Amidst Australia’s historic two-year rate hike cycle, the property market has become a picture of resilience and decline, showcasing stark contrasts across cities, suburbs, and regions.
A CoreLogic Australia analysis comparing the property market’s performance two years before and after the rate hike cycle reveals that home values across the nation have risen only 2.8% since April 2022, contrasting sharply with the substantial 31.7% increase observed in the preceding two years.
CoreLogic Research Director Tim Lawless said the relatively small capital gain over the past two years is a legacy of the -7.5% drop in national values during the early phase of the rate hiking cycle when the national index consistently fell between May 2022 and January 2023.
Since CoreLogic’s national Home Value Index bottomed out in Jan 2023, values have risen every month to be 11.1% higher.
”The perception might be that property values are continually increasing but we can’t forget the short and very sharp downturn that occurred in the immediate aftermath of the first rate increases,” he said.
“Since the market bottomed there’s been 15 consecutive monthly increases in values nationally, but that performance is not indicative of the entire market. Underneath the headline figure there’s significant diversity in the housing market’s performance.”
The percentage change in housing values through the rate hiking cycle to April 2024 ranges from a 25.7% surge in Perth house values, to an -11.2% drop in Hobart house values. In Sydney, house values have increased 0.4% in the past two years compared to Melbourne where houses are now -4.2% more affordable than they were in April 2022.
“Such a discrepancy in growth rates highlights the diversity of market conditions over the past two years. This reflects the complexity within local markets. While some cities have exhibited resilience driven by robust economic fundamentals and housing demand, others such as Melbourne, Hobart and Canberra, where housing is more affordable now compared to two years ago, have grappled with factors such higher supply, affordability constraints and weaker demographic trends,” Mr Lawless said
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Position: Executive Secretary to the Director Location: Wentworthville, NSW Company: Move Realty
About Us: Move Realty is a premier real estate agency dedicated to providing exceptional service to our clients. With a focus on integrity, professionalism, and client satisfaction, we have established ourselves as a leader in the industry. Our team is comprised of passionate individuals who are committed to excellence in every aspect of their work.
Job Description: As the Executive Secretary to the Director, you will play a pivotal role in supporting our Director in managing administrative tasks and ensuring the smooth operation of the office. Your responsibilities will include:
Requirements:
Benefits:
If you are a dedicated professional looking to join a dynamic team in the real estate industry, we want to hear from you! To apply, please submit your resume and cover letter outlining your qualifications and why you would be a great fit for this position.
Join us in shaping the future of real estate and making a difference in the lives of our clients!
Email your resume to admin@moverealty.au
Investing in a self-managed super fund property has become an increasingly popular strategy in Australia, offering SMSF members greater control and flexibility over their retirement savings. With the ability to invest retirement funds directly in real estate, many SMSF trustees are considering using their fund to purchase residential or commercial self managed super fund property.
But while property investment through an SMSF can be a lucrative strategy for some, there are a range of compliance requirements and regulations involved that you need to understand before deciding if this is the right investment approach for your fund.
As with any major financial decision, educating yourself on the positives and potential drawbacks is crucial.
So here’s what you need to know about how self managed super fund property investment works and what’s involved if you want to use your SMSF to purchase real estate.
Self-Managed Super Funds (SMSF) are a type of Australian superannuation fund managed by its members rather than a professional fund manager.
SMSFs give members greater control and flexibility over their retirement savings, allowing them to make their own investment decisions, including what they want to invest in and how much risk they’re willing to take on.
Beyond the versatility of this investment structure, they’re particularly popular amongst investors within higher tax brackets, as the Australian Taxation Office (ATO) only taxes SMSF income at a rate of 15%.
For this strategy to work, you must comply with extensive regulations, as these investments have a direct connection to your retirement fund.
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Disclaimer: –
The above information has been gathered from sources that we believe are reliable. However, we cannot guarantee the accuracy of this information and nor do we accept responsibility for its accuracy. Any interested parties should rely on their own enquiries and judgement to determine the accuracy of this information for their own purposes.
The real estate market is experiencing an unprecedented surge in demand for urban properties, as buyers seek comfortable and convenient living spaces in the heart of bustling cities. This surge comes despite initial concerns about the pandemic’s impact on the real estate sector.Experts in the industry report that the desire for larger suburban homes that was observed during the height of the pandemic has now shifted back to a preference for urban living. This shift is attributed to a combination of factors, including the relaxation of remote work arrangements and the revival of city amenities as vaccination efforts progress.
In February, national home prices rose 0.18% as limited supply and sustained buyer demand supported property values.
The housing market downturn stalled in February and Australian home prices bounced 0.18% to sit 3.90% below their peak.
Prices bounced in every capital city, except Hobart (-0.29%), with Adelaide (+0.44%) the strongest performing capital city market over the past year, while Sydney (+0.36%) and Melbourne (+0.18%) recorded the largest jumps.
These dynamics have been influenced by the availability of properties for sale, with lower stock levels concentrating potential buyer interest and underpinning home prices. The converse is true in Hobart, the only capital city where total listings were up compared to the previous five-year average, giving buyers more choice and lessening competition.
Home prices in Adelaide rose in February to reach a fresh price peak, while home prices in Perth rose 0.13% to sit 0.24% below their November 2022 peak. The comparative affordability of both city’s homes has seen prices hold up better as interest rates have quickly risen. Low stock levels have also helped to insulate home values. The total number of properties listed for sale in Perth hit a record low in January, while the total number of properties listed for sale in Adelaide was down more than 30% on the prior five-year average. Low stock levels have concentrated buyer demand, which on a “per listing” basis in both capitals was sitting at a record high in January 2023.
Regional South Australia, the strongest performing market out of the 16 Greater Capital City Statistical Areas (GCCSAs) that cover the whole country, continued to record strong growth. Prices rose 0.60%, the strongest pace of growth in February, and reached a new peak. Prices were 11.85% above February 2022 levels.
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Disaster funding has been approved for 22 local government areas (LGAs) following severe storms and flooding.
Which LGAs are eligible for disaster funding?
The LGAs are Blacktown, Blue Mountains, Camden, Canterbuy Bankstown, Campbelltown, Central Coast, Cessnock, Fairfield, Georges River, Hawkesbury, Hornsby, Kiama, Lithgow, Northern Beaches, Penrith, Shellharbour, Shoalhaven, Sutherland, The Hills, Wingecarribee, Wollondilly and Wollongong.
Disaster assistance available:
Who is eligible for flood recovery payments?
A flood recovery payment is a lump sum of $1000 per eligible adult or $400 for each eligible child.
To be eligible you must live in one of the listed LGAs and have been substantially affected by the flooding.
How much is the disaster recovery allowance?
A disaster recovery allowance is a short-term income for those who are unable to work as a result of the flood.
$350 a week for a maximum of 13 weeks has been made available to eligible residents.
For more information visit:
NSW State Emergency Service (SES)
National Recovery and Resilience Agency
Serivce NSW
Our thoughts are with all affected communities and members of the property industry at this time. We urge you to continue to look out for each other! And we will bring you more information as it becomes available.
Stay safe everyone!
State Support
Financial support has been announced by the NSW State Government for Northern New South Wales local government areas of Ballina, Bellingen, Byron, Clarence Valley, Coffs Harbour, Kyogle, Lismore, Richmond Valley, and Tweed.
You may also call 13 77 88 and ask about the disaster relief grant administered by Resilience NSW.
Flood Disaster in Queensland and NSW
Photo: courtesy smh
NSW Council of Social Service (NCOSS) has already prepared a complete range of resources for fast access to information on:
Federal Support
The Federal Government’s support is currently limited to affected communities in Queensland, however, that is expected to change over the next day or so.
Financial Support Disaster Recovery Payment
Queenslanders in eligible Local Government Areas (LGAs) can apply for Services Australia’s Disaster Assistance with further flood-affected local government areas in QLD and NSW expected to be added. Check if your LGA has been added here.
Phone line: 180 22 66
The Disaster Recovery Allowance (DRA) payment provides $1000 per eligible adult and $400 per eligible child. It is a one-off, non-means-tested short-term income payment to assist employees and small business persons who have suffered a significant loss, including a severely damaged or destroyed home or serious injury.
Photo: courtesy BBC
Rabobank support
Rabobank has announced a range of support measures that will be offered to its farming clients adversely impacted by floods and extreme rainfall in the NSW Northern Rivers and Queensland South-East regions.
Rabobank will work directly with individual clients whose farms or agribusinesses have been affected, to provide support and offer a range of assistance measures in applicable circumstances, including:
Any farming clients who have been adversely impacted by the floods and have not yet spoken to the bank should contact their local branch or phone Rabobank on 1800 025 484.
Our thoughts are with all affected communities and members of the industry at this time. We will bring you more information as it becomes available.
Courtesy: The Real Estate Institute of New South Wales Limited 30–32 Wentworth Avenue Sydney NSW 2000
Eliza Owen
2 Sep 2021
The past 16 months have seen remarkable levels of adaption in the real estate sector, government stimulus and economic decline and recovery. Amid renewed and extended lockdowns, some indicators suggest the housing market has been even more resilient to lockdowns in 2021 than through 2020. But there is some suggestion not all pockets of the housing market remain robust.
This article unpacks a few ways housing market performance has evolved through lockdown in 2021 compared with 2020.
Consumer confidence has been more resilient
Consumer sentiment is an economic indicator that is generally positively correlated with home sales. This makes sense, given consumers would presumably be optimistic about their own financial situation when deciding to make a large financial commitment like a home purchase.
The consumer sentiment response has changed with each new set of extended lockdowns through COVID-19, with the decline in sentiment in 2021 becoming shallower, but lasting longer.
Figure 1 compares the ANZ Roy Morgan weekly consumer sentiment index through various lockdowns since March 2020, represented by the shaded areas in the chart.
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The pace of home price falls has eased in recent months, with the housing market downturn losing... Disaster funding has been