Figures released today reveal nine out of ten sellers made a profit when they sold their property during the March quarter.
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The CoreLogic Pain and Gain March report revealed the median hold period on the Coast was eight years while the median profit was $116,000 — up $6000 over six months.
Last year, almost 16 per cent of Gold Coast homeowners were selling at a loss, but the latest report revealed that figure dropped to 9.9 per cent.
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Credit rating agency Moody’s has downgraded a dozen Australian banks, including the big four, citing increased risks in the nation’s increasingly indebted households.
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The big four Australian banks, which operate BNZ, ANZ, Westpac and ASB in New Zealand, have had their ratings downgraded by Moody’s.
As hard as it might be to believe for Aussies and Kiwis looking to get a foot on the property ladder to believe, one city in particular has sought inspiration from Australian housing policy and seen an almost 20 per cent drop in house prices.
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Vancouver downtown city in British Columbia. Photo / 123rf
This is the third time the couple has tried to sell their St Kilda Road apartment in six years, according to The Sunday Telegraph.
Set on levels 19 and 20 of the luxurious YVE building in Melbourne, the property has an asking price of $10 million.
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Bec and Lleyton Hewitt sell multi-million dollar luxury apartment St Kilda Road, Melbourne
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Earlier this month, Treasury Secretary John Fraser says there’s ‘unequivocally a house price bubble in Sydney’
Construction of new apartments is picking up pace but still lagging behind what is required to house a growing population, particularly in Auckland.
Some 2770 apartments are set to be completed in Auckland in 2017 – the largest number since the 2005 peak, when 3600 apartments were finished.
Even more apartments will become available next year, when a record 3840 are due to be completed.
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In Australian cities like Sydney, high-rise living is common.
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One such person is Paul Linabury, 30, from Western Australia, who has just purchased a three-bedroom house in Niseko, Japan for $90,000 with his partner and two other couples.
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West Australian man Paul Linabury, 30, recently purchased a house in Japan
The fall was led by declines in Sydney and Melbourne of 1.3 per cent and 1.7 per cent respectively, according to CoreLogic’s latest home value index.
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Now in his 44th year of selling houses ‘one at a time’, one of America’s top real estate agents, Bob Wolff, has amassed over $1.2 billion in sales.
And just a few minutes in to his energetic and inspirational presentation at AREC 2017, it was clear to see why.
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Bob Wolff at AREC with John McGrath of McGrath Real Estate. Picture: Matthew Foster.
An Australian asset manager is liquidating its Australian shares funds and returning “hundreds of millions” of dollars back to its clients, citing an impending property market “calamity” and the “overvalued and dangerous time in this cycle”.
“We think that there is too much risk in this market at the moment, we think it’s crazy,” said Philip Parker, who serves as Altair Asset Management’s chairman and chief investment officer.
READ MORE: Housing bubbles – who loses the most when they pop?
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“Australia hasn’t had its GFC event, we’ve been living in this fool’s paradise,” says Altair Asset Management chairman and chief investment officer Philip Parker.
Watching Sydney’s property prices climb to stratospheric heights, Pam and Steve Brossman could not help but kick themselves over the decision to sell their Mosman apartment.
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Filed under Australian Property & Real Estate News, International Property News, Uncategorized
It’s a point one of Brisbane’s million dollar agents was keen to point out as he addressed the Australian Real Estate Conference 2017 on the Gold Coast.
But that’s not the only reason Matt Lancashire got into real estate.
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Matt Lancashire – Ray White QLD real estate agent and guest speaker at AREC17
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Filed under Australian Property & Real Estate News, Real Estate Agent News, Uncategorized
Chinese investors are snapping up a quarter of new properties on the market as younger, cashed-up buyers arrive.
They are part of a growing number of foreigners casting their eyes to Australia as a nearby source of wealth with an enviable lifestyle.
‘We say limited English, unlimited bank accounts,’ Melbourne real estate agent Tim Heavyside told Sunday Night of many buyers – even in the outer suburbs.
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Real estate agent Monica Tu said she was selling the ‘Chinese Australian lifestyle’, which was the biggest appeal for any wealthy investor
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Filed under Australian Property & Real Estate News, Homes & Property New Zealand, International Property News, Uncategorized
The Australian Budget earlier this month removed an exemption from capital gains tax on a main residence for foreign and temporary tax residents.
New Zealanders who already own a home would not have to pay the tax if they sold the home before 2019.
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Two former LJ Hooker real estate agents charged over trust fund rip-offs helped themselves to $4 million but repaid some of it, a court has heard.
Tri Duc (Joseph) Ngo and Truc Thanh (Judy) Nguyen are charged with misappropriating funds, after the final loss was calculated at $2.1 million.
Joseph Ngo has indicated he will plead guilty to about 300 charges, but his wife, Judy, may fight the charges.
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Judy Thanh Truc (also known as Judy Nguyen) has been named as the business development manager at a newly-created firm. Photo: Supplied
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Filed under Australian Property & Real Estate News, International Property News, Real Estate Agent News, Uncategorized
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