Property market warms up across Australian capitals
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Property market warms up across Australian capitals

There’s signs of life but vendors are proceeding with caution

By KANEBRIDGE NEWS
Thu, Mar 23, 2023 10:56amGrey Clock < 1 min

Summer might be over but the residential real estate market continues to warm up with the second busiest auction week this year planned for this weekend, according to data from CoreLogic.

A total of 2,226 homes are scheduled to go to market, a 7.1 percent increase on the previous week.

Melbourne is leading the way, with 1,160 homes going under the hammer, up 10.8 percent on the week before. It’s slightly quieter in Sydney, perhaps due to the NSW State election this weekend, with 851 homes scheduled for auction, representing a 8.8 percent rise on the previous week.

It’s a different story in the smaller capitals, however, with Brisbane hosting 132 auctions (compared with 138 the week before), followed by Adelaide with 130 (119 the previous week) and Canberra with 93 (123 the week before). Perth has 14 homes due to go to auction this weekend, while Tasmania has four.

While the available homes for sale is showing stronger growth, the CoreLogic data reveals that the combined capital auctions are still down -29.4 percent on this time last year as the market continues to process successive interest rate rises.

Economic experts are predicting a hold on further interest rate rises when the RBA meets next month. 



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The best suburbs for investment opportunities in Australia in 2024

There’s money to be made in the property market — if you know where to look.

By Josh Bozin
Tue, Mar 19, 2024 2 min

If you’re a first homebuyer, owner/occupier or investor, you might feel that the property market is slim pickings in some of your favourite city suburbs. Either there’s no supply or the reserve is well above your budget threshold. However, for those property-savvy individuals prepared to look harder, there’s a growing number of suburbs in Australia’s major cities that are proving to be great investment opportunities…

—…you just need to know where to find them.

Independently-owned real estate agency, Little Real Estate, has released its annual report for the best Australian suburbs for investing. Investors searching for affordability, cash flow, and capital growth potential are being encouraged to consider regional locations, including four in Queensland.

“In 2024, we anticipate a surge in property prices fuelled by the relentless demand for housing outpacing the available supply,” says Little Real Estate executive general manager of sales, James Kirkland. “An exceptionally strong rental market, coupled with a shortage of housing, continues to exert upward pressure on house prices nationwide.”

Real estate analyst Hotspotting’s National Top 10 Positive Cashflow Hotspots echoes the findings of Little Real Estate’s annual report. Its analysis found that Queensland locations showed exponential capital growth, with the Sunshine State securing half of the top 10 locations.

“Cash flow has become increasingly important over the past two years, given the much higher mortgage repayments in play,” says Hotspotting director, Terry Ryder. “It is imperative that investors seek out areas that also offer capital growth prospects, often due to their booming local economies across a diverse range of industries.”

Which location is best for a property investment?

It depends! According to Little Real Estate, in 2024, the Sydney suburbs of Wiley Park and Kensington come out on top, along with Caloundra West and Southport in South East Queensland, and Carlton and Moonee Ponds in Melbourne.

What is the most in-demand suburb in Sydney?

The property market is certainly inflated in Sydney in comparison to other states but investors can still find some gems in certain pockets of the city. Take Penrith, for example. According to REA data, the average cost of a unit in Penrith costs $540,000, with a rental yield of 4.3%.

Which state is best for investment property in Australia?

It’s hard to go past Queensland as one of Australia’s best states for investment properties. With four out of ten suburbs in Queensland appearing in Little Real Estate’s annual report—including Southport, Caloundra West, Coomera and Bulimba—Queensland and its surrounding suburbs, typically regional, are presenting as great investment opportunities.

“Whether you’re an investor, a family looking for a new home, or a professional seeking the ideal work-life balance, these suburbs are the ones to watch for growth and potential in the upcoming year,” says Kirkland.

What is the fastest growing suburb in Australia?

According to Smart Property Investment, the fastest growing suburb in Australia is Chelmer, Queensland – a south-western suburb in the city of Brisbane, with a quarterly price growth of 29.33 per ent. This is followed closely by Frenchs Forrest in NSW, and Greenmount in Queensland.

 

MOST POPULAR
35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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