Excellent news for suburban property owners of real estate nsw, property values increased 4.9% over the December quarter, making the yearly trend for Sydney property 14.3%.
Harcourts real estate CEO for New South Wales Rob Forde claims real estate nsw owners will be euphoric, however he adds that the statistics raise the issue of housing cost for first home buyers."First home buyers are having to come in with an additional AUS$50,000, compared to this time last year and salaries have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first home purchasers active in the outer city limits, with first house purchasers accepting the necessity to commute 50km or more into the CBD. "The average first home purchasers wanting to get into real estate nsw are looking at an AUS$400,000 plus spend, and the closer that spend is to AUS$400,000, the further away from the Sydney CBD they will be. "
Alternatives available to first house purchasers of real estate nsw is to buy an apartment instead of a more expensive free standing home and Forde asserts that this is the option that most younger customers take. Although Forde adds that flats are not cheap either, with new release apartments in the CBD unloading the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first house purchaser keenness with more first house purchasers purchasing real estate nsw than ever seen before, "The big plus for first home buyers is that so long as real estate nsw expands in price, the greater their equity. The first home purchasers of one year ago, now have at least 14.3% more equity in their property than they did when they first purchased. This is an enormous driver for first home buyers, the other motivating factor is low interest rates. "
First home buyers are becoming very leading edge in techniques to come up with capital asserts Forde, "Elders are definitely in the equation, with a lot of parents turning up to auctions or entering into co-ownership agreements with their child and very frequently, the childs partner. Getting into real estate nsw is rather a financial challenge for first time buyers and parents realise they had a far easier time and so are now happy to help their kids out. "
The other common occurrence with real estate nws is the first-time consumer who purchases a property with the objective of hiring it out, in order that they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first householders there are plenty more folks who intend to stay renting ," concludes Forde.
Harcourts real estate CEO for New South Wales Rob Forde claims real estate nsw owners will be euphoric, however he adds that the statistics raise the issue of housing cost for first home buyers."First home buyers are having to come in with an additional AUS$50,000, compared to this time last year and salaries have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first home purchasers active in the outer city limits, with first house purchasers accepting the necessity to commute 50km or more into the CBD. "The average first home purchasers wanting to get into real estate nsw are looking at an AUS$400,000 plus spend, and the closer that spend is to AUS$400,000, the further away from the Sydney CBD they will be. "
Alternatives available to first house purchasers of real estate nsw is to buy an apartment instead of a more expensive free standing home and Forde asserts that this is the option that most younger customers take. Although Forde adds that flats are not cheap either, with new release apartments in the CBD unloading the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first house purchaser keenness with more first house purchasers purchasing real estate nsw than ever seen before, "The big plus for first home buyers is that so long as real estate nsw expands in price, the greater their equity. The first home purchasers of one year ago, now have at least 14.3% more equity in their property than they did when they first purchased. This is an enormous driver for first home buyers, the other motivating factor is low interest rates. "
First home buyers are becoming very leading edge in techniques to come up with capital asserts Forde, "Elders are definitely in the equation, with a lot of parents turning up to auctions or entering into co-ownership agreements with their child and very frequently, the childs partner. Getting into real estate nsw is rather a financial challenge for first time buyers and parents realise they had a far easier time and so are now happy to help their kids out. "
The other common occurrence with real estate nws is the first-time consumer who purchases a property with the objective of hiring it out, in order that they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first householders there are plenty more folks who intend to stay renting ," concludes Forde.
About the Author:
Harcourts Australia offer real estate for sale, land and homes for sale, rentals and commercial leasing, rural property sales, life-style real estate and business right across Australia.
No comments:
Post a Comment