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<p>Many NSW towns are still reeling from the emotional, physical and financial impact of the summer of bushfire disasters.</p>
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<p>And historically, these local economies in bushfire affected towns undergo a resurgence within just a year of the disaster, with each community typically in a better economic position just a few years down the track.</p>
<p>But the impact of the coronavirus is going to be a setback in this recovery, just as the campaigns to encourage visitors was getting underway.</p>
<p>Recent auction offerings in NSW bushfire regions have not fared well, as it is just too early for the positives of investment to outweigh the obvious nearby signs of devastation.</p>
<p>Median house prices flattened in bushfire locations in the year of the bushfires, but by the second-year medians were above those in the year of the bushfires, according to the national estate agency, PRD Real Estate’s latest research report, Australia Bushfires: The Real Estate Perspective.</p>
<p>It gives a glimmer of hope to the devastating impact many Australian communities have experienced.</p>
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<p>PRD analysed the long-term effects of four previous catastrophic bushfires in Australia and found without fail that each community was in a better economic position just a few years down the track.</p>
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<p>“While it may be hard now for anyone to believe their community will survive, let alone thrive again, our research shows that is exactly the case," the PRD managing director Todd Hadley noted.</p>
<p>"Our analysis should give confidence to those wishing to remain in their local area but are unsure about its future economic viability.”</p>
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<p>The research examined the economic effects of four previous Australian bushfire disasters: the Canberra bushfires in 2003, Black Saturday bushfires in Victoria in 2009, Perth Hills bushfires in 2011 and Pinery bushfires in South Australia in 2015.</p>
<p>The PRD chief economist, Dr Mardiasmo acknowledged there has been damage that cannot be quantified on a personal level.</p>
<p>"This emotional anguish cannot be discounted, but there are some real positive economic benefits when communities choose to unite and persist in the process of rebuilding.”</p>
<p>“Each of the four previous bushfire affected areas analysed experienced an increase in Gross Regional Product (GRP) growth in the year immediately following the bushfires."</p>
<p>The Perth Hills region experienced an increase in GRP growth from +0.2 per cent in the year of the bushfire, up to +5.8 per cent in the year following, Dr Mardiasmo advised. </p>
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<p>It found economies started to turn around once compensation and insurance payments filtered into the communities.</p>
<p>This week the NSW state government announced a grant for businesses who have been indirectly affected by the bushfires and have lost business as a result. </p>
<p>There are 17 NSW LGAs eligible for this grant including the Blue Mountains, Eurobodalla, Hawkesbury, Lithgow, Port Macquarie, Shoalhaven, Wingecarribee and Wollondilly.</p>
<p>Eligible businesses must have experienced a 40 per cent drop in revenue over a three-month period, compared to the previous year, as a result of the recent bushfires. </p>
<p>Deputy Premier and Minister responsible for Disaster Recovery John Barilaro said about 20,000 NSW small businesses will be eligible.</p>
<p>As the towns were rebuilt, demand for construction often bought more people to the towns, boosting demand for accommodation, food and services. </p>
<p>Once charities passed on donated funds, local economies also started to improve with that money being spent locally helping many business owners get back on their feet.</p>
<p>PRD stressed it was essential these funds are quickly passed on to residents so that the economic cycle is kick started in these towns again.</p>
<p><em>This article was first published in the</em> Saturday Daily Telegraph. </p>
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jchancellor-FAypfDUnLy

Bushfire affected towns and suburbs could be set for resurgence: PRD Research

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<p>Melbourne's housing affordability and liveability improves on slightly in the 1st half of 2020 compared to the 2nd half of 2019, reveals PRD's <em>Affordable and Liveable Property Guide Melbourne 1st Half 2020</em>. </p>
<p>Housing affordability in VIC declined in the 12 months to Q1 2020, with the proportion of income to meet home loan repayments increasing by 8.4 per cent. On the other hand, the level of first home buyer loan activity increased by 24.4 per cent in the same period. A substantial increase in demand is potentially due to government first home buyer incentives.</p>
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<p><span>Affordable and liveable house suburbs (those with a maximum property sale price of the VIC average home loan plus a 90 per cent premium), as per the </span><span>2nd Half 2019</span><span>μ </span><span>report, exist. Example suburbs include Preston, Greensborough, Greenvale, Oak Park, and Forest Hill. In the 1st half of 2020, 103 suburbs fell within this price range, a slight improvement compared to the 100 suburbs previously found in the </span><span>2nd Half 2019 </span><span>report. Further, these suburbs still meet the set liveability criteria.</span></p>
<p>The most affordable and liveable house suburbs include: </p>
<table border="0"><tbody>
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<td> </td>
<td>Approx. radius from the Melbourne CBD</td>
<td>Median House Price</td>
<td>1 Bed Median Price </td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Greensborough</td>
<td>20km</td>
<td>$803,000</td>
<td>$602,625</td>
<td>$760,000</td>
<td>$876,250</td>
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<td>Altona</td>
<td>19.5km</td>
<td>$885,000</td>
<td>$763,250</td>
<td>$842,500</td>
<td>$1,030,000</td>
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<td>Oakleigh South</td>
<td>7.7km</td>
<td>$923,000</td>
<td>$880,000</td>
<td>$890,500</td>
<td>$1,028,000</td>
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<p>Affordable and liveable unit suburbs include: </p>
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<td> </td>
<td>Approx. radius from the Melbourne CBD</td>
<td>Median House Price</td>
<td>1 Bed Median Price </td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Kingsville</td>
<td>9.3km</td>
<td>$447,000</td>
<td>$285,000</td>
<td>$415,000</td>
<td>$747,500</td>
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<td>Moonee Ponds</td>
<td>7km</td>
<td>$470,000</td>
<td>$400,000</td>
<td>$524,000</td>
<td>$761,000</td>
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<td>Brunswick East</td>
<td>6km</td>
<td>$525,000</td>
<td>$386,000</td>
<td>$560,000</td>
<td>$821,500</td>
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<p>From 2018 to 2019/20 the number of houses sold in Melbourne Metro increased by 19.1 per cent. However, during this time frame median house prices declined by -11.1 per cent to $1,091,000. Similarly, demand for units increased by 12.9 per cent and median unit price softened by -1.8 per cent to $600,000. </p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/10_Housing.jpg" target="_blank">Click here</a> to enlarge:</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/10_Housing.jpg" alt="" width="524" height="287"></p>
<p>Melbourne Metro sales and median price growth. Source: PRD. </p>
<p>Over Q1 2020, the Melbourne Metro rental market recorded a median rental price of $410 per week for houses and $460 per week for units, representing quarterly median price growth of 2.5 per cent for houses and 4.5 per cent for units.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/10_Rental.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/10_Rental.jpg" alt="" width="479" height="315"></p>
<p>Melbourne rental market analysis. Source: PRD. </p>
<p>There is still a healthy demand for properties in Melbourne Metro, while affordability has increased. This puts Melbourne Metro in a unique position, as first home buyers can benefit from lower prices yet sellers can be confident of market demand. Melbourne Metro is a city conducive for investment as vacancy rates were recorded at a healthy 2.8 per cent in April 2020, indicative of rental properties being occupied relatively quickly. </p>
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<p><span>The percentage premium needed to be added to the VIC average home loan in this report is 79 per cent, lower than the 90 per cent added in </span><span>2nd Half 2019</span><span> </span><span>report. Further, it is lower than the 111 per cent premium that is needed to reach the Melbourne Metro median house price, whilst still being able to satisfy all other methodology criteria set. A similar pattern can be seen in the unit market, which suggests that the cost of liveability has declined in Melbourne Metro. Now is an ideal opportunity for those looking to enter the market.</span></p>
<p><span>The top three lowest priced suburbs in Melbourne are Dallas whose 2019/20 median price is $455,000, Meadow Heights ($480,000) and Albanvale ($514,500). Dallas has a project development value of $3 million and 2019/20 median rent of $350 with a 3.3 per cent rental yield. Meadow Heights has a project development value of $3.2 million and median rent of $370 with a rental yield of 4.2 per cent, while Albanvale has the lowest project development value of $1.8 million, and a median rent of $350 with a 3.1 per cent rental yield. </span></p>
<p><span>In contrast, the top three highest priced suburbs are Toorak (whose median price is $3,912,500), East Melbourne ($3,513,500) and Canterbury ($2.8 million). Toorak has the highest project development value of $35.2 million while East Melbourne has the highest median rent and rental yield of $910 and 4.1 per cent. </span></p>
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<p><span>In the 1st half of 2020 a well-diversified project development expenditure worth approximately $17.8 billion in Greater Melbourne is set to commence, which will have a positive snowball effect on local economies and the real estate market in Melbourne Metro. </span></p>
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<p><span>A key mixed use project is the Fisherman's Bend Urban Renewal Project ($1.0B). This project will construct residential, commercial and retail precincts. The area is to be transformed into 4 new CBD style mini-suburbs and an employment precinct, with housing for up to 80,000 people. A key commercial project is University of Melbourne Student Precinct ($229.0M), and a key infrastructure project is Sunbury to Cranbourne Pakenham Corridor Rail Project ($571.5M).</span></p>
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j.ballantyne1990-6AQqhLzZaK

Melbourne shows minor improvement in housing affordability: PRD

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<p>The Australian property market has managed to hold its value, according to PRD Real Estate’s recent market research report.</p>
<p>Despite the ill-effects of the COVID-19 shutdown, PRD reveals on average, median house prices grew in capital city, metropolitan and regional markets in the 12 months to the first half of 2020.</p>
<p>Capital city markets grew by 1.0 per cent on average, led by Melbourne, Sydney and Hobart. <span style="font-size: 12.16px;">Regional markets performed best; up by 3.4 per cent.</span></p>
<p>PRD Real Estate Chief Economist, Diaswati Mardiasmo believes the market has shown <span style="font-size: 12.16px;">great resilience.</span></p>
<p>“Whilst COVID-19 hit us swiftly this year and threw Australian economy and property markets into turmoil, things settled down within the property market quicker than initially thought”, she commented.</p>
<p>Australia has created a market balance thanks to the unprecedented release of multiple fiscal and monetary policy assistance, the report reveals.</p>
<p>Consumer confidence has returned to pre-COVID-19 levels with confidence up by</p>
<p>23.9 per cent in June 2020 after a plummet in April.</p>
<p>“Uncertainty about the health situation and the future strength of the economy is making <span style="font-size: 12.16px;">many households and businesses cautious. However, despite the curveballs the property </span><span style="font-size: 12.16px;">market has been remarkably resilient, and demand has been stronger than many people </span><span style="font-size: 12.16px;">anticipated”, Dr Mardiasmo said.</span></p>
<p>Notably, new home sales increased by 77.6 per cent at the end of this financial year, from a record low result in May.</p>
<p>The HomeBuilder scheme is balancing the downturn in residential construction due to COVID-19 with upgraders accounting for 42 per cent of loans in June.</p>
<p>“The key going forward will be increasing levels of employment, public and private <span style="font-size: 12.16px;">investment and consumer confidence based on the ongoing impact of COVID-19.” Dr Mardiasmo said.</span></p>
<p>“There is no doubt we are seeing signs of gradual improvement”.</p>
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The Australian property market sees gradual improvement: PRD 

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<p>From 2018 and 2019/20 the number of houses sold in Brisbane Metro grew by 20.9 per cent, according to PRD's <em>Affordable and Liveable Property Guide Brisbane 1st Half 2020.</em></p>
<p>Affordable and liveable house suburbs are those with a maximum property sale price of the Queensland average home loan plus 75 per cent premium. In the 1st half of 2020, 113 suburbs exist within this price range which is an improvement compared with the previous 91 suburbs identified in the <em>2nd Half 2019</em> report.</p>
<p>The most affordable and liveable house suburbs include: </p>
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<td>Approx. radius from the Brisbane CBD</td>
<td>Median House Price</td>
<td>2 Bed Median Price </td>
<td>3 Bed Median Price </td>
<td>4+ Bed Median Price </td>
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<td>Griffin</td>
<td>19.2km</td>
<td>$465,000</td>
<td>N/A</td>
<td>$431,000</td>
<td>$471,000</td>
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<td>Everton Park </td>
<td>10.8km</td>
<td>$614,000</td>
<td>$540,000</td>
<td>$595,000</td>
<td>705,000</td>
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<td>Virginia</td>
<td>14km</td>
<td>$625,000</td>
<td>$511,500</td>
<td>$581,250</td>
<td>$760,000</td>
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<p>The most affordable and liveable unit suburbs include: </p>
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<td> </td>
<td>Approx. radius from the Brisbane CBD</td>
<td>Median House Price</td>
<td>2 Bed Median Price </td>
<td>3+ Bed Median Price </td>
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<td>Geebung</td>
<td>12.4km</td>
<td>$392,000</td>
<td>$243,500</td>
<td>$392,500</td>
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<td>Arana Hills</td>
<td>12km</td>
<td>$395,000</td>
<td>$341,000</td>
<td>$402,000</td>
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<td>Daisy Hill</td>
<td>20km</td>
<td>$411,000</td>
<td>$224,950</td>
<td>$435,000</td>
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</tbody></table>
<p>Though Queensland's home loan affordability has slightly declined, with the proportion of income to meet home loan repayments increasing by 2.7 per cent in the 12 months to Q1 2020, first home buyer loan activity increased by 20.8 per cent in the same period, indicative of an effective government first home buyer incentive programme.</p>
<p>Brisbane Metro's number of houses sold has grown by 20.9 per cent. In correlation, during this time median house prices increased by 1.5 per cent, to $690,000. On the other hand, the number of units sold increased by 13.9 per cent, however the median unit price softened by -1.5 per cent to $450,000. These figures indicate unique opportunities in Brisbane Metro.</p>
<p>House owners can be more confident of their property value, as real capital growth has transpired, whereas unit buyers can capitalise on a more affordable market.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/8_House%20sales.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/8_House%20sales.jpg" alt="" width="410" height="225"></p>
<p>Brisbane Metro sales and median price growth. Source: PRD.</p>
<p>Brisbane has conducive investment conditions, with attractive house (3.7 per cent) and unit (5.3 per cent) rental yields. A declining vacancy rate, currently at its lowest of 2.8 per cent in April 2020 suggests a healthier rental demand. A total of $12.2 billion worth of project developments is in the pipeline in the 1st half of 2020, which will have positive a spill-over impact on the property market.</p>
<p><a href="https://www.propertyobserver.com.au/images/2020/6/26/9_Brisbane%20analysis.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/26/9_Brisbane%20analysis.jpg" alt="" width="402" height="281"></p>
<p>Brisbane rental market analysis. Source: PRD. </p>
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<p>Over Q1 2020, the Brisbane Metro rental market recorded a median rental price of $390 per week for houses and $405 per week for units, representing quarterly median price growth of 0.0 per cent for houses and 4.1 per cent for units.</p>
<p>The top three lowest priced suburbs are Ellen Grove whose 2019/20 median price is $277,500, Woodridge ($282,500) and Goodna ($286,000). Ellen Grove has a project development value of $1.1 million, and 2019/20 median rent of $330 with a 4.2 per cent rental yield. Woodridge has a $640,000 value in project development, and 2019/20 median rent of $310 with a 5.5 per cent rental yield, while Goodna has a project development value over half of that ($300,000). Its 2019/20 median rent of $330 is on par with Ellen Grove, but records a higher rental yield of 4.6 per cent. </p>
<p>In contrast the top three highest priced suburbs are Teneriffe (whose median price 2019/20 is $1.85 million) with a project development value of $22.2 million, New Farm ($1.8 million) with $11 million and Hamilton ($1.525 million) with $478.1 million.</p>
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<p><span>Greater Brisbane is set to see approx. $12.1 billion worth of new projects commencing in the 1st half of 2020.</span></p>
<p>A key focus on mixed-use projects is ideal for Greater Brisbane, as it will create both new housing design options as well as commercial opportunities. This will stimulate economic growth and create local jobs, whilst also addressing an increase in housing demand in certain suburbs.</p>
<p>A key project is the Waterlea Master Plan Development at Walloon ($350.0M). This project is set to construct 1,500 homes in 8 neighbourhoods including recreational activity spaces and cafés. A key residential project is Carver’s Reach ($23.0M, 472 lots).</p>
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Brisbane Metro house sales rise over 20 per cent: PRD

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<p>To celebrate International Childhood Cancer Awareness Month, the Children’s Cancer Institute, PRDnationwide Newcastle &amp; Lake Macquarie, McDonald Jones Homes and McCloy Group have joined forces to undertake an extraordinary challenge; building a house in 21 days!</p>
<p>Work began on 29 August, 2016 at Billy’s Lookout, Teralba, Lake Macquarie NSW to build the 4 bedroom, 2 bathroom luxurious Portsea One home by McDonald Jones Homes.</p>
<p>The architecturally designed home has been built on 600 sq m of land donated by McCloy Group using materials and labour gifted by many generous partners, including Austral Bricks.</p>
<p>Scott Cam of The Block revealed the completed home, fully furnished by Freedom, with all kitchen and laundry appliances provided by Electrolux and home entertainment by Panasonic.</p>
<p>It will be auctioned October 23, 2016 the home through PRDnationwide Newcastle and Lake Macquarie by leading auctioneer, Damien Cooley.</p>
<p>100 percent of proceeds from the sale of the home will go to the Children’s Cancer Institute to fund medical research. </p>
<p>For more information, <a href="https://buildforacure.org.au" target="_blank">click here</a>.</p>
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Build for a cancer cure home up for auction at Teralba

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<p>The Sydney property market experienced "more sustainable" median price growth throughout 2016, according to the latest report from PRDnationwide.</p>
<p>Since 2015, the city’s median house price increased by 4.3%, indicating continuing steady growth, said the company’s <em>Sydney Hotspots: Second Half of 2016 </em>report.</p>
<p>“Sydney has defied 2016 forecasts by recording continuing growth in house prices, however at more sustainable levels, with the middle to outer ring providing more affordable living options,” said Tony Brasier, PRDnationwide managing director.</p>
<p><em>Click pictures to open in new window:</em></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-1.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-1.jpg" alt=""></a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-2.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-2.jpg" alt=""></a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-3.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-3.jpg" alt=""></a></p>
<p>The report focused on suburbs within a 20km radius of the CBD, taking into consideration the following factors:</p>
<ul>
<li>Sales indicators - median price growth over 2016 and previous years, number of sales, average days on the market, and vendor discounting.</li>
<li>Rental indicators - median rental price, rental yield, and vacancy rates</li>
<li>Affordability - the average New South Wales home loan, of $443,893 as at June 2016, which is a change of 1.9% over the previous quarter.</li>
<li>Project developments commencing in 2016 - commercial, mixed use, infrastructure, industrial and residential. This indicates potential increases in economic and commercial activity, interconnectivity to the key transport routes, the CBD and other major urban business hubs</li>
</ul>
<p>The Sydney City Council property market has experienced median price growth for houses throughout 2016. Since 2015, the city’s median house price increased by 4.3%, indicating continuing steady growth.</p>
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jonathanchancellor-7SQnKwU6yx

Woolooware rivals Clovelly among Sydney's top performers: PRDnationwide

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<p>The Sydney unit market was now in a stabilisation phase following substantial additions to supply of new units, according to the latest report from PRDnationwide.</p>
<p>The <em>Sydney Hotspots: Second Half of 2016</em> report focused on suburbs within a 20km radius of the CBD, taking into consideration the following factors:</p>
<ul>
<li>Sales indicators - median price growth over 2016 and previous years, number of sales, average days on the market, and vendor discounting.</li>
<li>Rental indicators - median rental price, rental yield, and vacancy rates</li>
<li>Affordability - the average New South Wales home loan, of $443,893* as at June 2016, which is a change of 1.9% over the previous quarter.</li>
<li>Project developments commencing in 2016 - commercial, mixed use, infrastructure, industrial and residential. This indicates potential increases in economic and commercial activity, interconnectivity to the key transport routes, the CBD and other major urban business hubs</li>
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<p><em>Click to enlarge:</em></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-1.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-1.jpg" alt=""></a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-2.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-2.jpg" alt=""></a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/01/31/syd-3.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/31/syd-3.jpg" alt=""></a></p>
<p><span style="font-size: 12.16px;"> </span></p>
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Manly apartments rank among Sydney's top performing unit hotspots: PRDnationwide

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<p>The Hobart property market continues to gain moment as buyers are noticing the potential of the Tasmanian property market holds, according to the latest report from PRDnationwide.</p>
<p>According to its report, <em>Hobart Property Hotspots Second Half of 2016,</em><em> </em>as other cities around the nation are setting their sights on the peak of the market.</p>
<p>Hobart has kick-started itself from the doldrums, and is currently touted as the emerging property city in Australia.</p>
<p>The Hobart median house price has increased by 2.6% over only one single quarter to $395,000 in Q2 2016.</p>
<p>This growth is set to continue as not only central Hobart is garnering attention, but also the suburbs in greater Hobart are increasing in popularity due to their picturesque setting and proximity to the CBD.</p>
<p>“Hobart has strengthened its property credentials during 2016 by delivering stable growth parameters across the board,” said Tony Brasier PRDnationwide managing director.</p>
<p>“It’s set to build on this further into 2017 as Australia’s ‘quiet achiever’ city with potential. After flying under the radar for a while, it may now be Hobart‘s time to shine.”</p>
<p><em>Click pictures to open in new window:</em></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/02/hob-1.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/hob-1.jpg" alt=""></a></p>
<p> </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/02/hob-2.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/hob-2.jpg" alt=""></a></p>
<p> </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/hob-3.jpg" alt=""></p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-west+hobart-123778998" target="_blank">26 Hill Street</a>, West Hobart (above) has been sold for $572,500.</p>
<p>Similarly a five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-west+hobart-123735578" target="_blank">16 Summerhill Road</a>, West Hobart (below) was sold for $565,000.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/16%20Summerhill%20Road.jpg" alt=""></p>
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Hobart's property market gaining momentum: PRDnationwide

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<p>The Kyneton property market has returned steady price growth for both house and vacant land leading up to the final quarter of 2016, whilst still presenting itself as a more affordable market, PRDnationwide has found.</p>
<p>The median house price is currently held at $495,000 and $235,000 for vacant land, representing an annual price change of 5.4 percent and 15.2 percent respectively.</p>
<p>Over the same period of time, the median house price in the surrounding Shire of Macedon Ranges grew by 12.2 percent to $575,000 and vacant land median price grew by 14.3 percent to $240,000.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/19/Kyneton.png" target="_blank">CLICK TO EXPAND</a></p>
<p><img src="https://www.urban.com.au/images/2017/04/19/Kyneton.png" width="700" height="425"></p>
<p>The average amount of days to sell in Kyneton has improved since the beginning of 2016 and at the end of the final quarter sits at 70 days for houses. The average time spent on the market for rental properties are currently 40 days for houses and 39 day for units. <br><br>Positively, investors in the Kyneton market are benefiting from higher house and rental returns than properties in Melbourne, with returns of 3.8 percent and 5.9 percent, respectively. Median rents in Kyneton have remained stable for house and units over the past twelve months, currently at $368 and $290 per week respectively. <br><br>The vacancy rate is recorded at a low 1.6 percent which continues to demonstrate the high demand for rental property in the area, especially when compared to Melbourne (2.0 percent). The Kyneton Structure Plan introduced in June 2013 estimated that the Kyneton township will grow by an additional 2,900 residents by 2036.</p>
<p>A two bedroom unit (below) at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-kyneton-124062590" target="_blank">110 Piper Street </a>sold for $439,000 in May 2017.</p>
<p><img src="https://www.urban.com.au/images/2017/05/12/rsz_piper.png" alt=""></p>
<p>Kyneton can expect approximately $16.7M worth of new development projects commencing in late 2015, through to the end of 2017.</p>
<p>Of these new developments, residential projects accounted for the majority, with an estimated value of $15.5M. </p>
<p>This is followed by industrial projects valued at $1,000,000 and infrastructure which accounted for $200,000 worth of development. A main residential project in 2017 is the Simpson Street Residential Development. The project is estimated at $14.5M and plans to construct 69 dwellings. The project is due to commence in November, with anticipated completion in 2019.</p>
<p><span id="docs-internal-guid-caceba18-fabf-4661-c62b-38a8d7922944">A four bedroom home (below) at <a href="https://www.realestate.com.au/sold/property-house-vic-kyneton-125152382" target="_blank">121 Lauriston Reservoir Road</a> sold for $1.065 million in May 2017. </span></p>
<p><img src="https://www.urban.com.au/images/2017/05/12/rsz_kynetonhouse.png" width="700" height="425"></p>
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Kyneton property market returns steady growth: PRDnationwide

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<p>A report by PRDnationwide has delivered a positive verdict on the impact the 2018 Commonwealth Games will have upon the Gold Coast Property Market, with an estimated $2 billion to be injected into the local economy.</p>
<p>To be hosted in sporting venues across Brisbane, Townsville and Cairns, the report found the Commonwealth Games will continue the trend of median price growth established by its predecessors, including the 2000 Sydney Olympic Games and 2006 Melbourne Commonwealth Games.</p>
<p>Indeed, the growing Gold Coast property market has already experienced positive spill-over effects from the announcement of the event. Between 2015 and 2016, both houses and units in the Gold Coast region have recorded an increase in their median prices of 6.3% and 5.3% respectively.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/19/Commonwealth.png" target="_blank">Click to enlarge</a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/19/Commonwealth.png" target="_blank"><img src="https://www.urban.com.au/images/2017/04/19/Commonwealth.png" width="700" height="425"></a></p>
<p>Average vendor discounting has also tightened to -2.6% for houses and -3.5% for units. This indicates an increasingly competitive market, whereby buyers are willing to pay closer to the first list asking price to secure their ideal property.</p>
<p>Commenting on the findings, PRDnationwide QLD franchise director Greg Braithwaite, said that the Sydney Olympic Games had demonstrated its far-reaching benefits for property markets in cities around Australia.</p>
<p>“The Sydney Olympic Games positively influenced the Brisbane property market, due to an event being held in Brisbane,” he said. “It is expected that the Games will also have a positive impact on the property market of other cities.”</p>
<p>The Queensland Government and Gold Coast City Council has delivered 30,000 new jobs during the construction phase of the games, for projects worth $320 million, with a further $160million allocated to major road upgrades.</p>
<p>Newly constructed sports centres in both Carrara and Coomera will open their doors by the year’s end, as will a new velodrome in Chandler and a $14.5 million hockey facility in Labrador. Meanwhile, large investment in the upgrading Gold Coast rail is designed to reduce crowding, increase passenger numbers and provide better connection to other areas of Gold Coast and Brisbane.</p>
<p>Not only has median prices risen over the past two years, but the rental market is also being impacted by a surge in demand. Brisbane suburb Ashmore is reporting the lowest vacancy rate the area has historically seen, with similar market conditions in Robina.</p>
<p>The report forecasted the Commonwealth Games will boost the Gold Coast’s tourism industry, which will follow on directly to the property sector as a result of the games and 24 months after.</p>
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