Skip to main content

Residential Market

Positives Return to the Residential Market Recent reports by RP Data found a drop in the number of homes listed for sale as well as a slow down in house price growth.

However, a report by PRDNationwide found suburbs close to the Brisbane CBD were showing signs of recovery with Ascot topping the list for house price growth in Brisbane with a 64.1% increase in the median house price for the year to March 2010. St Lucia was close behind with 59.6% growth, followed by Hawthorne at 34.6%.

Meanwhile, research by has found that around 14% of home buyers in Queensland will spend 10% or more above the asking price. The research found a large percentage of people believed rates would rise in the next three months, but they were still prepared to pay a premium.

Brisbane residents have embraced apartment living with the number of owner-occupiers buying units in the inner-city jumping 25% in the past five years. While the number of owner-occupiers accounted for only 25% of apartment sales across inner-Brisbane five years ago, in the past 12 months that number has jumped to about 50%.

The unit market is still performing well with values increasing 1.9% over the June quarter and 7.9% in the year to July. For the remainder of 2010 and into 2011, the recover in economic growth and the continued population growth should continue to drive the market.
Tara Downey is Communications Officer for McGees Property, Brisbane. She has a media background spanning more than 10 years with working experience in business reporting, travel writing and newspaper journalism. McGees Property specialises in commercial real estate with our successful and highly skilled sales, leasing, valuations and professional services, and asset management teams

Comments

Popular posts from this blog

real estate agent

Houston is the largest city in Texas and also is the county seat of Harris County. The city limits spill over into Ft. Bend and Montgomery counties. It is one of the newest cities in the U.S., and also one of the most-rapidly growing. It is the commercial and artistic center of the urban area. Houston is known the world over for aeronautics, energy, and its shipping channel. Houston is one of the busiest ports in the United States, and it is also home to the Texas Medical Center. There are many cultural, entertainment, and business facilities in the city.Houston is one of only five American cities which offer visual and performing arts year round. Many people relocate to Houston just for that reason. In doing so, they need the help of a real estate agent in Houston to find their perfect new home. An agent will also be able to give them information about the school district, including faculty/student ratios and test scores at all levels. In order to help people who are interested in pur...

corporate Office Refurbishment

An office refurbishment can provide enormous benefits to staff productivity and morale when completed but it can also sap time and enthusiasm from your staff whilst the process is being considered, planned and finally underway. Maybe an office refurbishment is required to improve space ratios and take advantage of smaller footprint workstations, or just to bring your office environment up to a modern standard and to rearrange existing team structures. Or possibly an office refurbishment project is necessitated due to a relocation, or the opening of a new office or the merger of two companies or two previously discrete locations. Whatever your reasons for undertaking an office refurbishment there are a number of steps to overcome to ensure that your project creates the:   Right outcome In the right timescale And for the right price If you can achieve all these then you should be well on the way to a successful refurbishment project and advance planning and attention to detail throughout...

Studying the Effects of MDIA

There was a first law enacted in July 2008 before the Mortgage Disclosure Improvement Act or MDIA was created. The MDIA was a spin off of the first law and it came into effect on July 30, 2009. The Mortgage Disclosure Improvement Act was supposed to take effect not in July 2009 but in October 2009. The early implementation of the said law by the federal government came as a surprise to all professionals such as real estate agents, brokers, banks, lending institutions and borrowers as well. The dictates the closing time span with regards to the home loan. Before this act was implemented, the normal process of applying for a loan starts out when the commercial bank or other lending firms gives out a good faith estimate or a truth in lending to the borrower. This process is done after the borrower has filled up the standard application form. The good faith estimate only takes about three working days to be sent out by the bank to the borrower. The new law, MDIA, on the other hand, cancels...