Cities and suburbs in Australia are showing different trends in terms of real estate. While Melbourne is showing signs of growing outwards, Sydney is growing up. What’s in store for an investor? Melbourne has been the best performing city in Australia. No city has grown more than 10 per cent in last 12 months, but Melbourne is the closest to hitting that number. Sydney prices have risen by 49 per cent and Melbourne prices by 36 per cent since the last downturn. The Economist is predicting a 40 per cent fall in Melbourne and Sydney Market, Would this happen? Well, economists have been predicting a housing crash for the last […]
A first home buyer’s chances of buying an entry-level house priced under $400,000 in Sydney halved during the past 12 months, making it the worst city for buying an entry-level home. Melbourne buyers had it much easier, with a third of homes available under $400,000 – down from 40.8 per cent in 2015. In the harbour city, less than 4 per cent of houses in April were advertised under $400,000, compared with 8.6 per cent of homes in 2015, Domain Group data shows. In 2012, 21.3 per cent of houses were priced under $400,000. Domain Group chief economist Andrew Wilson said the $400,000 benchmark typically represented “the homes a first […]
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