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July 29, 2020, 4:03 a.m.
Australia Economic and Property Report 2020
Australia’s property market has managed to hold its value despite the doom and gloom predictions of what the COVID-19 shutdown would do to property prices. The latest PRD research report, ‘PRD Australian Economic and Property Report 2020’, reveals that on average, median house prices grew in capital city, metropolitan and regional markets in the 12 months to the first half of 2020.
June 24, 2020, 5:25 a.m.
Affordable & Liveable Property Guide 1st Half 2020 - Sydney
Median property prices in Sydney Metro increased by 1.3% for houses to $1,355,000 from 2018 to 2019/20(1) and remained steady for units at $796,500. By comparison, from 2017 to 2018 the median house price in Sydney Metro softened by -4.5%, and the median unit price softened by -2.6%. Thus, the market has recovered from the significant price drop seen in mid-2019.
May 14, 2020, 11:30 p.m.
Lismore Property Update 1st Half of 2020
In Q1 2020, Lismore recorded a median house price of $422,000, and a median unit price of $325,000. This represents annual (Q1 2019 – Q1 2020) median price growth of 8.3% for houses and 21.5% for units. Between Q1 2019 – Q1 2020 total sales slowed for house, by -11.7% to 144 sales, but increased for units, by 92.9% to 27 sales. The property market in Lismore is showing signs of growth, particularly for units. There is a unique opportunity for house owners, whereby they can be more confident of their property value.
May 13, 2020, 1:45 a.m.
Top 12 Resilient Regional Areas
The Australian property market is made up of many ‘micro markets’, each performing at its own individual pace dependent upon demographics, population growth, economic structure and fundamentals, and Local/State Government policies. Regional property markets tend to be more resilient compared to their capital city counterparts due to being slightly more insulated from economic shocks, and many Local/State Governments prioritising regional areas growth over the past five years.
April 6, 2020, 1:46 a.m.
Strong Fiscal Policy in Place for Australia to Ride Out COVID-19
COVID-19 is, without a doubt, a disruption and game-changer at the same time. There are many uncertainties at present, and quite a few “doom and gloom” stories on a collapsing economy and being on the brink of a recession. There is no denying that many Australian small businesses and individuals are experiencing the brunt of it, from loss of income to having to close their businesses.
March 30, 2020, 6:22 a.m.
A Home… Or Smashed Avocado On Toast?
The perceived trend of millennials prioritising lifestyle experiences (such as buying smashed avocado on toast), over home ownership aspirations prompted a deeper look into this claim.
March 20, 2020, 5:02 a.m.
Kyogle Property Report 1st Half of 2020
In Q4 2019 Kyogle recorded a median house price of $305,000 and a median land price of $172,000. This represents annual (Q4 2018 – Q4 2019) median price softening of -12.9% for houses and a growth of 13.2% for land. Over the same period, demand softened for houses by -32.5% (to 27 sales), however land demand was stable (at 7 sales in Q4 2019). Current market conditions in Kyogle provides great opportunity for first home buyers, as there is less competition and higher affordability in the housing market.
March 17, 2020, 12:38 a.m.
Australian Bushfires | The Real Estate Perspective
PRD’s latest research report ‘Australia Bushfires | The Real Estate Perspective’ shines a light on the silver lining to the devastating impact many Australian communities have experienced.
Nov. 27, 2019, 5 a.m.
Affordable & Liveable Property Guide 2nd Half 2019 - Sydney
A key finding in this report was that in order to identify affordable and liveable areas, suburbs with declining annual median house or unit price growth had to be considered. This was the same methodology applied in the 1st Half 2019¥ report. Therefore, instead of showcasing only suburbs with price growth (which was the trend in 2nd Half 2018µ report), it continued to be an exercise in minimising the decline in capital growth. This is good news for first home buyers because chosen affordable and liveable suburbs are now even more affordable.
Nov. 21, 2019, 1:51 a.m.
Lismore Property Market Update 2nd Half of 2019
In Q3 2019, Lismore recorded a median house price of $416,000, and a median unit price of $295,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -3.0% for houses and a growth of 14.6% for units. Between Q3 2018-Q3 2019 total house sales slowed by -20.9%, to 167 sales in Q3 2019, and total unit sales remained stable, at 21 sales in Q3 2019. That said there has been a slight lift in market confidence in the past 6 months.