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.
Location is on the top of the minds of Australian property buyers. This is followed by availability of amenities. To put it differently, the condition of a property hardly holds centre-stage in the criteria a buyer sets for himself today. Brendan Wong for The Adviser asserts that “property condition” has lost its traditional dominance.
It’s quite a feeling when you get your opinion voiced from other quarters as well. Being a person who has long been vocal against the use of term “bust” and “boom”, I feel vindicated while reading Mark Armstrong’s piece on the Property Observer. He asserts that we are not at or near a phase of property boom and the present growth is part of the natural property cycle.
In a recent article on home values, Cameron Kusher shares a few interesting statistics regarding growth in capital city home values and the longevity of growth periods in an article for the Property Update.
The housing market has shown fine momentum and the market confidence amply reflects in the upward curve of the construction sector. Tim Lawless for the Property Update talks about the hike in dwelling construction and partly attributes it to the low mortgage rates. Development activity has picked up all across Australia and unlike the resource sector; investment in housing sector should keep posting good numbers in times to come.
Australia has added a little in deficit of 400,000 heads to its population kitty over the last year. Places like Tasmania, Canberra and South Australia have not seen any appreciable population growth, one that has been witnessed by areas like NSW, Queensland, Victoria and Western Australia. Pete Wargent for the Property Update states that Western Australia has added most to its kitty when seen in terms of percentage hike.
