Friday, February 11, 2011

Melbourne, Sydney lead house price gains

Melbourne, Sydney lead house price gains

Chris Zappone
January 31, 2011 – 12:01PM

Update Melbourne and Sydney led house price gains across the country in 2010 although the pace of the increase tapered off towards the end of the year, according to a real estate research group.

Among the major cities, Melbourne’s median house prices rose 8.4 per cent in 2010 and 1.1 per cent, seasonally adjusted, in the final three months of the year, to $505,000, RP Data/Rismark said.

Sydney’s house prices rose 6.6 per cent for the year and 0.9 per cent for the quarter to a median level of $525,000, the researcher found.


It's good to know that investments are doing well in Sydney. We can look forward to more investments in properties this year.

Article source: http://zincip.biz/2011/01/31/melbourne-sydney-lead-house-price-gains/

Thursday, February 10, 2011

Sydney is experiencing a new property growth cycle

About Sydney Property

3946 15 thompson 051 300x199 About Sydney PropertySydney is a multicultural city with a population of just over four million and a lifestyle that makes it one of the most desirable cities in which to live. It also has some of the best real estate available anywhere in the world. Sydney’s property market is keenly sought-after by home buyers, investors and developers. It boasts a resilient economy, a stable political environment, abundant natural resources and a highly educated workforce, while a spectacular harbour, stunning surf beaches and breathtaking skyline combine to define the city as a major international destination for those who wish to visit or move/invest here permanently.

The value of Sydney property has traditionally doubled every 7-10 years over the last century. The median price for houses is now $602,250 (as at May 2010), with 25 suburbs commanding a median price in excess of $1 million. Leading economic forecasters, BIS Shrapnel, predicts prices will continue to rise 21% over the next three years and further over the long term.


3946 15 thompson 054 300x199 About Sydney PropertyWhile the last property boom was in 2003, Sydney is experiencing a new property growth cycle with a situation of continuous under-supply. This is evidenced by rental vacancies which have fallen to a record level of around 1.0%, healthy auction clearance rates and price increases in high demand locations.

The Sydney property market can be divided into nine major zones: Eastern Suburbs and CBD, Northern Beaches, Lower North Shore, Upper North Shore, Northern Districts, Hills District, Inner West, Southern Suburbs and Western Suburbs. Identifying the hot spots of capital growth requires strong market knowledge and analysis. PK Property closely monitors the Sydney market and can advise international clients on areas that are likely to provide significant long term capital growth.

That is why Sydney is a vibrant market for investors, developers and home buyers. So, what are you waiting for?

Call one of our Buyer’s Agents now on (+ 61) 2 9904 3444 or email us today to obtain a fixed price quote or obligation-free property consultation on securing your slice of Sydney today.

Article Source: http://pkproperty.com.au/about-sydney-property/

Saturday, February 5, 2011

SYDNEY REAL ESTATE HOT SPOTS


SYDNEY REAL ESTATE HOT SPOTS

“In 2010, residential property in Sydney is viewed as commencing the next upswing of the cycle…read on to find the next Sydney real estate hot spots…”

Real estate is hotting up in Sydney with new research revealing the medium house price for houses will rise over the million dollar mark in 2020, the Sunday Telegraph reveals. This means an estimated 625,000 houses across the metropolitan area will have a value of more than $1 million changing the face of Sydney real estate hot spots.

Growth areas include Rouse Hill and Kellyville in Sydney’s north-west. Similar growth is expected for Narellan Vale, Abbotsbury, Cecil Hills, Bligh Park, Glen Alpine, Woronora Heights, Wattle Grove and Kellyville Ridge with an expected of price tag of over $1 million in 2020.

Sydney real estate hot spots are traditionally growth areas, up and coming suburbs and locations with changing demographics. Premium suburbs within 10 to 12km of the CBD, luxury waterfront and prestige properties and those that have scarcity value are likely to perform well.

John McGrath from McGrath Real Estate says his top picks for property investors include suburbs like Dee Why in the northern beaches, Coogee in the eastern suburbs, Erskineville and Surry Hills in the inner city and Lane Cove and Cammeray in the northern suburbs of Sydney.

The luxury property market in areas such as Palm Beach who were the hardest hit by the Global Financial Crisis is also set to make a price recovery in 2010. Apartments in areas close to the city, such as Cremorne Point and Balmain, are expected to make strong returns for investors by 2020.

A growing migrant population and not nearly enough houses are also driving up house prices in Sydney. The Sydney Metropolitan Strategy says Sydney needs to cater for an extra 1.12 million people in the next 25 years.


The positive thing about this news is that we can make good investment by knowing the best buy by looking at the "down swing phase" of the property cycle.


Article source: http://www.amandaonmyside.com.au/blog/sydney-real-estate-hot-spots/


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