Sydney land prices now rising faster than houses

21 February 2015: Sydney’s median residential land price increased by 19.7 percent over 2014 and the city clearly remains the most expensive of all the state capitals, according to data from the Domain Group. The December quarter median land price of $390,000 was well ahead of Melbourne at $245,000 and Brisbane $237,950. Dr Andrew Wilson, Senior Economist, Domain Group, commented; “Sydney’s annual land prices increased at the fastest rate in over a decade and recorded stronger growth than...
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Ten Tips for Picking Property Hotspots in Australia

The biggest skill an investor can have is to know how to predict the market. Obviously no one has a crystal ball and no one can predict with 100% certainty what's going to happen, but there are ways to form an educated opinion. And let's face it, choosing an investment based on an educated opinion is better than taking a stab in the dark, which is what many investors do. So how can you predict the property market? The best way to make money in real estate is by investing in the hot spots. Tha...
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Western Sydney Property Prices to Outgrow the Nation

Western Sydney will prove to be one of the nation’s property investment hotspots next year, according to a recent report by SQM Research. The Western Sydney Regional Report, gives Sydney’s west a score of 4.25 stars out of five, and forecasts that the area will outperform most Australian regions next year. Western Sydney’s property prices are expected to grow by between 2.6% and 6.6% in 2012, says the report, thanks to various factors. These include: Significant regional development ov...
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Mortgage stress in Brisbane and Melbourne

Last week you might recall that I was sympathising with Sydney-siders who have the worst mortgage stress in Australia. Apparently a lot can happen in a week because the new figures are now showing that Sydney people are no longer the worst off - this dubious honour now goes to mortgage holders living in Brisbane, with those paying off home loans in Melbourne being very close behind. Of course, many Sydney mortgage holders are still struggling but they're no longer top of the table! According ...
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Sydney-siders top for mortgage stress

If you've got a home loan and you live in Sydney, then unfortunately you win as belonging to the group of Australians suffering most from mortgage stress at the moment. Mortgage holders in Brisbane and Melbourne, on the other hand, are apparently in the best situation, all according to a recent Moody's survey. Sydney-siders with a mortgage have the highest rates of delinquency, defined in the survey as being more than 30 days behind with repayments (in other words, missing one or more mortgag...
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Mortgages in Australia aren’t as easy as they say

The experts are trying to make the mortgage situation in Australia sound all optimistic - they think interest rates won't rise too much and they suggest that plenty of Australians are still able to cope well with an existing mortgage or to enter the home loan market for the first time. But just because Australia may not have been as badly affected by the global financial crisis as many other countries, that doesn't mean that mortgages are easy for everyone, as news this week makes absolutely cle...
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Experts more optimistic than us on mortgage rate rises

Surveys are showing that as individuals, mortgage holders like me are more pessimistic than the experts about how many interest rate rises we are going to have to pay out for in the next year or so. I guess those of us who are the ones who'll have to dig deeper in our pockets are more likely to be concerned about this, and it translates into statistics stating that consumers believe there will be at least three rises in interest rates in the next twelve months. The relevant surveys came from ...
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Want to be a first homeowner? Affordability study says you’re too late

If you're not a member of the Australian mortgage (chain) gang yet, a study released this week might be bad news for you. According to the quarterly Housing Industry Association-Commonwealth Bank first home buyer affordability index study which was just published, affordability for buying a house (and the accompanying mortgage) in Australia has got worse again, and first home buyers might really struggle to break into the market. The statistics are quite shocking: the December quarter shows a fa...
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Generation Y can pay mortgages, no problem!

With mortgage interest rates starting to rise, a lot of people are starting to think about buying their first property or upgrading to their next home. With a good chance that interest rates will rise again before Christmas, the media is getting on board too with plenty of surveys, advice and features about who will be buying, where, and how they will afford to pay their mortgage back. An interesting story to come out in the Sydney Morning Herald this week reports on a survey of Generation Y ...
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