A rising number of Australians are setting up self-managed superannuation funds (SMSFs), and the opportunity to buy property appears to be a key driver of this trend. The latest data from the Australian Bureau of Statistics shows there were a net 20,030 SMSFs set up over the 12 months to…
Strong selling conditions across most markets led to the highest level of profitable resales nationally during the March quarter since July 2010, a new CoreLogic report shows. There were approximately 85,000 resales during the quarter and 94.3% of them were profitable, meaning they sold for prices above what the vendors originally…
Sales volumes across Australia’s mainland states have increased as buyers get used to high interest rates and fear of missing out (FOMO) drives them to buy before home values go any higher. These are the findings of a report by digital settlements company PEXA, which shows the number of residential property settlements…
The multi-speed nature of Australia’s property market today can be seen in the 12-month price changes across our capital cities and regions. Over the 12 months to May 31, here’s how median home values in the capital cities have changed: Perth 22%, Brisbane 16.3%, Adelaide 14.4%, Sydney 7.4%, Darwin 3.5%, Canberra 2%, Melbourne 1.8%…
Australian property continues to defy historical trends, with home values still rising in most capital city and regional markets despite today’s high interest rates. About a quarter of the world’s central banks have begun cutting interest rates, according to AMP, with Switzerland the first major economy to cut rates in March,…
New home approvals per capita are at decade-lows right now, exacerbating a long-term undersupply of homes in Australia. Meantime, demand for both owner-occupier and rental housing is high, not just because of record overseas migration but also because of demographic changes. Australia’s population is about 27 million and there are about…
Australia is not just one property market. It is a collection of markets, and it could be argued that each of those markets is defined by suburb boundaries. That means we have 15,300 different markets in Australia, by the way, because that’s how many suburbs the Australian Bureau of Statistics recorded…
Australians think property is the most important type of investment for building wealth, followed by superannuation and savings in the bank, according to a new survey. The survey, conducted by financial advisory company, Findex, asked 1,000 Australians aged 18 to 64 years who have superannuation funds but are not yet retired…
Throughout my 40 years in real estate, I have always advocated the use of price guides in property marketing campaigns. Price guides answer the first question that every prospective buyer has on a property of interest to them. They also help buyers work out which homes are worth inspecting, and that’s…
One of the reasons Australia has such a long history of continually rising property values is that so many of us choose to live in one of just eight capital cities. In fact, 75% of Australia’s population lives on just 2.6% of the country’s total land mass, according to CoreLogic data….
Millennials have become the most active generation of investors with about one in three buying property on their own, using strategies such as rentvesting to begin their property ownership journey. The Commonwealth Bank says 46% of its new property investor customers last year were Millennials, who were born between 1981 and…
Australian home values continue to trend higher this year, and despite an increase in the number of homes going to auction before the Easter holidays, the national preliminary clearance rate is holding up well at about 70%. A new CoreLogic report shows national home values grew by 1.3% over the…
Over the past two decades, single career women have become an influential buying force in the property market. When I started in real estate 40 years ago, it was very rare to conduct an auction and have a 28-year-old female on her own buy the property. Nowadays when you put…
With investors returning to the market this year, I have two crucial tips to buy well. Tip 1: Don’t try to over-finesse the timing of your purchase. The golden rule with property investment is you must buy with a medium to long-term view. Nothing less than five years, and 10…
Congratulations to the purchasers of the beautiful 60 Centennial Crescent! 😍⭐🔑 20 Days on Market – 22 Buyers – Sold for $1.25M With 21 buyers missing out on this gorgeous home, if you are thinking of selling now or in the future, give Team Fitzgerald McGrath Estate Agents a call…
In many ways, it is counterintuitive that the market is showing such resilience despite 13 interest rate rises and a range of economic headwinds around the world. But if you’re out there attending auctions at the moment, you’d say the market is remarkably strong, and data has backed that up,…
We’ve seen remarkably strong clearance rates over the first few weekends of auctions this Autumn season, with robust demand and a continuing tight supply of homes for sale in many markets. The national preliminary clearance rate has been consistently above 70%, and in markets where there are a higher number…
I can see many lifestyle areas performing as well or better than their city counterparts over the next decade. This capital growth will be driven by two main trends. Firstly, as our population continues to age, more empty nesters will be purchasing premium houses and apartments in desirable seachange…
The Autumn auction season is off to a very strong start, with higher-than-average auction clearance rates recorded and enthusiastic bidding among multiple parties seen across many markets. The first major Saturday of 2024 saw the second-highest number of homes go to auction since CoreLogic began keeping records in 2008….
It’s interesting to see more first home buying in the market despite 13 interest rate rises since May 2022 and a cost-of-living crunch caused by inflation. Traditionally, first home buyers have the tightest budgets of all, so why are more of them around? First to the data. The latest…
Affordable suburbs with median house prices below $500,000 dominated the best areas for price growth across Australia last year. CoreLogic’s annual Best of the Best report shows that buyers competed strongly for affordable homes in lower-priced markets amid high interest rates. Perth suburbs dominated the best growth areas…
“Team Fitzy helped us from start to finish. Well done all. Great and timely result. We couldn’t be happier.” – Seller of House in Orange “Excellent communications with updates regularly. Very professional and easy to talk to. Very knowledgeable on the market but also listened to what I thought. Property…
I’d like to wish everyone a happy new year and offer some insights as to what may happen in the property market in 2024. First of all, it is clear that we are at or very near to the end of this rate-hiking cycle. With inflation falling from 8.4% at…
The market correction we experienced during FY23 was both short and sharp, with Australian home values returning to growth much earlier than expected despite continually increasing interest rates. A shortage of stock for sale is driving the commencement of this new market cycle which is a trend being seen across…
📚 Looking for useful guides on home buying, selling, renting, and more? Look no further! 🏡✨ Check out our McGrath Guides page for expert advice and helpful tips to navigate the real estate world. Whether you’re preparing your home for sale, maximizing your property investment, or needing a home…
It’s one of the most fundamental shifts in the Australian psyche in recent history: city slickers who’d never seriously considered making the move to a regional area before suddenly had their eyes opened to the idea en masse. Enticed by the promise of getting better value for their hard-earned dollar…
It’s one of the most fundamental shifts in the Australian psyche in recent history: city slickers who’d never seriously considered making the move to a regional area before suddenly had their eyes opened to the idea en masse. Enticed by the promise of getting better value for their hard-earned dollar…
The Australian property market continues to demonstrate strength and resilience this Spring season. We are seeing very solid results and consistently high auction clearance rates week after week. This indicates that the increase in the number of homes for sale this Spring has not interrupted the market’s positive trajectory and…
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