Latest news with #propertyexperts
News.com.au
03-07-2025
- Business
- News.com.au
Suburbs where prices have been rising by $1k a day over five years
Home prices have been rising by an average of over $1,000 each day of the last five years in many areas as property industry experts slam governments for their sluggish response to critical housing shortages. The alarming price rises have occurred amid record population growth since the Covid pandemic started in 2020, coupled with slow progress on the home construction front. Government figures showed the country needed nearly 250,000 new homes built per year to keep pace with population growth but building activity has been well short in most years since 2020. ABS figures released Tuesday revealed Australia approved 181,643 new homes last year, up from 165,000 the year prior. It has meant the country is already 60,000 homes short of the number of new homes needed to meet housing targets just one year into the National Housing Accord plan to build 1.2 million homes by 2029. Analysis of PropTrack figures have laid bare the kind of price impact housing shortages have had in the last five years – a period marked by historic lows in interest rates and record home purchasing activity. Close to 200 suburbs nationally saw median prices rise by an average of more than $500 each day of the five years between May 2020 and May 2025. This included 19 suburbs where median price rises exceeded $1,000 a day during the five-year period, leaving local prices millions of dollars higher than they were just five years ago. The most significant rises were recorded in Sydney's inner regions, along with the Gold Coast, Sunshine Coast and parts of Adelaide. North Shore Sydney suburb Wollstonecraft had one of the most extreme price rises. The suburb median house price ballooned from $2.8 million in 2020 to $5.7 million today – an average rise of $1550 across each day over the last five years. There was a similar rise further north in the suburb of Warrawee, where the median house price grew from $2.45 million to $4.9 million, with prices rising an average of about $1,340 per day. Houses in Gold Coast hub Surfers Paradise had the largest gain in Queensland, going from $1.78 million five years ago to $4 million today – an average rate of about $1210 per day. Unley Park was the top growing market in South Australia, with rises equating to an average of $1,240 per day for first years. Economist and buyer's agent Rich Harvey of Property Buyer said many of the Sydney areas with the fastest price rises had major issues with the pipeline of new housing supply. 'Somewhere like Wollstonecraft is highly sought after and is slated for higher density. There should be more stock there but getting it approved and out the ground is difficult,' he said. 'Some sites are no longer viable for new projects even after being earmarked for higher density because of the huge increases in building costs.' He added that the country as a whole was failing to build enough housing to accommodate population increases from migration. 'There are numerous reasons prices have increased and all the forces work together, but perhaps the most significant is migration,' Mr Harvey said. 'We had close to zero migration at the start of Covid and then there was catch up migration and after that migration figures were essentially double (pre-Covid) numbers. 'Migration is still elevated and that's put massive pressure on rents and prices at a time when building activity is slow.' PropTrack economist Eleanor Creagh said the cycle of price rises was often self-fulfilling. Home seekers often bid up prices to secure homes faster out of fear they would eventually be priced out of their intended suburb, but this activity often ensured swifter market rises, Ms Creagh said. Prices rises also fuelled strong upgrader activity: home buyers were able to secure new properties with larger and larger offers because of the steep value gain in their existing homes, she explained. Housing Industry Association economist Tim Reardon said government taxes have exacerbated the problem. He pointed to recent industry data that showed close to half the cost of supplying new house and land packages in major markets, including Sydney, was now government taxes and red tape. Mr Reardon said taxes on foreign investment in new housing projects, including a doubling or tripling of stamp duty charges for foreign buyer in some states since 2017, had backfired. The increased taxes meant a key source of funding for new housing projects disappeared, he said. 'They taxed the capital not the people,' Mr Reardon said. 'The money dried up but people continued to come into the country through migration, putting more pressure on the housing market.' DAILY GROWTH IN HOUSE PRICES MAY 2020-2025 Suburb Avg. price rises per day Dover Heights NSW $1,781 Bellevue Hill NSW $1,589 Wollstonecraft NSW $1,547 Bronte NSW $1,342 Warrawee NSW $1,338 Double Bay NSW $1,281 Arcadia NSW $1,266 Centennial Park NSW $1,242 Unley Park SA $1,237 Surfers Paradise QLD $1,212 Vaucluse NSW $1,211 Northbridge NSW $1,110 Mosman NSW $1,110 Horsley Park NSW $1,099 Palm Beach NSW $1,063 Minyama QLD $1,063 North Bondi NSW $1,047 Waverton NSW $1,014 Woollahra NSW $989 Riverview NSW $974 South Coogee NSW $966 Hyde Park SA $934 Queens Park NSW $914 Putney NSW $911 Willoughby East NSW $905 Mermaid Beach QLD $896 Kensington NSW $893 Shelly Beach QLD $889 Greenwich NSW $884 East Lindfield NSW $882 Balgowlah Heights NSW $871 Tennyson Point NSW $863 Medindie SA $856 Burraneer NSW $852 …
Daily Mail
22-06-2025
- Entertainment
- Daily Mail
I worked on A Place In The Sun - people think it's a dream job but it's seriously difficult and there's even a strict dress code with two sorely-needed items BANNED
A presenter from A Place In The Sun has revealed the more difficult side to her job, including a strict dress code she had to follow. The Channel 4 show helps house hunters find their dream abode abroad. Scarlette Douglas, 38, first appeared on the property programme back in 2015 and has used her expertise to aid many prospective buyers. Despite travelling to many stunning locations and meeting a range of interesting people, working on the show isn't always fun. Scarlette told The Express how A Place In The Sun is actually 'really hard' and five days of filming is put into creating just one '47-minute show'. She also revealed the two sorely-needed items that presenters are banned from wearing. 'There's a lot that goes into it. It's hard work,' the property expert said. She added: 'You can't wear sunglasses or a hat.' The presenter admitted: 'You just about have time to drink some water. You keep going and going and going, so as much as it looks glamorous, it's actually a really difficult show.' Scarlette left A Place In The Sun back in 2022 and has since gone on to feature on another property show, Worst House On The Street. The Channel 4 series sees property developers Scarlette and Stuart Douglas, who are brother and sister, help people transform their family homes without breaking the bank. Another presenter from A Place In The Sun shared her own tale from the show. Jasmine Harman, 49, has been a property expert on the Channel 4 programme since 2004. Over the two decades she has seen a range of holiday homes and plenty of potential buyers find their dream abode abroad. However, she shared one incident that stood out to her and she described as 'awful,' to the Express. The TV star described how she suffered from motion sickness during a ride on a microlight plane in the Algarve. 'We were flying and he was doing all of these little tricks and I got a bit of motion sickness and I started to feel a bit dodgy. I kept telling myself, "I'll be alright, I'll be alright,"' she recalled. Jasmine felt 'so sick' when the plane landed but 'just couldn't get the helmet off'. She added: 'I ended up vomiting inside the helmet. And it was so embarrassing. In front of the house hunters and this handsome pilot. The whole team.' The presenter described it as 'an awful moment' and 'everyone was there,' but she has now laughs about it instead.
Daily Mail
10-06-2025
- Business
- Daily Mail
The 10 common blunders people make when they move home revealed by experts
Buying and selling a home is an expensive business even before you take into account stamp duty, removal costs, a surveyor and estate agent fees. However, homeowners needlessly add thousands of pounds to the final bill, property experts warn.
RNZ News
10-06-2025
- Business
- RNZ News
Property valuations drop for Auckland
money housing 30 minutes ago Council valuations or CV's for Auckland's 630-thousand homes have decreased by an average of 9 percent. For many, the drop is unnerving and a tough pill to swallow, especially after the highs of 2021. But property experts have said the CV is just a taxation tool, and homeowners shouldn't let it influence their decisions. Felix Walton reports.
Daily Mail
13-05-2025
- General
- Daily Mail
Why a swimming pool could knock £52,000 OFF your house price: We reveal the top ten turn offs when it comes to selling your home
Every seller likes to believe their home is perfect and is often blind to imperfections so obvious to potential buyers. But features from your house number to certain plants in your garden could be a turn-off for viewers and wipe tens of thousands of pounds from your property's price tag or put them off making an offer – especially in a slow housing market.
