Latest news with #AnneFlaherty
News.com.au
16-07-2025
- Business
- News.com.au
Landlord move Victorian tenants are begging for
Victorian renters are being left out in the cold, and in the dark, with a major new report revealing more than one in four are living in homes with no energy-efficient features at all. Another 22 per cent are unsure what features their home has, while 54 per cent feel completely powerless to make upgrades themselves, according to the PropTrack Origin Renter Reality Report released today. Despite this, a significant number of tenants are still willing to pay more for better homes, with 38 per cent saying they would fork out extra for smart energy features. But those homes are few and far between. Block star's Melb project set to land $8m deal Agent's bizarre AFL move to sell Melb home PropTrack senior economist Anne Flaherty said the findings painted a stark picture of a rental market falling behind on liveability, comfort and control. 'Many of these homes were built when energy was cheap, and insulation or efficiency just wasn't part of the conversation,' Ms Flaherty said. 'But that legacy is hitting renters hard. 'They are paying for poor performance through higher bills, and they have no ability to change it.' Ms Flaherty said short leases and ownership rules mean renters often cannot make even simple changes to their homes, let alone major upgrades. 'With average tenancies under two years, renters are reluctant to invest in a property they may be forced to leave,' she said. 'They want more control, but the system just isn't built for it.' The report also shows 59 per cent of renters believe landlords should be responsible for improving energy efficiency, placing the pressure squarely back on owners. While the cost-of-living crisis has made renters more conscious of their energy use, the PropTrack senior economist said many are still sacrificing basic comforts like heating and hot water. 'Renters are cutting back where they can, but without proper insulation or efficient heating, it's just not enough,' Ms Flaherty said. 'They're stuck paying the price for decisions they don't get to make.' Victoria's new rental minimum standards now require ceiling insulation and efficient heating in all new tenancies, but Ms Flaherty said the rollout is still gaining traction. 'There are still huge gaps in awareness, and enforcement,' she said. Origin Energy General Manager of Retail Catherine Anderson said renters were not completely helpless, and even simple changes could shave hundreds off the annual energy bill. 'A door snake can reduce heat loss by up to 25 per cent. That is huge for such a low-cost fix,' Ms Anderson said. 'There are temporary insulation kits for windows, portable blinds, and smart plugs that stop standby power. 'These are simple, renter-friendly options.' Ms Anderson said renters with a smart metre could log into their retailer's app to see their usage patterns in real time and adjust habits accordingly. 'More federal rebates and energy incentives were on the way, including new battery schemes, but renters needed support navigating the,' she said. 'Renters want better homes. 'Landlords need more reason to deliver them.'
Courier-Mail
15-07-2025
- Business
- Courier-Mail
Qld renters missing out on energy bill relief
Renters are missing out on energy saving benefits in their homes, new research reveals. REA Group, together with Origin, released the PropTrack Origin Renter Reality Report, which analyses the motivations and obstacles for Australian renters to use energy efficient features in the home. The report found one-third (33%) of renters had no energy efficient features in their home, while another 22 per cent were unsure. 'Surging costs have created real challenges for Australian renters, and many are now being forced to make compromises around the size, location, and quality of the homes they can afford,' REA Group senior economist Anne Flaherty said. 'Energy efficient homes can offer much needed relief for renters on energy bills and can contribute to broader environmental goals. 'Yet due to limited control over property features, many renters are missing out on these ] benefits.' MORE NEWS: Mikaela Testa's mansion up for rent as crime fears force her out Aussie influencer couple list designer 'healing' home The report revealed more than half of renters cited lack of control (56%) as the biggest roadblock to adopting energy efficient features in the home, followed by upfront costs (27%). The majority of renters (59%) believe property owners were responsible for improving energy efficiency while 35 per cent of renters said they would be willing to pay more for a home with smart energy features. 'Despite these barriers, a third of respondents stated they would be willing to pay more for smart energy features, indicating motivations are there, yet stronger policies, incentives, and education are needed to help renting households improve energy efficiency. 'This could even begin with something as simple as a conversation with a landlord to identify energy efficient opportunities in the home.' Origin retail executive general manager Jon Briskin said there were many simple, affordable and temporary solutions to boost energy efficiency in rental properties and deliver energy bill savings. 'This includes draught-proofing, upgrading appliances to energy efficient models, as well as small changes to energy habits,' Mr Briskin said. 'We also welcome policy updates and improved availability of rebates that encourage landlords to improve energy efficiency in rental properties, including installing solar panels and batteries, ensuring renters share in the benefits and are not left behind in the energy transition.' The most common features renters report having in their homes were efficient lighting (21%), followed by solar power (15%) and energy efficient appliances (13%). Around half of renters reported turning off lights (53%) and appliances (47%) when not in use as their most common energy-saving behaviours. The report draws on the views of more than 4,800 respondents to the Residential Audience Pulse Survey.
News.com.au
11-07-2025
- Business
- News.com.au
Geelong home prices: Suburbs where values rose in June quarter
Geelong's property market is showing its strongest signs of recovery yet with most suburbs recording price growth over the past three months. House values surged up to 5 per cent in the top performing areas as quarterly median data from PropTrack revealed an uptick in 37 suburbs. Homebuyers will need to find an extra $44,000 to buy a typical house in Manifold Heights, which had the biggest gain, and $25,000 in Wandana Heights. Affordable suburbs again dominated the top of the growth table amid further signs buyers are returning to the market. Median home values rose $19,000 in Thomson, $15,000 in North Geelong and $11,000 in Corio. Units also performed strongly across the board, with prices rising in 19 suburbs. REA Group senior economist Anne Flaherty said the figures signalled a 'strong turnaround in Geelong', particularly when coupled with increasing demand on She said a 10 per cent surge in property searches in the region over the past 12 months was the sixth biggest increase nationally. 'That fact that it's number six in the country in terms of growth year-on-year by searches that is a really strong signal of upcoming demand,' Ms Flaherty said. 'I think Geelong is an area that still has a lot of value in it, so what you can get for your amount of money is still pretty good.' She said interest rates cuts had improved affordability and boosted consumer confidence, though this week's Reserve Bank's decision this week to keep the cash rate on hold may slow price growth. 'There is a sentiment out there that property prices are going to be rising this year, and we have already seen that growth, and often when people are buying in a market where prices are going to rise that can also mean they are not going to miss out,' she said. Hayeswinckle, East Geelong director Tiffany Simpson said investors were again beating a path to Geelong as the city put price volatility behind it. 'Geelong has certainly come back into the forefront again because, when you are looking at it from a national level, New South Wales, Queensland and Western Australia from an investor point of view it's blown for the yield,' Ms Simpson said. 'Whereas here in Geelong is still a really good, favourable yield so therefore there are some areas like Thomson, like Manifold Heights, that would appeal because the yield is still strong and there's a good block size and the properties are generally well maintained.' She said another interest rate rise, now tipped for August, would further drive confidence, particularly among higher end buyers considering a move. 'Those incremental changes do make quite a significant decision on higher price points and it does filter all the way through,' she said. 'I think going forward it is exciting times for Geelong – the volatility is becoming more in the past and the positiveness going forward is giving confidence back to those sellers.' HOME VALUE CHANGES JUNE QUARTER 2025 Suburb Median house value Quarterly change Annual change Inverleigh (H) $1,019,275 8% 1% North Geelong (U) $491,055 6% 2% Manifold Heights (H) $965,847 5% 3% Thomson (H) $531,161 4% 0% East Geelong (U) $514,330 4% 1% Lorne (U) $1,049,945 4% 5% Geelong West (U) $547,745 3% -2% Marshall (U) $502,604 3% 1% Norlane (U) $414,400 3% 3% Manifold Heights (U) $481,368 3% -2% Lara (U) $459,651 3% 0% Hamlyn Heights (U) $552,071 3% -2% Newtown (U) $588,353 3% 1% Wandana Heights (H) $985,635 3% -2% Bell Park (U) $508,561 2% 0% Corio (H) $485,016 2% 2% North Geelong (H) $627,017 2% 1% Herne Hill (H) $691,561 2% 0% Indented Head (H) $810,773 2% -1% Drysdale (H) $722,617 2% -1% Hamlyn Heights (H) $708,292 2% 1% Corio (U) $386,513 2% 0% East Geelong (H) $772,701 2% -3% St Albans Park (U) $455,830 2% 1% Portarlington (H) $855,120 2% -4% Herne Hill (U) $372,296 2% -1% Little River (H) $1,116,597 2% 0% Bell Post Hill (H) $636,622 2% 2% Whittington (H) $502,727 2% 1% Drysdale (U) $538,862 2% 1% Whittington (U) $404,682 2% 1% Belmont (H) $682,364 2% 0% Belmont (U) $524,337 2% -1% Lara (H) $686,777 2% 0% Norlane (H) $447,319 1% 0% Bell Park (H) $612,191 1% 1% Portarlington (U) $639,732 1% -1% Newcomb (H) $554,068 1% -2% Grovedale (H) $662,262 1% 0% Waurn Ponds (H) $784,920 1% 0% Highton (H) $849,045 1% -2% Armstrong Creek (H) $661,456 1% 1% Bannockburn (H) $754,045 1% 1% Geelong West (H) $812,293 1% -3% Geelong (U) $626,560 1% -4% St Leonards (H) $725,580 1% -3% Marshall (H) $619,407 1% -1% Breakwater (H) $518,218 1% -2% Curlewis (H) $659,885 1% -1% Mount Duneed (H) $707,588 1% -1% Lovely Banks (H) $714,294 1% 2% South Geelong (H) $793,907 1% -4% Charlemont (H) $624,214 1% 0% Newtown (H) $1,078,680 1% -1% St Albans Park (H) $587,081 1% 0% Geelong (H) $889,471 1% -1% Newcomb (U) $466,731 0% 1% Highton (U) $519,905 0% -4% Ocean Grove (H) $935,449 0% -1% Teesdale (H) $926,105 0% 0% Leopold (H) $664,225 0% -1% Point Lonsdale (H) $1,228,578 0% 1% Clifton Springs (H) $661,191 0% -2% Torquay (U) $830,305 0% -6% Barwon Heads (H) $1,486,558 0% -4% Torquay (H) $1,201,809 0% -2% Grovedale (U) $491,495 0% -1% Leopold (U) $492,343 0% -1% Winchelsea (H) $631,582 -1% -1% Jan Juc (H) $1,324,556 -1% -1% Queenscliff (H) $1,440,069 -1% 3% Fyansford (H) $914,164 -1% -2% Anglesea (H) $1,511,360 -2% -3% Wallington (H) $1,769,580 -2% -2% Moolap (H) $954,802 -2% -3% Ocean Grove (U) $743,563 -5% -9% Lorne (H) $1,793,274 -5% -8%
Herald Sun
11-07-2025
- Business
- Herald Sun
Melbourne houses tipped to hit new high by Christmas
Melbourne's property market has been tipped to reach a record high by Christmas after a rise in home values across hundreds of suburbs since April. PropTrack's latest quarterly home figures show it's battler 'burbs like Frankston North and Brooklyn leading the city's price charge. Inner-city pockets including Collingwood and Parkville were also among the top performing areas as almost 380 suburbs recorded an uptick in the past three months. RELATED: Melbourne homebuying and selling tricks to make and save you money Shock way Melbourne is more affordable than itself five years ago Melbourne man's amazing journey from sleeping in car to homeowner And with forecasts of further rate cuts, despite the Reserve Bank's shock hold decision this week, fuelling price rise confidence it's helping to drive expectations that Greater Melbourne's $979,979 median house value could top seven-figures before December. PropTrack senior economist Anne Flaherty labelled the numbers 'a bit of a comeback for Melbourne' and said more was on the way as FOMO, the fear of missing out, creeps back into the market. 'I actually do think that home prices in Melbourne will hit a new record high by the end of the year, just based on the rate at which we're growing at the moment,' Ms Flaherty said. 'I think there's a very real possibility that we could get there.' FIND OUT WHAT YOUR HOME IS WORTH PropTrack's data showed Melbourne's median house value was 1.6 per cent higher in June compared to 12 months earlier, with the Reserve Bank's two rate cuts this year helping to boost competition in the market. 'And I think from the perspective of buyers, we're sort-of seeing a bit of evidence of FOMO,' Ms Flaherty added. Prominent Melbourne-based buyers' advocate Cate Bakos agreed it was likely the city's median house value would surge to a new high by the year's end. 'I am experiencing record high inquiry and also many interstate investors committing to working with me, it hasn't been this hectic since 2021,' Ms Bakos said. 'Any suburbs offering houses on freehold in the sub-$1m market are experiencing high rates of competition.' The buyer's agent said she did not believe the RBA's decision to leave interest rates on hold this week would diminish buyer sentiment, with most people were expecting further rate cuts later in 2025. Across the June quarter, Melbourne's top suburbs for median house value growth achieved figures between 4 per cent and 5 per cent. They included Glen Huntly, which now has a $1,507,058 median, Wandong, $871,817, Braeside, $1,530,522, Williamstown North, $1,143,023, and Frankston North, $603,715. For purchasers seeking a smaller residence, Wallan in Melbourne's outer north performed best for units with median prices zooming up 10 per cent to $483,070. In regional Victoria, houses in the East Gippsland town of Orbost increased 8 per cent to hit $350,875 and Castlemaine units soared 9 per cent to $647,860. Closer to the Victorian capital, OBrien Frankston's Mark Burke said first- and second-home buyers, retirees and investors were among those trying to secure homes in Frankston North. He said this was thanks to the area's proximity to the beach and top-notch community infrastructure such as public transport, schools, shops and sports clubs. In June, the suburb's median house price stood almost $22,000 higher than three months prior. Mr Burke said the 'sizzling hot' local market particularly appealed to interstate-based investors hoping to capitalise on its affordability with up to 200 buyers and buyers' advocates inspecting homes during some sales campaigns. 'It's the highest rate of interstate interest I've seen in 40 years, it's about three times higher than usual,' he noted. Nelson Alexander Fitzroy partner Rick Daniel covers Melbourne's inner northern suburbs, including Collingwood where median house values rose 3 per cent, more than $41,000, to reach $1,284,545. Mr Daniel said the number of interstate investors inquiring about the suburb had steadily increased lately, although houses in were tightly held and did not often come up for sale. He credited Collingwood's proximity to the CBD and MCG, plus Smith's St's eateries, pubs and retail offerings, for driving its popularity. 'With all the local amenity, if you're looking for inner-city living, it's as good as it's going to get,' Mr Daniel said. In the western suburbs, Compton Green Inner West's Bella Doria said Williamstown North offered both lifestyle appeal and value for buyers. Young families, professionals and investors are among the most frequent buyers. 'You enjoy all the perks: beach proximity, easy access to the CBD via train, community charm, it has all the best Williamtown has to offer just at a more affordable price,' Ms Doria said. Neighbouring Williamstown is one of the priciest suburbs in Melbourne's west with a $1,536,493 median house price. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Champion boxer Sugar Kane Watts selling Melbourne home Actor Ryan Reynolds, Wrexham help pay Aussie mortgages First-home buyers Taryne Fletcher and Hannah Dyson reveal survival tips
Daily Telegraph
11-07-2025
- Business
- Daily Telegraph
Quarterly house price growth: Sydney's affordable pockets boom
Home prices have been growing at three times the rate of inflation in many parts of Sydney as interest rate cuts from earlier in the year continue to usher in more property buyers into the market. New exclusive data from PropTrack has revealed more than half of Sydney's suburbs have risen in price over the past quarter, thanks to two rate cuts bringing the cash rate down to 3.85 per cent. The biggest rises have been observed in some of the most affordable unit markets, with the rate cuts launching a scramble for the cheapest real estate deals near major commuter hubs. It comes as housing experts warned the Reserve Bank's surprise decision to keep the cash rate on hold at its Tuesday monetary policy meeting would fail to stifle the growing sense of urgency among new buyers. MORE: Mum and daughter's next-door purchase shock MORE: Your chance to buy Trumped tower Secret deal boosted Aussie's home by $7m Units in Ashcroft, Wahroonga, Belrose, Cartwright and Sadlier all jumped by 10 per cent or more in just three months, as affordable pockets under the city's lofty median price of $1.182m captured buyers. REA Group Senior Economist Anne Flaherty said a double digit increases were an 'enormous' jump for such a short period of time. 'That is absolutely out of the ordinary,' she said. 'Particularly we are seeing that those suburbs that are relatively more affordable are attracting a high level of competition. 'The reality is because the median price of a home in greater Sydney is so high, for a lot of people that are looking for a middle ring suburban Sydney home, it's just not even a possibility.' The data showed the typical unit in Wahroonga had now surpassed the $1m mark, increasing by more than $100,000, while houses in Menangle had jumped by $130,000 to $1.169m. 'Over time, the proportion of the total buyer pool who are looking for those more affordable suburbs is growing and we're getting more and more people priced out of those suburbs that are closer to the median Sydney price,' Ms Flaherty added. Ray White chief economist Nerida Consibee said the interest rate hold would not be enough to stop the market's 'remarkable momentum.' MORE: Iconic postcard factory's epic revamp Sign banks gearing up to deliver rates shock 'The pause may simply be a temporary reprieve rather than a change in direction … Sydney is very sensitive to rate cuts,' she said, noting Sydney's sky-high prices were unreachable for many and rate cuts would boost their chances. 'The rate hold will slow things down a little bit, but it will also slow the amount of properties going to market, even though buyers are increasingly back, we are not yet seeing a significant pick up in properties for sale,' she said. 'The cheaper end of the market is doing well not only because of rates but because there is a lot available to first home buyers now given the range of incentives that make it an easier entry into the market,' she said. Young couple Steven and Elizabeth Gardner have just sold their home in Plumpton to upsize with their two young kids Lily and Archie. They were able to secure a four-bedroom home around the $1m mark. 'The housing market is pretty daunting,' Mr Gardner said, grateful to have purchased their first home back in 2016 for around $500k which sold in July for $791,000. 'I don't know how young couples are doing it now without a bit of help from mum and dad,' he said. 'But we knew if we didn't buy now with the way interest rates were going, it was only going to get worse.' Their agent, McGrath McGrath West's Trent Zahra said he'd noticed a clear shift in buyer behaviour, especially first homebuyers and young families desperate for affordable options. He noticed many buyers from the North West were moving further west to get into the market under $800,000. 'That's really driving prices up,' he said. 'But we are still experiencing a lack of stock, especially of 'move in ready' family homes,' he added. 'Many are turning to strata properties even if its not the most ideal, with affordability these days you have to take the risk just to enter the market.' SYDNEY'S TOP TEN GROWTH SUBURBS MORE: 'Sad': Real reason Aussie families fall apart Insane asking price for home on active volcano
