Jack Durkin’s Post

High-End Real Estate Growth - Expected to Continue Australia’s prestige market is poised for more growth, according to CBRE’s Prestige Residential Valuer Insights for the September 2024 quarter. The report, which surveyed CBRE’s valuers, showed that 54% of respondents expect luxury house values to increase in the next year, with 17% of them predicting over 5% growth. The highest expectations for a boost in the prestige house market are in Western Australia where around 50% of respondents predict between 5-10% growth. In South Australia, fewer respondents predicted growth (30%), but those that did foresee larger increases of more than 10%. Respondents then ranked New South Wales third, Victoria fourth and Queensland likely to see the least amount of growth, each with between 5-10% predicted. One valuer said, “Prestige properties are taking longer to sell, however are still achieving and surpassing expectations in regard to price.” #prestigeproperty #propertymarket #propertyinvesting If you’re looking to invest in property in Australia, MoneyQuest Rose Bay can help you secure finance. Get in touch by emailing [email protected] or calling 0457 575 423.

Economic insights: September/October 2024 In the real estate industry, it is crucial to stay on top of market trends, of course, but also those of the global economy, which affects not only real estate, but most aspects of daily life. Keep up to date with Luxury Portfolio International here, where Dr. Marci Rossell, chief economist for Leading Real Estate Companies of the World, shares her top five insights from the past month. https://lnkd.in/gPP76q2V

Property valuers are becoming more cautious about demand in the coming 12 months due to interest rate uncertainty according to a CBRE survey. However, most are still expecting house prices to rise by at least 5 pc in the coming year amid scarce supply. Valuers are particularly upbeat about apartments as demand shifts to this sector. Sameer Chopra #propertyinvestment #sydneypropertymarket #perthproperty #housingmarket

🌿 September 2024 Real Estate Market Update⁠ ⁠ The latest figures from the The Real Estate Institute of New Zealand (REINZ) for September 2024 show additional signs of stability as spring began, with increasing confidence among both vendors and buyers.⁠ ⁠ REINZ Chief Executive Jen Baird noted, "While the market remains subdued, there is a noticeable rise in positivity and confidence that things will continue to improve as we approach the end of the year." Despite ongoing challenges like the cost of living, many believe the recent downward trend in interest rates will lead to a gradual market recovery as we move into 2025.⁠ ⁠ “After the Reserve Bank reduced the OCR rate by 50 basis points to 4.75%, the market is expected to see more activity from those who are ready to buy, reinforcing the optimism in the market, and this will likely be reflected in the coming months’ property reports,” adds Baird.⁠ ⁠ Locally, we've seen some increase in sales across the suburbs, with median sale times varying from 74 days in Grey Lynn to just 29 days in Point Chevalier.⁠ ⁠ As we progress through spring, it will be interesting to watch how these trends evolve, particularly with the potential boost from lower interest rates. Get in touch if you'd like to know more.⁠ #RealEstate #MarketUpdate #REINZ #PropertyMarket #AucklandRealEstate

The Real Estate Institute of Australia's latest report reveals that house prices rose by a solid 7.6% over the past year, averaging $1,026,903! Sydney led with the highest median house price at $1,627,625, which is 58.5% above the national median. Similarly, median house prices in Melbourne, Brisbane, Adelaide, Perth, and Darwin also saw increases during this period.  What factors do you think are driving the increase in house prices across major Australian cities?

#SYDNEYREALESTATE | Use the interactive below to see how fast prices have doubled in your suburb!

The residential market in London valued at £5 million and above continues to show resilience post-pandemic, although it has slowed down from previous peak levels. In the first quarter of 2024, a total of 89 properties in this price range were sold, reaching a value of £918 million. This reflects a 44% increase in sales compared to Q1 2019, despite a 20% decrease from Q1 2023. Looking at the annual figures, there were 504 sales of properties worth £5 million and above in the year leading up to Q1 2024, with 352 falling within the £5-10 million range and 152 above £10 million. The increase in new buyer registrations in central London for April, up by 44% compared to pre-pandemic levels, indicates a positive trend in this segment of the market as we head into the busier period. Learn more:

The first quarter of the year brought some long-awaited signs of recovery in London’s luxury housing market, offering the first positive quarterly price growth since September 2022, - - according to a report from Savills on Wednesday. #LuxuryRealEstate #London #HousingMarket #PrimeMarket #Savills #Investor #CentralLondon

In North London’s competitive property market, finding the right price for your home can be challenging. With rising prices and limited supply, you might assume selling would be straightforward. However, despite an impressive 11.2% year-on-year price increase in May, 1 in 20 sellers still reduced their asking prices by 9%. So, how can you ensure your home is priced to sell rather than sit idle on property portals? Let's explore the key factors in determining a competitive asking price: https://buff.ly/3XNVPug #propertyvaluationguide #propertysellingguide #propertysellingtips

Across the UK, Savills predicted house prices will fall by another 3 per cent before rising by 20 per cent between 2025 and 2028. With total growth over the five-year period estimated to be 17.9 per cent, the average UK home would be worth £300,108 – £45,521 more than their 2023 value