There are more property investment articles, commentaries and analyst reports on the Web every week than anyone could read in a month.
Each Saturday morning I like to share some of the interesting ones I’ve read during the week.
Enjoy your weekend…and please forward to your friends by clicking a social link buttons on the left.
Property Trends for 2014
SmartCompany recently summarised APM chief economist Andrew Wilson’s forecasts for the coming year in property.
In short: House price growth will slow, but Brisbane will Boom. Here are his five predictions for 2014.
1. House price growth to slow
Sydney and Melbourne were the hot markets in 2013, but this is set to change in 2014. Wilson says the level of growth reached in 2013 will be difficult to sustain.
Markets will start well, there is still a lot of energy in the market, but this will moderate and we’re looking at likely growth rates of about half of what was achieved in 2013 in Melbourne and Sydney
2. Brisbane and Perth – the new hot spots
The Brisbane market is still in catch-up mode, but the Queensland economy is ramping up with regional centres recording growth. There will be an increase in job seekers in Queensland too, as they shift from Melbourne and Sydney where the jobless rate is higher.
3. Clearance rates to moderate
Wilson says one of the early signals of the market starting to moderate will be clearance rates falling back from high percentages in Melbourne and Sydney.
4. Suburbs to watch
Sydney’s prestige market had lagged behind the rest in 2013, but it’s expected to pick up pace in 2014.
5. Owner-occupier versus investors
Each city has its own property market characteristics and in 2013 investors dominated the Sydney market, while owner-occupiers were more prevalent in Melbourne
Will the property market slow down in 2014? | Where is our population growing? | Do real estate agents lie? |What’s going to happen to interest rates?
Another great Real Estate Talk show produced by Kevin Turner. If you don’t already subscribe to this excellent weekly Internet based radio show.
Details of this week’s show:
Louis Christopher explains why he sees no slowdown in the property market ahead
Cherie Barber tells us about multi-purpose rooms
Andrew Mirams answers our questions about fixing part or all of your loans
and many more guests.
You should definitely subscribe to this weekly audio program. Click Here It’s free and you can listen on the go on your smartphone, iPad etc.
Pete Wargent’s explains the 3 (or 4) stages of the property cycle
Probably one of the best blogs I’ve read this week was from regular Property Update blogger Pete Wargent as he explained the drivers behind the property cycle.
It’s an interesting blog worth reading, not because he mentions me, but because he gives some great insights plus his views on where each state is in it’s own property cycle.
2013’S Biggest Property Losers
Your Investment Property Magazine reports 2013’s worst performing property markets include a mix of suburbs in Cairns, Albury and the Sunshine Coast, but perhaps the most surprising markets to lose wind over the year were suburbs in Gladstone, Qld.
Many property pundits had forecast in 2012 that Gladstone house and unit values would see strong growth over 2013 because of billions of dollars in infrastructure projects being diverted into the city economy.
However, an excessive level of building saw certain Gladstone markets become oversupplied with properties and the opposite happened – values tumbled.[sam id=37 codes=’true’]
The Gladstone areas to be worst affected include Glen Eden and the city’s CBD.
Queensland’s Moranbah, a small mining town within the Isaac region, has also seen a remarkable downward shift in prices – largely as a result of a growing FIFO workforce that is circumventing the town as a source of accommodation.
Among the top 20 worst performing markets over 2013, three were in NSW, nine were in Queensland, three were in WA and two were in SA. The ACT, Victoria and Northern Territory each had one market.
2013’s worst performing property markets were:
Tips for buying in a hot market – John McGrath
Property guru John McGrath have his tips for buying in a hot market in his regular column in Switzer.
- Registering on major portals is not enough. You might think registering your buying criteria on realestate.com.au and other major portals will ensure you see every new listing. But that’s not always the case. It’s important to register your criteria with individual agencies because they’ll put you on their database and you’ll usually be contacted before new properties are even advertised. In a hot market, many homes never make it to their first public open.
- Get a great team around you.
- Take comfort in the competition. Competition is social proof that the property you want is worth fighting for! If you secure the home, you can also look forward to buyer competition later down the track whenever you decide to sell
- Stretch your budget – but not too much.
- Tell the agent you’re interested. If you don’t make your interest known right away, you might not get the chance to make an offer.
- Look next door. If you’re continually missing out on properties, consider the suburb next door.
- Make good offers. Don’t muck around in a hot market. Start with an offer that is close to your walk-away figure.
Blogs you may have missed this week:
If you didn’t have a chance to read my daily blog, here’s a list of the blogs you missed this week:
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