Leeson Valuers welcome Alison Dell into the team as a Registered Valuer, having just completed her submissions and interview with the Valuers Registration Board Qld. Alison commenced as an assistant valuer in August 2021 after completing her Property Economics degree from CQ University and has been a great asset to the team. Congratulations Alison!   ...

Source:  PropTrack Brisbane has led the nation in home price growth over the past month, with values hitting a new record high as homeowners brace for a potential rate hike next week, a new report reveals. PropTrack's latest Home Price Index, shows the city's unit and house prices combined gained another half a per cent in October to hit a new median price peak of $773,000 - almost as high as Melbourne's at $815,000 median.  That's the equal biggest increase for th...

Source:  Australia and New Zealand Property Journal Medium to high-density housing is an increasingly critical component of Australia’s residential real estate market, with CoreLogic’s August data suggesting units comprise 25.9% of national housing stock and around 30.4% of Australia’s capital city housing stock – up from 19.6% and 22.9% at the start of 2010, respectively. Around 30% cheaper than capital city houses, themedian value of $637,593 capital city unit...

Source: Domain In a first, Brisbane is now the second most expensive capital city to rent a unit – jointly with Canberra - after median rents rose to a record high of $550 per week. Brisbane’s median asking unit rent climbed $90 over the past year, or 19.6 per cent, the latest Domain Rent Report for the September quarter,released on Thursday, found, in a record stretch of rent rises that’s fueling extreme rental conditions.  The report showed rental vacancy rates rema...

Source: CoreLogic Rent values rose for the 35th consecutive month nationally in July. However, monthly rent growth has eased over the past four months. In regional Australia, rent value growth has been slowing since April last year, and rents are close to flattening out (albeit at high levels). Slowing rent growth is expected to be one of the key housing market trends next year, for several reasons. Firstly, the cash rate is expected to fall, which could increase investment and first home ...

Source:  Australian Property Journal THE dust has settled with sales stabilising in Queensland’s property market whilst some interesting data show units and regional markets growth is outpacing greater Brisbane.
The latest REIQ quarterly median sales data reveals the median house price increased by 4.62% and median unit prices lifting 3% across Queensland, bringing the year-on-year growth to 5.26% and6.91%, respectively.
Queensland’s median house price reached $650,000, and ...

Source:  Australian Property Journal NEARLY 500 flood-impacted Queensland families have accepted an offer to have their home bought back under the state government’s Resilient Homes Fund (RHF). The program, a jointly-funded initiative delivered through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA), was established in May last year following the catastrophic 2021-22 rainfall and flooding events. To date, 304 sale contracts under the voluntary home buy-back prog...

Source: Courier Mail Five key factors will determine whether the property market “springs forward or falls back” over the back end of 2023 and into next year. 1. Interest rates What the RBA does in September with rates is critical. If they raise them, sentiment will drop and so may prices. 2. Supply and demand An over supply of listings will decrease prices. The best buying opportunities will occur towards the end of the year, when restless vendors will accept offers just to ...

Source: PEXA Mortgage holders adjusting to ‘new normal’ of higher interest rates, while loan refinancing reaches record highs The Reserve Bank of Australia’s (RBA) Board agreed to hold the cash rate steady at 4.10% for a third consecutive month today, increasing hopes that this may be the peak in the current rate-rising cycle, while new data from PEXA shows loan refinances hit record highs this month – but still no sign of a ‘mortgage cliff’. PEXA Chief ...

Source: Domain Renters are facing a “diabolical situation” as unit rents rise more than seven times as fast as wages, and experts warn there is little prospect of relief on the way. Asking rents across the capital cities rose 26.1 per cent for units over the year to June, Domain data shows, soaring above the 3.6 per cent rise in the ABS wage price index over the 12-month period. Median asking rents for houses in the capitals rose by 11.5 per cent over the year, more than three ...