5 things to know in property this week
As they say, no news is good news, right? With the end of the banking Royal Commission, the exposure of the population growth fears and the repetitive reporting of lack of growth, on a national level, apart from clearance rates, it appears there was not much of significance to report.
Perhaps everyone wants a rest from the pessimistic news? This piece from Domain certainly confirms the feeling of positivity a lot of people have:
Next, to clearance rates, which did go down this week, but, in some positive news for unit buyers:
Reverting to the theme seen over much of the past few months, clearance rates for units were far stronger than for houses, standing at 63.1% and 56.5% respectively for the week.
There was some more good news from Business Insider: It's getting more affordable to rent a home in Australia. Of course, this would be expected after reports of vacancy rates.
Meanwhile, across the country, Tasmania is still looking desirable
"More people are moving to Tasmania, creating demand for homes and building new homes. If you look at the performance in terms of housing, finance and dwelling starts, Tasmania ranks third in the nation on both those indicators."
In Brisbane, apartment sales are looking up. From the article:
We have seen a rise in open house numbers, offers and now sales. We are yet to see an increase in price, but that is largely due to the number of apartments that have been on the market.
We're selling some great apartments in Brisbane, close to the CBD, so if you're interested, please contact us.
In Sydney, it continues to be a mixed market, with homes in the north, east and inner west consistently performing well: Renovated family homes hold interest despite Sydney clearance-rate plunge
Have a great week everyone!