Unit Prices

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<p>According to Domain's House Price Report for the June quarter prices on units fell across Australia with houses seeing similar results.</p>
<p>They found, all major capital cities saw unit prices fall across the June quarter; only Adelaide, Canberra and Hobart saw an increase in house prices during this period.</p>
<p><span>Price falls to date have been minimal from the pre-coronavirus March quarter to June. </span></p>
<p><span>S</span>ignificant government stimulus, mortgage holidays and low interest rates have supported home values, and kept distressed and urgent selling low. </p>
<p><span>With lenders extending mortgage pauses for those under serious financial strain, and the JobKeeper subsidy being extended, the outlook for prices largely depends upon how well the economy is tracking when fiscal stimulus ends.</span></p>
<p><a href="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/75efec9e-c7f3-4327-93bf-b0973ef61244.png" target="_blank">Click to enlarge</a>:</p>
<p><span><img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/75efec9e-c7f3-4327-93bf-b0973ef61244.png" width="980" height="583" data-imagetype="External"></span></p>
<p><a href="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/1d2bf323-8e75-4224-92bd-83dd94605fea.png" target="_blank">Click to enlarge</a>:</p>
<p><span><img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/1d2bf323-8e75-4224-92bd-83dd94605fea.png" data-imagetype="External"></span></p>
<p>“Nationally house prices have dropped by 2 per cent and unit prices by 2.2 per cent over the June quarter."</p>
<p>"This is the first quarter to show the impact of COVID-19, reversing upward price swings in Sydney and Melbourne."</p>
<p>"While most capital cities declined, the falls have been minimal to-date as unprecedented government stimulus, mortgage holidays, low stock levels and record low interest rates shield values from any significant declines, helping to retain stability in the housing market,” said Domain Senior Research Analyst, Dr Nicola Powell.</p>
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j.ballantyne1990-6AQqhLzZaK

Unit prices fall nationally with houses hit slightly less: Domain

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<p>Throughout 2019, Melbourne's house price have almost recovered what was lost during the slump, according to the latest quarterly report from Domain.</p>
<p>Houses have seen a 5% increase in value with median prices reaching $901,951. Units have seen even stronger growth of 5.6% with median values hovering around $549,701.</p>
<p>Though the year sprung off with deteriorating prices, the rest of 2019 saw growth, with the the final quarter providing the strongest quarterly gain in three years and the largest annual jump in two years.</p>
<p>With just under $6,800 left to regain, it appears that house prices are set for a new record high next quarter. </p>
<p>However, this recovery remains uneven across the Melbourne as there are substantial price rises concentrated at the upper-end, led by the city, the inner east and inner south. </p>
<p>Units in Melbourne continue to outperform houses as unit prices produced the strongest quarterly growth since mid-2009, and the biggest annual surge since mid-2010.</p>
<p>Unit prices are currently at a new record high that is 7.5 per cent higher than the previous peak in early 2018. </p>
<p>Melbourne and Hobart units were the only cities to record a new high. Meanwhile, other cities remain below previous peaks in unit prices. </p>
<p>Melbourne is the second most unaffordable city for units, with its price being higher than the median house prices in Adelaide, Perth, Darwin and Hobart. </p>
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Melbourne's property prices look set for a new record high: Domain

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<p>Rushcutters Bay has witnessed the biggest unit price growth across Sydney, according to Domain Group data.</p>
<p>It suggests the suburb's median house price has increased 23.7%, with a median price of $804,000.</p>
<p>Some of the suburbs that saw the greatest declines in house prices saw some of the strongest price growth in units over the year. </p>
<p>Units in Petersham recorded a 16.6% growth year-on-year, raising the median price to $780,000.</p>
<p>Domain Group data scientist Dr Nicola Powell said a price correction in some suburbs was part of the property cycle "and is not necessarily a bad thing”, she said.</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/2018/8/1/domain%20unit%20.jpg" alt=""></p>
<p><em>Source: Domain</em></p>
<p>A Rushcutters Bay one bedroom apartment was sold for $943,000 in March (pictured below).</p>
<p>Set within a 1920s security building, <a href="https://www.realestate.com.au/sold/property-apartment-nsw-rushcutters+bay-127952298" target="_blank">14/46 Roslyn Gardens</a> comes with bedroom with built-in, updated seperate kitchen, generous living, and updated bathroom.</p>
<p>Other features include polished timber floors, high ceilings and common laundry.</p>
<p>It is close to cafes and eateries, and with easy access to the CBD and local transport. </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/2018/8/1/rushcutters%20bay%202.jpg" alt=""></p>
<p>Another sale was a Bayswater Road one bedroom apartment which was sold off market at $1.15 million. </p>
<p><a href="https://www.realestate.com.au/sold/property-apartment-nsw-rushcutters+bay-128454942" target="_blank">The 204/72-78 Bayswater Road</a> apartment features the double bedroom, open plan living and dining, integrated stainless steel gas kitchen and undercover parking.</p>
<p>Located in a landmark building completed in 2001, the apartment is 600 metres from Kings Cross station.</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/2018/8/1/rushcutter%20bay%203.jpg" alt=""></p>
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Rushcutters Bay records Sydney's strongest annual unit price growth: Domain

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<p>Moe, a suburb in Latrobe Valley in the Gippsland region of Victoria, ranks among the cheapest locations in Australia, according to Investar.</p>
<p>Investar suggests the suburb's median unit price sits on $60,000.</p>
<p>It is followed by Queensland's Woree and Tasmania locality, Queenstown.</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/2018/4/3/CHEAPEST%20MOE.jpg" alt=""></p>
<p>A Moe single bedroom unit current on the market is priced at $60,000 (pictured top).</p>
<p>Located in the centre of the town, the<a href="https://www.realestate.com.au/property-unit-vic-moe-124324898" target="_blank"> 45/48 Haigh Street unit </a>comes with one bedroom, laminate kitchen with electric cooking, and combined bathroom and laundry.</p>
<p>It is marketed as being close to schools, shops and transports. </p>
<p>Another two bedroom unit has been recently sold for $118,500 by Graeme Yalden from Stockdale &amp; Leggo Moe (pictured below).</p>
<p>Located within an easy walking distance from town centre,<a href="https://www.realestate.com.au/sold/property-unit-vic-moe-127191086" target="_blank"> the 4/25 May Street</a> home comes two bedrooms, one bathroom and one parking space.</p>
<p>Additional features include quality blinds, drapes and floor coverings, and R/C split system.</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/2018/4/3/425%20may%20st.jpg" alt=""></p>
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Moe, Victoria offers Australia's cheapest units

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<p>The median unit price in Brisbane dropped 5.5 percent over the June quarter to $375,000.</p>
<p>Annually, unit prices are down 4.9 percent, the latest <em>Domain State of the Market Report calculates.</em></p>
<p>Domain Group chief economist Andrew Wilson not at 3.1 percent annual house price growth is still positive, but this is the slowest growth rate recorded since 2013.<span class="photographer"><br></span></p>
<p>The drop of 5.5 per cent is the steepest fall in unit prices since the December 2000 quarter - and is predicted to continue as supply continues to outweigh demand.</p>
<p>In the Greater Brisbane area, which includes the local government areas of Moreton Bay, Ipswich, Redland City and Logan, house prices fell 0.1 per cent</p>
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
<p>Region</p>
</td>
<td valign="top" width="106">
<p>Median price</p>
</td>
<td valign="top" width="106">
<p>Quarter change</p>
</td>
<td valign="top" width="106">
<p>Year change</p>
</td>
</tr>
<tr>
<td valign="top" width="106">
<p>Brisbane (C)</p>
</td>
<td valign="top" width="106">
<p>$657,500</p>
</td>
<td valign="top" width="106">
<p>4.4%</p>
</td>
<td valign="top" width="106">
<p>1.2%</p>
</td>
</tr>
<tr>
<td valign="top" width="106">
<p>Ipswich (C)</p>
</td>
<td valign="top" width="106">
<p>$371,000</p>
</td>
<td valign="top" width="106">
<p>6.3%</p>
</td>
<td valign="top" width="106">
<p>-2.1%</p>
</td>
</tr>
<tr>
<td valign="top" width="106">
<p>Logan (C)</p>
</td>
<td valign="top" width="106">
<p>$400,000</p>
</td>
<td valign="top" width="106">
<p>0%</p>
</td>
<td valign="top" width="106">
<p>0%</p>
</td>
</tr>
<tr>
<td valign="top" width="106">
<p>Moreton Bay (C)</p>
</td>
<td valign="top" width="106">
<p>$445,000</p>
</td>
<td valign="top" width="106">
<p>1.4%</p>
</td>
<td valign="top" width="106">
<p>-1.1%</p>
</td>
</tr>
<tr>
<td valign="top" width="106">
<p>Redland (C)</p>
</td>
<td valign="top" width="106">
<p>$520,000</p>
</td>
<td valign="top" width="106">
<p>0%</p>
</td>
<td valign="top" width="106">
<p>-0.4%</p>
</td>
</tr>
</tbody></table>
<p>House prices in Ipswich, Moreton Bay and Redland City have all recorded drops, while Logan’s house prices are flat.</p>
<p>Brisbane as a city has performed slightly better, recording a 1.2 per cent rise in house prices. The median is now $657,500.</p>
<p>CoreLogic is not tracking the same decline.</p>
<p>Brisbane has the third highest 12 month home value growth among the capitals, according to CoreLogic’s latest report.</p>
<p>The property data firm says that in the past 12 months Brisbane’s home value has risen by 4%</p>
<p>The property data firm says that a rise in house values compensates a fall in unit values takes Brisbane’s annual growth rate into 2% in the June quarter.</p>
<p>Melbourne and Sydney take the top two spots with a home value growth of 16% and 13% respectively.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/07/17/Screen%20Shot%202017-07-17%20at%2012.12.17%20pm.jpg" target="_blank">Click to enlarge</a></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/2017/07/17/Screen%20Shot%202017-07-17%20at%2012.12.17%20pm.jpg" alt=""></p>
<p> </p>
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Brisbane unit prices in serious price decline: Domain

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<p>Apartments in Dubbo, the NSW Central Coast, Melbourne and the Gold Coast are at the peak of the market cycle according to analyst firm Herron Todd White's property clock for units in September.</p>
<p><span>Apartments in Melbourne, the Gold Coast, Newcastle and the NSW Central Coast </span>were at the <a href="/expert-insights/56760-melbourne-gold-coast-newcastle-apartments-at-market-peak-htw" target="_blank">peak of the market cycle in August.</a></p>
<p><a href="/images/2016/09/16/Screen%20Shot%202016-09-16%20at%201.42.59%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/16/Screen%20Shot%202016-09-16%20at%201.42.59%20PM.png" alt=""></p>
<p>According to HTW, recently completed medium density 18 unit town house developments (Saratoga) are proving successful.</p>
<p>"The second release of 55 units is now under construction," HTW said.</p>
<p>"These new 3- and 4-bedroom townhouses are priced from $435,000 creating an affordable and attractive proposition for prospective purchasers."</p>
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<p><span>The central Gold Coast, according to HTW, is where long term investors are attracted to walk up units along the beachside with low body corporate fees.</span></p>
<p><span>"These unit rents have increased recently by circa 7 percent making the unit investment appealing," HTW said.</span></p>
<p><span>"Some of these units have also had the potential to be bought out </span>by developers.</p>
<p>"We have seen this in Broadbeach and Surfers Paradise for large parent parcels with a small number of units.</p>
<p>"The walk up units should maintain their steady rental returns with a rental shortage in the Gold Coast central market."</p>
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Apartments in Dubbo, the NSW Central Coast, Melbourne and Gold Coast at peak of the market: HTW

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<p>According to the latest Investar Suburb Reports, New South Wales suburb Merimbula is the cheapest suburb for studio or one bedroom units in Australia.</p>
<p>Merimbula's median listing price for these types of apartments is $45,000.</p>
<p>Nine of the top 50 cheapest property suburbs are for studios and one bedroom apartments, with six of the nine coming from Queensland</p>
<div class="page" title="Page 1"> </div>
<div class="page" title="Page 1">1. Merimbula NSW - Median listing price: $45,000</div>
<div class="page" title="Page 1"> </div>
<div class="page" title="Page 1">2. York, WA - Median listing price: $50,000</div>
<div class="page" title="Page 1"> </div>
<div class="page" title="Page 1">3. Dolphin Heads, QLD - Median listing price: $74,000</div>
<div class="page" title="Page 1"> </div>
<div class="page" title="Page 1">4. Bundamba, QLD - Median listing price: $76,000</div>
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<div class="page" title="Page 1">5. Eagleby, QLD - Median listing price: $89,500.</div>
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Unit investment poll: Which is the smartest investment?

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<p><span>The valuation firm Herron Todd White has issued its latest property clock for the residential market - a simple broad brush means to suggest where property markets are in April - and what direction prices are moving in.</span></p>
<p><span>The regional Victoria city of Horsham joins Melbourne -- also in Victoria -- at the top of the April property clock for units. Horsham is at the peak for the houses clock too. The others (including Melbourne) Coffs Harbour, Dubbo and Newcastle all retain their positions from March, making the peak of market a contest between between Victoria and New South Wales.</span></p>
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<p><span>While Sydney unit were listed in declined, the report noted that in the Sydney southern suburb of Engadine that unit media prices have risen from $415,000 in December 2012 to $617,500 in February 2016, according to realestate.com.au.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">The Gold Coast and Ipswich in Queensland are approaching the peak of the market, while Brisbane and Sydney continue to remain in decline.</span></p>
</div>
</div>
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<div><a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%203.42.43%20PM.png" target="_blank"><span>Click to enlarge</span></a></div>
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<div><span><img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%203.42.43%20PM.png" alt="" width="595" height="467"></span></div>
<div> </div>
<div>Previously HTW had advised a cooling off in the Sydney property market was looking increasing unlikely, at least in the short term.</div>
<div> </div>
<div>"The future over the medium to long term however remains uncertain.</div>
<div> </div>
<div>"One worrying fact is that rental growth has not increased at a level even close to the growth of Sydney property prices.</div>
<div> </div>
<div>"This suggests that the involvement of investors appear to be speculative with many banking on capital gains rather than attractive rental yields.</div>
<div> </div>
<div>"It appears that this increased investor activity (speculative based or otherwise) is driving housing prices to rise faster than fundamental factors suggest they should in the Sydney market.</div>
<div> </div>
<div>"Factors including the aforementioned falling interest rates, continued strong presence of overseas buyers (fuelled by the falling Australian dollar), tax incentives and positive market sentiment, has seen unaffordability levels continue to soar in the Sydney market with home ownership becoming more unattainable for many, especially young people looking to break into the market." </div>
<div> </div>
<div>The report on regional localities noted Port Macquarie’s growth over the past twelve months has been the strongest on the Mid North Coast during the past five years and while the fringe suburbs have shown increases in value over that time, their rate of increase has been behind that of established residential areas within the township.</div>
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prateek24-ezbwHMbNAk

Victoria and NSW jostle at peak of market for units: HTW clock

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<p><span><span>The great Sydney house price boom has ended, <span id="0.6534579191356897" class="highlight">Domain</span><span> senior economist Dr Andrew Wilson says after </span>house price growth tracked back sharply over the September quarter. </span></span></p>
<p><span><span>Sydney recorded a median house price of $1,032,433, up 3.2% over the quarter — the lowest quarterly rate of growth reported since March 2014.</span></span><br><br><span>Sydney’s unit prices increased by 1.5% over the September quarter to $673,182 – an annual rise of 15.1%. Its rate of growth this quarter was also down significantly when compared to the record 7.4% reported over the June quarter.</span><br><br><span>“The extraordinary house price growth Sydney has recorded over the last three years is now clearly receding, although price growth remains relatively strong and well ahead of all other capitals except Melbourne. Sydney’s house prices have increased by a remarkable 21.7% over the year ending September,” Dr Andrew Wilson said.</span></p>
<p>“Nothing will slow a market more than higher interest rates and the enthusiasm of a bullish market has now started to wane,” he told Domain.</p>
<p>The Melbourne median house price increased by 2.8% over the September quarter – exceeding $700,000 for the first time. With a median house price of $707,415, Melbourne is clearly the second highest capital city housing market, still well behind Sydney but ahead of the next placed Darwin. <span><br><br><span>While a strong result, Melbourne house price growth over the September quarter was well below the 6.0 % recorded in the previous June quarter. Melbourne unit prices increased by 1.9 % over the September quarter to $435,674 with annual prices rising by 2.4%. </span></span></p>
<p><a href="/images/2015/10/22/Screen%20Shot%202015-10-22%20at%207.56.34%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/22/Screen%20Shot%202015-10-22%20at%207.56.34%20AM.png" alt=""><br><br><span>“Despite the retreat in the rate of house price growth over the September quarter, Melbourne’s median house price increased by 15.6% over the year which was the highest annual result recorded since June 2010,” Dr Andrew Wilson said. </span></span></p>
<p><span>The Brisbane housing market reported another modest result for house price growth over the September quarter. Its median house price increased by just 0.8% to $497,143 with annual prices up by 3.6%. With the market remaining largely subdued, it is likely that Brisbane house price growth this year will be well below the 6.5% recorded over 2014.</span><br><br><span>Brisbane unit prices fell by 0.6%over the September quarter to $362,737, a drop year-on-year of 5.6%. </span></p>
<p><span>“This was the fifth consecutive quarter of falling unit prices in Brisbane. With high levels of new apartment construction entering the market over the past year, supply has pushed well ahead of demand.” </span></p>
<p><span><span>The Adelaide housing market reported a relatively flat result over the September quarter, with the median house price increasing by just 0.3% to $485,873. This modest result follows two strong quarters of growth with the annual house price still up by 5.1%. </span><br><br><span>Adelaide unit prices also increased slightly, up by just 0.6% over the September quarter to $293,711. </span></span></p>
<p><span><span>“Despite a subdued September quarter of growth, Adelaide’s house prices are still likely to increase at a faster rate this year than the 3.3%recorded over 2014. Year-on-year unit prices have fallen by 1.7%, suggesting that the strong supply of inner city units is moving the market ahead of demand.”</span></span></p>
<p><a href="/images/2015/10/22/Screen%20Shot%202015-10-22%20at%208.00.44%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/22/Screen%20Shot%202015-10-22%20at%208.00.44%20AM.png" alt=""></p>
<p><span>The Perth housing market continued to decline over the September quarter, recording its sharpest fall in house prices since June 2011. The median house price in Perth fell by 2.4% to $589,100 and is now below $600,000 for the first time since the September quarter 2013. </span></p>
<p><span>Perth unit prices also fell sharply over the September quarter down by 3.7% to $390,916 for an annual decline of 2.8%.</span></p>
<p><span>“Perth house prices have now fallen by 3.2% over the past year with only Darwin recording a lower rate of annual house price growth. The sharp deterioration in the local economy and significant increases in jobless numbers has affected buyer and seller confidence. This continues to impact Perth housing market activity,” Dr Wilson said. </span></p>
<p><span>Hobart’s house prices increased marginally over the September quarter, up by 0.9% to $346,370. <br> Rebounding strongly, Hobart’s unit prices performed well over the quarter increasing by 8.5% following a 4.5% fall over the previous June quarter. </span></p>
<p><span>The Hobart median unit price is at $269,302 – an increase of 6.1% over the past year. <br><br> “Despite the modest increase in house prices over the quarter, strong growth earlier in the year has Hobart’s house prices up by 6.5% year-on-year and are on track to increase over 2015 at a significantly higher rate than the 1.3% recorded last year,” Dr Wilson said. </span></p>
<p><span>The Canberra median house price increased by 2.3% over the quarter to reach $625,092. House prices have now increased by 7.8% over the past year, representing a rate of growth behind only Sydney and Melbourne of all the Australian capitals. </span></p>
<p><span>Canberra’s median unit price fell by 4.7% over the September quarter to $385,825 to be below $400,000 for the first time since the December quarter 2009. Annual unit prices in Canberra are now down by 5.7%.</span></p>
<p><span>“Canberra’s annual house price growth rate is the highest recorded by the local market since September 2010 with prices growth this year set to clearly exceed the 3.1% recorded over 2014. The strong result recorded by the Canberra housing market over the September quarter is reflective of rising buyer confidence, which has been restored after a subdued period of buyer activity.</span></p>
<p><span>“While house prices have grown strongly in Canberra this year, unit prices continue to decline. This suggests the high levels of new apartment construction over recent years have moved supply ahead of demand,” Dr Wilson said. </span></p>
<p><span>Darwin’s house prices decreased by 2.3% over the September quarter to $639,042 following strong growth of 3.6% recorded over the June quarter. <br><br> Darwin unit prices were also down sharply over the September quarter falling by 6.1% to $408,904 – an annual decrease of 6.9%. <br><br> “The Darwin median house price has fallen by 5.1% over the past year, which reflects reduced demand from interstate job seekers and an associated weakening of local economic activity.</span></p>
<p><span> “Recent high levels of new apartment construction in Darwin area are a significant factor in weaker unit market performance,” Dr Andrew Wilson said. </span></p>
<p><span> </span></p>
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