If I were to use the racing jargon, I would say that Sydney is simply cantering away from its rivals. Recording a 4.3% growth in median house prices for the September quarter, the harbour city has well and truly raised its tether and also raised the bar for its peers. Toby Johnstone in an article for The Sydney Morning Herald observes the trend.
Tracey's Property News
Sydney’s Performance Is Not A Barometer For Other Capital Cities
The property market is on recovery mode but rise in median house prices or capital city value growth should not be made an occasion for celebration just yet. Michael Yardney for the Property Update mentions how the 2.2% growth in median housing prices this quarter is quite moderate and even below the last quarter’s performance by 0.3%.
The average capital city value growth is not a true reflection of the country’s property market either. It’s just that Sydney to a very large extent and Melbourne in a smaller capacity have overcompensated for the patchy performance of other capital cities; and hence the growth.
Consumer sentiment, though reported otherwise, is still sloppy and there is sparse growth in household income. Recent oversupply in Sydney may impact rental yield negatively but the capital city itself (along with Melbourne) should continue to do well.
You can read the original article here.
Do you think Sydney will beat Melbourne flat in terms of value growth over next few years?
Sydney Promises “Frenzy” Of Construction Activity
A spectacular rate of auction clearances (“at auction” clearances) is just one trend that underpins how well the Sydney property market is doing. Add to this the fact that Sydney has topped the chart for “capital city value growth” and is showing promising figures for median household prices too. This implies that there will be rampant construction activity in Sydney in coming times.
Cameron McEvoy for the blog Real Estate View talks about a few interesting projects which are already on way or in the pipeline for Sydney.
Housing Report Reproaches Stamp Duty And Tax Regulations
A top Housing Policy Report has reproached Stamp Duty and present taxation standards followed by the government, informs an article on the online magazine Your Investment Property. The Report contests that Land Tax and Council Rates are necessary evils and also fair to a certain extent but Stamp Duty is well above acceptable standards and not allowing common public to gentrify.
The Housing Report further asserts that all the rules of taxation are heavily inclined towards property investment at the moment and is further widening the gulf between rich investors and cash-strapped first home buyers.
While the government merrily provides $40 billion in tax concessions to next-home buyers, owner-occupiers and investors, it continues to make life difficult for first home buyers.
You can read the original article here.
The Pros And Cons Of Property Investment
Australian property market has got enough in its sails to carry you across the path of fortune. In fact, it might just be the best time to move into the market, not overcautious but hungry to an extent. This being said, you will serve yourself well if you know the pros and cons of property investment beforehand.
Want To Know What Tenants Look For In A High-end Apartment?
Cameron McEvoy for the Property Observer talks about 10 features which are on the top of the minds of tenants paying big rent bills.
