Michael Yardney has been very clear in dismissing any noise which says Sydneysiders have missed the “property boat”. In an article for the website Property Update, he says that rather than making spur of the moment decisions about a market, one must coolly judge figures and statistics. The good thing about stats is that they don’t lie! Only this time, he treads a little more carefully and talks with a more balanced perspective.
Tracey's Property News
Property Market is the Biggest GDP Contributor
In an article for the website Your Investment Property, Phil McCarroll talks about the figure furnished by the Property Council of Australia. It says that real estate contributed nearly 12% of the GDP of Australia in the last FY. Services pertaining to finance and construction in the property market have together bought business of about $182.5 billion and this is equivalent to 11.5% of the Australian Gross Domestic Product.
Why Research is Essential Before Buying a Property
Researching on the right property is not an easy task because there are so many things to keep in mind. Before everything else, you have to think about your budget and also the point to which you can stretch yourself. Then you must also think about the location of the property. Due diligence, indeed, is the cornerstone of buying a good property.
May Witnesses Fall in Home Values
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.
Residential Properties Replacing Office Properties
Phil McCarroll writes a piece for Your Investment Property wherein he talks about a boom in the fortunes of residential properties and how they are ready to compete with office stock in Sydney. Some 1,80,000 square metres of office stock is due to be removed in the next few years and the space thus created will be used for residential purposes.
Vacancy Rate on the Rise
In an article for the website Property Update, Shannon Davis sheds light on the increasing vacancy rate. The property rates are rising and so should the rents. So why aren’t they? This, writes Davis, is because the hike in property rates enhances the ambitions of investors so capital growth definitely makes for an upward curve. The same cannot be said about the rental yield.
