Urban.com.au’s Post

💡 Market Insights: CoreLogic's Home Value Index showed the median value for Sydney is now $844,000, having started the year at $828,000 Affordability has continued to pinch budgets in Sydney, with unit value growth outstripping houses for the second month in a row. There's been movement in the off-the-plan apartment market in April from Thirdi Group, Landream, Top Spring Australia, and Central Element. Read more about what happened in Sydney's off-the-plan apartment market in April below. CBRE | First Quadrant Properties | Qualitas | Sydney Ma | Crown Group Holdings Pty Limited | Luke Berry | Ron Dadd | Woods Bagot | James Packer Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 16,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

𝗔𝗱𝗲𝗹𝗮𝗶𝗱𝗲'𝘀 𝘀𝗼𝘂𝘁𝗵𝗲𝗿𝗻 𝗵𝗼𝘂𝘀𝗲 𝘃𝗮𝗹𝘂𝗲𝘀 𝘂𝗽 𝗮𝗺𝗶𝗱 𝘁𝗶𝗴𝗵𝘁 𝗺𝗮𝗿𝗸𝗲𝘁 Nationally, home values lifted by 0.4 per cent in December, with prices up 8.1 per cent in the 2023 calendar year as tracked by CoreLogic. The monthly growth was the smallest gain since prices started rising again in February 2023 after a decline in 2022. While poor affordability and more new listings kept price increases in the two biggest capital city markets in check, another month of convincing growth in Adelaide, Perth and Brisbane was recorded. Dwelling values across these cities have been rising by about one per cent a month since May, based on monthly home value index. Real Estate Buyers Agents Association of Australia (REBAA) president Melinda Jennison said the trajectory of Australia’s property market in 2023 was a testament to its resilience and adaptability. “Adelaide and Brisbane led the charge in January, with the most substantial increase in annual house rents, according to CoreLogic. However, by October, the scene had shifted, with Perth and Melbourne taking centre stage in the annual house rent increase rankings,” Jennison said. According to REBAA South Australia state representative Jess Ellam, the state’s strong performance stemmed from a scarcity of available properties and consistently high demand. “As a result, buyers have remained fiercely competitive, driving property prices upward,” Ellam said. Read more: https://lnkd.in/gFJF_kZr #REBAA #MediaMentions Melinda Jennison Jess Ellam

Data collected by MatterFact showed that first home buyers made up over 60 percent of enquiries in 2024 across New South Wales on Urban.com.au, driven by more affordable stock coming to market outside the city, particularly in and around suburbs along the recently opened Metro line. We explore the most popular suburbs in Sydney for first home buyers in 2024, highlighting some of the most sought-after developments in these areas. Thirdi Group | Phoenix Property Investors | TWT Property Group | Coronation Property Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 17,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird 🐦⬛ to keep your finger on the pulse of the apartment and townhouse market.

Prospects for the apartment sector may be edging up, as single-family home affordability plummeted to a record low. Our ValTrends First Look webinar offered a forecast for the major property types leveraging our proprietary data and surveys. Read the highlights here: https://lnkd.in/gNN5HX5S   #CommercialRealEstate #CREInvesting #CommercialRealEstateTrends #RealEstateMarketOutlook #CommercialProperty

📣 Real estate trends alert! 🏘️ Recent data from CoreLogic reveals a fascinating trend in the real estate market: Unit values are now rising at a faster rate than houses in more than half of all suburbs nationwide. The data underscores this trend, with units outperformed house in 633 out of 1168 suburbs nationwide. In some Sydney suburbs, apartment values have risen more than nine times faster than houses over the past three months. Similar patterns are observed in Brisbane, Melbourne, Adelaide, and Perth. The surge in apartment values relative to houses underscores the shifting dynamics in the real estate market and presents an opportunity for savvy investors and homeowners alike. By partnering with PIA, clients can gain access to expert guidance, comprehensive market analysis, and personalized strategies to capitalize on these trends and achieve their residential property goals. Read the detailed report here: https://lnkd.in/gvn4UAm5 #RealEstate #MarketInsights #PropertyInvestment #SydneyRealEstate #PIA

For the first time in a-d.com.au history, Queensland and Victoria were tied for buyer enquiries! We spoke to Richard Lawrence, director of Position Property who is approaching its 25th year in SE Queensland, and Leonard Teplin, director of Melbourne-based Marshall White Projects, to pinpoint which qualities are attracting off-the-plan buyers to each state. Richard highlighted that Queensland's affordability and opportunities, stock diversity, and convenience are piquing buyers' interest. "Queensland's continued affordability relative to other states, in conjunction with a vast range of employment and education opportunities, is drawing interest to the state. Queensland has a growth economy, with significant infrastructure investment occurring recently,” Richard said. "Another driving factor is the diversity of new product on offer. Apartments are designed with owner occupiers in mind, townhomes are positioned as small lot home alternatives, and luxury townhomes offer future-proofed features such as private lifts, EV provision, and solar. "Queensland also has a superb range of lifestyle precincts offering convenience and lifestyle amenity, as well as connectivity across the Gold Coast, Sunshine Coast, and hinterlands." For Victoria, Leonard identified that buyers are often drawn to the combination of affordability and growth potential, booming rental market, and Melbourne's rich culture. "Melbourne's property market, with its unique blend of affordability and growth potential, stands out as an excellent choice for both investors and homebuyers facing tough decisions in Australia's competitive real estate landscape,” said Leonard. "Melbourne's rental market is booming, driven by a rapidly increasing population. With dwelling approvals lagging behind, Melbourne's real estate market presents a compelling investment opportunity. "Beyond its iconic trams and world-renowned coffee culture, Melbourne offers a balanced combination of affordable housing and low unemployment rates. With careful planning and timely action, 2024 could be a year of significant gains in Melbourne real estate." Thank you to Richard and Leonard for contributing your insights!

Recent data from CoreLogic has unveiled an intriguing trend in the real estate landscape: Unit values are now rising at a faster rate than houses in more than half of all suburbs nationwide. As a real estate professional deeply attuned to market dynamics, I believe this trend offers immense opportunities for investors and homeowners alike. By partnering with PIA, staying informed and adaptable, clients can navigate these shifts in the market landscape and capitalize on emerging trends to achieve their real estate goals. #RealEstate #MarketInsights #PropertyInvestment #SydneyRealEstate #PIA

🏡 Naples Housing Market Update: Stability and Growth in 2024! 📈 Exciting news for both buyers and sellers in the Naples real estate market! As of June 2024, the housing market in Naples is showing signs of stability with continued growth. The median sale price in May reached $834,000, marking a significant 14.9% increase compared to last year. This moderation in growth offers buyers more time and negotiation power, while sellers continue to benefit from appreciating home values. Homes are spending a bit more time on the market—64 days on average compared to 36 days last year—giving buyers a more relaxed experience to find their dream home. 🏠✨ The market still leans towards a seller's advantage, with desirable properties in prime locations attracting multiple offers and selling close to or even above the asking price. For those looking to invest, Naples remains a top destination with impressive long-term appreciation rates. 📊 Over the past decade, home values have surged by an average of 11.43% annually, positioning Naples among the top 10% of communities nationwide for real estate appreciation. 📍 Stay updated with the Naples Beach Team for more insights and opportunities in the vibrant Naples real estate market! Contact us today to find your dream home or to discuss your real estate needs! 📞💼

🏙️ Brisbane's Apartment Market Outlook: Chronic Undersupply Expected to Persist According to a recent report by Charter Keck Cramer, Brisbane's apartment market is poised to remain chronically undersupplied for the next 2-3 years. With only 1,100 apartments launched in 2023—76% below the decade average—low completions are forecasted, exacerbating the scarcity. The report highlights that while high-end projects see strong sales, other buyer segments face pricing challenges and uncertainty, dampening demand. Moreover, the analysis reveals an intriguing repricing trend, with established units currently undervalued by +5% to +15%, likely to correct upwards amidst supply-demand imbalances. Looking ahead, the industry anticipates dramatic price increases of +25% to +30% in new off-the-plan apartments over the next 12-18 months, contingent upon factors like interest rate cuts and government incentives. Amidst these dynamics, Brisbane's City Fringe, Inner, and Middle Regions are set to play pivotal roles in apartment supply. However, to stimulate the build-to-sell and build-to-rent sectors, substantial interventions beyond interest rate adjustments are crucial. As the market eyes a potential turnaround by mid-2024, strategic policy measures will be vital in addressing the housing and rental crisis. Stay informed, stay ahead. #BrisbaneRealEstate #HousingMarketInsights Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 15,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡   New project launches and updates 💡   What buyers are searching for on AU’s largest off the plan buyer platform 💡   Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

According to a recent article by realestate.com.au, nearly one in three Australian homebuyers are now choosing to build their own homes rather than purchase existing properties. This trend is evident from the data showing that over 170,000 new homes were completed last year, making up 31% of total transactions. This shift is driven by various factors including lifestyle changes, financial incentives, and the desire for eco-friendly living options. Additionally, the government's push to address the housing shortage by setting a national target of 1.2 million new homes by 2029 highlights the importance of new constructions. Why Consider New Builds? 1. Customisation: Tailor your home to fit your needs, from layout to finishes. 2. Modern Living: Enjoy the latest energy-efficient technology and designs. 3. Affordability: Often more budget-friendly compared to existing homes, especially in new suburbs. 4. Convenience: House and land packages, off-the-plan apartments, and townhouse developments offer diverse options. Let's discuss how this could be a great option for your new home or a successful addition to your property portfolio. Contact our team for more insights and personalised advice. To read the full article visit: https://lnkd.in/gY2aG7ns