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PRD Real Estate - Your Home Of Property Research Knowledge
June 24, 2020, 5:42 a.m.
National Affordable & Liveable Property Guide 1st Half 2020
The PRD Affordable and Liveable Property Guides 1st Half 2020 are available for Brisbane, Sydney, Melbourne and Hobart. These guides provide valuable insights and highlights of the market and report on many key indicators to create a holistic picture of property conditions in each capital city.
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 2019/201 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.
June 24, 2020, 5:06 a.m.
Affordable & Liveable Property Guide 1st Half 2020 - Melbourne
Melbourne Metro median property prices have softened in view of COVID-19, creating an opportune time for first home buyers wanting to capitalise on a more affordable market.
June 24, 2020, 4:49 a.m.
Affordable & Liveable Property Guide 1st Half 2020 - Hobart
Hobart Metro’s median price growth has shown improvement, showing the market is moving from strength to strength. Sustainable population growth remains a challenge due to continued new dwelling supply constraints. This is evident through low vacancy rates across the city and is likely to continue to put upward pressure on sale and rental prices.
June 24, 2020, 4:13 a.m.
Affordable & Liveable Property Guide 1st Half 2020 - Brisbane
The Brisbane Metro property market has shown resilience throughout these unprecedented times of COVID-19. From 2018 to 2019/201 the number of houses sold in Brisbane Metro increased by 20.9%, and median house prices grew by 1.5%, to $690,000. The number of units sold increased by 13.9%, however the median unit price softened by -1.5% to $450,000. These patterns are similar to Sydney and Melbourne, which also recorded a decline in median unit prices.
June 23, 2020, 6:57 a.m.
Penrith Market Update 1st Half of 2020
PRD Penrith Property Market Update 1st Half of 2020 In Q1 2020, Penrith recorded a median house price of $700,000, and a median unit price of $480,000. This represents annual (Q1 2019 – Q1 2020) median price growth of 8.5% for houses and of 3.2% for units. Between Q1 2019 – Q1 2020 total house sales slowed, by -14.4% to 404 sales, while total unit sales increased by 64.2% to 243 sales. With both median prices showing growth despite varying sales volumes, the Penrith property market is showing high resilience. Now is an ideal time to transact in the market.
May 14, 2020, 11:35 p.m.
Lismore Market 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 15, 2020, 12:54 a.m.
Palm Beach Market Update 1st Half of 2020
Palm Beach recorded a median house price of $907,000 and a median unit price of $552,000 in Q4 2019. This represents annual (Q4 2018 – Q4 2019) median price growth of 6.5% for houses and 14.7% for units. Between Q4 2018 – Q4 2019, total sales strengthened by 11.8% for houses (to 38 sales) and by 4.8% for units (to 66 sales). The Palm Beach market is strong, with an increase in demand and high capital growth. Now is the time to transact in the market, particularly for first home buyers before prices become unaffordable.
April 15, 2020, 12:47 a.m.
Tumbarumba PRD Market Update 1st Half of 2020
In the 2nd half of 2019, Tumbarumba recorded a median house price of $189,000, and a median vacant land price of $47,500. This represents an annual (2nd half of 2018 – 2nd half of 2019) median price softening of -1.6% for houses and growth of 5.5% for vacant land. During this time sales slowed, by -33.3% for houses (to 30 sales) and by -37.5% for land (to 10 sales). Limited land sales make this data more volatile, however Tumbarumba remains a highly affordable option for home and land buyers alike.