It happens every year. The TV show “The Block” inspires a new wave of investors keen to get involved in renovating and “flipping’ properties. Just to make things clear “flipping” is where you purchase a property and then sell it within a short period of time for a higher price, usually having added value…
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. As either a home buyer or a property investor, it’s critical not to get carried away by your emotions,…
When you buy or sell your house or an investment property, there is an unexpected surprise that is thrown in for free. It’s called buyer’s or seller’s remorse. Call it a lingering feeling, but it can throw shadows of self-doubt which drag down the overwhelming relief and excitement of making a brilliant purchase or sale….
High property prices and increased cost of land have seen demand for new-build duplexes and townhouses explode in Sydney, according to recent Australian Bureau of Statistics (ABS) data. Property prices have steadily increased over the past decade, before soaring during the past 2 years amid the pandemic lockdown. As Australia’s population expands and our suburbs…
All investors know that location is one of the most critical components of any successful property investment. When long-term capital growth is the sought-after reward at the end of the real estate rainbow (as it always should be), it is vital that you not only find the best possible property but the best possible position. In…
As Australia’s property market continues to cool across the nation, more and more properties are not meeting the vendor’s reserve price, so the property is then “passed in.” Auction clearance rates have fallen from the 80% range achieved during last year’s boom to hover closer to 50% or even lower, leaving some homes taking longer…
Site sizes for new build properties have shrunk 13% over the past decade across the five major Aussie capitals, while house sizes remain unchanged. Data from the Australian Bureau of Statistics (ABS) shows that the average site area of new house approvals decreased considerably over the last 10 calendar years, by 64 square metres (-13%),…
![What does it take to be a Billionaire? [Infographics]](https://cdn.propertyupdate.com.au/wp-content/uploads/2022/03/ultra-rich-270x200.jpg)
Who wants to be a billionaire? Have you ever wondered what it takes to become a billionaire? Interestingly over the past two years, the wealth of Australia’s 47 billionaires has doubled to $255 billion. That’s more wealth in the hands of 47 people than about 7.7 million Australians. But how do you become a billionaire? Well,…
What’s behind the recent slump in home building approvals? For two consecutive months now, approvals to build new dwellings have fallen, with the most recent Building Approvals release from the Australian Bureau of Statistics showing that there has been a 2.4% decrease month-on-month in the number of dwellings that have been approved. Digging deeper, the…
Saturday might be the most popular day for property auctions, but it isn’t necessarily the most successful, new data has shown. A recent Domain auction report has shown a surge in demand for midweek auctions, off the back of Australia’s booming property market. Throughout 2021, sales volumes, supply, and prices hit record highs, forcing real…
