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Gen Y is the most upbeat about property prices

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Moreton Investor, Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market,Moreton property prices

QUEENSLANDERS are more positive about housing affordability than anywhere else in Australia, with Generation Y the most upbeat of all when it comes to property prices, according to new research.Moreton Investor, Property Management, Real estate Moreton, Mortgage Broker Moreton, Moreton property market,Moreton property prices

The annual realestate.com.au Housing Affordability Sentiment Index (HASI), which tracks the sentiments of Australians towards the cost of housing, reveals that all states and generations have a brighter outlook on property prices in general than 12 months ago.

This is despite statistics based on the RP Data-Rismark Daily Home Value Index showing capital city home values have all improved over the last year.

The HASI results were driven by an easing of household expenses and debt combined with increasing household savings.

The index also revealed that first-home buyers are returning to the market, making up 46 per cent of those looking to buy, compared with 28 per cent at the same time last year.

The HASI is based on a national survey of 2400 online panel members conducted by independent research company Research Ink on behalf of realestate.com.au.

In Queensland, 37 per cent of respondents believed their finances would improve (an increase of 6 per cent from 2012) and 28 per cent believed housing affordability would improve (up 7 per cent from 2012).

Generation Y (born 1981-1993) are the most positive about housing affordability in the country, driven largely by an optimistic outlook on their finances with 45 per cent expecting their financial position to improve over the next six month – significantly more than any other generation.

Fourteen per cent of the Generation Y’s surveyed reported they owned an investment property and home – an increase of 6 per cent on 2012 – and 24 per cent of those in the property market said the current economic conditions had increased their likelihood of buying or building.

Place Estate Agents Bulimba sales agent Shannon Harvey said she had seen a younger age group coming back to the market this year.

“They have been the most fragile with the volatility of the market previously, whereas the older buyers have seen it all before,” Ms Harvey said.

“Sentiment in definitely up.”

Narangba Gen Yer Jeremy Baker, 27, said he and his partner had opted for position over price when buying their first home earlier this year.

“We could’ve bought something more affordable but the location wasn’t desirable,” Mr Baker said.

He said the couple’s strong job security had been a key factor in purchasing, although low interest rates had also played a part.

Financial commentator and Finance Editor for research and ratings organisation CANSTAR, Justine Davies, said the research was flagging what buyer activity was expected to look like in the near future and the jump in first-home buyers looking to enter the market was encouraging.

“To me that indicates there is a real feeling now that home ownership is becoming more affordable, in part due to low interest rates that are boosting consumer sentiment,” Ms Davies said.

“As well as low interest rates though, there’s also the fact that Gen Y are getting older, with a greater proportion of Gen Y settling into their careers and, as the HASI found, feeling financially confident.

“That confidence is translating into a willingness to enter the property market.”

She said consumer confidence was vital to the property market for two reasons.

“One – from a buying point of view because it encourages potential buyers to get proactive: to visit their financial institution, work out their borrowing capacity and start actively looking,” Ms Davies said.

“Consumer confidence is also important in encouraging owners to list their property for sale. If there is no, or low, confidence some owners will delay listing, which reduces the available stock and therefore the flat market becomes a self-fulfilling prophecy!

“So I think consumer confidence creates more buyers, encourages for properties to be listed for sale and is therefore good for everyone.”

The latest housing finance figures from the Australian Bureau of Statistics shows first-home buyer finance commitments increased over the month of July, up 8.6 per cent to 7977.

National results from the HASI included:

• More than half of those in the market to buy or build were willing to sacrifice or reduce spend on recreational vehicles (66 per cent), luxury items (73 per cent), car upgrades (63 per cent), overseas holidays, clothing and entertainment to attain their dream

• Of those in the market to buy or build, 46 per cent (up 4 per cent) were willing to increase their current level of debt by more than 10 per cent to attain their dream

• A third or less were willing to sacrifice property features, with the exception of a pool

• 57 per cent (up 5 per cent) were willing to buy or build more than 10km outside of their ideal location

• 23 per cent would consider buying with a friend or family member

 

Original article published at www.news.com.au by Teela Jurgensen, The Courier Mail, 21/9/2013

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Revealed: These are the hottest suburbs in Brisbane for 2019

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Revealed These are the hottest suburbs in Brisbane for 2019
Revealed These are the hottest suburbs in Brisbane for 2019

THE hottest suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

THE hottest suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

THE hottest growth suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

Terry Ryder of Hotspotting has released his latest Price Predictor Index, which tracks rising sales in suburbs across the country and identifies the places likely to deliver strong price growth in the near future.

The index found 33 suburbs in Brisbane were “rising steadily”, with the strongest market being the affordable Moreton Bay region.

Revealed These are the hottest suburbs in Brisbane

“The Brisbane market is showing signs of uplift, with more growth suburbs emerging in the latest survey,” Mr Ryder said.

In fact, Moreton Bay is the second strongest growth market in the country — eclipsed only by Port Adelaide — with 10 suburbs classified as “rising steadily”.

These include Clontarf and Woody Point, which have seen increases in sales activity.

Mr Ryder said the suburbs’ drawcards included affordable prices, new rail links, a soon to completed new university campus and a bayside lifestyle.

Revealed These are the hottest suburbs in Brisbane 2019

The second highest ranked market after Moreton Bay is Brisbane south, which has eight rising markets — many surprise contenders as they have beaten bluechips to take out the top spots where prices are expected to outperform.

Those suburbs are Mt Gravatt East, Corinda, Forest Lake, Mansfield, Oxley, Parkinson and Sunnybank Hills.

Most of these fit into Brisbane’s “middle market”, with median house prices in the range from $650,000 to $800,000.

Revealed These are the hottest suburbs

The number of growth suburbs in Brisbane’s north have risen from four to seven in the latest survey, with rising demand occurring in Alderley, Bald Hills, Brighton, Geebung, Gordon Park, Newmarket and Stafford Heights.

Across the state, Clinton in the Gladstone region is the top growth suburb in Queensland, while Emerald in central Queensland, Kearneys Spring in Toowoomba, Little Mountain on the Sunshine Coast and Torquay in Hervey Bay also make the list.

Brisbane’s south, Mackay and Moreton Bay are among the national top 10 regions with the highest number of growth suburbs.

Revealed These are the hottest suburbs in Brisbane for the year 2019

But when it comes to consistent sales growth, one Queensland suburb has taken out the top spot in the country — Mountain Creek on the Sunshine Coast.

The suburb, with a median home price of $635,000, has sold between 90 and 110 homes in each quarter over the past four years.

Its median house price has increased 10.5 per cent in just the past 12 months.

“Most property buyers are seeking growth and in the search for rising prices there’s a tendency to undervalue the consistent markets,” Mr Ryder said.

“These places represent safety for buyers because markets like this are likely to maintain

steady price levels — but these markets also deliver good growth.”

Revealed These are the hottest suburbs in Brisbane in the year 2019

BRISBANE’S HOTTEST GROWTH SUBURBS FOR 2019:

Alderley

Alexandra Hills

Bald Hills

Banksia Beach

Beachmere

Bray Park

Brighton

Burpengary

Carina

Clontarf

Corinda

Eagleby

Forest Lake

Geebung

Gordon Park

Heritage Park

Joyner

Kenmore

Loganholme

Mansfield

Mt Gravatt East

Newmarket

Oxley

Parkinson

Redcliffe

Rothwell

Salisbury

Stafford Heights

Strathpine

Sunnybank Hills

Woody Point

Wynnum West

(Source: The Price Predictor Index)

Originally published as Brisbane’s hottest suburbs revealed

Source: brisbaneinvestor.com.au

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Queensland Attracts UK Property Seekers

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Queensland Attracts UK Property Seekers

Research by realestate.com.au showed that searches for property in Queensland climbed by nearly a third in December compared to the same period in the previous year. This was driven largely by British people who are flocking to one of the most populous states in the country, according to a report by news.com.au.

The study found that property searches originating from the UK increased 31%, with the Sunshine Coast suburbs of Noosa Heads, Buderim and Mooloolaba as popular picks among potential buyers.

New Farm, Redcliffe and North Lakes, meanwhile, topped the list of the most in-demand suburbs in Brisbane.

Nerida Conisbee, Realestate.com.au chief economist, said Queensland, specifically its beachside properties, held the top spot in terms of total search activity among UK property seekers.

“The Hemsworth impact seems to be impacting the view of Byron Bay with this the most searched by UK property seekers in December 2018 — the number tripling from December 2017,” she said.

Universal Buyers Agents Director Darren Piper said that the chaos surrounding Brexit in Britain was enticing overseas buyers to explore the Australian property market.

“House prices in London have fallen for the fifth quarter in a row. It’s natural for investors to look for safe havens in times of uncertainty,” he said.

Australia’s property market has consistently grown over the past decade, with homes in Sydney, Brisbane and Melbourne reaching record prices.

“It’s the perfect time for people to get their foot in the door and it’s a great time as a homeowner to explore your options, maybe make a move or stay the course,” said Piper.

 

Source: brisbaneinvestor.com.au

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Labor Unveils $6.6bn Affordable Housing Plan to Build 250,000 New Homes

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Labor Unveils $6.6bn Affordable Housing Plan

Labor has announced a ten-year plan to build 250,000 new homes across Australia, including 20,000 during its first term in government if it wins the election.

The $6.6 billion investment would see 250,000 new homes for low income and working families, key workers such as nurses, police, carers and teachers and women over 55, the fastest emerging group of Australians at risk of homelessness.

Subsidies of $8,500 per year would be offered to investors building new homes in return for cheaper rent for eligible tenants.

Opposition leader Bill Shorten unveiled the multibillion-dollar plan in his address yesterday at Labor’s three-day national conference in Adelaide.

“Building more affordable housing is infrastructure policy. It is cities policy. It is jobs and productivity policy,” he said.

The plan would see a family paying the national rental average save up to $92 each week.

“When you provide an affordable home for hard-working people, you give them the level playing-field and fair start they need,” he said.

Shorten said Labor would work with the states and territories, local councils, and community housing providers to make sure the rollout of homes were built “where they’re needed most” and would “go to the people who need them most”.

“Not foreign investors, nor international students.”

Affordable Housing Plan

The new homes would be accessible for all ages and for people with a disability, with Shorten describing the new homes as “more energy efficient, meaning lower power bills”, also offering a rental discount of 20 per cent.

Describing Labor as a “party of home ownership, and a party of affordable housing and community housing”, Shorten used the speech as an opportunity to call on industry super to “step up” and invest in affordable housing projects.

And of course, the opposition leader touched upon the hotly debated campaign election issue: negative gearing.

“This is a boost for renters and for the liveability of our growing suburbs… Alongside our plans to make negative gearing fairer, it will drive a boom in construction jobs and apprenticeships,” Shorten said.

A recent report published by the Australian Housing and Urban Research Institute (AHURI) found Australia needed to triple its social housing by 2036, faced with a shortfall of 433,000 social housing dwellings.

Labor Unveils $6.6bn Affordable Housing Plan to Build 250,000 New Homes

Property industry bodies welcome Labor’s announcement

Property Council chief executive Ken Morrison welcomed the incentives, but said they are “no substitute” for the supply of housing which is funded by 2.1 million property investors, “including those who access negative gearing”.

Housing affordability remains a critical issue for many Australians, an issue Morrison says is often overshadowed in the media by Melbourne and Sydney’s cooling markets.

“It makes sense to harness the investment capacity of the private sector to deliver affordable housing,” Morrison said.

“Labor’s incentives for investors to deliver affordable housing will make a contribution to meeting that need while also providing a boost to our construction industry, a key driver of economic activity.”

Planning schemes, land supply, and property taxes, which make up around 25 per cent of the cost of a new house are all part of the housing affordability mix, Morrison added, “there is no single ‘silver bullet’ solution”.

Urban Taskforce chief executive Chris Johnson said many different approaches are needed to tackle the hugely complex housing affordability issue.

“State and territory governments still have a responsibility to ensure that enough appropriately-zoned land is available in inner-ring suburbs to ensure sufficient housing supply,” Johnson said.

“Infrastructure levies must be kept under control to ensure that these do not add to the cost of housing production.”

 

Source: brisbaneinvestor.com.au

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