Parents Help FHBs The Bank of Mum and Dad is supporting young buyers with an average contribution of $40,000 to help their children get into the property market. New data from Compare the Market shows that about 29% of homeowners with a mortgage received financial help from their parents. Compare the Market’s Andrew Winter says […]
Vacancies Tight, Rents Grow While the days of double-digit rental increases have passed, new data shows rents are continuing to rise. Cotality’s quarterly rent review shows nationally rents are up 4.3% over the year to September. The latest results mean rents have increased 43.8% in the past five years. It says supply continues to be
Where Density Is Rising As Australia’s population continues to surge, new data shows the locations that can expect the biggest increase in urban density in the next year. The top suburb for growth is Eastgardens in Sydney, where density is expected to increase by 16.64 dwellings per hectare in the next 12 months. Other Sydney
The Australian Megan Neil A fear of missing out has gripped investors as they go head-to-head with first-home buyers to secure affordable properties, driving a “market frenzy” and panic buying ahead of expected price rises. The earlier start of the federal government’s expanded 5 per cent deposit scheme on October 1 has brought forward demand
Geelong Advertiser Peter Farago Two entire blocks of flats next to Geelong’s main hospitals have generated more than $5m in sales as investors’ appetite for Victoria’s second city grows. The mid-century properties comprising 15 separate two-bedroom units were secured by investors in separate deals handled by Gartland Geelong agent Tony Young. The second of the
The Australian Megan Neil A fear of missing out has gripped investors as they go head-to-head with first-home buyers to secure affordable properties, driving a “market frenzy” and panic buying ahead of expected price rises. The earlier start of the federal government’s expanded 5 per cent deposit scheme on October 1 has brought forward demand
Build to Rent Sector Surges Australia’s Build to Rent sector is surging, with the national pipeline now worth more than $30 billion. According to the Property Council of Australia, the value of the sector has grown by 35% in the past year. BDO Partner Luke Mackintosh says the sector has the potential to grow substantially
Hotel Investment Potential Growing Investment in hotels is picking up pace with new international flight routes and growing demand set to “supercharge” the sector. A new report, Runway to Room, by CBRE tracks the launch of 56 new international flight routes in the past 12 months, which added more than 10,500 flights to key Australian
Approvals Remain Stable Housing approvals have remained fairly stable across Australia in the past three months, despite a slight dip in August. New monthly home building approvals data show a dip in apartment approvals in August of 2.9%, but HIA Senior Economist Tom Devitt says approval levels are pretty much on a par with the
Taxes Biggest Concern The continual increase in taxes and levies on property construction and investment is having a big impact on industry confidence. The latest Procore/Property Council survey of industry experts shows a doubling of the number who are concerned about how the sector is taxed. At a state level, 32% of respondents named property
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