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" What's Happening In New South Wales " Residential Construction In NSW To Reach Seven-Year High

Residential building construction in New South Wales is expected to reach a seven-year high in 2015, according to a construction lobby. The number of residential dwellings to commence construction is forecast to rise 11% in 2015, according to Master Builders Australia’s Building and Construction Industry Forecasts. 27 January 2015. More. Byron Bay The Star Real Estate Performer On Australia's East Coast Byron Bay has significantly overperformed compared to other coastal areas across Australia's east coast, according to Domain Group data. Over the past year, there are several lifestyle coastal areas with strong results, however it's largely a mixed bag. 24 January 2015. More. Darling Point Lands Sydney's 10th Highest Sale Price

There are always a few notable sales just before Christmas, and December was no different. The most impressive deal was the non-waterfront residence of AsheMorgan head Michael Rothner and Lisa Rothner in Darling Point. Alison Coopes, of Agency by Alison Coopes, confirmed the property had sold in conjunction with Michael Pallier, of Sotheby's International 23 January 2015. More.

Fun Auction Technique To Be Used For The First Time In NSW

Romantic investors looking for a spectacular gift for their loved one could be in luck this Valentine’s Day. That’s when New South Wales’ first auction of a property starting with a reserve of just $1 is set to take place. 22 January 2015. More.

Sydney Is Third Least Affordable City For Home Purchases According To Global Study

We have the highest number of unaffordable real estate markets in the world and now Sydney has taken the bronze medal for pricey property a ccording to the 11th annual Demographia International

Housing Affordability Survey. 19 January 2015. More.

" What's Happening In Queensland " Queensland Worst For Mortgage Defaults

The Queensland suburb of Kingston leads the nation when it comes to homeowners falling behind on mortgage repayments. Figures from ratings agency Fitch show Kingston, in the Logan area south of Brisbane, tops the list of the worst 20 postcodes in Australia for mortgage delinquencies, by both the value of missed payments and number of households struggling to make repayments. 29 January 2015. More. Homes Above $5 Million Hit Pre-GFC Peak As Brisbane Prestige Sales Rebound

Prestige home sales have hit an eight-year high, with houses in the $5 million-plus range bouncing back to pre-financial crisis boom time levels. In a sign of strong market confidence, the Queensland capital saw 44 homes sell for over $3 million last year, 10 of which had price tags higher than $5 million. 24 January 2015. More. Major Bank Picks Brisbane As Best City For Capital Growth This Year

One of the biggest banks in the country has picked Brisbane as the best city for capital growth this year, with Queensland also emerging as one of two states to see higher than average house price growth. The latest National Australia Bank Residential Property Index tipped Queensland and Victoria as most optimistic markets. 22 January 2015. More.

Queensland 'Agent' Fined For Taking Over Sick Dad's Estate Agency

A Brisbane real estate agent has been ordered to pay $12,687 in fines and compensation by the Queensland Civil and Administrative Tribunal for operating without a real estate agent licence and the improper use of a trust account. 21 January 2015. More.

REIQ Calls For Stamp Duty Abolition, First Homebuyer Grant Reform And Super To Be Used For Loan Deposits

Queensland’s peak real estate body has challenged politicians to take on a trio of reforms that could supercharge the industry which currently provides 50,000 jobs across the state. Real Estate Institute of Queensland chief executive Antonia Mercorella said more needed to be done to strengthen the local real estate industry which contributed more than $8 billion to gross state product. 19 January 2015. More.

Issue # 086 January 30th

2015

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State Of The Nation Continued…

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"What's Happening In Victoria" Melbourne Boom Suburbs: Rush Of Listings Follows Price Growth

Homeowners are taking advantage of surging property prices and lining up to sell in Melbourne’s boom suburbs. The neighbourhoods where listings swelled 30 per cent or more were mostly those with a substantial price jump last year, according to CoreLogic RP Data. 26 January 2015. More. Do Apartments Need Design Standards?

The number of apartments in our cities and towns is increasing in line with international trends. Wh ile Australians have typically enjoyed larger apartments and homes than in most

parts of the world, rising populations are putting the squeeze on space as well as housing availability and affordability. 23 January 2015. More. Landlords Struggle As Rents Stagnate

Landlords in one capital city are facing a bleak outlook, as weekly rents fall or stay flat in some of the city’s prime locations. High levels of apartment construction are affecting rental growth and vacancy rates in Melbourne, the Domain Group Rental Report data shows. The December 2014 quarter report shows the median weekly asking rent for houses remained at $380, while unit rents dropped 1.4 per cent to $360. 22 January 2015. More.

Foreign Buyer Activity Hits New High In Victorian Property Market Overseas buyers have a growing appetite for Victorian real estate, with a survey showing one in three new homes is snapped up by a foreigner. The NAB Residential Property Survey shows foreign buyer activity surged to a new high in Victoria despite falling away in other states in the last three months of 2014. Overseas investors bought 32.5 per cent of new homes in the three months to December, compared to the 24.2 per cent bought by local owner occupiers. 21 January 2015. More.

Yields Remain Low In Melbourne Rental Market

Historically speaking, the performance of last year’s rental market in Melbourne was relatively moderate. In the last three months of 2014 the median advertised rent for a house in Melbourne increased by a minor 0.3% to $448 per week, the opposite to the -0.3% drop in the unit market. 18 January 2015. More.

"What's Happening In South Australia" Historic Jamestown Homestead North Bundaleer Could Be Yours ... Again

Always wanted to buy the historic Jamestown homestead North Bundaleer but couldn’t quite afford its $2.8 million price tag? Well, you may be in luck. The property, which hit the market in October 2013, went under contract last year, but is now back on the market with a lower price tag of $2.5 million. 28 January 2015. More.

Adelaide Homehunters Love The Best School Zones

Homes in the catchments for the best government schools are hot property in Adelaide. Being in the sought-after Brighton Secondary School zone in the city's south routinely adds $50,000-$100,000 to the price of a

property, says an agent who has sold in the area for nearly two decades. 20 January 2015. More. Adelaide Property Buyer Still A Mystery

The intended buyer of prime ­industrial land in Adelaide — under a deal that was brokered by South Australia’s Labor government behind closed doors without going to tender — is a yet-to-be-incorporated “development company” that is looking for at least $200 million from foreign investors. The $122m land deal, which was the ­subject of both a scathing Supreme Court judgment and a critical Auditor-General’s report, has been mired in controversy. 20 January 2015. More.

London-Based Alexander Downer Sells Adelaide Hills Home

The London-based former foreign minister Alexander Downer and wife, Nicky secured $1,125,000 when Brampton House, their Adelaide Hills ­family home sold mid-last year. Downer is

currently serving as Australia's high commissioner to Britain. 20 January 2015. More.

Adelaide Makes New York Times Hot List Still basking in the glory of a number five spot on The Economist Intelligence Unit Global Liveability Index of 2014, Adelaide has landed itself on another coveted list. The New York Times has named the South Australian capital one of it’s top ‘places to go’ in 2015. 16 January 2014. More.

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State Of The Nation Continued…

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"What's Happening In Western Australia" Highest Growth Suburbs Revealed The five suburbs which experienced the most rapid increase in prices in 2014 have been highlighted by one state's peak real estate industry body. The Real Estate Institute of Western Australia (REIWA) has provided a breakdown of the top five highest growth suburbs in Perth based on the latest reiwa.com data as recorded for the December 2014 quarter. Perth's highest growth suburb for the year to December 2014 was Coolbellup. 27 January 2015. More.

New Data Shows Almost Half Of First Home Owners Are Under 30, Compared To 31 Per Cent In 2008

An increasing number of young West Australians – some not even 21 – are buying properties. Latest statistics show the number of homeowners aged 30 or under has jumped 60 per cent since 2008, with almost 50 per cent of the state’s first-homebuyers now aged 30 or under. 25 January 2015. More. Why Perth Property Market For Units Will ‘Set Its Own Pace’

Nearly 2500 units are on the market in greater Perth and thousands more are in the pipeline, prompting the question: is price relief in sight ? House sales are also experiencing mixed signals

and property analysts are being cautious given the “volatility” of the market, with contradictory elements at play. 25 January 2015. More.

Karratha: One Of Australia's Most "Affordable" Towns, As Prices Decline

Karratha, in Western Australia's Pilbara region, was pinpointed as Australia's most affordable town, according to the 11th Demographia survey. The controversial research body noted Karratha's median property price was a supposed $440,000, on low sale volumes. 26 January 2015. More. Multimillion-Dollar Makeover To Boost Suburb's Investment Prospects One area in Western Australia is set to benefit from a $58.4 million redevelopment which could attract more residents and unlock its investment potential. The Scarborough Master plan, released by the Western Australian government on Tuesday, outlines a wide ranging redevelopment proposal for the seaside town. 22 January 2015. More.

"What's Happening In The Northern Territory" Darwin Property Market Future Uncertain The performance of Darwin's property market is dividing commentators, raising questions as to whether the NT capital is in a recovery or “full blown slump”. On Tuesday, SQM Research managing director Louis Christopher said the Darwin market was in a slump and was only getting worse. “Vacancy rates have continued to rise over summer, rents on our numbers are down 14 per cent and are in a clear downward trend,” he said. 29 January 2015. More. Palmy Palace Worth Same As Ex-Houso Heap In Darwin

Buy a flash house in Palmerston and you’ll pay the same price for an ex-housing commission home in Darwin. That’s according to the Northern Territory Valuer General John Love, who revealed the most recent unimproved capital value assessment for Palmerston and Darwin from 2011 to 2014. “Most investors or owner-occupiers in this market borrow to purchase,” he said. 20 January 2015. More.

NSW And NT Boast The Strongest Economies: Housing Sector Fueling Growth

New South Wales and the Northern Territory have the strongest economies in Australia, according to the latest instalment in CommSec’s State of the States report. Each quarter CommSec measures the performance of the state and territory economies against eight key indicators 19 January 2015. More.

"What's Happening In Tasmania" Housing Tasmania’s Damages Costs Slashed

Taxpayers have saved millions of dollars in damage bills following the transfer of responsibility for 4000 public housing properties to the non-government sector. However, Tasmanian taxpayers still look set to fork out about $2.1 million for “fire related claims” and $163,200 in “vandalism related claims” for public housing by the end of this financial year. 18 January 2015. More. Tassie Property, Construction Industries Most Confident In The Nation

Confidence in Tasmania’s property and construction industries is the highest in the nation, a national survey shows. The ANZ/Property Council of Australia survey of 1950 sector leaders found Tasmania’s confidence index had risen 17 points since December. 15 January 2015. More.

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State Of The Nation Continued…

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If you would like to voice your opinion on any article you have read in the State Of The Nation Newsletters or elsewhere that has concerned you, please send the article and your opinion on it to us and we will include it in a future issue of the State Of The Nation. Send your opinion to kevin@smartpropertyadviser.com.au

"Market Update" Residential Property Listings – What’s Happening And How Does It Compare To Last Year? Each week, CoreLogic RP Data monitors residential properties coming to the market for sale through what is commonly known as ‘listing activity’. Listings are tracked across three different categories; houses, units and vacant land. Listing counts provide a comprehensive look at stock currently available for sale at a national level and across each state and territory. 28 January 2015. More.

First-Time Buyers 25% Of The Market: NAB

A NAB survey of residential property markets provides further evidence that media reporting of first-home buyer activity is bunkum. The NAB survey finds that 25% of established homes sold are being bought by first-time buyers and that 24% of new homes are bought by first-timers. 28 January 2015. More.

Financial Conditions For Aussie Homeowners On The Rise Financial conditions for Australian homeowners are on the rise as low interest rates and rising house prices have boosted their wealth position. The quarterly St.George-Melbourne Institute Household Financial Conditions Report saw the overall household financial conditions index rise by 2.6% from September to December. 23 January 2015. More. Apartment Sales Reach Highest Level In 11 Years

Apartments are driving the increase in new home sales, according to the latest survey which recorded the second consecutive rise for sales in November 2014. The Housing Industry Association’s New Home Sales report recorded an increase in sales of 2.2% in November. 23 January 2015. More.

The 28 Suburbs Tipped To Enjoy Above Average 2015 Price Growth: NAB Economics Survey Brisbane (5.7%) and Sydney (4.1%) are expected to lead the market for capital growth in capital cities over this year, followed by Melbourne (2.7%), Adelaide (2.1%) and Perth (1.8%). 22 January 2015. More. Chinese Property Investment Skyrockets An inaugural report by global property group Knight Frank has found the total value of Chinese outward real estate investment has jumped 1,900 per cent since 2009. Launched last month, Chinese Outward Real Estate Investment: After the Initial Waves, What's Next? found Chinese property investment in overseas markets grew from US$0.6 billion in 2009 to US$12 billion in

2013. 20 January 2015. More.

"What's Happening Internationally" Rental Market Expected To Be Stronger Than Sales In Some Parts Of London This year is expected to bring fewer sales and more letting transactions, with strong rental markets across London’s Midtown, City and Docklands, a new report suggests. There will be a two tier sales market with demand for properties up to £1 million continuing to attract buyers and a slower market at prices over £1 million. 27 January 2015. More.

Economists Predict Cash Rate To Remain Steady, For Now

As the Reserve Bank's monthly monetary policy board meeting edges closer, the latest survey reveals economists and industry analysts are widely predicting the cash rate to remain on hold, but a change in the near future is imminent. The monthly Reserve Bank survey compiled by finder.com.au found that 28 of the 30 economists and analysts surveyed expect the cash rate to remain steady at 2.5% on Tuesday 3 February. 30 January 2015. More.

Controversy Corner

Abbott Government Performance Drag On Economy, CFOs Say The Abbott government's performance is the biggest drag on the confidence of chief financial officers, putting a stay on their investment decisions even though funding is cheap and plentiful. 29 January 2015. More.

Some Parting Advice

“Too many people allow themselves to be pressured into the sale without doing the required research. Research is important!”

Until Next Time… Kevin Lee

www.smartpropertyadviser.com.au