buyers to actually get into the market.”

Ayda Shabanz hosts The Road to Property Ownership workshop on Tuesday March 20th 2018 at the Queens Arms Hotel in Brisbane, Queensland. Visit www.growevents.com.au to secure your seat at the FREE event.

Market

Brisbane Tipped To Become Australia’s Top Property Market

by newsteadrealty

A renowned Australian property expert has predicted that Brisbane will soon emerge as the best performing capital city for housing in the country.

CoreLogic’s Tim Lawless said that a key factor behind his property forecast was the fact that people are migrating to Brisbane more than anywhere else Down Under.

“Higher migration rates implies more demand for housing, which should help to support an improvement in capital gains,” he told The Courier-Mail.

Mr. Lawless said the timeframe in which Brisbane would become the nation’s leading property market was within the next five years.

He also stated that factors such as enhanced affordability and increasing job prospects in the Sunshine State would help to propel Brisbane’s property market.

“Jobs are an essential component of a healthy housing market and a strong labour force has been a key missing ingredient from the Brisbane housing market up until recently,” he said.

“The improved jobs sector, together with high rates of migration and an affordable mix of housing is a solid recipe for stronger housing market conditions.”

Ayda Shabanz hosts The Road to Property Ownership workshop on Tuesday March 20th 2018 at the Queens Arms Hotel in Brisbane, Queensland. Visit www.growevents.com.au to secure your seat at the FREE event.