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Melbourne homebuyers on budget have fewer suburbs to choose from
This article was first published: Samantha Landy, Herald Sun July 24, 2016 1:04am Picture: Nick, Kristina and Eva Ower outside their Pakenham home. Picture by: Jason Sammon HOMEBUYERS on a budget have a shrinking number of Melbourne suburbs to choose from, with just 23 postcodes still offering affordable median house prices. Real Estate Institute of Victoria figures show 7 per cent of the city’s 312 suburbs had median house prices below $400,000 at the end of the June quarter — down from 12 per cent a year ago. Most are more than 20km from the CBD with Melton, 35km...
Melbourne auction market turns to spring in top shape
This article was first published: Jul 24, 2016 by Dr Andrew Wilson via domain.com.au Photo: Jesse Marlow "Auctioneer Greg Hocking, of Greg Hocking Holdsworth Real Estate" The Melbourne home auction market reported another robust clearance rate on Saturday, with enthusiastic buyers continuing to compete fiercely for the typically scarce mid-winter offering. Although Saturday’s clearance rate of 74.2 per cent was well down on the previous weekend’s boom-time result of 80.2 per cent, it nonetheless reflects a continuance of the positive market conditions for sellers, which have...
Five Monash suburbs in Melbourne’s top 10 for median house price growth in 2015
First published by Scott Carbines, News Corp Australia Network, July 9, 2016 A WHOPPING five of Melbourne’s top 10 suburbs for median house price growth in 2015 were in Monash. And rising house prices helped push the total value of residential property that changed hands in the 12 month period to just short of $4 billion — cementing the municipality as a leading property hot spot. The authoritative Valuer-General Victoria’s Guide To Property Values 2015 details houses in Hughesdale, Mt Waverley, Syndal, Clayton and Ashwood as among Melbourne’s elite for price growth...
CoreLogic says Sydney, Melbourne house prices up in June despite cooling
This article was first published on 1 July 2016 by Su-Lin Tan in www.afr.com picture by Jessica Hromas Sydney and Melbourne housing prices continue to defy a cooling, posting another price rise in the month of June, according to Corelogic's June Home Value Index. While foreign buyers were once thought to be mainly responsible for the the rise in house prices in the last three years, local homebuyers and investors showed their buying power buoyed by record low interest rates. The major banks have all ceased foreign lending. "The impact of interest rate cuts from May...
Sydney vs Melbourne: what can property buyers get?
This article was first published By Samantha Menzies | Yahoo7 Finance – Fri, Jul 1, 2016 The rivalry between Melbournians and Sydneysiders is as rife as ever, but competition has begun to extend beyond the weather, sport and culture – instead, the property markets are becoming the latest cause of divide. The difference is also represented by the $210,000-$270,000 gap in median property prices. Sydney, the city known for its millionaires, saw its median house price fall to $995,804 in the first quarter of the year and median unit prices were also down to $656,166....
What will the Australian property market look like in 20 years?
This article was first published by Johanna Leggatt in news.com.au JULY 2, 2016 EVERY time the capital city property market notches up another milestone — a derelict Sydney cottage goes for millions at auction, just say — renters die a little bit more inside. It’s no secret that property along Australia’s east coast is seriously unaffordable, with many young people struggling to afford even a studio apartment in Melbourne or Sydney. Surely, the bubble has got to burst at some point, right? Or does it? Remember when it was inconceivable that the median...
Home prices are sky-high, but so are the returns
First Published: THE AUSTRALIAN JUNE 25, 2016 Samantha Hutchinson Investors paying New York and Paris prices for jewelbox apartments and mansions in Sydney and Melbourne are doing so with good reason, with research indicating Australian high-end homes rate among the best in the world for investment returns. Luxury property prices in Sydney and Melbourne have risen at more than twice the rate of prestige homes and apartments in Monaco, Singapore and Beijing in the past year and at more than five times that of homes in London, Rome, Geneva and New York. Property group...
The $600,000 premium paid in Melbourne’s school zones
First published 27 JUNE 2016 www.propertyobserver.com.au New REIV data shows that homes located within the catchment area for some of Melbourne’s best public secondary schools are fetching close to a $600,000 premium compared to those outside the zone. It found that in 2016, the median house price of properties with more than two-bedrooms in desirable public school zones is significantly higher than the median price of similar homes that border the zone. The analysis, undertaken in the 12 months to March 31, shows that the largest price difference was recorded for...
Melbourne suburbs guaranteed to sell at auction with 100 per cent clearance rates
This article was first published on Jun 1, 2016 by Kirsten Robb, Data Journalist for www.domain.com.au Featured Image: Huss Saad of Village Real estate says Melbourne has well and truly woken up to the west. Photo: Luis Ascui Every one of the 23 sellers who put a property under the hammer in Caulfield South during May had reason to pop the champagne. Every auction in the suburb ended with the slap of a sold sticker across the sales board. The remarkable statistics show the rising strength of the inner south, as Melbourne’s east continues to take a back seat in the auction...
Melbourne house prices: Who had it tougher, the high-interest ‘80s or the high-priced present?
First Published: June 17, 2016 12:00pm, By Peter Taylor, Herald Sun LET’S deal with a misconception. There’s a refrain among older generations whenever young people lament the high cost of housing. “Don’t complain,” goes the line. “You’ve got it easy. We had to pay 17 per cent on our home loans”. Spoken in reference to the late 1980s, it is a statement of fact. But the implication is that because interest rates were extremely high, homebuyers in that era “did it tougher” than people buying into the housing market now. This is incorrect. Certainly,...