Housing affordability is now at its best levels since 2016, the inaugural Housing Affordability Report from CoreLogic and ANZ has found.

Sales activity has fallen 17% over the year to February 2019, according to the latest CoreLogic Regional Report.

The report, produced with figures from the December 2018 quarter, has noted housing affordability over the last two years has been improving much faster than it had declined over the past decade.

Sydney is described as being “overwhelmingly” the least affordable market to buy in, the report notes, followed by Melbourne. Darwin is the most affordable capital city.

Regional New South Wales is also the least affordable regional market across the country due to the strong value growth over recent years.

For the first time, Hobart is the least affordable capital city to rent.

CoreLogic’s head of research for Australia Cameron Kusher says the end of the housing downturn has had to be adjusted.

“The recent drop in property values follows a long period where prices increased at a much faster pace than household incomes,” Kusher noted.

“We predict that price falls will settle later this year, followed by modest price growth starting from 2020,” Mr Kusher said.  

Kate Gibson, ANZ’s home owners lead, says some areas it is more affordable to buy than rent. 

“Buying a home is an aspiration for many Australians and for the first time, we’re seeing suburbs and towns in every state where it is more affordable to buy than rent.

“This shift, combined with record low interest rates, is driving more first home buyers to look at entering the market.

“For the first time in fifteen years most buyers are not chasing a rising market,” Gibson said.

Albury in regional New South Wales is one of the areas where it is more affordable to buy than rent.

Some 26.8% of household income goes on a rental home, however to service the repayment of an 80% LVR mortgage is only 25.4% of household income.

Broken Hill and the Far West area has one of the biggest gaps between rental and mortgage repayments.

Some 25.9% of a household income goes on a standard rental, whereas only 9.2% of household income would go on servicing a mortgage.

In regional Victoria, Glenelg and the South Grampians cost 24.3% of household income to afford to rent, as opposed to the 19.4% repayments on a mortgage.

It is cheaper in Gippsland East, Latrobe Valley, Loddon, Maryborough, Mildura, Moira, Murray River, Shepparton and Wellington to repay a mortgage than to rent.

There are no areas in Sydney and Melbourne’s CBD ring that it is cheaper to pay off a mortgage than rent, however there are a number in Brisbane.

Beenleigh, Caboolture Hinterland, Ipswich Hinterland and the Springwood Kingston region are all more affordable to have a mortgage than rent.

Sales activity has fallen 17% over the year to February 2019, according to the latest CoreLogic Regional Report.

The report suggests it was the largest fall recorded across all five regions in Queensland. 

Of the 15,475 dwellings that transacted, 43% were houses, while 57% were units. Gold Coast home values are down slightly when compared to March 2018, with house values falling -2.8%, while unit values are down -0.4% over the year. Of the 15,475 dwellings that transacted, 43% were houses, while 57% were units.

The advertised rental rates across the region increased by $20/week for houses and $10/week for units over the year, an increase of 3.7% and 2.4% respectively.

The average home is taking an additional 14 days to sell for houses and 13 days for units when compared to February 2018, while the average vendor discount has increased to

The advertised rental rates across the region increased by $20/week for houses and $10/week for units over the year, an increase of 3.7% and 2.4% respectively.

The average home is taking an additional 14 days to sell for houses and 13 days for units when compared to February 2018, while the average vendor discount has increased to -6.4% for houses, and -6.3% for units over the same period.

The CoreLogic Regional Report reveals challenging property market performance across Australia’s regions, with falling sales activity in the 12 months to February 2019.

-6.4% for houses, and -6.3% for units over the same period.

The CoreLogic Regional Report reveals challenging property market performance across Australia’s regions, with falling sales activity in the 12 months to February 2019.

About ljgrealestate 据联大

Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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