Sydney's median house price will top $1 million before this decade is out, new data from Residex has found.
Just a decade ago, Sydney's median house price was $328,000 with few believing it would surpass $500,000. It is currently around $630,000.
Publication: Mortgage Business Date: Friday, 15 January 2010
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Looking to rent a house in Sydney's Rose Bay, or in Melbourne's Toorak? Or trying to find an apartment in Brisbane's West End or Adelaide's Glenelg? Asking Rents have soared.
Weekly asking rents for houses nationally have increased 3.4 per cent, and 4.1 per cent for units, over the 12 months to September 2009.
Publication: The Australian Financial Review Date: Thursday, 19 November 2009
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The Australian property market is gearing up for a boom year dominated by investors.
LJ Hooker real estate agency expects the majority of investors to hail from abroad, with the company establishing a Chinese-language website.
The real estate’s decision to launch a foreign website came after the government amended its investor regulations.
Today, foreigners who hold a temporary Australian visa for more than a year, and those holding a bridging visa while they apply for permanent residence, can now buy established as well as new homes.
Selling agent Michael Pallier from Raine & Horne’s branch in Sydney’s Double Bay told The Australian Financial Review, that since those changes were made, the level of foreign investor interest had soared.
Mr Pallier said at least five of his own sales worth more than $10 million each went to Chinese investors.
Sydney based valuer, Luke McNeilly said buyers with overseas address were mostly from Asia and often paid hundreds of thousands of dollars above market price.
“They are mostly buying into suburbs that are close to the city. Ultimo, Sydney [CBD], Haymarket, Camperdown, Broadway, they’re the suburbs where it happens fairly regularly,” Mr McNeilly said.
Publication: Mortgage Business Date: Tuesday, 12 January 2010
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Warringah Council has approved a master plan for Warringah Mall which will see the shopping centre grow in retail space by 35,000sq m by 2021.
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Publication: The Manly Daily Date: Friday, 11 December 2009
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For those who think Sydney property is too expensive, Brian Haratsis is the bearer of bad news. The managing director of property consultancy MacroPlan Australia believes the nations largest city is on the verge of a population boom that will lift prices further, and those who stand to benefit are the people who can afford to buy now...
Publication: The Australian Financial Review Date: Tuesday, 5th January 2010
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