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$74,800 rise: Brisbane hits $1m as Qld set to boom
$74,800 rise: Brisbane hits $1m as Qld set to boom

Courier-Mail

time17 hours ago

  • Business
  • Courier-Mail

$74,800 rise: Brisbane hits $1m as Qld set to boom

Brisbane has officially joined the ranks of the world's million-dollar house markets, with home prices soaring by the largest dollar increase among all Australian capital cities. The latest PropTrack Home Price Index, released Tuesday, has locked in the Queensland capital's median house price at $1.015m, as it flagged a fresh boom in prices out of regional Queensland. MORE: Mapped: Owners of Aus' trashed islands named Australia's 'most attractive' handout revealed MORE: All the tax write offs Aussies can claim ATO's dragnet: Millions of side hustles face shock tax bill Brisbane homes (houses and units) spiked by the equivalent of an average salary, rising $74,800 in the past 12 months without owners lifting a finger – with the biggest driver coming out of units which jumped a massive 12.9 per cent, up $82,300 in just one year to $708,000, while houses rose by $68,300 (6.93pc) to notch its $1.015m level. Brisbane's median price for all dwellings now sits at $908,000, marking an 8.26pc increase for the year to June, but experts are predicting the next big surge will come from regional Queensland, which is already outpacing Brisbane, seeing its home price rise 9.2pc in 12 months to $719,000 — a jump of $70,700 in one year. Townsville leads the charge as not just the strongest Queensland SA4 region but the top performer in Australia, with an 18.7pc rise in its median home price to $546,000 over the past year. MORE: Foreign investor's abandoned island for sale Cash-strap student turns $40k to 38 homes Mackay-Isaac-Whitsunday recorded a 14.98pc surge, bringing its median to $550,000, closely followed by Central Queensland's 14.72pc rise to $531,000. Areas west of Brisbane city also showed strong results: Toowoomba rose 13.01pc to $674,000, Ipswich increased 11.36pc to $754,000, and Darling Downs-Maranoa jumped 9.98pc to $457,000. Across regional Queensland, Wide Bay notched a 9.69pc rise to $596,000, Cairns climbed 8.62pc to $571,000, Gold Coast rose 8.02pc to $1.066m, Queensland-Outback increased 6.74pc to $267,000, and Sunshine Coast was up 5.23pc to $1.076m. REA Group senior economist Eleanor Creagh said Brisbane continued to see strong performance despite affordability constraints slowing the pace of growth. 'Prices are continuing to lift, and we're expecting that they will continue to do so,' she said. 'Affordability is a significant challenge even with interest rates falling.' Ms Creagh said many existing homeowners were now using accumulated equity to upgrade or purchase investment properties, often less expensive options on Brisbane's outskirts or in regional Queensland. MORE: Govt pays $3.3m for unliveable derelict house Shock as city's distressed home listings surge 36pc in one month Real Estate Institute of Queensland head Antonia Mercorella said there was extraordinary strength in Queensland's property market. 'Brisbane is playing catch up,' she said. 'Quite frankly, we have often been overlooked, Sydney and Melbourne have been the cities to watch.' Ms Mercorella expected to see a flight of investment capital to more affordable areas, especially across Queensland's regions. 'Regional Queensland, even though we have seen strong price growth as a general rule, is a more affordable option compared to the southeast corner in many cases.' MORE: Rate cut windfall: Aus big bank's shock new forecast But she warned new housing supply would ultimately determine how prices shape up. 'When we're talking about affordability and accessibility, all roads lead back to supply.' 'Anyone who's trying to get their foot on the ladder is all too familiar with this price growth,' she said. 'It's timely that the government's shared equity scheme beginning this month has a threshold of $1m reflecting market reality.' Across the greater Brisbane region's SA4s, Brisbane-North was up 9.78pc to $1.019m, Moreton Bay-North rose 9.37pc to $825,000, Logan-Beaudesert increased 8.4pc to $784,000, Brisbane-East climbed 8.22pc to $1.027m, Moreton Bay-South jumped 7.7pc to $902,000, Brisbane Inner City rose 7.21pc to $940,000, Brisbane-South increased 6.42pc to $1.159m, and Brisbane-West climbed 6.02pc to $1.191m. MORE REAL ESTATE NEWS

End of financial year review: Does your home loan measure up? - realestate.com.au
End of financial year review: Does your home loan measure up? - realestate.com.au

Herald Sun

time19-06-2025

  • Business
  • Herald Sun

End of financial year review: Does your home loan measure up? - realestate.com.au

The end of a financial year often brings a natural focus on finances — especially if you are investing in property as you prepare for tax returns. As one of your biggest financial commitments, it's the perfect time to review your home loan to ensure it meets your goals for the financial year ahead. Some borrowers have already kicked off their reviews, with the latest Mortgage Choice Home Loan Report revealing the value of refinance loans was up 30 per cent year-on-year over the March quarter. It could be worth reviewing your home loan. MORE: Mystery buyer of Packer's $80m pad revealed So, is it worth finding out if your home or investment loan is still giving you the best bang for your buck? The short answer is of course yes. Your reasons for reviewing your loan will be different to your neighbours', but it's worth taking time to review your loan to ensure it's working for you. Reach out to a mortgage broker who can compare your loan against what's in the market to see if you can access a sharper rate, an improved loan structure, or help you understand if you can tap into your equity. This end of financial year, ask yourself these four questions. Can I access a better rate? The Reserve Bank of Australia has already delivered two rate cuts this year, and the market is predicting a third cut on 8 July. As we see more cuts to the cash rate, competition will ramp up as some lenders pass on the savings in full, and others don't. A couple discussing their home loan with a mortgage broker. Picture: iStock. MORE: Black Stump demise exposed, menu emerges Some lenders are offering great rates to attract new customers, so if your home loan rate doesn't start with a 5, you might be paying too much. Can I claim tax deductions? If you have a mortgage on an investment property, now is the perfect time to take stock of the interest you paid, as well as any expenses related to property maintenance or management as you may be able to claim tax deductions relating to these expenses on your next return. Will a better loan structure offer me any benefits? Refinancing could help you access different loan features or a structure that better suits your needs, such as an offset account or redraw facility. Am I rolling off a fixed rate? If your fixed-rate term is coming to an end soon, it's the right time to shop around. When your fixed term ends, your lender will automatically move you onto a standard variable rate loan, but it may not be the most competitive on offer. Can I access equity? Property values continue to rise, with national values up 4.12 per cent year-on-year according to the May PropTrack Home Price Index. If your property has increased in value while you've had your home loan, you may have equity built up that could help you negotiate a lower rate or even put you in a position to upgrade your home or purchase another property.

‘No Boomers' Shares app now helping young Aussies crack the housing market'
‘No Boomers' Shares app now helping young Aussies crack the housing market'

West Australian

time07-06-2025

  • Business
  • West Australian

‘No Boomers' Shares app now helping young Aussies crack the housing market'

A share trading app which famously had a blunt message for those born before 1970 is trying to get more Aussies into their own home through an unused government scheme. Pearler, a share trading app moving into the superannuation space, has launched a product they are calling 'HomeSoon' with the aim of simplifying the steps needed to take advantage of the government's first home savers scheme (FHSS). The company says it is also the first platform in Australia to allow customers to use open banking to track bank savings, FHSS savings, shares, and other assets in one place – regardless of whether those assets are held with Pearler. Pearler co-founder Nick Nicolaides said house price growth is outpacing savings, meaning it is no longer sustainable for the average person to park their money in a bank account while they are saving for a deposit. 'Bank savings are no longer sustainable for a seven-eight year journey, and with that it adds complexity,' Mr Nicolaides told NewsWire. 'I don't think people really have a choice but to have their house deposit spread across bank accounts, probably some shares and the FHSS. 'It is more of a case of getting to the end goal of being wealthy enough to buy into the housing market, you now need to not only understand savings and budgeting, you now need to understand investing and this scheme,' he said. NED-7083-Housing-price-changes Mr Nicolaides said ideation was simple – to help first home buyers get into the housing market by taking the complexity out of a current scheme. 'We've been talking to customers for a while with only a fraction of customers actually using the scheme,' he said. 'When we asked why, it was very clear that firstly the scheme was in super which people feel some nervousness about and if you then get your head around putting additional savings into super, tracking, knowing what you can withdraw and withdrawing it in time, it quickly layers up. 'So a combination of a complex superannuation system and a not very mainstream scheme really puts most people off.' The latest PropTrack Home Price Index shows it has never been more expensive for first home buyers to get into the market. National house prices hit a new peak in May, lifting by 0.39 per cent over the month for a 4.12 per cent year-on-year gain. All capital cities saw home prices grow in May, with Melbourne leading the way up 0.79 per cent, followed by Adelaide up 0.52 per cent and then Sydney up 0.39 per cent. Nationally, since the Covid falls starting in March 2020, house prices are up 50.1 per cent for a new median house price value of $809,000, while Australia's most expensive city, Sydney, will set the median buyer back $1,124,000. Pearler's latest superannuation move follows launching a fund in late March saying it caters for younger members with a simple slogan 'for people born after 1970 (sorry, Boomers)'. During the launch, Mr Nicolaides said the 'no Boomers' fund was more about solving a problem for younger Australians than a display of anti-Boomer rhetoric. 'If you take a casual interest in what is written about superannuation, most articles are written about how the superannuation industry can deal with retirement,' he said. 'It makes sense that it gets the most attention because it is an immediate problem now. 'But at the other end of the spectrum, the industry and the media recognise that engagement in super is lacking in younger people. If we don't fix that, then today's younger people will find themselves in the same boat in 20, 30 years time,' Mr Nicolaides said. The FHSS allows people to contribute and access up to $15,000 of their voluntary contributions into super each financial year (up to a total cap of $50,000) for a home deposit. The main benefit of saving for a home this way is super's lower tax rate – meaning Australians can potentially get to their deposit faster. The scheme currently has a relatively low take up, with Pearler saying just 13.7 per cent of home buyers bought through the FHSS. Mr Nicolaides said the onus was not on the government to market the product better but instead on the general financial advice sector to do a better job of educating people. 'The government got the ball rolling on a fantastic scheme but there is only so much that can be done,' Mr Nicolaides said. 'We have a situation in Australia where, whether generationally like it or not, most of our financial decisions are going to be self-directed for the average person on the average wage. 'It becomes our job as an industry to educate people by giving them the tools and the guidance in mediums people want to use.' Mr Nicolaides says he hopes over time three in four Australians trying to buy a house will do so through the FHSS.

‘No Boomers' super app tackles housing crisis
‘No Boomers' super app tackles housing crisis

Perth Now

time07-06-2025

  • Business
  • Perth Now

‘No Boomers' super app tackles housing crisis

A share trading app which famously had a blunt message for those born before 1970 is trying to get more Aussies into their own home through an unused government scheme. Pearler, a share trading app moving into the superannuation space, has launched a product they are calling 'HomeSoon' with the aim of simplifying the steps needed to take advantage of the government's first home savers scheme (FHSS). The company says it is also the first platform in Australia to allow customers to use open banking to track bank savings, FHSS savings, shares, and other assets in one place – regardless of whether those assets are held with Pearler. Australians are not using the first home super saver scheme. NewsWire / Nicholas Eagar Credit: NewsWire Pearler co-founder Nick Nicolaides said house price growth is outpacing savings, meaning it is no longer sustainable for the average person to park their money in a bank account while they are saving for a deposit. 'Bank savings are no longer sustainable for a seven-eight year journey, and with that it adds complexity,' Mr Nicolaides told NewsWire. 'I don't think people really have a choice but to have their house deposit spread across bank accounts, probably some shares and the FHSS. 'It is more of a case of getting to the end goal of being wealthy enough to buy into the housing market, you now need to not only understand savings and budgeting, you now need to understand investing and this scheme,' he said. NED-7083-Housing-price-changes Mr Nicolaides said ideation was simple – to help first home buyers get into the housing market by taking the complexity out of a current scheme. 'We've been talking to customers for a while with only a fraction of customers actually using the scheme,' he said. 'When we asked why, it was very clear that firstly the scheme was in super which people feel some nervousness about and if you then get your head around putting additional savings into super, tracking, knowing what you can withdraw and withdrawing it in time, it quickly layers up. 'So a combination of a complex superannuation system and a not very mainstream scheme really puts most people off.' The latest PropTrack Home Price Index shows it has never been more expensive for first home buyers to get into the market. National house prices hit a new peak in May, lifting by 0.39 per cent over the month for a 4.12 per cent year-on-year gain. All capital cities saw home prices grow in May, with Melbourne leading the way up 0.79 per cent, followed by Adelaide up 0.52 per cent and then Sydney up 0.39 per cent. Nationally, since the Covid falls starting in March 2020, house prices are up 50.1 per cent for a new median house price value of $809,000, while Australia's most expensive city, Sydney, will set the median buyer back $1,124,000. House prices continue to outpace saving deposit rates. NewsWire/ Gaye Gerard Credit: News Corp Australia Pearler's latest superannuation move follows launching a fund in late March saying it caters for younger members with a simple slogan 'for people born after 1970 (sorry, Boomers)'. During the launch, Mr Nicolaides said the 'no Boomers' fund was more about solving a problem for younger Australians than a display of anti-Boomer rhetoric. 'If you take a casual interest in what is written about superannuation, most articles are written about how the superannuation industry can deal with retirement,' he said. 'It makes sense that it gets the most attention because it is an immediate problem now. 'But at the other end of the spectrum, the industry and the media recognise that engagement in super is lacking in younger people. If we don't fix that, then today's younger people will find themselves in the same boat in 20, 30 years time,' Mr Nicolaides said. The FHSS allows people to contribute and access up to $15,000 of their voluntary contributions into super each financial year (up to a total cap of $50,000) for a home deposit. The main benefit of saving for a home this way is super's lower tax rate – meaning Australians can potentially get to their deposit faster. The scheme currently has a relatively low take up, with Pearler saying just 13.7 per cent of home buyers bought through the FHSS. Mr Nicolaides said the onus was not on the government to market the product better but instead on the general financial advice sector to do a better job of educating people. 'The government got the ball rolling on a fantastic scheme but there is only so much that can be done,' Mr Nicolaides said. 'We have a situation in Australia where, whether generationally like it or not, most of our financial decisions are going to be self-directed for the average person on the average wage. 'It becomes our job as an industry to educate people by giving them the tools and the guidance in mediums people want to use.' Mr Nicolaides says he hopes over time three in four Australians trying to buy a house will do so through the FHSS.

Interest rate cut has immediate impact on Geelong home prices
Interest rate cut has immediate impact on Geelong home prices

Herald Sun

time01-06-2025

  • Business
  • Herald Sun

Interest rate cut has immediate impact on Geelong home prices

Geelong's property market is just a chip-shot away from making up the ground lost in home prices over the past 12 months, new data shows. The latest PropTrack Home Price Index results reveals the median home price in Geelong ended May just .67 per cent shy of the value recorded at the same time last year. It marks a quick turnaround as the Reserve Bank locked in the second interest-rate cut in 2025 a fortnight after the government banked a stunning federal election win. RELATED: 'Biggest challenge' facing Geelong's population success Geelong tops Australia's regional migration rankings East Geelong character home sells $120k above reserve Geelong's median house price reached $893,000 in May, according to the PropTrack figures, just shy of the figure recorded in 2024. The value of a typical unit is up on all measures, reaching $612,000 by the end of May. PropTrack senior economist Eleanor Creagh said Geelong was not far off returning to positive territory on annual terms. 'It's a bit of a chip shot, and it's likely that prices are going to continue lifting throughout the remainder of 2025,' Ms Creagh said. 'We're seeing that price momentum has increased and broadened with interest rates falling. 'And we know that lower interest rates have lifted borrowing capacities and boosted buyer demand, and of course, with further price increases and rate cuts expected, prospective buyers are moving off the sidelines and accelerating their purchasing decisions. 'And as a result, we're seeing that growth momentum has increased, underpinned by improving buyer sentiment and confidence.' Ms Creagh said it appears that interest rates moving lower has buoyed buyer confidence. 'I think people are anticipating that interest rates are going to continue to move lower already and that prices are going to continue to rise.' The fast turnaround comes regional prices outpaced the combined capitals. Regional home prices are now 65 per cent higher than their levels five years ago. The turnaround in buyer sentiment after an interest-rate cut comes amid continued strong population growth on the back of nation-leading internal migration figures. More than 10 per cent of people moving to regional Australia have settled in Geelong, the Regional Australia Institute data from the Regional Movers Index revealed. McGrath, Geelong agent David Cortous said the changing sentiment was already visible on the streets, with more people attending inspections, watching auctions and in some cases competing for properties. 'The Geelong market has been flat on price to two years now,' Mr Cortous said. 'We're starting to see that multiple buyers are back on properties now and we're selling through stock that's been sitting there. That's an indicator that the needle is moving.'

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