Latest news with #DrDiaswatiMardiasmo
Daily Telegraph
06-07-2025
- Business
- Daily Telegraph
Winter best for buyers, Autumn for sellers: exclusive report
If you're on the property market fence, get down, because now is the best time to buy. That's the finding of exclusive new research, which crunched the numbers on historical sales results and found winter was when buyers could get the best deals. The Ray White analysis measured the average prices achieved in each month, relative to sales across the rest of the year, to determine the best time to buy and sell in each suburb. July and August were the two main months across major capitals. Combine this with the timing of the current RBA rate lowering cycle and the beginnings of value growth in various markets, and buyers are presented with an opportunity to begin immediately creating wealth in the form of equity. In Sydney, July was best for nabbing a bargain for 127 suburbs, including a whole lot of big name, sought after postcodes. MORE: Best time to buy and sell in all Sydney suburbs revealed August took the crown for the cheapest month to buy in Brisbane, while winter as a season was best for bargains in 718 suburbs, followed by summer with 524. Chief economist of property firm PRD Real Estate, Dr Diaswati Mardiasmo, said while winter was perceived as a slower real estate period, competitive buyers often used the season to house hunt behind the scenes. 'During the winter months, you may not see a lot of people,' she said. 'That does not mean people are not actively bidding or buying.' MORE:Best months to buy and sell in all Brisbane suburbs It narrowly outpaces January, when it's the best time to buy in 96 suburbs, however Ray White chief economist Nerida Conisbee said with a number of other suburbs recording their second or third lowest medians in January over the timeline, it was overall the most affordable month to buy a home in. MORE:Best months to buy and sell in all Adelaide suburbs While sellers in both months are likely to be very motivated to lock in a deal, potentially explaining the typically lower prices, Ms Conisbee said spring could also easily work in buyers' favour — especially if they made a move before expected rate cuts drive prices up. When it comes time to sell, the figures, going back a decade, show Autumn to be a more successful season than the traditionally revered spring. May was the best time to sell Adelaide houses, while September and July were the best time for buyers to bag a bargain for houses and units respectively. MORE:Best months to buy and sell in all Melbourne suburbs In Melbourne, the data showed the most profitable time to sell is March, prompting experts to warn against flooding the market with properties in spring. Melbourne was another market where July was the winning month for buyers, with prices at their most affordable in 108 suburbs.
News.com.au
25-06-2025
- Business
- News.com.au
Where the affordable and liveable pockets are now in each city
Melbourne is officially more affordable than Sydney and Brisbane, with the southern capital offering more suburbs at accessible prices. The stunning revelation was made in the latest PRD Smart Moves: Capital City Editions report for the first half of this year, which found that the number of affordable unit suburbs in Brisbane had tanked. 'For the first time, Melbourne eclipsed Brisbane and Hobart in terms of having the highest percentage of affordable suburbs for units,' the report by PRD chief economist Dr Diaswati Mardiasmo says. 'Melbourne recorded 42.9 per cent of affordable suburbs, much higher than Brisbane's 38.7 per cent and slightly higher than Hobart's 41 per cent. 'Compared to the 2nd Half 2024 report, the percentage of affordable suburbs has declined for all capital cities and almost all stock types. 'The largest decline is in Brisbane units. In the 2nd Half 2024 report, there were 60.3 per cent affordable unit suburbs. 'This proportion has dramatically declined to 38.7 per cent.' PERCENTAGE OF HOMES DEEMED AFFORDABLE AND LIVEABLE SYDNEY: 322 7.8% BRISBANE: 218 25.2% MELBOURNE: 224 24.6% HOBART: 49 42.9% ADELAIDE: 338 46.7% GOLD COAST: 63 34.9% UNITS (No. of suburbs/% Affordable) SYDNEY: 312 36.9% BRISBANE: 199 38.7% MELBOURNE: 224 42.9% HOBART: 39 41% ADELAIDE: 267 49.4% GOLD COAST: 56 53.6% (Source: PRD Smart Moves) *** But the report found that units continued to provide the best hope for buyers in Sydney, Brisbane, Melbourne and Hobart, with stark contrasts in affordability across houses and units. In Sydney, the number of affordable house suburbs sits at 7.8 per cent compared to 36.9 per cent for units. A suburb was deemed affordable and liveable if its median sales price was below the capital city average. Suburbs deemed both affordable and liveable for houses in Greater Sydney were all located in the west, and included Condell Park, Guildford, Sefton, Chester Hill, Punchbowl, Greenacre, Granville, Lakemba, Auburn and Merrylands. Nine of the top 10 unit suburbs in Sydney were also in the west. But it was Brisbane that proved the hardest to choose suburbs that were both affordable and liveable due to property price growth in most of the city's suburbs, and a low level of new residential stock planned, the report warned. 'Sydney and Melbourne proved easier, as many suburbs are still experiencing negative or low-price growth, yet with a higher level of new residential stock in the pipeline.' It was revealed that of Brisbane's 218 suburbs for houses, only 55 were MOW considered affordable. Suburbs that made that benchmark for houses included Coopers Plains, Springwood, Taigum, Griffin, Slacks Creek, Lawnton, Inala, Alexandra Hills, Logan Central and Zillmere, with median prices ranging from $516,500 (Logan Central) to $822,500 (Taigum). For units, affordable and liveable suburbs included Bowen Hills, Albion, Upper Mount Gravatt, Nundah, Springwood, Griffin, Slacks Creek, Lawnton, Zillmere and Spring Hill. Of Melbourne's 224 house suburbs 55 were affordable, while across Hobart's 49 suburbs, just 21 met the benchmark. The affordable Melbourne suburbs included Epping, Sunshine West and St Albans, while for Hobart, Berriedale, Rokeby and Risdon Vale made the list. 'Hobart still has the most affordable chosen suburbs for houses, followed by Melbourne,' the report said. 'Brisbane is now the second most expensive city for houses, especially for those that are also looking for liveability and the possibility of new housing stock. 'The prospect of this price growth slowing down is unlikely, due in part to the concentrated nature of new stock. 'That is, they are mostly found in suburbs that have a median house price closer to or higher than the Brisbane Metro median house price.' Meanwhile, chosen suburbs for units show median prices that are approximately on par between all four capital cities. 'That said, Brisbane's most affordable unit prices are at times pricier than Sydney's, due to ensuring there is a reasonable amount of ready-to-sell stock planned for construction in 2025,' it noted. 'This is the same pattern as the 2nd Half 2024 report series, which suggests that to access new stock, Brisbanites must sacrifice affordability for availability.' Listings on real estate portals also make it tough with buyers, with many not listing a price, merely saying 'make an offer', 'expressions of interest' or simply 'for sale'. Others are scheduled to go to auction. In Brisbane, a three bedroom house at Bald Hills is listed for sale for best offers over $699,000 by June 30. The median house price in the River City is now $989,818. In Sydney, a three bedroom cottage in Hazelbrook is listed with a price guide of $1.2 million to $1.28 million. Hazelbrook is about 85km from the city centre. The median house price in Greater Sydney is $1,474,343. In Melbourne, a two bedroom Victorian cottage in South Melbourne is listed for offers between $850,000 and $900,000. The median house price in Melbourne is now $934,500, approximately $55,000 less than the Brisbane median house price. Meanwhile, in Hobart, a Kingston home is listed for offers over $650,000 - $57,506 below its median house price of $707,506. It comes after the latest PropTrack Home Price Index revealed that the median house price across Australia was now $1 million. The research found that there are 106 suburbs across the capitals where 100 per cent of houses are valued at less than $1 million, the vast majority of which are located in outer areas where land is less scarce and properties are much more affordable as a result. On the other hand, the suburbs with the lowest proportion of houses under $1 million are found in the priciest pockets of the capitals, such as Sydney and Melbourne's eastern suburbs or the inner suburbs of Brisbane, Adelaide and Perth. The report revealed that national home prices hit a new record high last month. *** SYDNEY HOUSES: Condell Park, Guildford, Sefton, Chester Hill, Punchbowl, Greenacre, Granville, Lakemba, Auburn, Merrylands UNITS: Sefton, Roselands, Belmore, Punchbowl, Narwee, Granville, Lakemba, Auburn, Merrylands, Harris Park *** BRISBANE HOUSES: Coopers Plains, Springwood, Taigum, Griffin, Slacks Creek, Lawnton, Inala, Alexandra Hills, Logan Central, Zillmere UNITS: Bowen Hills, Albion, Upper Mount Gravatt, Nundah, Springwood, Griffin, Slacks Creek, Lawnton, Zillmere, Spring Hill *** MELBOURNE HOUSES: Williams Landing, Heidelberg West, St Albans, Sunshine North, Thomastown, Epping, Tullamarine, Truganina, Lalor, Sunshine West UNITS: Maribyrnong, North Melbourne, Kensington, Williams Landing, South Yarra, Ormond, St Albans, Hawthorn, Epping, Carlton *** ADELAIDE HOUSES: Northfield, Bowden, Blair Athol, Salisbury North, Ridgehaven, Salisbury, Woodville Gardens, Taperoo, Para Hills, Modbury North UNITS: Para Hills West, Adelaide, Royal Park, Seacliff, Daw Park, Para Hills, Glynde, Keswick, Northfield, Alberton *** HOBART HOUSES: Goodwood, Mornington, Lutana, Warrane, Clarendon Vale, Geilston Bay, Berriedale, Rokeby, Risdon Vale, Glenorchy *** GOLD COAST
News.com.au
10-05-2025
- Business
- News.com.au
Named: Best affordable regional Vic areas to buy in
Wodonga, Bendigo and the Shepparton region have been named among Australia's best bets for those wanting to buy an affordable home that will set them up for life. The three municipalities were ranked among the nation's top 10 spots where buyers could buy today and see their home gain value within the year, with other nominated locations including Cairns in Queensland and Dubbo in NSW. The Greater Shepparton area was the most affordable option on offer, with houses at $490,000 — despite values there having risen 90 per cent in the past decade. Bendigo was next, with houses at $570,000 and units at $420,000. And on the Murray River border of Victoria and NSW, Wodonga's $580,000 median house price and $380,000 unit price set it up as an affordable option with prospects it won't stay that way. PRD chief economist Dr Diaswati Mardiasmo said after data mining key factors that contribute to the long-term success of an area's property market for every council area in Victoria, the three had stood out as the best bets for first-home buyers and investors. Dr Mardiasmo added that with all three regions also offering homes for well below the caps on government assistance programs, they offered particular value to first-home buyers who wanted more than just the studio or small apartment they might be able to get for the same price in Melbourne. 'These can be places where you are getting away from Melbourne entirely,' she said. 'If other places can give you the same thins as Melbourne … why not move? You can be a first-home buyer in regional areas and thrive.' PRD assessed regional cities with home values below the state capital, excluded those without consistent price growth across houses, units and land, and preferenced those with strong rental returns for investors and tight vacancy rates. With future development pipelines mandatory and strong local employment rates, Dr Mardiasmo said the research indicated these were the areas that could help set first-home buyers up for life with future home value growth that could surpass many other areas. Regional Australia Institute chief executive Liz Ritchie said Australian migration patterns were changing, with more people leaving Melbourne for regional areas than coming to the big smoke from country towns and cities. Their analysis of Census data has also shown regional Victoria had the largest net gain of people from 2016-2021, a trend that is believed to have continued since, and been driven by significant movement by Millennials. RAI research shows Bendigo was among the top five Victorian LGAs attracting people from other parts of the state, while Wodonga has also been rated as a hot spot for migration. Their data also shows that all three areas provide median home prices that are less than nine times the annual income of local workers, a vast improvement on the decades of wages needed to afford a home in many parts of Melbourne. 'The reasons why people are choosing a life in regional Australia varies, but we commonly hear from movers that it is a combination of the job opportunities, lifestyle, affordability, space and ability to gain time through the removal of a long daily commute,' Ms Ritchie said. 'We need to understand that the future of our country has regional Australia at its centre, not at its peripheries.' The organisation is now working towards a 10-year goal of making regional Australia more prosperous to support those looking to find a home outside of major capital cities. 'Now is the time for a national conversation on strengthening our regions, to ensure their rightful place in Australia's story,' she said.
