There are more interesting 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 ones I’ve read during the week.
The weekend will be over before you know it, so enjoy some weekend reading…and please forward to your friends by clicking the social link buttons.
Sydney prestige auction market surging
Sydney house prices only seem to rise, yet so do the amount of buyers trying to purchase them.
According to an article on Domain.com.au auction results have seen some of the most prestigious suburbs in Sydney skyrocket in sale volumes.
The Sydney prestige home auction market continues to rise, recording another year-high result as hungry buyers scramble to secure high-end property.
Sydney reported an extra-strong prestige auction clearance rate of 78.1 per cent last week which was well above the previous week’s year-high mark of 75.4 per cent and also significantly ahead of the 72.2 percent recorded over the same period last year.
Last week’s result is again the highest rate reported by the prestige market since October last year.
64 prestige property auctions were reported in Sydney last week which was slightly lower than the previous week’s 69 auctions and predictably well down on the 133 recorded over the bumper pre-Easter market that fell over the same week last year.
Sydney’s prestige home auction market accounted for 12.7 per cent of total auction activity reported last week which was lower than the 13.7 percent recorded the previous week and also lower than the 16.0 per cent recorded over the same week last year.
The Sydney prestige auction market recorded a median sale price of $3,050,000 last week which was higher than the previous week’s $2,875,000 result and 29.8 per cent higher than the $2,350,000 reported over the same week last year.
Read the full article here
When and how to dump a dud property + The APRA type boom + Protection in a relationship bust up
Another great Real Estate Talk show produced by Kevin Turner.
Michael Yardney discusses how do you find out when you’ve got a dud, and then what do you do about it? When to sell, and when to hold a property?
Shannon Davis talks about the restrictions that the banks are currently putting on lenders is probably one of the biggest concerns for property investors right now.
Nerida Conisbee chief economist with the REA Group, discusses the pros and cons of the Victorian Government’s affordability scheme.
Patrick Bright talks abouthow to perfect your auction bidding strategy
Zaki Ameer real estate expert and founder of Dream Design Property, discusses how to protect your portfolio in a relationship break up.
If you don’t already subscribe to this excellent weekly internet based radio show do so now by clicking here.
House prices frothy
Housing price increases seem to be taking over headlines on a daily basis, and there’s no showing of a slowdown.
Prices up strongly in Q4
The average price of a home rose by $78,900 in New South Wales in 2016, and by $54,300 in Victoria.
On the other hand average prices fell by $25,300 in Western Australia, and by $24,900 in the Northern Territory.
A proper mixed bag, you might say.
Residential property prices rose by 4.1 per cent in Q4 2016 – right at the top end of the range of market forecasts – to be 7.7 per cent higher in 2016.
Melbourne (10.8 per cent), Sydney (10.3 per cent), and Hobart (8.8 per cent) recorded the strongest growth over the year.
Prices fell by a further 1.5 per cent in Darwin, to be 7 per cent lower over the year, but there was another signal that Perth might be a step closer to turning a corner, with prices nudging marginally higher in the fourth quarter of the year.
The headlines will quite rightly generally speak of a divergence in price growth with Sydney and Melbourne leading the way by far.
That said, looked at another way and over a longer time period, price growth may arguably be converging.
Read the full article here
Why accessing super to buy a home is never going to happen
With the never ending rise of housing prices, buyers are looking at all alternatives possible to secure their place in the market.
But while the latest proposed trend has been to access super – this article from Money Magazine explains why that’s not likely to be an option.
The recent hikes in the value of property on the eastern seaboard of Australia has prompted many pundits to call for access to superannuation to address the issue of housing affordability for young people.
With the median house price in Sydney smashing through the $1 million barrier, first home buyers need every bit of help they can muster.
But there’s no shortage of opposition to the prospect of raiding the superannuation piggy bank to buy a house.
After all, super is for retirement.
Under current legislation, the preservation age of superannuation is age 60 for anyone born after July 1964.
60 is a long way away for a 30 year old who needs a roof over their head so why not just give them access to their super – it’s their money anyway.
Yes, it’s their money but on November 9, the federal government introduced legislation to enshrine the objective of superannuation to have a reference point, or high water mark, for any debates on superannuation.
The objective of superannuation is “to provide income in retirement to substitute or supplement the age pension”.
Further, superannuation, by definition, is a low-taxed savings structure designed to fund your retirement.
Based on this it’s going to be a tough case to argue for those wanting to allow access to super for homes.
Pauline Hanson thinks it’s a great idea as quoted in parliament and on Channel 7’s Sunrise where she went head to head with Derryn Hinch.
Virgin Australia will launch its Hong Kong service from Melbourne in July
We all consider ourselves extremely lucky to be living in Australia, the only downfall has been long flights with multiple stopovers when travelling overseas.
But as reported in this article form Business Insider, that’s slowly beginning to change- with the launch of the first direct flight service to Hong Kong.
Virgin Australia will launch direct flights to Hong Kong in early July, taking off first from Melbourne.
Last month the airline announced an alliance deal with three Chinese airlines to create a codeshare network into China, as well as launching new direct services to Hong Kong and mainland China.
Virgin Australia CEO John Borghetti called it a game-changer, offering competition and choice for travellers.
“Virgin Australia’s entry into Hong Kong and Greater China is a key pillar of our international strategy, allowing us to tap into Australia’s fastest growing and most valuable inbound travel market,” he said.
Flights from Melbourne to Hong Kong will start on July 5, subject to regulatory approvals.
Virgin Australia will operate five return services per week on Monday, Tuesday, Wednesday, Thursday and Saturday, ex Melbourne.
Bookings can be made from tomorrow, March 22.
Singapore Airlines currently provides the airline’s codeshare flights and that alliance will continue.
China is also a lucrative market for Victoria with both the top international visitor numbers and overall expenditure, with almost 570,000 visitors spending more than $2.4 billion in 2016. Melbourne Airport international passengers rose 9.5% in 2016 on the previous year to 9.2 million.
Click here for the full article
Weekend video: The Scientific Power of Thought
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