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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>
<p> </p>
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The Australian property market sees gradual improvement: PRD 

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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>
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<tr>
<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>
</tr>
</tbody></table>
<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>
</tr>
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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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Melbourne shows minor improvement in housing affordability: 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>
</tr>
</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>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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Bushfire affected towns and suburbs could be set for resurgence: PRD Research

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<p>After 8 years as Chairman and Managing Director of PRD real estate, Tony Brasier has passed the role of Managing Director onto Todd Hadley.</p>
<p>“I am thrilled to take over the leadership of PRD and continue to execute the strategic direction we have defined. It is a privilege to work with such a dedicated and passionate team,” said Mr Hadley.</p>
<p>"There are great opportunities for us to continually add value to the PRD franchisee’s and their agents across all market segments and we are well placed to take full advantage.”<span style="font-size: 12.16px;"> </span></p>
<p>Tony will retain his position as PRD Chairman, to provide strategy and growth support to the company and its wider franchise network.</p>
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Tony Brasier passes PRD Managing Director role to Todd Hadley

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<p>First home buyers are creeping their way back in to the market, according to PRD Nationwide.</p>
<p>There were 26,250 FHB loans approved in the June quarter of 2019, still -7.6 per cent down over the last 12 months, however a much improved figure than the -11.6 per cent decline between the March quarter 2018 and the March quarter 2019.</p>
<p>PRD Nationwide's key market indicators Q4 2019 showed 8,500 of the 26,250 first home buyer loans came from Victoria.</p>
<p>New South Wales saw the second most FHB loans signed off (6,822) and Queensland in third with 4,755.</p>
<p>The first home buyer approval rate increase was combined with an improvement in home loan affordability, particularly in NSW and Victoria.</p>
<p>It was Western Australia however which saw the highest improvement in housing affordability (6.7 per cent) over the last 12 months to the June quarter of 2019.</p>
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First home buyer loans slowly increasing: PRD

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<p>Buyers are flocking to the South East Queensland (SEQ) premium property market due to affordability, when compared to Sydney and Melbourne median prices, according to the latest PRD SEQ premium property report. </p>
<p>The report suggests the SEQ premium property market shrunk in 2018 and 2019, partly due to a softening in the Sydney and Melbourne property prices, but also as investor confidence declined.</p>
<p>However, SEQ population is projected to increase approximately 49.4% by 2041.</p>
<p>The major increase of property price in Sydney and Melbourne in 2014-2017 shifted buyers toward the SEQ market, capitalising on comparatively lower prices.</p>
<p>During this time, sales transactions in the premium market increased. As the Sydney and Melbourne markets softened, transaction volume in the SEQ premium market also decreased.</p>
<p>The report also analysed interstate migration and vacancy rate trends, to determine future demand and attractiveness of the SEQ premium property market. </p>
<p>"By 2026, it is expected we will see large population increases for Brisbane, Gold Coast and Sunshine Coast by 8.3%, 24.6% and 23.4% respectively. Further, by 2041, it is expected that Brisbane will grow by 25.9%, Gold Coast by 62.5%, and Sunshine Coast by 61.9%.</p>
<p><em><a href="https://www.propertyobserver.com.au/images/2019/9/25/PRD%201.png" target="_blank">Click here</a> to enlarge: </em></p>
<p><img src="https://www.urban.com.au/images/2019/9/25/PRD%201.png" alt=""></p>
<p><em>Source: PRD SEQ premium property report</em></p>
<p>"SEQ has experienced healthy decreasing vacancy rates, with Brisbane (2.5%), Gold Coast (2.7%) and Sunshine Coast (1.7%) all recording below the Real Estate Institute of Australia’s healthy rental demand benchmark of 3.0%. An oversupply of rental properties in Sydney Metro led to an increase in vacancy rates of 3.5% and 2.0% for Melbourne Metro," PRD Chief Economist, Dr Diaswati Mardiasmo said.</p>
<p><em><a href="https://www.propertyobserver.com.au/images/2019/9/25/PRD%202.png" target="_blank">Click here</a> to enlarge: </em></p>
<p><img src="https://www.urban.com.au/images/2019/9/25/PRD%202.png" alt=""></p>
<p><em>Source: PRD SEQ premium property report</em></p>
<p>Other key findings in this report include:</p>
<ol>
<li>
<p>Brisbane, Gold Coast and Sunshine Coast premium unit markets have shown strong buyer activity. The Brisbane premium unit market almost doubled from 4.5% in 2014, to 8.0% in 2019. The Gold Coast grew from 5.5% in 2014, to 7.3% in 2019. The Sunshine Coast grew significantly from 2.8% in 2014, to 5.1% in 2019.</p>
</li>
<li>
<p>Across SEQ, each region saw a significant decline in average days on the market for both premium units and houses. Gold Coast premium units experienced the most significant decline, from an average of 224 days in 2014, to 142 days in 2019.</p>
</li>
</ol>
<p>PRD Research provides expert insight analysis on transaction activity within the SEQ premium property market, particularly to what extent it is influenced by price swings in Sydney and Melbourne.</p>
<p>Data for this report was collected based on the three major Local Government Areas within SEQ: Brisbane City Council, Gold Coast Council and Sunshine Coast Regional.</p>
<p>Find out more about vacancy rate trends and population forecasts by downloading the report at <a href="https://www.prd.com.au/research-hub/" target="_blank">PRD's website</a>.</p>
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Buyers flocking to SEQ premium property market: PRD

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<p>The pressure of Australia’s ageing population and growing desire for affordability calls for an investigation into the diversity of housing options such as Manufactured Home Estates (MHEs), according to PRD Nationwide.</p>
<p>Aged care and retirement villages are the two more common accommodation choices, whilst Manufactured Home Estates (MHEs) are less recognised.</p>
<p>PRD Nationwide define MHEs as a house like structure that are traditionally designed to be moved, not permanently attached to land (pictured).</p>
<p>However, in recent years there has been a move towards more luxurious and permanent structures.</p>
<p>MHEs are found in purpose-built parks, made up of manufactured homes exclusively, and are often targeted to the over-50s age group.</p>
<p>These homes are managed/owned by a park owner. A resident can purchase the house structure but not the land.</p>
<p>MHEs may offer a more affordable alternative with remarkable investment benefits in a highly demand driven market. However, there is a lack of industry information available.</p>
<p>As a result PRD Nationwide is launching a research project of which the primary aim is to determine the affordability of MHEs, the possible benefits, and potential problems of MHEs for both residents, developers and operators.</p>
<p>The secondary aim is to establish avenues for future research to encourage more exposure on this alternative accommodation solution.</p>
<p>The average listing price of MHEs in the South East Queensland (SEQ) region was $338,178, which is lower than the median house prices in Queensland metro areas such as Brisbane, Gold Coast and Sunshine Coast.</p>
<p>This suggests that MHEs can address some affordability issues and accommodate certain demographics of the retired population. The lower to middle wealth retirees can achieve this by selling their home and purchasing a MHE.</p>
<p>This will allow them to have sufficient cash left over to afford a comfortable lifestyle. However PRD found some major challenges in the MHE industry relating to:</p>
<ul>
<li>The availability of suitable and affordable land</li>
<li>Determining what to provide and for who</li>
<li>Keeping up with demand</li>
<li>Providing a higher level of care</li>
</ul>
<p>Based on MHE property listings in SEQ (Table 1), a buyer of an older MHE could pay as little as $110,000, yet newer MHEs are being sold for as much as $650,000 or up to $1,050,000.</p>
<p>They found, "the change in pricing can be explained through the introduction of recreation facilities around the MHE, as well as more luxurious fit-out within the MHE itself."</p>
<p>"Furthermore there is a higher tendency from the 50+ aged group to downsize from their current homes to a more lifestyle orientated MHE, as opposed to choosing a traditional aged care home with limited options."</p>
<p>"This suggests that MHEs are moving away from their traditional purpose as an affordable option for retirees and are now becoming a highly sought-after product for wealthier buyers and part-time workers."</p>
<p>"Premium MHEs are typically located in well serviced areas, have pleasant scenery, and modern facilities."</p>
<p>"That said, the average price of MHEs remain relatively low when compared to houses within their locality, indicating that there are still affordable MHE options available in SEQ," PRD stated.</p>
<p>PRD argues there are a number of reasons to pursue MHE's as an avenue for retirees ranging from:</p>
<p>Retirees not having to ‘break the bank’ or sacrificing their wealth.</p>
<p>Architects, designers, developers and sales agents will have a new line of products to create and sell.</p>
<p>The construction of new and/or improved MHEs will increase labour demand for builders.</p>
<p>Investors and MHE site/park owners will benefit from a high yielding market that has solid and consistent cash flows.</p>
<p>MHE’s could soften pressures on governments as their need for funding the ageing populations’ needs relaxes, allowing them to re-direct their budget into other sectors such as education, infrastructure development, and others.</p>
<p>"The progression of this industry can be accomplished by wielding all the valuable stakeholders with a deeper understanding of the benefits of MHEs as a retirement housing option. This will improve the decision-making practices for buyers and investors; and help to maintain sufficient, appropriate and adequate housing solutions for the ageing and retired," PRD concluded.</p>
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Are manufactured home estates an affordable retirement housing option?

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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>House and unit median prices in Moreton Bay have mostly risen over the past year, according to the latest research from PRDnationwide.</p>
<p>According to the <em>South East Queensland Property Hotspots: Second Half of 2016</em> report, Burpengarry East led the way for house price gains in the region with a 22.7 percent year on year median price gain.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/MORE-1.jpg" target="_blank">Click to enlarge</a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/MORE-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/2017/02/01/MORE-1.jpg" alt=""></a></p>
<p>Deception Bay and Beachmere are two of the cheapest house price areas in the region, but with millions of infrastructure slated for those areas, they may improve upon already healthy rental yields of over 5 percent.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/more-2.jpg" target="_blank">Click to enlarge</a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/more-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/2017/02/01/more-2.jpg" alt=""></a></p>
<p> </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/more-3.jpg" target="_blank">Click to enlarge</a></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/more-3.jpg"><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/2017/02/01/more-3.jpg" alt=""></a></p>
<p> Median unit prices have stalled in Moreton Bay over the past couple of years, although media house prices continue a solid gain. </p>
<p>Click to enlarge</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/more-4.jpg"><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/2017/02/01/more-4.jpg" alt=""></a></p>
<p>A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-burpengary+east-124362566" target="_blank">3 Camphor Court</a>, <span>Burpengary East</span> (above) has bee listed for sale for over $549,000.</p>
<p>Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-burpengary+east-124156498" target="_blank">443 Uhlmann Road</a>, Burpengary East (below) has been listed for sale for over $549,000.</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/2017/02/01/443%20Uhlmann%20Road.jpg" alt=""></p>
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