Real Estate Investing Advice & Strategies From Experts You Can Trust
Just short of $50 billion worth of major residential construction is taking place across the country. Much of it is in NSW & Victoria.
Whilst Queensland is attracting a lion’s share of new engineering & infrastructure-related construction – sparking a well-known economist to exclaim, on national breakfast TV I might add, that Queensland was “Australia’s powerhouse” – new residential construction remains lacklustre.
But hopefully for not for too much longer. [Read more...]
Like the performance of the capital city detached housing markets, the majority of regional areas across the country have recorded an increase in values throughout 2013.
Of all the regional markets across Australia, only 16 council areas recorded a fall in median house values throughout 2013. This indicates that the majority of regional markets have recorded some growth in values over the year.
This suggests that it is not just the capital city housing markets that are benefitting from the low mortgage rate environment, so too are regional areas.
Looking at the 25 regions nationally that have recorded the largest increase in house values, Carrathool in New South Wales has recorded the greatest increase, up 35.0%.
Last week I wrote an article about 3 surefire ways to lose money in property and it must have struck a chord as tens of thousands of investors read it and many emailed me asking further questions.
This got me thinking about the other ways I’ve seen investors get it wrong.
You see… the unfortunate truth is that most investors fail to reach the objective of financial independence. Statistics show that half of those who get involved in property investment sell up in the first five years and of those who remain in the game, less than ten percent own more than two properties.
As I’ve often said: property investment is simple but it’s not easy.
The Dow Jones was up again overnight, leaving the ‘crash to 3,300′ predictions even further wrong than they were yesterday. If I show contempt for some of the books doing the rounds, that’s because I am contemptuous.
Predicting the future or markets is not a science, and since some people make bad financial decisions based on these spurious predictions, the authors absolutely deserve to be pulled up for their errors.
The world is not linear, and while pulling charts from thin air may look impressive, there is no way to predict markets with such certainty. In any case, you can invent a chart to ‘prove’ anything.
Take our old friend, the good old S-curve. The x axis represents time passing (x to left, y to the sky, remember?), and the y axis cumulative data.
It probably won’t come as a shock to learn that Sydney is among the world’s most expensive cities but another Australian capital has also made the list.
Can you guess which one?
Yahoo reports that the website Expatistan monitors cost of living comparisons in more than 800 cities all over the world.
Here’s a list of the 15 most expensive cities according to their cost of living index.
Each quarter the Australian Prudential Regulation Authority (APRA) publishes data on the exposure of Australian Authorised Deposit-taking Institutions (ADI).
The data is extremely useful as it provides highlights of all outstanding exposures (mortgages) and also some information about those written over the quarter.
Last year the median property price in Sydney rose by 13.4% – meaning that many properties increased in value by over $1,000 a week.
This led to news.com.au suggesting the Sydney property market may be going crazy.
While I don’t necessarily agree it’s definitely worth looking at the reasons they think the market is bonkers: [Read more...]
When a purchaser gets involved in negotiating for a property they’ve fallen in love with, emotions can rule logic.
It’s easy to get caught in the moment and end up paying more than you perhaps should. [Read more...]
Foreign investment here, foreign demand there….foreign in this week’s property news, just about everywhere…..
Did you know that you can be fined for releasing a goldfish in a Queensland waterway? Or that Australia has over 10,000 species of spider?
For more odd facts about Australia read check out the fun infographic below which I found here. [Read more...]
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