27 Jul Get double digit growth + A house licenced to party + Why now is the best time to buy
Where to find double digit growth
If you thought that Australian property markets were all doom and gloom, think again. Double-digit price growth was produced for one in every eight locations across Australia over the last 12 months.
- The median house price increased by 10 per cent or better in 12 per cent of Australia over the year ending April 2018.
- 67 out of 550 city councils spread across our 8 states and territories had double-digit growth
- 45 of the 67 are located outside of Australia’s 8 capital cities
- The 45 locations still have a median house price below $600,000
- Full list in the blog article on RET
A house licenced to party
A RIDICULOUSLY stunning Queensland home that’s soon to sell to the highest online bidder has a licence to host 160 parties a year.
- The auction is on August 6
- It is in the Whitsundays
- Almost five and a half acres
- The property hasfive bedrooms, five ensuite bathrooms and four guest powder rooms as well as two kitchens – one for the family and the other a full commercial kitchen.
- 160 metres of ocean frontage
- Licenced for 160 “events” a year …READ MORE
Why now is the right time to buy
A reduction in demand means auction clearance results are less than stellar but savvy buyers understand that is potentially a good thing.
- As we told you this week in Auction Insider – numbers are down but clearance rates are improving
- Was at a 7 year low
- Strong bidding in blue-chip areas – sub $1 to 2$M
- Nathan Lyon sold his apartment for $1.085M after paying $1.1M in 2015 (rent free)…READ MORE
10 years on – how prices have changed
From June 2008 through June 2018, national home values have risen by a cumulative 43.9%, with the combined capital cities recording an increase of 52.6% and the combined regional markets recording growth of 16.6%.
- Figures from Core Logic and published in YIP
- The region to see the greatest gains in house values over the past decade was the South West region of Sydney, where values climbed 112.9%
- The largest decline over the same duration – Outback North and South in WA, Mackay andTownsville in Queensland
- Nationally units improved by 34.2%
- Looking ahead – dwelling values are already falling in Sydney and Melbourne
- Regional markets are currently outperforming capital cities
- Cameron Kusher from Core Logic said “it seems unlikely the returns of the past decade will be replicated over the next 10 years” …READ MORE