New price caps unveiled in extension of the First Home Loan Low Deposit scheme
6 Oct 2020 | Author: Jonathan Chancellor | Source: Property ObserverThe extension of the First Home Loan Deposit scheme was confirmed in last night’s federal Budget with new property price caps.The expanded scheme, initially announced on Saturday, will allow an extra 10,000 first-home buyers this financial year.“This builds on the 20,000 first home buyers we are helping to purc...
How will the property market look once borders open?
Source: Propertyupdate.com.au There’s an elephant that’s about to make its presence felt in the property market and it’s a huge potential game-changer. It won’t be deterred by rising unemployment, housing finance restrictions, buyer confidence or economic downturns.It has the power to radically alter housing prices and rents, and it’s about to be unleashe...
Consumer confidence hits three month high
Consumer confidence rose +1.2 per cent last week to 93.5, according to ANZ-Roy Morgan, a 13-week high.However, confidence levels remain well below the monthly average since 1990 of 112.6, and even still a reading of 93.5 is equivalent to what Australia experienced through the financial crisis. Source: ANZ-Roy Morgan On March 29 the COVID shock saw consumer confidence reading hit t...
What do housing approval trends mean for the property market?
Whilst the number of attached dwelling non-starts have fallen – which is a good thing – the 21,500 not yet commenced attached dwellings (which are mostly mid-to-high rise apartments) account for a third (32%) of all new attached dwellings approvals last year.In contrast, the 9,000 approved but not yet started detached houses accounts for just 9% of last year’s total detached h...
Sunshine Coast Rentals Dominates Realestate.com.au Searches
People are still determined to make that sea or tree change six months after the onset of COVID-19.According to realestate.com.au, a property listings website, regional areas have registered a significant increase in popularity, in a trend that is particulary prevalent in Queensland.The small town of Biloela in the Banana Shire received a 197 per cent growth in views per listing for houses for ...
Tenants compete for rentals as Sunshine Coast vacancy rates tighten
Competition over rentals in some of Australia’s regional towns is so fierce that some tenants are offering to pay three months’ rent in advance to secure a property.Others are applying for rentals before they have even had a chance to look through them in person.Eleven regional areas across NSW, Victoria and Queensland recorded rental vacancy rates of less than 1 per cent in July, S...
Regional Queensland Sparks Potential
Queensland's housing market was not left unscathed by the COVID-19 outbreak, but its southeast region could drive the recovery in the long-term, a report from CoreLogic shows.Before COVID-19 took its toll on the economy, several factors indicted growth across the state's dwelling markets, particularly in the South East Queensland (SEQ) region, according to the report.A factor was the moderation...
Double-digit regional unemployment rates: CommSec's Ryan Felsman
While Victoria and NSW have been hardest hit by the health crisis, Queensland’s job market has fared worst.The Sunshine State’s unemployment rate was the highest in Australia at 8.8 per cent in July – a 19-year high. And 144,500 jobs were lost between February and July as international and state border closures impacted tourism.Of the 20 regions with the highest unemployment r...
Is the Sunshine Coast property market approaching it's peak?
In a report released by Herron Todd White this month, "National Property Clock" which has tipped the Sunshine Coast as approaching the peak of the market.This is their commentary on the current Sunshine Coast market.In the early stages of 2020, we experienced the escalation of COVID-19, which in turn led to restrictions on social interaction and ultimately nationwide lockdowns a...
