Archive for October, 2014

All signs point to Sydney property market

The New South Wales real estate market is in a good place, with solid house price growth expected over the next two years and strong sentiment recorded, the latest National Australia Bank (NAB) Residential Property Survey revealed.

Reporting on conditions over the third quarter of this year, the survey found that national house prices were expected to improve in every state … Read more »

Sellers win out in Sydney, buyers to look further out

Both property buyers and sellers have something to take away from the recent Home Buyers Index (HBI) released by Commonwealth Bank and RP Data.

While the national housing market has moved from a balanced one in May to one favouring buyers in August, Sydney has remained a strong market for sellers. The last three times it has been measured¬†– which includes … Read more »

Housing starts hit record numbers in June quarter

The period from June to August was something of a bumper quarter for dwelling starts, with 47,558 starts recorded – a 16 per cent year-on-year increase.

This brings the total number of dwelling starts over the year to 181,904, surpassing the 180,000 mark that experts have been touting as the minimum yearly target needed to house Australia’s growing population.

“Back in early … Read more »

Calling all tenants: Rents flat in Sydney

The latest RP Data Quarterly Rental Review may have some good news for renters in the greater Sydney area. While the annual rate for units and houses increased by 1.3 per cent nationally, rents for houses in Australia’s capitals showed a striking 0 per cent growth.

Indeed, when looking at Sydney in particular, New South Wales’ capital saw only a 1 … Read more »

NSW apartments dominate year’s housing starts

Apartments are already an attractive property option for many buyers, from those looking for a more affordable living space to individuals looking to downsize after a change in their family situation. The good news for these types of buyers is that apartment supply looks to be soaring.

The most recent Housing Industry Association (HIA)-COLORBOND steel Housing 100 Report has revealed that … Read more »

Pitt Street Mall to breathe life into retail sector

A new city program is set to liven up Sydney’s retail sector, with live music, performances and events to be held at Pitt Street Mall.

The mall, Australia’s busiest retail area, will see up to 12 events take place during a year-long trial in order to see if it will attract any additional shoppers to the Sydney CBD.

According to Lord Mayor … Read more »

WestConnex rolls into stage two

Stage two of Sydney’s WestConnex¬†project has commenced, with invitations issued to companies to design and construct the new tunnels needed for the project.

Thanks to a $2 billion concessional loan from the federal government, the project team will now be able to undertake around 100 geotechnical drills along the M5 corridor. The drilling will take place over 18 months on the … Read more »

HIA: Don’t scrap negative gearing

A new report from the Housing Industry Association (HIA) has defended the practice of negative gearing against increasing assault.

Negative gearing has been a hot topic in the news recently, with commentators and lawmakers alike calling for it to be limited or scrapped entirely. Negative gearing allows investors to lower their tax burden by fully deducting any costs associated with a … Read more »

All systems go for housing market over the coming year

A new report indicates the Australian property market is looking healthy going into spring, with Sydney in particular showing striking gains.

The RP Data and Property Council of Australia’s Australian Residential Development Outlook for spring 2014 has argued that the nation’s construction industry will improve buyers’ accessibility to housing by ramping up dwelling starts in 2015, passing the 180,000 mark. Over … Read more »