In this week’s two minute property investment news video I talk about RPData’s dwelling value results for the 2014 financial year.
The results are in and it’s official – Australia’s capital city dwelling values ended the 2014 financial year up 10.1 per cent, according to the RP Data Rismark Hedonic Home Value Index.
Sydney saw 15.4 per cent in gains while Melbourne had a growth of 9.4 per cent. Filling out the top spots were Brisbane at 7 per cent, Darwin at 5.7 per cent and Perth at 5.2 per cent.
Throw in rents and things look even better with Sydney showing a staggering 20.2 per cent gross total return for property during the financial year.
At the same time, Sydney is seeing growth elsewhere. Transport Oriented Development is very popular and the Hills Shire in New South Wales is set for additional benefits from the North West Rail Link.
Bella Vista, Kellyville and Showground are three new stations from the infrastructure project, and they’re earmarked for urban renewal plans by the state government.
The NSW Minister for Planning, Pru Goward, says there’s potential for the areas to accommodate up to 19,000 jobs and 12,000 homes.
The Minister says the precincts will receive up to $15 million in NSW Government funding for local infrastructure tool.
Finally, everyone knows about delaying gratification for the long-term benefits of property investing, well now Mortgage Choice has analysed those investors taking steps to secure their first portfolio purchase.
The Mortgage Choice First Time Investor survey showed a massive 74.3 per cent of respondents said one of the first things they’d do is pull in the pursue strings in order to afford an investment, while 56.3 per cent suggested they’d ‘eat out less’ and 25.7 per cent said they’d cut back on ‘alcohol related spending’.