Sydney Market Reaches its Peak

by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.

We waited with anxious anticipation for consumer sentiment to improve last year as housing markets should have been performing well in early 2013, but this was not the case. Interest rates were low, which has historically caused property growth spurts. Gradually, sentiment improved and property markets started to show strong growth moving into the last quarter of 2013.

However, recent data indicates that Sydney, the lead indicator market, is starting to look soft and as though it has peaked (see Graph 1).

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Sydney and Melbourne moving to a renter’s market

by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.

Australian dwellings produced a satisfactory result for the year ending December 2013, indicating that the correction phase in the market has come to an end and growth is again presenting.

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Positive news for Australian property

by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.

Tis the season to be jolly’ with this year’s Christmas bringing good news to our property market!

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Residex founder, John Edwards appeared on Switzer TV and said we’re not in a housing bubble and that we shouldn’t expect one either. For his views on this and more, see the interview here… Continue reading »

 

Test your property valuation skills with Fantasy Real Estate

Introducing Fantasy Real Estate (FRE), where you can test your skills at valuing a home and make some money along the way.

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Further rate reductions on the horizon

by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.

It was only about 18 months ago that the housing market was full of gloomy news. Many of the worst performing areas in Australia were on the Gold Coast where there was a significant oversupply of stock and values had fallen by amounts not seen since the Great Depression.

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Markets rebound on the back of rate cuts

by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.

Markets are rebounding on the back of lower interest rates and a lack of available stock for those competing to purchase. In the last quarter, house and land values have increased by 0.59% on an Australian wide basis while units have presented an increase of 1.89%. Graph 1 displays the trend in the data, which is clearly presenting growth.

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Residex founder, John Edwards appeared on Switzer TV to discuss the best places to invest in property inside and outside the capital cities. See the interview here… Continue reading »

 

Median house price in Sydney exceeds $700,000

by John Edwards
Founder of Residex Pty Ltd and Consultant to Onthehouse.com.au.

The latest statistics reveal that there are a number of significant news stories to be told and depending on which way you look at things, the news could be good or bad.

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Rate reduction to help home owners and increase affordability

by John Edwards
Consultant to and Founder of Residex Pty Ltd.

It has been a very busy month with several events and important announcements made.

For me, the budget is what I expected with the important issues and commitments being delayed until the future. In the near term, it could be argued that the budget is negative towards growth. In the medium term it moves to repair some of the structural problems caused by the so-called spreading of the mining boom benefits among the population. It does so through the removal of the baby bonus and the increase in the Medicare levy to help fund the national disability reform. Perhaps this correction will impact on housing markets but I doubt it as no change is significant enough at an individual level to negatively impact on the capacity of a family to buy a home.

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