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Australian Economic Property Report 2019

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Nov. 21, 2019, 12:38 a.m.

Port Stephens PRD Market Update 2nd Half of 2019

In Q3 2019, Port Stephens recorded a median house price of $620,000, and a median unit price of $415,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -11.3% for houses and -11.6% for units. There has been a clear improvement over the past 6 months however, with median prices showing notably less severe softening, of -7.5% for houses and -1.6% for units. This suggests that confidence is returning, and the market is recovering.

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Nov. 21, 2019, 12:28 a.m.

Wagga Wagga PRD Market Update 2nd Half of 2019

In Q3 2019, Wagga Wagga recorded a median house price of $372,500, and a median unit price of $261,250. This represents annual (Q3 2018 – Q3 2019) median price growth of 0.4% for houses and a price softening of -3.3% for units. At the same time total house sales increased by 13.4% (297 sales), while units slowed by -3.3% (29 sales). Confidence is returning in the Wagga Wagga house market, while units have become more affordable for first home buyers.

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Nov. 21, 2019, 12:18 a.m.

Tamworth PRD Market Update 2nd Half of 2019

In Q3 2019, Tamworth recorded a median house price of $339,500, and a median unit price of $185,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -6.2% for houses and -35.8% for units (low unit sales make this a volatile statistic). At the same time total sales slowed, by -14.4% for houses (214 sales) and by -45.0% for units (11 sales). With properties becoming more affordable and less competition in the market, now is the time to buy.

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Nov. 18, 2019, 4:34 a.m.

Maroubra PRD Market Update 2nd Half of 2019

In Q3 2019, Maroubra* recorded a median house price of $1,670,000, and a median unit price of $817,750. This represents annual (Q3 2018 – Q3 2019) median price softening of -8.1% for houses and -6.8% for units. At the same time total house sales improved by 2.5% to 81 sales, whilst unit sales remained unchanged at 138 sales. Increased buyer activity suggests confidence is returning to Maroubra*, which should lift price growth in the near future.

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Nov. 18, 2019, 4:17 a.m.

Morisset PRD Market Update 2nd Half of 2019

In Q3 2019, Morisset recorded a median house price of $550,000, and a median unit price of $375,000. This represents annual (Q3 2018 – Q3 2019) median price growth of 2.8% for houses and a price softening of -8.8% for units. At the same time, total sales in both markets slowed for Q3 2019, down by -4.0% for houses to 96 sales and by -71.4% for units to 2 sales. With less competition in the market now is the time for buyers to act.

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Nov. 18, 2019, 4:03 a.m.

Oatley PRD Market Update 2nd Half of 2019

In Q3 2019, Oatley recorded a median house price of $1,200,000, and a median unit price of $632,500. This represents annual (Q3 2018 – Q3 2019) median price softening of -7.9% for houses and growth of 7.2% for units. At the same time total house sales improved for Q3 2019, by 9.4% to 93 sales, whilst units slowed by -16.5% to 76 sales. Houses are more affordable for buyers, and there is a potential undersupply in units – good news for unit owners.

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Nov. 18, 2019, 3:48 a.m.

Panania and surrounds PRD Market Update 2nd Half of 2019

In Q3 2019, Panania, which in this report refers to aggregate suburbs of Panania, East Hill, Padstow, Picnic Point, Revesby, and Milperra; recorded a median house price of $952,500, and a median unit price of $808,000. This represents annual (Q3 2018 – Q3 2019) price softening of -0.3% for houses and growth of 12.9% for units. Total sales slowed by -12.3% for houses (135 sales) and increased by 186.2% (83) sales. The unit market is strong, whilst the house market is in recovery. Now is the time to transact in the market.

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Nov. 18, 2019, 3:39 a.m.

Liverpool PRD Market Update 2nd Half of 2019

In Q3 2019, Liverpool recorded a median house price of $740,000, and a median unit price of $472,650. This represents annual (Q3 2018 – Q3 2019) median price softening -3.9% for houses and -7.1% for units. At the same time, total house sales improved for Q3 2019, up 9.0% for houses to 422 sales, while units slowed by -7.1% to 145 sales. The Liverpool market has been relatively resilient to the wider price adjustments across Sydney, making it ideal to buy in.

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Nov. 18, 2019, 3:32 a.m.

Ramsgate Beach PRD Market Update 2nd Half of 2019

In Q3 2019, Ramsgate Beach recorded a median house price of $1,250,000, and a median unit price of $666,500. This represents annual (Q3 2018 – Q3 2019) median price softening of -13.2% for houses and -4.7% for units. At the same time total house sales slowed, down by -2.4% (to 40 sales), while units sales remained steady (at 91 sales). The 6-months outlook is more positive for the Ramsgate Beach however, suggesting a return in market confidence.

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Nov. 18, 2019, 2:28 a.m.

Ipswich PRD Market Update 2nd Half 2019

In Q3 2019, Ipswich recorded a median house price of $310,000, and a median unit price of $240,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -3.4% for houses and -7.1% for units. At the same time total sales slowed, down by -45.5% for houses to 96 sales and by -37.5% for units to 20 sales. With higher price affordability and less market competition Ipswich is a prime market for first home buyers and investors.