In an article for the website Your Investment Property, Phil McCarroll writes that the property prices in Sydney are growing resiliently. It is not time yet to entertain thoughts of a ‘bubble’ though. Sydney’s Residential Property Price Index (RPPI) has risen by 3.1% in the March quarter and 13% over the last year. Detached dwellings rose by 3.8% and apartment units rose by 2.2% over the quarter discussed.
You can read the original article here.
In an article for the website Your Investment
Property, Phil McCarroll writes that May 2015 has been that rare month when the prices of properties have actually come down. The fall of 0.9% may however remain a one-off incident.
Possibly, the fall in home values in the month of May was a result of price corrections that occurred due to a few really good months that went by. By June onwards, the property market is likely to come back strongly. The federal budget has been very well received and the low interest rate environment is not going to end anytime soon. Together, these two factors will help revive property prices in June.
You can read the original article here.
For two months now, the vacancy rate in Sydney has been less than 2%. In April, the availability rate was 1.9%. It is notable that the availability rate in Inner Sydney came down from 1.9% to 1.7% in April. While Middle Sydney affirmed the trend, coming down from 2.3% to 2.1%, Outer Sydney bucked the trend, going up to 2.0% from 1.7%.
A lot of apartment projects are coming close to their completion phase and this may mean an avalanche of new home options. It is not hard to decipher that the vacancy rate will only go up in the wake of the ‘happy tide of homes”.
You can read the original article here.
An article on the website Your Investment Property talks about Mandalay, a Point Piper property, which has been bought for $40 million. Spread over 1900 square metres, it has been purchased by a Chinese immigrant last month. Bill Webb, the former tobacco executive, had listed the property for $40 million- $45 million. The $40 million sale trumps the $39 million paid for the Villa Del Mare mansion last year. Mandalay, originally built in the year 1954, was redesigned four decades later in the year 1994, and has a good view of Manly and the Sydney Harbour Bridge.
You can read the original article here.
In an article for the website Your Investment Property, Alastair Lynn talks about why Sydney and Melbourne are expected to continue their winning momentum in 2015. Sydney is expected to show 10% growth and Melbourne 7% growth in the present year.
Falling interest rates will make entry into the property market a lot more streamlined. There is always a beeline of price-sensitive buyers and for them decreased mortgage repayment implies lesser burden and a strong incentive to hit the property market.
You can read the original article here.
An article on the website The Adviser talks about banks slashing one, two, and three-year fixed rates; thus keeping in tune with the RBA’s cash rate cut (25 basis points). Suncorp Bank declared along the given line, even as it cited that its diversified profile allowed it to offer strong returns to its customers.
For information, Suncorp’s Home Package Plus bagged most number of awards last year. Among other bits of news, 16 third-party banks have brought down their interest rates in a knee-jerk reaction to RBA’s cut.
You can read the original article here.
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