19 hours ago
Rents growing at 20% per year in some areas !
National property rents jumped 6.6% between the June 2020 and June 2021 quarters, the biggest annual increase since 2009. So which parts of the country have led the charge?
The strongest rental growth has been occurring in Darwin, Perth and parts of regional Australia, accordingly to CoreLogic:
1. SE Tasmania = 23.7%
2. Darwin = 21.8%
3. Mandurah WA = 21.0%
4. Richmond-Tweed NSW = 19.9%
5. Sunshine Coast Qld = 17.8%
6. SW Perth = 17.6%
7. NE Perth = 17.3%
8. Coffs Harbour-Grafton NSW = 16.7%
9. SE Perth = 16.5%
10. NW Perth = 16.3%
Conversely, there were nine areas where rents went backwards over the year – four in Sydney, four in Melbourne and one in outback Northern Territory.
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1 day ago
Increased support is available if you cannot work due to a New South Wales COVID-19 public health order.
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2 days ago
Why property prices are surging right now -
Property prices are growing at their fastest annual rate since 2004, but this is not solely due to low interest rates, according to one expert.
Property Investment Professionals of Australia chair Peter Koulizos said price growth is being driven by "extremely strong demand from buyers and a low supply of property for sale", rather than the Reserve Bank’s decision to reduce the cash rate from 0.75% in February 2020 to a record-low 0.10% in November.
Mr Koulizos said that after analysing interest rates and property prices over the past two decades, he'd found "low interest rates don’t mean property prices automatically rise significantly" (see chart).
While interest rates are important, he said other factors also influence property prices:
* Banks' lending policies
* The strength of a local economy
* Internal, interstate and international migration
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3 days ago
New survey reveals stunning rebound from 2020 recession!
Business conditions have reached record-high levels, according to the NAB quarterly business survey.
However, there’s a catch – the survey was conducted in late May and early June, so it only partially covered the earlier Victorian lockdown and missed the current lockdowns in NSW, Victoria and South Australia.
Business conditions jumped from +20 in the Q1 survey to a record +32 in the Q2 survey.
Business confidence fell from +19 to +17, but this is still well above the long-run average.
NAB chief economist Alan Oster said these results marked a stunning turnaround from the third quarter of 2020, when business conditions were in negative territory.
“A pleasing aspect of the survey is how broad-based the strength in conditions and confidence was – whether you look by industry or by state they are all above average, and in many cases well above,” he said.
“Another pleasing aspect of the survey is the continued strength in leading indicators, which points towards robust growth continuing.”
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