Archive for April, 2019

EXPERT OBSERVATION Around half of all homes up for auction across Australia’s capital cities sold during the first quarter of 2019, with the latest CoreLogic Quarterly Auction Market Review showing a clearance rate of 49.9% across the combined capitals. This is an increase of +6.6 percentage points on the December quarter results. While clearance rates for the March quarter are on the up, they pale in comparison to the same quarter last year, when 64.6% of properties across the combined capitals sold at auction. “Auction volumes and clearance rates are mirroring the broader slowdown in property transaction and housing market conditions. Auction clearance... View article »

Property Nest has launched Questions & Answers last week, and today we are sharing Round 2. In this video, Agent Stevan Vuk-Luboya answer to these questions: 1. How do you compare last downturn in 2011-2012 with the current property downturn? 2. What buyers are looking for in current market? 3. What advise could you give to property investors? 4. What are the challengers for motivated sellers? If you have a question and would like Stevan to answer it, please submit to info@propertynest.com.au or simply via Online form here:  View article »

Throughout 2018, Australia’s population hit a milestone of 25 million, years ahead of the expectations of the Australian Bureau of Statistics. Strong levels of overseas migration and a robust health system saw our nation’s population grow faster than the majority of the OECD. Since 2000, our countries population has added the equivalent to the whole population of Queensland and this growth is still apparent today, with the ABS estimating Australia adds a new residents every 83 seconds. Possibly the biggest success story over this period in terms of property, was the growth of the Western Sydney market. A region that was... View article »

Less than a week and a half ago, Property Nest has launched Questions & Answers. All questions received from Instagram, Facebook and E-mail will be feature in our Wednesday videos. Stay tuned! In this video, Agent Stevan Vuk-Luboya answer to audience questions: 1. Is it a good time to buy off the plan? 2. Would you auction your property in this market? 3. What is the most important factor achieving good sale price? View article »

Sydney’s auction market has posted its strongest result in a year but the number of properties going under the hammer is markedly down on this time last year. With 608 auctions scheduled across Sydney for Saturday, sellers have some cause for optimism, experts say, because the number of properties up for auction last month was much higher than February and the clearance rate remained steady. If clearance rates continue to hold around 50 per cent over the initial two weekends in April, it could be an indication that seller pricing expectations have adjusted to softer market conditions. “More buyers are attending auctions and... View article »

We have experienced a slight improvement in the market for sales activity, late last year we saw sales volumes and prices stagnate significantly, but the first quarter of 2019 has seen slightly improved conditions for sellers with more inquiries and some addition willingness to negotiate. This to me signifies a changing market momentum as well as improving conditions. This reflects the comments made by Tim Lawless of Corelogic in February that the property market is stabilising at a new level and the mortgage conditions will improve. We have already seen ANZ take the lead in offering interest only loans to... View article »

Investors should try to seal their property purchases before January 1 to lock in existing negative gearing tax breaks and capital gains tax discount rather than buy "riskier" newly-built property under Labor's proposed tax reforms, say financial advisers. Jonathan Philpot, a partner at accountants HLB Mann Judd, said investors "still had time" to acquire negatively-geared existing property if they wanted to build their wealth that way. "But they have to get their acts into gear now because it's a tougher process with the banks to get loans approved," he said. Mr Philpot discouraged investors from holding off and investing in riskier newly-built property... View article »