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Greater sydney region

Sydney auctions: Crowd swarms Epping house as it sells for record $4.5m

Sydney auctions: Crowd swarms Epping house as it sells for record $4.5m

Crowds at the auction for a house on Damon Ave in Epping. Nervous homeowners have been crowding Sydney’s auction market to get a glimpse of how the market is performing, with more than 250 people seen at one auction in Epping. The Epping house sold for $4.5m on the weekend – a recor...

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Land value soars in Hunter Central Coast region as property market continues to boil

Land value soars in Hunter Central Coast region as property market continues to boil

Total land values have soared in the Hunter and Central Coast region. In the year she has spent trying to secure a family home in Newcastle, Sally has missed out on multiple auctions and offers. "Homes are going $300,000 to $400,000 over guide," she said. "It's a really tough time to enter the...

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Rental affordability a ‘growing concern’ as prices skyrocket

Rental affordability a ‘growing concern’ as prices skyrocket

Rent prices have reached new highs, and experts warn the situation will get worse. It has never cost more to rent in Australia, with the average house rental price hitting a record high. Domain’s quarterly Rent Report found that house and unit rents had risen across all capital cities - r...

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‘Mayhem’: Hundreds of renters turn up to Sydney house inspection

‘Mayhem’: Hundreds of renters turn up to Sydney house inspection

About 100 people missed out on viewing the property.  Police have shut down a house inspection after hundreds of renters turned up, clogging the street, with a video capturing the “mayhem”. Hundreds of renters have turned up to a house inspection in Sydney’s southwest cau...

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Insane scenes at open inspection for Blue Mountains house

Insane scenes at open inspection for Blue Mountains house

One house that was only listed five days ago shows how desperate buyers are to get into the property market after skyrocketing prices. An insane photo shows how out of control the Sydney property market has become with a long line of people desperate to see a three-bedroom house that doesn&rsquo...

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Rents for houses surge, unit rents drop: tenant push for space creates two-speed market

Rents for houses surge, unit rents drop: tenant push for space creates two-speed market

Rental unit demand dropped over the last year. Tenants prioritizing space over accessibility during the Covid pandemic has driven up rents for houses, while unit rents have dropped, but this is set to change, a new report shows. Tenants prioritising space over accessibility during the Covid pan...

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Worst NSW suburbs to be a tenant: 20 markets where rental homes are nearly impossible to find

Worst NSW suburbs to be a tenant: 20 markets where rental homes are nearly impossible to find

Finding a vacant rental property in NSW has never been more difficult. Finding a vacant rental property in parts of NSW has never been harder than it is in 2022, and some suburbs are only offering three or less accommodation choices for tenants. New research commissioned by Well Home Loans reve...

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Newcastle house prices reach new high amid biggest growth since 1989

Newcastle house prices reach new high amid biggest growth since 1989

HOT PROPERTY: House prices surged in the Hunter in 2021. Newcastle and Lake Macquarie's median house price has shot to $860,000 following one of the region's biggest years of price growth. The Hunter Region was one of the nation's best performers in 2021, led by a 32.5 per cent annual rise for ...

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Planning restrictions, not investors pushing up prices: housing affordability chair

Planning restrictions, not investors pushing up prices: housing affordability chair

Liberal MP Jason Falinski, left: “One of the most destructive things going on at the moment is how much uncertainty there is from local government administration including charges.”  Planning restrictions and developer levies imposed by state and local governments that push up t...

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Temperature drop in Sydney property market at end of boom year

Temperature drop in Sydney property market at end of boom year

The Sydney real estate market is slowing After an incredible year for property prices in Sydney, the latest figures show signs that the market could be slowing down. Data from CoreLogic indicates there was a softening in the market in December as growth in Sydney was just 0.3 per cent. In 2021...

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Brisbane beats Sydney, Melbourne, with no sign of housing slowdown across South East Qld

Brisbane beats Sydney, Melbourne, with no sign of housing slowdown across South East Qld

Brisbane had the highest annual housing value growth of all mainland capitals in 2021 New data has found that Brisbane blitzed other capitals ending the year with the highest housing value growth on the mainland, with no sign of a slowdown in 2022 for the entire South East Queensland region. Co...

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Australia’s red hot housing market is showing signs of cooling as prices in Melbourne slow for the first time in 14 months

Australia’s red hot housing market is showing signs of cooling as prices in Melbourne slow for the first time in 14 months

Australia’s red hot housing market is showing signs of cooling as prices in Melbourne fall for the first time in 14 months.  House price growth in Sydney and Melbourne have slowed for the first time in 14 months. The top end of the market led the downswing through December across t...

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Panic rising as major home builders go bust despite a construction boom and soaring house prices

Panic rising as major home builders go bust despite a construction boom and soaring house prices

A number of major builders have gone bust in recent months despite a home construction boom. Alongside a house price boom, Australia is in the midst of a homebuilding boom, with the Housing Industry of Australia expecting a near-record number of new homes will be built over the next 12 months. ...

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Will the exodus from cities to the regions continue?

Will the exodus from cities to the regions continue?

For the better part of two years, the world has been in the grips of a once-in-a-generation crisis. But innovation is born of crises. Covid-19 has left very few parts of daily life untouched, especially when it comes to accelerated structural shifts across the workplace. A shift that played out...

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'A good sign for buyers': Clearance rates drop as more homes hit the market

'A good sign for buyers': Clearance rates drop as more homes hit the market

Price growth has already slowed as talks of interest rate hikes swirl, The property market's high tide could slowly be turning, agents say, as more homes hit the market, stricter stress tests on borrowing kick in, the RBA signals rate hikes earlier than expected and the end of lockdowns mean pot...

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Family who started investing while earning money serving snacks now own over 50 properties

Family who started investing while earning money serving snacks now own over 50 properties

The Linder family. A Western Sydney family have played the housing market using a mix of clever banking tricks and market forces to acquire more than 50 properties between them. Each of the members of the Linder family aged over 18 own property, with mum Kimberly and dad Jason owning 42 homes a...

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Childcare centres top shopping lists of small investors

Childcare centres top shopping lists of small investors

The Burgess Rawson auction in Melbourne was almost a sell-out as over $100 million of real estate changed hands. Private investor appetite for essential services real estate, especially childcare centres, medical properties, pharmacies and fast food outlets, lifted total sales across three days ...

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Property price discounts on the rise in most Australian capital cities as hot market shows signs of cooling

Property price discounts on the rise in most Australian capital cities as hot market shows signs of cooling

Home buyers moved to Brisbane to improve their lifestyle the survey showed. Home vendors are starting to offer discounts to secure a sale, new data shows, especially in Sydney and Melbourne where signs point to the super hot market beginning to cool. But as veterans of the longest lockdowns fle...

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Australia's regional property boom is a double-edged sword

Australia's regional property boom is a double-edged sword

Regional property markets are booming... but it's both good and bad news for locals. The COVID pandemic has had a significant impact on housing markets in regional Australia. It's been well documented that the ability to work remotely has given people more choice in how they live, and many have...

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NSW to ditch dark-coloured roofs to prevent heat islands

NSW to ditch dark-coloured roofs to prevent heat islands

Houses with dark roofs in Minto, south-western Sydney. Builders in NSW will stop constructing homes with dark-coloured roofs and will raise energy efficiency standards for houses, under plans outlined by Planning and Public Spaces Minister Rob Stokes on Wednesday. In an address that moved the f...

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Housing is expensive now, imagine a market with more migrants. Economists see rent, house price lift in 2023

Housing is expensive now, imagine a market with more migrants. Economists see rent, house price lift in 2023

Sid Lal has looked at hundreds of properties but says it's hard to find an affordable home in Sydney's hot market. (Daniel Irvine.) When Australia opens its borders to migrants, already skyrocketing house prices could rise further. While immigration is not the only factor influencing house pric...

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Real estate: Chinese homebuyers 'are getting picked on'

Real estate: Chinese homebuyers 'are getting picked on'

Monika Tu is the founder and director of Black Diamondz Property Concierge Wealthy Chinese homebuyers will flock to Australia next year despite the current trade issues with China, but the future beyond 2022 looks less optimistic, according to a prominent Sydney real estate entrepreneur. Monika...

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Property buyer FOMO eases as lockdowns end, more listings hit the market

Property buyer FOMO eases as lockdowns end, more listings hit the market

More homes have been listed as lockdowns end. Fear of missing out among potential property buyers is starting to ease as more homes are listed for sale this spring. But buyers hoping to pick up a bargain might have another think coming, with bullish prices still being achieved for the most sough...

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The Sydney suburbs where buyers are at biggest risk of overpaying for property

The Sydney suburbs where buyers are at biggest risk of overpaying for property

South Maroubra has been highlighted as an area where buyers are at risk of overpaying. Buyers in Sydney's most hotly-contested suburbs are at extreme risk of overpaying for property as fierce competition drives price growth to record highs. Pete Wargent, co-founder of property buyer's agents Bu...

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Melbourne housing affordability plummets, women hit hardest

Melbourne housing affordability plummets, women hit hardest

Auctioneer Josh Stirling accepts bids on a property in Mozart St, St Kilda on Sunday November 2021. The price of a typical house in Melbourne has multiplied by 22 in the past 40 years, almost three times faster than wages, with advocates warning that women were bearing the brunt of the affordabi...

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Iconic Wangi Power Station primed for development with mega listing

Iconic Wangi Power Station primed for development with mega listing

The Wangi Power Station is set to fetch about $30 million. An iconic power station near Newcastle abandoned for more than 30 years is on the market expectations of a big sale price. Situated on a mostly undeveloped 22.3ha parcel, Wangi Power Station is being offered to developers via an express...

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Sydney median price jumps 1.5 per cent to $1.333 million as market begins to slow

Sydney median price jumps 1.5 per cent to $1.333 million as market begins to slow

Buyers are still out in force for property. Sydney's housing boom is easing with property prices rising at their slowest rate since January as affordability concerns grow and lending tightens. CoreLogic's October home values index revealed dwelling values jumped 1.5 per cent over the month. Whi...

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'Absolutely thumping' market: Laundy family snaps up Central Coast pub for $38m

'Absolutely thumping' market: Laundy family snaps up Central Coast pub for $38m

Publicans Arthur and Stuart Laundy have purchased the Bayview Hotel on the Brisbane Waters harbour front in Woy Woy on the NSW Central Coast  Veteran pub owner Arthur and his son Stuart Laundy have swooped on for the historic Bayview Hotel at Woy Woy on the NSW Central Coast paying a record...

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Sydney property bubble at risk of bursting, new report finds

Sydney property bubble at risk of bursting, new report finds

Sydney wasn't far off from the red zone. A new global report has singled out an Australian city as being "under the spell of a dangerous narrative" with property prices at risk of a sudden collapse. A new global report has singled out Sydney's property market as being "overvalued" and on the br...

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Sydney couple resell townhouse nine weeks after buying it for $600,000 more than they paid

Sydney couple resell townhouse nine weeks after buying it for $600,000 more than they paid

Roger Wardy said the sellers had thought they overpaid. A Sydney couple has lucked into the real estate deal of a lifetime thanks to the insane rate at which property prices are climbing. The couple recently resold a Kensington house they bought only nine weeks ago for $600,000 more than the pr...

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Low interest rates aren't enough for first time buyers

Low interest rates aren't enough for first time buyers

Despite the RBA cash rate sitting at a record low 0.1 per cent, in the past year the 'Time to buy a dwelling index' has plummeted. For more than half a century the 'Great Australian Dream' has been owning a home on a quarter acre block and pretty much the entire list of features included in the ...

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The Sydney suburbs with big gaps between house and unit rents

The Sydney suburbs with big gaps between house and unit rents

Bronte is one of several Sydney suburbs where the gap between house and unit rents has stretched to more than $1200. Sydney tenants are facing a record price gap between house and unit rents, with free-standing homes in dozens of suburbs now leasing for double the cost of an apartment. Renters ...

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Australian house prices to rise 22% this year and then ease off, economists say

Australian house prices to rise 22% this year and then ease off, economists say

Economists say house prices will surge by 22% in 2021, but predict prices will rise by only 8% next year and then decline by 8% in 2023. Westpac upgrades 2021 forecast, with the biggest gains expected in Sydney, up 27%, spurred on by low interest rates during the pandemic House prices will have...

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Pallas Courts Build-to-Rent with Tax Relief Sweetener

Pallas Courts Build-to-Rent with Tax Relief Sweetener

Build-to-rent developments will be exempted from absentee owner surcharges for up to 30 years under changes unveiled by the Victorian government in an effort to bolster the burgeoning sector. It also announced that build-to-rent projects completed and operational before 2032 would be eligible fo...

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'No trust': Buyers of defective units in Parramatta vent their anger

'No trust': Buyers of defective units in Parramatta vent their anger

Orders were first issued to the developer of the twin Parramatta towers in June after serious defects were found. Buyers of apartments in two 22-storey Parramatta towers found to have serious defects say they are trapped in a nightmare, with some no longer able to get loans from banks to settle ...

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Bondi semi bought for $2.7m two years ago sells for $6,225,000

Bondi semi bought for $2.7m two years ago sells for $6,225,000

Chloe Matters in her new kitchen. Interior designer Chloe Matters has doubled her money on a Bondi semi bought for $2.7m just two years ago - even allowing for her lavish renovation. Her home at 30 Denham St has sold for a mind-blowing $6,225,000 - $3,525,000 more than she bought it for on Octo...

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'Massive toll': Sydney apartment buyers languishing years after paying deposits

'Massive toll': Sydney apartment buyers languishing years after paying deposits

Kim Morris has been forced to spend a large part of the last four years renting due to repeated delays to the Bellevue Hill apartment complex. More than four years after paying a deposit, Sydney woman Kim Morris has no idea when she can move into an apartment she bought off the plan. "The worst...

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Central Coast property: Blue Bay knockdown sells for shock price $308k above reserve

Central Coast property: Blue Bay knockdown sells for shock price $308k above reserve

No. 19 Currawong St, Blue Bay, sold for $2.508 million at auction. A Blue Bay knockdown has sold for nearly $1 million above the suburb's median house price as the Central Coast market shows no sign of slowing. The two-storey brick house on a prized 695sqm Currawong St block sold at auction for...

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Buyer demand for commercial property surges as investors search for income

Buyer demand for commercial property surges as investors search for income

With house prices rising and the cost of debt at an all time low, investors are now taking a closer look at commercial property due to the higher returns on offer. The number of people and businesses looking to buy commercial property on realcommercial.com.au has surged over the past year, far o...

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'BE CAUTIOUS': Australia's 10 'danger zone' suburbs

'BE CAUTIOUS': Australia's 10 'danger zone' suburbs

Property buyers looking to snap up a unit should avoid these areas, particularly in Sydney and Melbourne. Australian home buyers and investors have been warned to avoid certain suburbs in Australia, particularly in Sydney and Melbourne, which are at high risk of being oversupplied with thousands...

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Australia's property prices will continue to rise with no bubble to burst, expert says

Australia's property prices will continue to rise with no bubble to burst, expert says

EG Advisory managing director Shane Geha says there may not be any housing bubble to pop. Frustrated house hunters holding out for a property bubble to burst could be waiting a long time, according to an industry insider who warns there is no price balloon to pop. In fact, not only will there b...

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Lending restrictions could hit property investors

Lending restrictions could hit property investors

APRA may impose lending restrictions to curb runaway property prices. Property investors are likely to find it harder to obtain the big mortgages often required to buy free-standing homes after regulators signalled they would likely act to tighten lending rules. The Council of Financial Regulat...

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Home buyer caught in $100,000 bank scam hits out at 'dismissive' NAB

Home buyer caught in $100,000 bank scam hits out at 'dismissive' NAB

Sanjay Joseph says NAB needs to live its 'know your customer' processes to prevent financial crime. Sanjay Joseph had just bought a property in Sydney's North Kellyville when he received an email from what appeared to be his conveyancer asking him to transfer almost $100,000 to complete the purc...

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Australia's house price boom: what's happening and how can it be brought under control?

Australia's house price boom: what's happening and how can it be brought under control?

Australia's booming house prices are being driven by record low interest rates and increased household savings during the pandemic, but wage growth remains very sluggish. The property frenzy is locking young people out of the market and creating economic risks. Will anything stop it? Australian...

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'Out of control' stamp duty bracket creep is hurting listings and housing affordability: REIA, SQM Research

'Out of control' stamp duty bracket creep is hurting listings and housing affordability: REIA, SQM Research

Property taxes are slashing listings and hurting affordability, a new report claims. Australian stamp duty costs are "completely out of control" as 'bracket creep' is slashing the number of homes for sale and fuelling affordability issues, property experts claim. A new report by the Real Estate...

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House price growth to slow, one way or another

House price growth to slow, one way or another

Lending restrictions are likely to be the best way to significantly slow the boom in prices. The madness of rising house prices cannot be allowed go on. Apart from higher prices making it harder for our kids to get into the property market, there is the broader impact on the economy. Ever bigge...

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CBA CEO 'increasingly concerned' with rising housing prices

CBA CEO 'increasingly concerned' with rising housing prices

CBA said loan applications had held up despite lockdowns. The chief executive of Australia's largest lender says financial regulators should act 'sooner rather than later' as property prices and loan commitments surge. Addressing a parliamentary economics committee, Commonwealth Bank CEO Matt C...

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Soaring housing debt a financial risk: Reserve Bank

Soaring housing debt a financial risk: Reserve Bank

Growing house prices could pose a risk to the financial system if home buyers become too over-indebted. Spiralling household debt tied to the nation's soaring property prices could pose a risk to the financial system, the Reserve Bank has cautioned as home values across capital cities continue t...

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Mortgage stress soars as RBA says tax system pushes up house prices

Mortgage stress soars as RBA says tax system pushes up house prices

More than two in five households are now in financial stress due to soaring house prices and mortgages. Mortgage stress is spiking across key suburban electorates in Sydney and Melbourne despite record low interest rates as spiralling property prices leave two in five households struggling to ma...

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Climate change to deliver suburban house price pain: RBA

Climate change to deliver suburban house price pain: RBA

A storm rolls into Cronulla beach, where Reserve Bank research shows climate change could increase the cost of property insurance. Climate change could cut property prices across a swath of Sydney's northern suburbs from Lane Cove to Ku-ring-gai, with Reserve Bank analysis showing many homeowner...

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RBA says surging house prices are a government problem

RBA says surging house prices are a government problem

Australian Bureau of Statistics data showed a 6.7 per cent jump in the June quarter in its measure of house prices. The Reserve Bank has urged governments to deal with tax and social security policies to bring surging house prices under control after new figures showed the biggest jump in nation...

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Perth house values climb $260 a day amid fears of living standard hit

Perth house values climb $260 a day amid fears of living standard hit

The average new mortgage to buy an established house in WA has soared by almost $50,000 in two years amid a nationwide glut of home lending. The rapid increase has raised fears our obsession with pumping money into real estate may hurt Australia's long-term living standards. As Perth's median h...

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Can't afford the repayments: Sydney postcodes where homeowners have 'unsustainable' debt

Can't afford the repayments: Sydney postcodes where homeowners have 'unsustainable' debt

Akram Zaki, with wife Zel and 17-month-old son Ezra, saved big when they refinanced their Blacktown home. Homeowners in much of Sydney cannot afford their mortgages and would be in financial trouble if there was a rapid rise in interest rates. That's the finding of new economic modelling, which...

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Australia's most expensive LGAs: Sydney's Northern Beaches worth more than Hobart and Canberra combined

Australia's most expensive LGAs: Sydney's Northern Beaches worth more than Hobart and Canberra combined

Sydney's affluent Northern Beaches Council area is worth more than the collective value of both Canberra and Hobart. One of Sydney's 12 local government areas is home to such pricey property that the total value of residential real estate within its boundaries is worth more than all the dwelling...

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Australian real estate: How Alex Veljancevski built his eight-property portfolio at just 31

Australian real estate: How Alex Veljancevski built his eight-property portfolio at just 31

The Sydneysider purchased his first place at age 19 while at university and now has eight properties, including one worth $1.9 million. Alex Veljancevski purchased his first home at just age 19 and has gone on to build a property portfolio worth $5.2 million,which recently allowed him to buy his...

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What the median house price gets you in Australia's most expensive suburbs

What the median house price gets you in Australia's most expensive suburbs

A multimillion-dollar budget may not go as far as you think in the top-priced suburbs. When it comes to buying a house in some of the nation’s most expensive suburbs, a multimillion-dollar budget may not stretch as far as you think. That glamorous waterfront mansion you dream of buying wh...

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Housing big spenders fear going bust when interest rates rise

Monthly mortgage repayments now chew up 42 per cent of after-tax income in Brisbane. More than half of homeowners are concerned about interest rates increasing in the near future, with 15 per cent fearing they will be unable to make their repayments. And those fears are felt most acutely by hou...

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Australians save $60 billion a year on overseas travel, spend part of it on buying property

Australians save $60 billion a year on overseas travel, spend part of it on buying property

Buyers are using savings from cancelled holidays to buy holiday homes. Australians have saved some $60 billion a year in cancelled overseas travel because of the pandemic, figures show, with part of that cash flowing into the property market. Buyers lucky enough to keep their jobs have been tak...

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Housing market in 'tricky territory', warns Westpac

Housing market in 'tricky territory', warns Westpac

Westpac senior economist Matthew Hassan said the Aussie property market is stuck in a tricky situation. Australia's housing markets are entering very tricky territory as the return of COVID-19 lockdowns yet again disrupt activity and price momentum in major markets, Westpac said. This, combined...

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Developer fees adding up to $85,000 a block, driving up housing prices

Developer fees adding up to $85,000 a block, driving up housing prices

Developer fees are adding up to $85,000 to new house prices, with doubts they are going into essential local infrastructure. Developers are paying up to $85,000 for every housing block they put on the market, with research showing the fees are driving up property prices and in some cases aren't ...

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Lockdowns hit property auction clearance rates

Lockdowns hit property auction clearance rates

Properties are being withdrawn from auction, but prices tipped to keep rising, but a slower rate. Ongoing lockdowns in Sydney and Melbourne have hit property auctions in our two biggest cities, but most experts do not expect to see an end to the prolonged boom any time soon, though price rises a...

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Weaker demand, higher stock to slow house price growth

Weaker demand, higher stock to slow house price growth

House price growth is set to slow further in the months ahead as affordability worsens. The unparalleled growth in home prices over the past year is expected to slow further, with the pool of buyers not deep enough to absorb the amount of stock sellers are likely to unleash once the lockdowns en...

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Housing affordability worsens most in wealthy areas

Housing affordability worsens most in wealthy areas

Average home buyers in Pittwater, in Sydney's northern beaches, now need 93 per cent of their household income to afford a mortgage, according to CoreLogic. Housing affordability has deteriorated the most across the Pittwater area in Sydney's northern beaches, with the proportion of income neede...

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Southern developers make a beeline for the Gold Coast

Southern developers make a beeline for the Gold Coast

Palm Beach has become a hotspot for interstate developers. A raft of Sydney and Melbourne developers are snatching up landholdings along the Gold Coast's middle and southern beaches, as demand for high-end apartments in the region grows. With 12,000 Victorians and 18,000 Sydney-siders last year...

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First home buyers: how 26yo public housing resident bought three properties

First home buyers: how 26yo public housing resident bought three properties

After intensively saving from the age of 15, Ms Tran was able to buy her first home at 24. Growing up in public housing, Linda Tran started saving to buy a property at the age of 15. But she admits her strategy might not be for everyone. Starting at the age of 15, Sydney woman Linda Tran saved ...

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What the median house price gets you in Australia's most expensive suburbs

What the median house price gets you in Australia's most expensive suburbs

A multimillion-dollar budget may not go as far as you think in the top-priced suburbs. When it comes to buying a house in some of the nation's most expensive suburbs, a multimillion-dollar budget may not stretch as far as you think. That glamorous waterfront mansion you dream of buying when you...

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Fury at developers as homes on Gold Coast street begin "sliding towards neighbours'

Fury at developers as homes on Gold Coast street begin "sliding towards neighbours'

Homes in the Stockland Riverstone Crossing development in the Gold Coast are fenced off after what residents say was a completely preventable landslip. Families have labelled a developer "big fat liars" after newly built homes began splitting in half and sliding towards their neighbours. Reside...

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Price Pressures, Labor Shortages Rein in Construction Activity

Building costs are rising at a faster rate than inflation as construction demand continues to outstrip supply for both labour and materials. Despite billions of dollars' worth of stimulus being poured into housing and construction, activity will continue to decline due to the pandemic. Global s...

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Greater Sydney has 'housing supply crisis' as report warns prices will continue to surge

Greater Sydney has 'housing supply crisis' as report warns prices will continue to surge

A report says there is a housing "supply crisis" in NSW. Greater Sydney's eye-watering house prices have surged this year with a new report warning there will be more rises on the way. The Urban Development Institute of Australia (UDIA) released a report today which claimed the NSW government h...

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APRA warns of housing market risk

APRA warns of housing market risk

Australia's banking regulator says the state of the housing market could pose a risk to the economy. Australia's banking regulator doesn't know if the housing market looks risky but can't say whether its in a bubble. The head of the banking regulator says the current state of the housing market...

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The hidden services that could cost you when you're buying a home

The hidden services that could cost you when you're buying a home

Buying a home? There are plenty of financial factors beyond the mortgage. From solicitors and pest inspectors, to buyer's agents and brokers, if you're looking to buy a home, you're bound to make a bunch of acquaintances. The thing is, many of your new-found friends come at a cost. And - most o...

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First-home buyers dropping out of the property market as investors return, new data shows

First-home buyers dropping out of the property market as investors return, new data shows

First-home buyers are dropping back from their 2020 boom levels. First-home buyers are getting crowded out of the hot property market by stiff competition from investors, downsizers and buyers in between. The value of loans to first-time buyers dropped 7.8 per cent in the month of June, ABS fig...

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Houses earning more than Australia's highest paid professionals

Houses earning more than Australia's highest paid professionals

Home owners are out-earning some of Australia's top professionals, with rapid price growth seeing house values climb by more than $1000 per day in some cities. Houses are out-earning some of Australia's top-paid professionals, with price growth in some cities outstripping the income of surgeons,...

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Lockdowns spark city exodus as thousands head to the hills

Lockdowns spark city exodus as thousands head to the hills

Since the start of the pandemic, a net 24,500 people have left Sydney for other parts of NSW. In total, almost 40,000 have moved out of Sydney since the pandemic started, with more than 10 per cent making the move to Brisbane.. But there are signs of change. In the first three months of this yea...

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Regional house price growth in Australian towns reaches dizzying new heights

Regional house price growth in Australian towns reaches dizzying new heights

House prices in Australia's most popular regional towns have continued their phenomenal run of growth. Regional Australia is continuing its dizzying house price growth, with a jump of 4.5 per cent this last quarter alone, and a spectacular 12.5 per cent rise over the past year, latest figures sh...

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Homebuyers forced to go to extremes to get land in Sydney’s southwest as report reveals block "shortage"

Homebuyers forced to go to extremes to get land in Sydney’s southwest as report reveals block "shortage"

Michael and Deanna Parzakonis bought a block of land in the Mirvac estate The Village in Menangle after their name was drawn out of a ballot. Homebuyers have been forced to jump through hoops or play a form of Lotto to get blocks in new estates in Sydney's southwest amid a crippling land shortag...

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Sydney house prices: The COVID-19 effect sees lifestyle locations soar up to 38.7 per cent in a year

Sydney house prices: The COVID-19 effect sees lifestyle locations soar up to 38.7 per cent in a year

Peter Harvey and Kylie Storen recently traded their Fairlight house for a Manly semi to live closer to the beach. He says he was spurred on by lockdowns and the rise of working from home. Sydneysiders are paying a pretty penny for big homes near parks and beaches as home owners place more value ...

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John McGrath - Investors replacing first home buyers

John McGrath - Investors replacing first home buyers

Investor activity across Australia has soared in recent months, with the highest amount borrowed to buy investment properties since mid-2015, however, John McGrath founder and executive director of McGrath Estate Agents cautions investors not to overextend for fear of missing out. Investor activ...

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Sydney investors bet big on Orange

The Orange community will shortly welcome the city's newest main street hotel development with a commercial value of over $35 million to the local economy. The proposed development, features a 4 star 98-room international hotel, a family focused bar and brasserie, outdoor cinema and pool, alfres...

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New Queensland town will be built to accommodate thousands of Australians priced out of the Sydney and Melbourne markets

New Queensland town will be built to accommodate thousands of Australians priced out of the Sydney and Melbourne markets

'Shoreline' at Southern Redland Bay, 43km south-east of Brisbane, will see 3000 homes housing more than 10,000 people The new development will offer 3000 new homes for up to 10,000 people 'Shoreline' will cover 243 hectares at Southern Redland Bay south of Brisbane It follows the announcement ...

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Farm labourer who dropped out of school uses cunning strategy to buy 26 properties worth $9.5m

Farm labourer who dropped out of school uses cunning strategy to buy 26 properties worth $9.5m

Investor Sam Gordon quit his job at 28 and used the rental income from his properties to travel the world. High school dropout turned real estate investor Sam Gordon owns so many properties he often needs a minute or two to remember exactly where they are. At 31 , the Southern Highlands native ...

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Why buying an apartment for investment is a bad idea despite Australia's booming property market

Why buying an apartment for investment is a bad idea despite Australia's booming property market

Apartments are in oversupply in suburbs where house prices are booming Rental vacancy rates are also higher than average in suburbs near universities  Belle Property Ryde principal Phillip Allison conceded unit oversupply issue  Moody's Investors Service issued a warning about credit...

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‘Biggest boom ever’: Sydney suburbs where home prices could skyrocket even more

‘Biggest boom ever’: Sydney suburbs where home prices could skyrocket even more

Phil and Vanessa Machin, with daughter Chloe, bought in the red hot northern beaches market. Sydney's explosion in house prices is on track to become our biggest ever property boom, with prices set to continue rising in every city region this year. New sales analysis showed there were 140 subur...

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Buyers struggle to get hold of accurate price guides in hot Sydney market

Buyers struggle to get hold of accurate price guides in hot Sydney market

Recent buyer Melissa Steckler said price guides were "laughable" as she quickly realised she was regularly underquoted. Desperate Sydney buyers are facing the near-impossible task of finding homes they can afford as increasingly inaccurate price guides are throwing many off course in the hottest...

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Why now might be the time to invest in the property market

Why now might be the time to invest in the property market

A shortage of rental accommodation, multiple applications per property and rising rents are proof that Australia's rental market is undersupplied, with predictions the country could soon see the "biggest rent increases in living memory". Propertyology head of research Simon Pressley said the pro...

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Canberra now Australia’s second most expensive property market

Canberra is now Australia's second most expensive property market, overtaking Melbourne. New data from property research firm CoreLogic shows Canberra now carries a median value of $672,866, overtaking Melbourne which sits at a close $672,172. Sydney remains the most expensive property market i...

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How the Australian property market avoided a crash in 2020

Australia headed to its first recession in over 28 years, but no drastic decline was seen in the housing market. Here's how the property market managed to handle the downturn. 2020 has seen devastation across a number of sectors, with wages down by 4.3 per cent and payroll jobs decreasing by 3.0...

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Sydney auctions: demand for multi-generational living pushes up prices for prized homes

Sydney auctions: demand for multi-generational living pushes up prices for prized homes

Two generations of a Caringbah South family joined forces to beat stiff competition at auction for their neighbour’s house with water views. The family paid $1.897m for the Cumbee Lane house with views of the Port Hacking waterway and Royal National Park, beating “spirited&...

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Sydney apartment buyers pay 68pc premium

People in Sydney pay 68 per cent more for apartments than they cost to build, a gap the Reserve Bank says indicates a shortage of properties. RBA staffers Keaton Jenner and Peter Tulip said planning restrictions have created the shortage which is most acute in the eastern suburbs, Leichhardt and...

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Coronation Makes $293m Build-To-Rent Plans

Coronation Property are moving forward with plans to build 790 build-to-rent apartments in western Sydney’s Merrylands at an estimated cost of $293 million. The developer lodged an application for the site at 52-54 McFarlane Street next to the Stockland Merrylands Shopping Centre. The pla...

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The best places to buy a property in Sydney for less than $700k

Western Sydney is full of affordable housing options. In a property market as diverse as Sydney, $700,000 is going to buy you very little in some parts while in other locations it can still mean a good quality home or investment. There was “a rich and varied tapestry of property o...

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Construction to begin on $11 billion Western Sydney airport metro line

Construction will begin this year on a metro line linking the new Western Sydney airport and St Marys railway station, after a $5.25 billion injection from the Federal Government announced today. Two new metro stations will also be built at Luddenham and Orchard Hills as part of th...

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Alex Avenue new primary school

We are building a new school in Schofields to support the growing community.  The new school will accommodate 500 students and allow growth in the future for 1,000 students. The benefits Flexible teaching spaces. New administration and staff areas. New hall. New libra...

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New South Wales isn't building nearly enough houses for the future – and it means prices can only keep soaring

New South Wales isn't building nearly enough houses for the future – and it means prices can only keep soaring

Sydney’s property bounce may have a whole lot more in it. The suggestion comes as the latest New South Wales building approval numbers reveal the state isn’t building anywhere near enough houses to satisfy demand. Property developer group Urban Taskforce said it s...

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Growing concerns as markets set to surge in 2020

Home values in Australia's biggest cities are on course to record up to 14 per cent growth in 2020 as low mortgage rates and easier lending standards unleash buyer demand. But analysts warn worsening housing affordability and more homes on the market could cut the bull run...

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Rampant growth in Sydney, Melbourne runs out of steam

After staging stronger-than-expected price rises in the past three months, the rate of growth in Sydney and Melbourne markets eased as the year ended, with the amount of listings and the dint in affordability deterring price-sensitive buyers. In the lead up to CoreLogic's Home Value Index offici...

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Sydney’s moment of truth

Adozen cranes branch into the sky where tenants Bri Voto and Jason Martin look out from their front porch. Their yard spills onto an empty block that touches James Ruse Drive, near where the highway crosses the Parramatta River. A plank forms a makeshift bridge over the railway at Camellia statio...

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Premium homes in Sydney to outperform in 2020

Premium homes in Sydney to outperform in 2020

Sydney's premium market is poised to grow by 4 per cent in 2020, while Melbourne is set to rise by 3 per cent – trumping Vancouver, New York and Dubai – amid growing confidence bolstered by lower interest rates and limited supply pipeline, the Knight Frank Prime Global Forecast 2020 s...

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Reshaping the 'boomburgs': Minister takes on challenge of managing Sydney's urban sprawl

In the next 17 years, Sydney's population is expected to grow by 1.5 million people, a large percentage of whom will pour into the south-west growth corridor.   This has communities like Wilton, which are outside the boundaries of metropolitan Sydney, concerned that their semi-rural li...

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Parramatta high-rise towers to make Sydney Australia's first two-CBD city

Parramatta high-rise towers to make Sydney Australia's first two-CBD city

The cranes rising in the air above Parramatta are set to give way to towers up to 67 storeys over the next decade as the skyline of Sydney's fast-growing second CBD continues to take shape. The City of Parramatta Council, which is overseeing an unprecedented wave of public and private investment...

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Opal Tower unit owners launch multi-million-dollar class action against NSW State Government

Owners of units in Sydney's Opal Tower are seeking millions of dollars in compensation from the State Government in a class-action lawsuit. Owners of units in Sydney’s Opal Tower are seeking millions of dollars in compensation from the State Government in a class-action lawsuit. In do...

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Shayher Group Returns to Sydney With $63.6m Ashfield Buy

Shayher Group has picked up two campus-style office buildings in Sydney’s inner west less than a month after its near-$100 million acquisition of the historic Bulimba Barracks site in Brisbane. The Taiwanese-backed developer secured the two buildings at 2-6 Cavill Avenue in Ash...

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The Sydney suburbs bearing the brunt of a 20-year population boom

Five of Sydney's 15 major regions are bearing the brunt of the population boom, having absorbed well over half of the city's growth during the past two decades. Five of Sydney’s 15 major regions are bearing the brunt of the population boom, having absorbed well over half of the city&...

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Looking towards 2036:- 60,300 new dwellings proposed for the Greater Newcastle,including Maitland,Lake Macquarie and Newcastle

East Maitland will be one of the Hunter’s ‘catalyst areas’ in the next 20 years, setting targets for 1750 extra jobs, 550 extra homes and improved transport connections between Green Hills shopping centre and new hospital site.   East Maitland will be one of t...

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Looking towards 2036- 60,300 new dwellings proposed for the Greater Newcastle,including Maitland,Lake Macquarie and Newcastle

East Maitland will be one of the Hunter’s ‘catalyst areas’ in the next 20 years, setting targets for 1750 extra jobs, 550 extra homes and improved transport connections between Green Hills shopping centre and new hospital site.   East Maitland will be one of t...

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NSW funds defence precinct near Williamtown

The new ‘Astra Aerolab’ will house maintenance and support services for Australian fighter jets The NSW government has announced $11.7 million in funding to create a defence, aviation, aerospace and technology precinct in the Hunter region. NSW Deputy Premier John Barilaro mad...

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Development Application to be lodged for 5 Parramatta Square

City of Parramatta Council is one step closer to the construction of 5 Parramatta Square, the City’s new civic, cultural and community building, after it received endorsement from the Council to lodge a Development Application (DA) for the building. City of Parramatta Council is one step...

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Sydney home prices grow again for second consecutive month

Sydney home values have grown again for the second month in a row after falling for nearly two years. The median price of all dwellings, including units, townhouses and houses, increased 0.2 per cent over July, CoreLogic’s latest home value index showed. This was an improvement on the 0.1...

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Fourth Sydney Apartment Block Abandoned

A fourth Sydney unit block has been abandoned after the developer failed to undertake adequate remediation of the site — building 127 apartments and townhouses on contaminated ground. A fourth Sydney unit block has been abandoned after the developer failed to undertake adequate rem...

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Sydney property prices to rise by end of 2019, analysts predict

Leading property analysts believe the Sydney market will bottom out by spring and hit positive territory by the end of the year, on the back of a "confidence boost" from the Coalition's surprise election victory. Leading property analysts believe the Sydney market will bottom out by spring and...

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Greater Sydney Housing Supply Forecast: 191,550 New Homes by 2023

Construction of 191,550 new homes in Greater Sydney is forecast in the next five years, a 22 per cent increase, or an extra 34,300 new homes, with Parramatta anticipated to become home to a vast majority of them. Construction of 191,550 new homes in Greater Sydney is forecast in the ne...

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Regional Australia is big winner in the Federal Budget

There was very little directly related to housing in this year’s Federal Budget, however regional Australia is the clear winner. There was very little directly related to housing in this year’s Federal Budget, however regional Australia is the clear winner.   More sp...

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Sydney Rental Vacancy Rate Surges

Sydney's rental vacancy rate has lifted to 3.4 per cent in April with nearly 8,000 homes across the city emptying over the past year. Sydney’s rental vacancy rate has lifted to 3.4 per cent in April with nearly 8,000 homes across the city emptying over the past year. Data released by SQ...

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Green light for $650 million Sydney's Cockle Bay project

$649 million redevelopment in Sydney’s Cockle Bay, announced more than three years ago but left up in the air due to overshadowing concerns, has been given the green light by the state’s independent planning commission. A $649 million redevelopment in Sydney’s Cockle Bay, a...

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Australia’s Population Becoming More Diverse

Migration data which was recently released by the ABS showed that as of June 2018, an estimated 17,650,130 residents of Australia were born in Australia. Migration data which was recently released by the ABS showed that as of June 2018, an estimated 17,650,130 residents of Australia were bor...

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Rents Across Australia Rise Over The First Quarter Of 2019

The first CoreLogic Quarterly Rental Review for 2019, which tracks median rents and rental yields across Australia, shows that national weekly rents have risen by 1 per cent during the first three months of the year. “This seasonally strong first quarter has delivered the highest incre...

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Macquarie Park to get new $750m business district

A new commercial development at Macquarie Park has been labelled “Australia’s first community business district” by the developers who will commit $750 million to the project. A new commercial development labelled “Australia’s first community business district&r...

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NSW GOVERNMENT EYES NEW HOME FOR 4000 OFFICE WORKERS IN PARRAMATTA

The government’s property management agency, Property NSW, is calling for expressions of interest to lease office space for more than 4000 staff from 2022.   The NSW Government is on the hunt for up to 45,000 square metres of new office space in Parramatta. The gover...

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Sydney residents move out as city depends on migrants for growth

Thousands of Sydneysiders are leaving their home suburbs for other parts of the city and the state with new figures revealing a slowdown in the capital's runaway population growth.Australian Bureau of Statistics data showed the Greater Sydney area added 93,411 residents through 2017-18, taking th...

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NSW Government to crack down on dodgy building certifiers following Opal Tower saga

The NSW Government has announced a crackdown on dodgy building certifiers as it tries to manage the fallout from Sydney's Opal Tower fiasco.   Key points: Up to 30 per cent of certification work will be audited in NSW every year Corrupt certifiers or those who have negligently si...

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A Fast Rail Future for NSW

The NSW Government has a vision for vibrant and growing regional economies, providing NSW residents with more jobs, greater opportunities and better quality of life. Vision Many of our state’s regional areas have room to grow and are keen to draw in more investment, ...

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Buying off-the-plan turns into a nightmare for Surry Hills couple

Apartment buyer Tom Christensen, 31, said buying a Sydney unit off-the-plan has left him “scarred”. He and his partner bought the inner city property four years ago for $1.65 million and despite being contracted to be completed in 2015 it was only finished this year. “If we&rs...

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Vacancy rate creeps back up in Sydney, down in regional NSW

Vacancy rates are starting to rise back after last month’s decline, new data shows The October 2018 edition of the REINSW Vacancy Rate Survey showed metropolitan Sydney vacancy rates were down 0.1 of a percentage point over the month to 2.1 per cent. Leanne Pilkington, presi...

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Developer Proposes ‘New Age’ Boarding House for Parramatta

NSW-based developer Revelop Holdings have lodged a proposal with the City of Parramatta for an eight-storey boarding house. Designed by PBD Architects, Revelop have committed around $5 million to the project the site located at 109A Wigram Street, Harris Park – 30 kilometres from Sydney&...

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Multi-storey boarding house plan to boost affordable homes in Wollongong CBD

Housing affordability for low income workers in Wollongong has become a “serious and growing problem”, prompting a developer to pitch a plan to build what would become the city’s largest boarding house. Earmarked for the western edge of Wollongong’...

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Three 'new-generation' boarding houses planned for residential areas

The Sydney developer behind a $1.9 million boarding house complex planned for McLachlan Street has revealed he has two more proposed for Orange. Greg Kings said he would be developing a ‘boutique’ 14-room complex at 48 Molong Street and a larger “no more than 24 r...

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Wollongong boarding house in the centre of the city

An iconic property in Smith Street Wollongong that has operated as a boarding house for more than 30 years, will be auctioned next month.   The property at 65 Smith Street, is recognisable for the beautiful original home with a wrap-around verandah that sits beh...

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Two boarding houses have been approved in Campbelltown

Two boarding houses in Campbelltown have been approved by council last night but councillors have warned they don’t want to see the area flooded with the high-density accommodation. A nine-bedroom boarding house was approved for 1 Bocking Ave, Bradbury while a 15-bedroom boarding house...

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Aerotropolis: Gigabit city to create 12,000 jobs and 3000 homes in western Sydney

THE Western Sydney Aerotropolis officially lifts off today with the turning of the first sod on a $5 billion Sydney Science Park that will deliver 12,000 jobs and 3000 homes. The futuristic science park on a 280ha site at Luddenham is the first major development off the back of Sydney’s pl...

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NSW Government Plans $386m Development at Tallawong Station

The NSW government’s land and property development arm, Landcom, has unveiled plans for a $390 million development for 1,100 homes adjacent to the new Tallawong Metro Station. The precinct, which will stretch across 7.8 hectares, will include 85,000sq m of residential development and 900...

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GPT, AMP and Brookfield Revise $1 Billion Darling Harbour Proposal

A joint proposal by GPT, Brookfield and AMP for the $1 billion redevelopment of Sydney’s Cockle Bay Wharf has undergone another set of revisions in plans submitted to the NSW government earlier this month. The consortium’s ambitious plans for a waterfront precinct, originally formula...

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Parramatta Set to Receive Two New Hotel Skyscrapers

Parramatta’s rapidly growing CBD is set to get even busier with hundreds of new hotel rooms set to come online by 2020. Two major hotel developments have been given the green light this month by the City of Parramatta, the 300-room Starwood Four Points by Sheraton and the ...

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Parramatta’s $1bn Light Rail Set to Begin Construction

Parramatta’s Light Rail is scheduled to commence stage one of construction by the end of 2018 after receiving planning approval. The first stage of the Light Rail plan, a two-way track which will span 12 kilometres, will connect the Westmead health precinct to Carlingford via Parramatta ...

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Sydney needs to better plan for coming population boom, more dense housing: new report

SYDNEYSIDERS are wasting almost twice as much time commuting as their counterparts in big cities in countries such as Spain. A landmark new report also reveals how our city is “losing talent and skills” because of the “severe” shortage of affordable housing and lack...

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Owners on narrow blocks set to benefit under NSW government changes to housing code

Owners of small, narrow properties who never thought their blocks were suitable for development are set to benefit under new statewide planning laws designed to fast-track medium-density housing in NSW. Under the new medium-density housing code announced last week, duplexes, terraces and ...

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Campbelltown’s population set to boom over next 30 years

CAMPBELLTOWN is set to more than double in size over the next 30 years with a radical new plan to be unveiled today providing a blueprint for how its residents will live and work in the city in the years to come. An extra 500,000 residents are expected to move into the area within three decade...

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Sydney needs more boarding houses

  I was a town planner at the former City of South Sydney in the mid-nineties when brothels became legal. Brothel operators could apply to legalise brothels that had been operating for decades. I remember someone objecting to a “proposed” brothel in East Sydney, saying it ...

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