First National Real Estate’s Post

After my recent trip to #perth I do stand by the Valuer’s thoughts on the expected growth. Largely based on how readily available a $500k home I can be found which leases out for $650+ per week. It’s a highly affordable to purchase for occupying or invest. Only time could tell. #australianrealestate #growth #propertyinvestment #perth #sydney

⚡️Values rose across almost 90% of house and unit markets over the year 1. Over the past year, Australia's housing market has seen a significant increase in values, with the Home Value Index rising by 8.9% nationally. 2. Brisbane, Adelaide, and Perth have experienced the most widespread value uplift year-on-year across both houses and units, with majority of suburbs recording double digit value growth. 3. Rental values have also seen an uptick, with 94.2% of house and unit markets experiencing an annual rent rise, and nearly 40% seeing a rise of 10% or more. 4. Perth has been the best-performing capital for annual rental growth, with all markets analyzed recording increases, while Hobart has seen a decline in rents in both house and unit markets. 5. Despite factors like rate hikes and rising cost of living, the imbalance between housing supply and demand continues to push values higher, with diverse growth trends expected to continue in 2024.

During the March 2024 quarter, median house and rent prices in Perth rose. The median sale price for three-bedroom houses increased by 3.8% to $675,000, while two-bedroom dwellings saw a 7.0% rise to $460,000. Annually, three-bedroom house prices surged by 20.5%, and two-bedroom dwellings by 15.0%. REIWA CEO Cath Hart noted that despite these increases, Perth remains relatively affordable compared to other Australian cities, with WA's median house price nearly two and a half times cheaper than Sydney's. Source: https://bit.ly/4cAFY8a Follow us for more latest news! #betterway2build #firsttimehomebuyersgrant #buildingbrokerinaustralia #buildingbrokerinwa #buildingbrokerperth #perthbuildingbroker #buildingbroker #realestate #propertyinvestment #firsthomebuyer #homeownershipjourney

Australia's housing market is facing an ongoing concern where the decline of new building approvals amidst growing demand for new housing developments has increased pressure for buyers. However, listings for new developments on realestate.com.au are telling a different story. Read below to see which suburbs have the highest property listings this year. https://lnkd.in/gRHtrKRc #HaiMoney #BrokerNews #MarketTrends

What do property valuers expect in the next 12 months? Based on what they’re seeing on the ground day in and day out, they are tipping Sydney, Perth and Adelaide housing markets to post the strongest growth. Do you agree? Thanks to Sameer Chopra at CBRE for sharing this exclusive survey of property valuers. #sydneypropertymarket #perthproperty #houseprices

🏠 Property Price Records Across Australia’s Capitals – What Does It Mean for You? Prices for houses and units have hit record levels in Sydney, Brisbane, Adelaide, and Perth. While growth is slowing due to affordability pressures, this shift could create new opportunities, particularly as the market tilts toward buyers in certain areas. Is now the right time for you to make a move? Let’s discuss how these changes might align with your property goals! https://bit.ly/3YFKDkX 🔑 #PropertyInvestment #HousingMarket #RealEstateTrends #Affordability #HomeBuying #AustraliaPropertyMarket #MarketInsights #InvestmentStrategies 4o

Our Q2 2024 Residential Valuer Insight survey results are in! Find out what our Valuers are saying about the current state of the market across Australia. Key Points: Demand has remained strong: 13x as many Valuers see ‘strong’ to ‘very strong’ demand compared to ‘soft’ or ‘very limited’. Demand to purchase is particularly strong in Perth, Adelaide, and the Gold and Sunshine Coasts. Softer demand is evident in Tasmania, Melbourne Outer Metro, and ACT. Demand by property type: As in the previous quarter, Valuers see demand as being the strongest for houses and recently renovated properties. Softer conditions prevail for unrenovated properties and vacant land. First home buyers/Local investors: The most active buyer types were reported as first home buyers and local investors. Upgraders and down–sizers are also active. Developers are less active. House values next 12 months: 70% of Valuers expect home value growth over the next 12 months. The highest conviction is for Perth, Adelaide and Sydney Metro, with a higher share expecting over 5% increase. Apartment values next 12 months: More Valuers expect apartment value growth over the next 12 months than in Q1 2024, with the highest conviction in Perth, Brisbane Metro, and Adelaide. Nationally, over 4x as many valuers expect price growth vs price fall. Vacant land values next 12 months: 57% of Valuers expect vacant land values to increase with most growth expected in Perth, Adelaide, and Sydney Metro. Future demand: A significantly larger percentage of Valuers expect demand to increase in the next 12 months than decrease. Future supply (listings): There is scope for increased supply (listings) within the next 12 months, with 46% expecting an increase and 8% expecting a decrease (Under Supply). Read the full report here: https://lnkd.in/gzNZ9Xdq https://lnkd.in/gGcbZuFG #CBREVAS #residential #propertymarket #marketinsights Sameer Chopra Andrew Rankin Mat Perry Greg Gerry Patrick McCarthy Izzy O'Hara Craig Godber Tim Frazer Duncan Guthrie Katrina Lukac Albert Pham

According to The Australian Financial Review, higher selling prices – of apartments targeting downsizing home owners – have boosted the construction of new units, putting the country on track to record its highest number of completions this year since 2020, new figures from consultancy Urbis show.

According to The Australian Financial Review, higher selling prices – of apartments targeting downsizing home owners – have boosted the construction of new units, putting the country on track to record its highest number of completions this year since 2020, new figures from consultancy Urbis show.

Brisbane takes over from Canberra as the second-most expensive capital city, Sydney continues slow a slow march higher. CoreLogic’s Home Value Index rose 0.8% in May, the 16th consecutive month of growth and the largest monthly gain since October last year. Perth home values were up 2.0% in May, Adelaide rose 1.8% and Brisbane up 1.4%.  In dollar terms, it’s the equivalent of the median dwelling value rising by more than $12,000 month-to-month in each city. Sydney lifted 0.6%. Tim Lawless said extremely low levels of available supply across the strongest markets provide the best explanation for the difference in growth rates. “The number of properties available for sale in Perth and Adelaide remain more than -40% below the five-year average for this time of the year while Brisbane listings are -34% below average. Sydney values continue to grind higher since the -12.4% drop from peak in January 2022. The market has since posted a 14.1% rise through the cycle to-date.