This Week’s Featured News
Rental growth in most East Coast prestige residential markets strengthening
• Knight Frank has released its latest Prime Residential Review Q3 2020 reports• The research contains the first-ever reported data for rental growth, average days on market (for sales), and gross rental yields for prestige property in Australia• Brisbane was found to have the best performing prime residential market on Australia’s East Coast in Q2 2020, with fewer days on market, price growth, and rental … Continue reading Rental growth in most East Coast prestige residential markets strengthening
Record set to break for Newcastle property
A stunning beachfront home looks set to break the record of $7 million for the highest-selling residential property in Newcastle when it goes under the hammer next month. To be sold under the Online Friendly Auction System, the spectacular beachside Merewether home boasts 4 bedrooms, 3.5 bathrooms, triple garage, and was collaboratively designed by award-winning architects Chris Mury Architects and Shane Blue of Bourne + … Continue reading Record set to break for Newcastle property
REBAA: Buyer advocacy group calls on Victorian premier to allow private inspections
Australia’s largest buyer advocacy group is calling on the Victorian premier to reconsider its position on lockdown restrictions so that private inspections can recommence in greater Melbourne. Real Estate Buyers Agents Association (REBAA) president Cate Bakos said Sunday’s announcement by premier Daniel Andrews to extend the Stage Four lockdown restrictions to October 26 had stunned many buyers and sellers alike. “During the past five-weeks our … Continue reading REBAA: Buyer advocacy group calls on Victorian premier to allow private inspections
Demand for Residential Land Surges 70 per cent
“Housing finance figures released today show that lending for the construction of a new home rose in July for the first time since February, to the highest level in two years,” stated HIA’s Chief Economist, Tim Reardon. “Not only does this data show that there has been an increase in the number of loans for the construction of a new home, there was also an … Continue reading Demand for Residential Land Surges 70 per cent
Melbourne Population Exodus, 30,000 people to relocate, double-digit price decline
“A hard lockdown of more than 100-days will be the cause of the biggest shock to Melbourne’s economy that most of its residents have ever seen. It is highly possible that it could lose as many as 30,000 people over the next couple of years,” said Propertyology’s Head of Research. Tens of thousands of people are likely to relocate away from Melbourne over the next … Continue reading Melbourne Population Exodus, 30,000 people to relocate, double-digit price decline
Australia ranked 19 in the world for global house price growth
• Knight Frank has released its Global House Price Index Q2 2020, which tracks the movement in mainstream residential prices across more than 50 countries and territories worldwide using official statistics• Australia is ranked 19th in the world for global house price growth, with a 6.1% rise in house prices over the past year• Australia has risen up the global rankings from one year ago … Continue reading Australia ranked 19 in the world for global house price growth