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Melbourne’s top performing growth areas

25 Eastern Grey Rise, Flinders, sold for $1.48 million.

This article was first published by SAMANTHA LANDY, Property reporter, News Corp Australia Network October 2, 2016 | Image: 25 Eastern Grey Rise, Flinders, sold for $1.48 million.   IT’S a swell time to sell property southeast of the CBD — especially on the Mornington Peninsula.   Holiday havens Flinders and Portsea top all other Melbourne suburbs for annual median house price growth, CoreLogic data shows, with the former rising almost 50 per cent in the 12 months to June.   And nearby Safety Beach is the city’s best performing area for units.   Southern suburbs closer...

90.5% of Australian homes sold for a profit last quarter, delivering a windfall of $15.6 billion

Photo by Frazer Harrison/Getty Images

This article was first published by DAVID SCUTT on 28 Sept 2016 via businessinsider.com.au | Image: Photo by Frazer Harrison/Getty Images   We might not know exactly what prices are doing, and some markets are deemed to be in a bubble, but it’s clear that the vast majority of Australian homes that were sold in the June quarter were done so for a profit.   According to the latest Pain and Gain report released by CoreLogic earlier today, only 5.9% of capital city houses, and 9.5% of units, resold at a loss during the quarter.   That means 94.1% of all capital city houses, and...

Few sellers keep auction clearance numbers high

Property Prices

This article was first published by TESSA AKERMAN on 26th Sept 2016 via theaustralian.com.au   Strong auction clearance rates in Sydney and Melbourne continued at the weekend as a result of high demand and relatively low numbers of properties on the market.   Nationally clearance rates ­remained above 70 per cent, with Melbourne recording a clearance rate of 79 per cent and Sydney 84 per cent, according to prelim­in­ary results from CoreLogic.   REA Group chief economist Nerida Conisbee said Melbourne had been experiencing elevated levels of demand since April, while...

Sydney urban sprawl nearing limits with only 340,000 house lots left

Sydney’s population is expected to hit 6.42 million in 20 years. Photo: Louise Kennerley

  This article was first published by Kate Burke, Jennifer Duke on 24 Sept 2016 via domain.com.au | Image: Sydney’s population is expected to hit 6.42 million in 20 years. Photo: Louise Kennerley   Sydney’s great urban sprawl will soon come to an end, with new data showing the Sydney basin is nearing capacity.   There are 340,000 potential housing lots left throughout the Greater Sydney basin, less than half the number needed to house the city’s bulging population over the next two decades.   By 2036, Sydney’s forecasted 6.42 million population will require 726,000 new dwellings....

Crackdown driving Chinese property buyers away from Australia

Chinese buyers of Australian property

This article was first published by Lisa Murray on 22 Sept 2016 via afr.com.au | Image: afr.com.au   Chinese real estate agents who previously sold only Australian property to their clients are switching their focus to the United States and Europe in response to higher taxes and tougher lending requirements.   "Australia has become too hard for buyers and agents," said AC Property director Esther Yong.   She has just returned from a trip to Shanghai and Nanjing, where she was marketing some new property developments to Chinese agents.   "More than half of the agents we...

Darwin real estate in freefall, owners remove listings

PHOTO: Glenn Chandler is struggling to sell his tropical, open-plan home in Darwin. (ABC News: Avani Dias)

This article was first published byBy Avani Dias on 24 Sept 2016 via abc.net.au | Image: PHOTO: Glenn Chandler is struggling to sell his tropical, open-plan home in Darwin. (ABC News: Avani Dias)   Darwin locals trying to sell their properties are feeling the pinch of a depressed housing market as the volume of sales reaches an all-time low.   Some have been forced to leave the market altogether.   Glenn Chandler's tropical, open-plan house in Darwin's northern suburbs has been on the market for more than a year and has had just six enquiries.   "When we moved in it was...

Melbourne’s high-rise nightmares taking a tall toll on residents and investors

High-rise apartment blocks have transformed Melbourne's skyline. Photo: Leigh Henningham

This article was first published by Aisha Dow on 25th Sept 2016 via theage.com.au | Image: High-rise apartment blocks have transformed Melbourne's skyline.  Photo: Leigh Henningham   We have watched them sprouting up all over Melbourne, transforming our streets and skylines with the promise of solving the housing affordability crisis. But many of those closest to the booming industry say they wouldn't buy one.   All across Melbourne, new apartments riddled with faults have been sold to investors and residents. Some of the problems are so costly to fix that it would be cheaper to...

McMansions no more as cost puts the squeeze on homes

Large houses under construction at Tranmere SA. Photo: Winburn Leigh

This article was first published by TURI CONDON, PAIGE TAYLOR via theaustralian.com.au | Image: Large houses under construction at Tranmere SA. Photo: Winburn Leigh   The days of the McMansion are numbered, with the size of Aus­tralian homes shrinking over the past seven years, victims of soaring costs and changing lifestyles. The country’s homes — some of the biggest in the world — reached peak size in 2009 at an ­average of 222sq m for newly built houses and apartments combined, according to research under­taken exclusively for The Weekend ­Australian.   But the global...

Melbourne price growth leads the nation while other cities fall behind

Melbourne price growth leads the nation while other cities fall behind

This article was first published via Property Observer – Thu, Sep 22, 2016   Home values across Australia’s eight capital cities rose at the slowest annual rate in more than three years at the end of the June quarter, according to the Australian Bureau of Statistics.   National prices increased by 4.1 percent annually.   It was the lowest rate of growth since March 2013, when the rate was 3.1 percent.   For the year to June 30, Melbourne residential property ­prices rose 8.2 percent.   Sydney prices were up 3.6 percent annually.   Sydney and Melbourne, led growth...

VIC Melbourne residential property growth doubles Australian average: Australian Bureau of Statistics

property market continues to grow

This article was first published by Scott Carbines, Property reporter, News Corp Australia Network on September 20, 2016   MELBOURNE property’s price growth doubled the national average in the year to June, a new report shows — and experts say there’s more to come.   Figures released today by the Australian Bureau of Statistics show Melbourne’s average residential price increased 8.2 per cent during the 12 month period — the most of any capital city.   The boost was double the 4.1 per cent average of the eight capital cities combined.   Canberra homeowners enjoyed the...