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Australia house very expensive hor, please don't come here please.

Ash007

Alfrescian
Loyal
http://smh.domain.com.au/home-buying-tips/demand-up-for-smaller-apartments-20120427-1xp9v.html

Demand up for smaller apartments
Susan Welling and Isobel King
April 27, 2012
Read laterComments 70

Small packages
The rise of the one-bedder. Property editor Stephen Nicholls reports.
Autoplay OnOffVideo feedbackVideo settings
Affordability, not space, is now the unit drawcard and developers are responding to that shift.

Apartment sizes across Australia are shrinking as developers race to provide cheaper homes for cash strapped buyers in what have been named some of the least affordable major housing markets in the world.

Plans for blocks filled with large three-bedroom apartments are being hastily redrawn in favour of a much greater proportion of one bedroom units, often at well under the $600,000 threshold for stamp duty exemptions in NSW and eligible for 20 per cent duty reductions in Victoria.

‘‘There’s been a big change and developers are looking increasingly to one-bedroom apartments, which are a lot more affordable for young people or investors,’’ the managing director of CBRE Residential Projects, David Milton, says.

Advertisement: Story continues below

Size counts ... Sydney's Harbour Mill, like other developments, has shifted its focus to include more one-bedders.
‘‘They’re focusing more on well designed smaller apartments, which is a market that’s now particularly strong.’’

Of the new developments now being unveiled across the country, many contain a significantly greater number of one-beds than originally intended. Some only include a nominal scattering of three-beds purely because local councils demand it and not to build them would trigger heavy penalties for developers.

‘‘We feel the price point is around $600,000 and once you go beyond that, the market is much more rarefied,’’ says Robert Magid, chief executive of The Magid Group Developments, which has just announced the five-building, 535-unit Sydney project Rosebery Park, with its first stage launching in mid-June.


Harbour Mill.
The first release, Genesis, will feature 33 one-beds, 66 two-beds and just six three bedders.

‘‘Only 10 per cent are three-beds and that’s only because it’s demanded by the City of Sydney Council,’’ he says.

‘‘The council skews the market enormously with a variety of penalties if we don’t comply.’’ In Sydney, the emphasis on smaller apartments is growing rapidly, especially with the city being named the third-most unaffordable major housing market in the world, with its median housing price standing at 9.2 times the median income.


Melbourne's Kingsford.
The annual Demographia International Housing Affordability Survey announcement is in stark contrast with its recommendation that housing prices should not exceed three times gross annual household incomes.

It’s not much better in Melbourne, either. It’s been ranked the fourth most expensive city globally, with a median multiple of 8.4, while Brisbane has recorded a score of six.

The most expensive cities are Hong Kong and Vancouver.


Brisbane's Brooklyn on Brooklyn.
The managing director of the AWM Development Group, Ashley Muir, has trimmed sizes of houses in his new Melbourne master planned Kingsford at Point Cook in order to make them more
affordable.

Compounding that challenge, he says, has been the squeeze on developers from tightening finance regimes and increasing construction costs.

It’s a similar story in Brisbane. One of the city’s largest inner-city developers, Metro Property Development, originally had 195 apartments planned for its Brooklyn on Brookes project in Fortitude Valley. A month ago, the larger two-bedroom, two bathroom apartments were ‘‘reconfigured’’ to about 84 square metres to allow for an additional 21 one-bedroom apartments.

‘‘Research told us the appetite for inner-city apartments priced between $600,000 and $750,000 was quite subdued, with a trend towards smaller, cheaper apartments,’’ the communications manager for Metro, Peter Hobbs, says.

At the same time, plans for Metro’s Madison Heights development in inner-city Bowen Hills have been amended to increase the number of apartments from 286 to 308, allowing for additional studios and one bedders.

‘‘It comes down to more efficient use of space in terms of design and people are definitely wanting more affordable stock that can rent easily,’’Hobbs says.

The site that’s currently sparking the most interest in Sydney is that slated for Harbour Mill, incorporating the historic Edwin Davey & Sons Flour Mill close to the Anzac Bridge at Pyrmont.

Of the spectacular 139-apartment Ceerose development, 65 per cent will be priced at less than $600,000 with studios (40 square metres to 70 square metres) from $395,000, one-beds (55 square metres to 80 square metres) from $495,000 and one-beds-plus-study (70 square metres to 80 square metres) from $550,000.

‘‘Affordability is probably the primary explanation, but the location is an element as well in its appeal to a certain demographic,’’ an agent with CBRE Residential, Jean-Paul Markopoulos, says.

‘‘The price point is a key driver for state government stamp duty exemption and definitely the demand is there at the moment.’’

The director of developers Cornerstone, Michael Grant, has already tested that market and found it extremely strong for the right product. His 66-apartment Danks Street, Waterloo,
development Casba – of which 32 were one-beds – sold out totally within six weeks, 45 of them on the same day it was launched.

‘‘Affordability was a key but we also offered a very different product,’’ he says. ‘‘There are a lot of one-beds within a five-kilometre radius there and cheaper – in the high $300,000s and mid-$400,000s – than ours, but Casba has beautiful stone floors, big balconies and beautiful curtains billowing in the breeze, all inspired by Morocco.’’

At Erko in Erskineville, there will also be a lot of one-beds in the 300-unit mix, as well as at the 190-apartment Bates Smart development Gantry in Camperdown.

Then there’s Madison, developer Loftex’s latest project in nearby Waterloo, which was originally approved as a 43-unit development made up largely of one- and two-bedders.

‘‘Then we got feedback the market was definitely trending towards smaller, more affordable apartments for the specific reason the high end of the market is slow,’’ says general manager Rob Turchini, who knows of a number of Sydney projects submitting amendments to council to convert three-beds into two one-beds.

As a result, his project has also been amended to shrink the size and price of the two-bedders, and add extra smaller units.

The NSW general manager of residential at Australand,Nigel Edgar, sums up a common reaction: ‘‘Our mix has changed to more price pointed, affordable product and we’re doing less three-bedders.’’

The chief executive of apartments and commercial at Mirvac, JohnCarfi, confirms the trend.

‘‘You invest a lot of time and money getting designs and approvals up, but the issue for apartment buildings is to be nimble enough to adapt to market shifts, even to the point we have made changes during construction because a particular product isn’t selling,’’ he says.
 

Ash007

Alfrescian
Loyal
Sheesh, afterwards all the cheap houses got bought out how?

why got expensive? cheap lelong sale everywhere in aussie lah. :biggrin:



Australia New Home Sales at 17 Year Low
New home sales plummet to 17-year low
The number of contracts signed for new homes fell in March to 5443, down 9.4 per cent from the previous month, a figure only slightly ahead of a similar period in 1995, when then-governor of the Reserve Bank Bernie Fraser raised interest rates across the country.
In New South Wales, sales tumbled 9.7 per cent in March. In Victoria, they were down 4.6 per cent, in Western Australia 12 per cent, and in Queensland they fell 15.3 per cent, the HIA-Jeld-Wen survey shows.
Australian Property Monitors last week said values rose 0.9 per cent in the first three months of this year, but rival RP Data recorded a flat overall trend while another data source, Residex, had prices falling 0.7 per cent.
 
B

Baluku

Guest
You think convict country is first choice for many immigrants?
 

neddy

Alfrescian (Inf)
Asset
Firesale, express sale. Coming your way.


main.jpg
 

The_Hypocrite

Alfrescian (Inf)
Asset
Price Dropping,,wait awhile and come buy hor,,,,1 million aud is less than 1 million sing,,,can get house in spore can only get HDB...


http://www.abc.net.au/news/2015-07-...al-estate-agents-say/6608762?section=business



Chinese property investors in Australia more cautious amid share market crash

PM
By business reporter Sue Lannin
Updated Thu at 7:22pmThu 9 Jul 2015, 7:22pm

The Chinese share market rout is making Chinese investors more cautious and a small number will have to sell their properties in Australia because of share market losses, real estate agents say.
Chinese shares have fallen by 30 per cent over the past few weeks, wiping trillions of dollars off the value of markets.
Michael Pallier, principal at Sydney Sothebys International Realty, said some young investors had been caught out in the share market rout.

He said one of his clients who bought a new apartment in Sydney had lost money on the Chinese share market.
"She was young, she hadn't seen a share market crash before, she was hoping the price would continue to go up of the shares and she made a poor judgement call and she now as a result of that is in some trouble," Mr Pallier said.
"There will be some people who have to sell properties but I don't think very many."
Dominic Ong, the senior director for Asian Markets at property group Knight Frank, agreed that in a small number of cases Chinese investors in Australia would have to sell their properties.
"That is a possibility but to a very, very limited number of investors," he said.
"I don't think that will happen."
Chinese investors prefer to have property than cash, shares

Mr Pallier said the share market volatility in China was prompting more Chinese interest in local properties at the luxury end of the market.
"Last month in our office we sold 20 properties for $115 million turnover in June, of which 25 per cent were sold to Chinese buyers, so we do have a lot of experience dealing with Chinese markets," he said.
He said some of his wealthy Chinese clients moved money out of the Chinese share market before it started falling.
"A lot of people that we deal with have already taken their money out of the stock market and ... because the Australian dollar has dropped ... [they are taking] the money out of China over to Sydney," Mr Pallier told PM.
"They'd rather put the money into a property than put it into cash or into shares."
Mr Pallier said he had one Chinese client with $10 million to spend and another who had shown interest in a $13.8 million house in inner-city Sydney.
But Mr Ong said Chinese property investors in Australia had become more cautious.
"I haven't seen in this particular case where the share market correction caused more investment into Australia," Mr Ong told The World Today in an interview.
"Now, what I have been observing and noticed is these investors have become more cautious on buying property."
Under recent changes to the foreign investment laws, non-residents can buy new homes but not established dwellings with approval from the Foreign Investment Review Board (FIRB).
Temporary foreign residents can buy one established home with FIRB approval.
Foreign investors face fines and jail terms if they break the law.
 

The_Hypocrite

Alfrescian (Inf)
Asset
Come to perth lagi better..rent is cheaper...and got high vacancy rates,,,means more choice,,,

http://www.abc.net.au/news/2015-07-09/perth-rental-prices-drop/6605778


[h=1]Perth's residential rental prices continue to drop[/h] By Gian De Poloni
Updated Thu at 7:24amThu 9 Jul 2015, 7:24am
Photo: A weakened resources sector is being blamed for the drop in Perth rental prices. (ABC News: Kathleen Dyett)
Related Story: Rental vacancies spike in Perth property market
Related Story: Perth rental vacancies rise as population growth falls, low rates encourage buyers
Related Story: WA rental market leaves most vulnerable out in cold

Map: Perth 6000

The average cost of renting a house in Perth has dropped 4.4 per cent in the past three months, according to figures released by real estate marketing group Domain.
The median rent dropped to $430 in the three months to June 2015, compared to the $450 a week tenants were paying in the first three months of the year.
Unit rental prices in Perth have also dropped, from $385 in the March 2015 quarter to $375 in the June quarter.
All figures are based on properties listed with the group in the past three months.
A weakened resources sector and an increase in housing supply has led to substantial drops in the cost of renting in WA over the past year.
Domain chief economist Dr Andrew Wilson said there was no indication of rents picking back up.
"There's really no sign of that shake out in rents that we've seen in Perth over the last year easing," he said.
"It's good news for tenants but not so good news for landlords.
"It's not just a reduction in demand, but that excess in supply which is also putting downward pressure on rents."
[h=2]Demand weaker as migration drops[/h]Domain is reporting rents have fallen 6.5 per cent in the past year.
"I think the fall in rents in Perth reflects what was clearly unsustainable rental growth 18 months ago," Dr Wilson said.
"Rents were growing at very strong levels reflecting high levels of migration, particularly people from the eastern states looking for work from the resource sector.
"So, that surge in demand has weakened now and of course we've seen rents tracking back to what you might describe as more normal levels."
Dr Wilson said prices were also being driven by an increase the number of first homebuyers.
"Perth has one of the highest proportions of first homebuyers in any of the capital cities and of course with low interest rates, first homebuyers in Perth have become more active and that means less demand for rental properties," he said.
Perth's vacancy rates are among the highest in the country, with 3 per cent of homes and 4 per cent of units across the metropolitan sitting empty.
Dr Wilson said it was a different story in Sydney, with rents rising to record levels over the past three months.
"The contrast between Sydney and Perth couldn't be more stark," he said.
"At an average of $530 a week, [there's] really no sign of an easing in rental activity in Sydney despite record levels of new supply and investor activity.
"We're also seeing almost the lowest levels of first homebuyers in Sydney's history."
The Real Estate Institute of Australia, which collects data from all real estate agencies, is expected to release its June 2015 report next month.
 

The_Hypocrite

Alfrescian (Inf)
Asset
Not only perth,,but other cities,,,

http://www.abc.net.au/news/2015-07-...west-pace-since-1995/6609694?section=business



[h=1]Tenants rejoice: Rents growing at slowest pace since 1995[/h]Analysis By business reporter Michael Janda
Updated Fri at 9:38amFri 10 Jul 2015, 9:38am
Photo: A surge in housing supply and in property investment has lifted the number of homes for rent. (ABC News)
Related Story: Rental growth slowest on record says CoreLogic RP Data

Map: Australia

You would not know it from the headlines yesterday, but now is the best time to be a tenant since Wonderwall by Oasis topped the JJJ Hottest 100 two decades ago.
While the news leads screamed, 'Biggest jump in Sydney rents in five years' and 'Rents rise in most Australian cities as investors flood into the housing market', the true picture is very different.
The monthly CoreLogic RP Data rental report to June 30, released today, paints a more realistic picture of the rental market.
That picture is increasingly rosy if you are a tenant, and should be concerning if you are a landlord, especially one who has purchased recently by taking out a large loan.
Over the month of June rents actually fell 0.2 per cent on average across the capital cities, including a decline for the reportedly booming market of Sydney.
During the past year, capital city rents have risen an average 1.1 per cent, which is a fresh record low for the RP Data figures which go back to December 1995.
The latest ABS data show wages increased an average 2.3 per cent over the past year, and overall consumer price inflation was 1.3 per cent, meaning that rents are now falling in 'real' terms and relative to incomes.
We envisage that the growth in rental rates will slow even further over the coming months.

CoreLogic RP Data Monthly Rental Report
The most recent official Bureau of Statistics data, for the March quarter, showed a 2.1 per cent annual rise in rents, but the last time the ABS figures showed an annual rise below 1.1 per cent was the March quarter of 1995.
The main factor driving rental growth lower is the surge in supply of new apartments, particularly in Sydney, Melbourne and inner-Brisbane - in all three cities, rents grew much more for houses than units.
CoreLogic RP Data said the weakness in rents is a simple function of surging supply, as investors make up a record proportion of current property purchases, and slower demand growth.
"The 10-year annual rate of rental growth is currently higher than growth over the past year across each capital city," observed CoreLogic RP Data in the report.
"Sluggish rental growth is most likely due to surging investment demand, record high levels of new housing construction and a slowing rate of population growth nationally."
 

koala88

Alfrescian
Loyal
Rents at record highs in Syd, Melb
Updated: 12:30 pm, Thursday, 9 July 2015

http://www.skynews.com.au/business/...07/09/rents-at-record-highs-in-syd--melb.html

Sydney house rental prices have surged to a record high, while in Melbourne they remain at highest-ever levels.

Median weekly house rents in Sydney hit a fresh record of $530 and unit rents lifted to $500 in the June quarter, according to the latest Domain Group Rental Report, released Thursday.

In Melbourne, house rents remained at a record of $390 a week - a 2.6 per cent lift over the year to June - with unit rents jumping to $370.Brisbane, Adelaide, Hobart and Canberra house rents were flat over the same period, while those in Perth and Darwin fell.

Despite few signs of prices cooling in the rental market, Domain senior economist Andrew Wilson said vacancy rates were improving in some capitals.

The June national capital city vacancy rate was 2.2 per cent for houses, up from 2.0 per cent the previous three months."

The data indicates that increased investor activity and construction may be offsetting the rising demand for rental properties," Dr Wilson said.

"The demand is driven by solid migration levels and low first home buyer numbers.

"Rental yields for investors - the rate of income compared to a property's value - were steady in Sydney, but remain the lowest compared to other Australian capitals.

Dr Wilson said residential returns were continuing to drive property investment but noted that "relief may be on the way for tenants".

"On average, investors are seeing positive returns," he said.

"Residential yields remain ahead of average term deposit rates, which are currently at historically low levels.

"The latest housing data comes after figures from Australia's largest mortgage broker earlier this week showed the number of property investor loans fell in June.

AFG processed a record 11,056 mortgages worth $5.1 billion in June, but only 36.9 per cent were for property investment, down from 40.9 per cent in May.

- See more at: http://www.skynews.com.au/business/...-highs-in-syd--melb.html#sthash.ZgVqt8Py.dpuf
 

koala88

Alfrescian
Loyal
Rents surge in Sydney's prestige suburbs

Date: July 11, 2015

http://news.domain.com.au/domain/re...sydneys-prestige-suburbs-20150710-gi94c9.html

Rose Bay rents are up 35 per cent in the past year.

Every year since the global financial crisis, the rental market in Sydney's most expensive suburbs has flooded with big houses as wealthy homeowners gave up trying to sell. Tenants were spoilt for choice as rents plummeted.

But now, rents are rising. Harbourside Rose Bay has had the biggest rent jump in the past year – 35 per cent.

"There was lower activity in luxury properties after 2007 and people put off buying and selling as a result of lack of demand," Domain Group

"There's now more demand and more turnover, with people starting to make those [selling] decisions they've postponed," he said.

Five-bedroom homes such as 15 Chamberlain Avenue are now commanding $4000 a week – up from $3000 a few years ago and surpassing its previous high of $3700 in 2009.

"It's close to the beach, close to all the good schools and has good transport to the city, with a strong family demographic," said Mitch David, principal of Biller Property Double Bay.

These same features are driving the market in Coogee, which saw a 34 per cent rise.

Jeffrey Lamens Executive Rentals director Lina Lamens says is seeing families snap up homes within two to three weeks of being advertised.

"There's less stock [because] more properties are going up for sale rather than rental," she said.

On the north shore, East Killara had 18.9 per cent jump in rents over the year, Northbridge had 17.7 per cent growth and Wollstonecraft had 16.2 per cent.

Yet it's not just houses that are commanding higher rents – the inner west suburb of Forest Lodge recorded a 28.9 per cent increase in apartment rents which agents attribute to the arrival of Mirvac's Harold Park development, which will eventually have 1200 apartments.

Forest Lodge is now the up and comer of the inner west, said Bresic Whitney leasing executive Chris Tsipidis.

He says the market is so hot that properties are being rented within two weeks of being advertised. It's not uncommon to see 12 groups at an open home and some offering higher than the asking rent.

"With price growth in the inner west, it has left more people in the rental market," Mr Tsipidis said.

Lewisham and Tempe were close contenders, with 24.4 per cent and 20.9 per cent growth respectively.

The worst performers over the 12 months for houses included drops in Killara, 17.5 per cent, and Sylvania Waters, 13.6 per cent.

Apartment areas that saw sluggish rent over the 12 months included Kingsgrove and Mortlake, down 17.6 per cent and 12 per cent respectively.
 

neddy

Alfrescian (Inf)
Asset
A humbling experience.
The economic bust in Perth is not all doom.

It is all down to homework paying off.

Made a tidy profit of $240,000 selling an investment property.
1. Location - where overseas buyers will want to buy.
2. Pricing - migrant budget
3. Costs - build and not buy. Nice frontage, nicekitchen - renovate with vintage industrial lamps. Large rooms, high ceiling - even in garage for large SUV
4. Looks brand new. Eg Past tenant has leaky car, I put thick cardboard on the floor so that the oil don't stain the floor.
5. Easy maintenance. Artificial hard wearing turf. No weeds.

Indian buyer loved the house, the theatre room like Bollywood with double doors and mood LED coloured lights
 

koala88

Alfrescian
Loyal
Price Dropping,,wait awhile and come buy hor,,,,1 million aud is less than 1 million sing,,,can get house in spore can only get HDB...

Hey Hypo,

How is the situation at your end now? Still dropping or what?

At my end, Sydney's eastern suburb, recent transactions are still going strong. 3 bedroom apartments are going between 1.4mil+ to 1.7mil+

http://www.domain.com.au/402-7-black-lion-place-kensington-nsw-2033-2012325578?sp=1
http://www.domain.com.au/707-91-brompton-road-kensington-nsw-2033-2012202593?sp=6
http://www.domain.com.au/804-95-brompton-road-kensington-nsw-2033-2012209022?sp=5
http://www.domain.com.au/603-97-brompton-road-kensington-nsw-2033-2012217899?sp=7
 

Ash007

Alfrescian
Loyal
I agree. However, anyone knows how is it like there?
Any racial discrimination? I've heard of it, but I'm not sure if it happens for all the cities.

How's the anti-asian immigrants sentiment in australia nowadays??!

Asians as in Muslim, maybe now with Pauline in the senate. East asian, much lesser now.

http://www.smh.com.au/entertainment/tv-and-radio/sonia-kruger-is-not-evil-waleed-aly-defends-today-extra-host-calls-on-australians-to-stop-cycle-of-outrage-20160719-gq9ak7.html
 
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