Quarterly Property Report 2019

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Quarterly Property ReportWelcome to Toop&Toop’s Quarterly Property Report Q2 2018/2019Happy 2019. We can’t wait to see what the new year brings for real…
Quarterly Property ReportWelcome to Toop&Toop’s Quarterly Property Report Q2 2018/2019Happy 2019. We can’t wait to see what the new year brings for real estate! At this time of year, everyone is interested to know what the predictions are for the property market over the next 12 months. Adelaide house prices ended 2018 on a high despite the nation’s overall property market reporting its biggest slump since the global financial crisis. Will this strength continue in 2019? Where are the hot suburbs to buy in? Is it a good time to sell? Our Quarterly Property Report discusses the quarter that was and what’s ahead. We talk about the national property market, our local Adelaide market and what Team Toop is finding out on the ground. We hope you find the information useful for your own property journey. If you have any questions or would like any additional information, please get in touch. We would love to hear from you.Australian Property Market Looking to the national market National dwelling values fell for the 13thChart-lineconsecutive month in November 2018, recording a -0.7% decline which was their largest monthly fall since December 2008.Home-HeartAdelaide and Canberra were the only cities in which sales volumes rose over the year of 2018. Official interest rates remain at 1.5%, howeverfile-invoice-dollarvariable mortgage rates have edged higher in both September and October, reflecting out of cycle rises from some lenders.  “Investors and buyers are facing tighter than usual lending restrictions which has impacted the overall property market.” – Suzannah Toop, CEO Property Investment & FinanceThe value of Australian housing sits at $7.6 trillion Residential Real Estate$7.6 Trillion Australian Superannuation$2.7 TrillionAustralian Listed Stocks$2.0 TrillionCommercial Real Estate $964 Billion As at the end of November 2018100.0%4,50090.0%4,00080.0%3,50070.0%3,00060.0%2,50050.0%2,00040.0%1,50030.0% 20.0%1,00010.0%5000.0% Dec-08Dec-10Dec-12Dec-14Dec-16Number of auctionsClearance rateNational Auction Clearance Rates0 Dec-18 Source: CoreLogicCapital City Auction Statistics CityClearance RateTotal AuctionsCoreLogic auction resultsCleared auctionsUncleared auctionsSydney41.3%870763315448Melbourne43.8%1,2831,183518665Brisbane22.4%17014733114Adelaide42.3%1521275473Perth22.5%5340931Tasmanian.a.3202Canberra43.7%100873849Weighted Average41.0%2,6312,3499671,382Week ending 16 December 2018The latest pain and gain report, released September 2018 This is a quarterly analysis of residential properties which were resold over the quarter. It compares the most recent sale price to the previous sale price in order to determine whether the property sold at a gross profit or gross loss.The latest CoreLogic Pain and Gain report found that although the vast majority (88.9%) of Australian residential properties resold for a gross profit over the September quarter, this was actually the weakest quarter for profit making resales since the three months to August 2013. PainGainPainGainSydneyRegion4.0%96.0%5.6%94.4%Regional NSW4.3%95.7%6.7%93.3%Melbourne1.7%98.3%12.7%87.3%Regional Vic4.1%95.9%5.6%94.4%Brisbane3.8%96.2%29.2%70.8%Regional Qld17.5%82.5%21.7%78.3%Adelaide6.7%93.3%13.9%86.1%Regional SA20.5%79.5%44.4%55.6%Perth28.9%71.1%45.5%54.5%Regional WA40.2%59.8%63.0%37.0%Hobart0.8%99.2%0.6%99.4%Regional Tas8.4%91.6%7.9%92.1%Darwin38.1%61.9%60.3%39.7%Regional NT21.478.6%47.2%52.8%Australian Capital Territory2.1%97.9%17.6%82.4%National9.2%90.8%16.4%83.6%Cap city7.9%92.1%15.9%84.1%Regional10.9%89.1%17.4%82.6%“An improving SA economy should have positive flow on effects to the residential market through better employment prospects and income growth.” – Anthony Toop, ChairmanAdelaide Property Market Looking locally Dwelling values in Adelaide increased by 0.2% over the three months to November 2018 and they are 1.4% higher over the past year. Adelaide house values were 1.4% higher over the past year while unit values were 1.3% higher. Adelaide house prices ended 2018 on a high despite the nation’s overall property market reporting its biggest slump since the global financial crisis. South Australia’s robust economic growth and affordable dwelling prices were positives for the residential market. CoreLogic Senior Research Analyst Cameron Kusher said despite Adelaide’s marginal growth, it remained one of Australia’s most affordable capital cities. Rental growth for both houses and units remained solid over the quarter.“It is predicted that in 2019 Adelaide will be a standout capital city market with 71 growth suburbs.” –Genevieve Toop, CEO Sales & MarketingAdelaide’s Key Economic Indicators AustraliaSouth AustraliaState Final Demand Growth Year-ended to 2Q183.4%3.7%Retail Turnover Growth Year-on-year to 20182.8%3.5%Population Growth Year-ended to 1Q181.6%0.7%Employment Growth Year-on-year to Oct 20182.5%2.1%Adelaide’s Demand Indicators Hot Suburbs (average days on Market)OverallAffordablePrestigeHousesUnitsSemaphore (8 days)Fullarton (14 days)Goodwood (9 days)West Lakes (19 days)Colonel Light Gardens (13 days)Seaton (29 days)Broadview (14 days)Ascot Park (30 days)Glengowrie (19 days)Broadview (30 days)Salisbury Park (22 days)Wynn Vale (18 days)Gawler (25 days)Payneham (22 days)Salisbury Plains (29 days)Woodville (23 days)Burton (30 days)Marleston (28 days)Parafield Gradens (32 days)Morphettville (28 days)Glen Osmond (22 days)West Lakes (19 days)Hyde Park (25 days)Norwood (32 days)Kingswood (32 days)North Adelaide (39 days)Glenunga (43 days)Glenelg (72 days)Unley (56 days)Adelaide (82 days)What Team Toop Are Finding Team Toop had over 9,669 groups through our 2,227 open inspections last quarter and here’s what we foundPiggy-bankThe banks are continuing to tighten up in terms of lending and requirements to borrow money.clockBuyers are very particular and are willing toHand-holding-usdInvestors are shifting towards Adelaidewait until the right property hits the market.rather than Sydney or Melbourne because of the affordability and value for money.“There is no doubt this new way to sell your home is leading the way in real estate marketing”. –Genevieve Toop, CEO Sales & MarketingTHAN THE INDUSTRY AVERAGE20% of Toop&Toop properties sell before they reach the public market.Last quarter our reached 14,300 members That is 14,300 buyers being notified daily about our clients’ properties both before they hit the market and again when publicly launched.Adelaide’s Top End Market According to CoreLogic data to December 12, the top verified sale of 2018 was 68 Battams Rd, Marden, which sold off-market with Toop&Toop for $5.3 million.Sold by Jordan Begley & Sally Cameron68 Battams Road | MardenUnley Park 2,787Toorak GardensJoslin 2,286*realestate.com.au1,972Dulwich 2,288Rose ParkMedindie 3,5873,098College Park 2,850783SA suburb averageViews online per suburb* (monthly average)Most in demand suburbs in Adelaide Unley Goodwood Stirling Crafers Prospect Henley Beach Unley Park Glenside Hawthorn ParksideAdelaide’s Rental Market There is solid supply and demand for rental property in South Australia. Toop&Toop’s rental vacancy rate currently sits at 0.72% compared to the industry average 1.2%.HOMEAdelaide remainsThe Toop&Toop rentalone of the moststrategy enables us toSIGNconsistent andlet properties in underreliable rentalhalf the time comparedmarket in Australia.to the market average.Gross rental yields have started to increase from historic low levels. Gross rental yields, NationalGross rental yields as at Nov-185.1%National Combined regionals Combined capitals4.9% 4.7%Regional NT Regional Tas Regional WA Regional SA Regional Qld Regional Vic Regional NSW4.5%4.3% 4.1% 3.9%3.7% 3.5% Nov-083.8% 3.6%Nov-10Nov-12Nov-14Nov-16Nov-184.9%5.4% 5.7% 5.6% 5.3% 4.7% 4.5%Canberra Darwin Hobart Perth Adelaide Brisbane Melbourne Sydney7.0%4.7%5.7% 4.9% 4.0% 4.3% 4.4% 3.3% 3.2% 0%2%4%6%8%67 Lochside Drive | West LakesRental case study Address 67 Lochside Drive, West Lakes Marketing spend $408 Days on market 6 days Market average days on market 40 days Rent $850 per weekFrom one family to another When we established our agency in 1985 our vision was to create a business that was trusted and known in our community for our results, our professionalism, our innovation and for our clients to feel safe in the hands of a caring family business constantly striving to be the best of the best. Whilst a lot has changed since then, our core philosophy remains the same. Our family is passionate about this industry and we are actively involved in all aspects of the business. We are proud to be supported by such a strong, professional team with expertise in all facets of the property market. For you, this is a strong combination – committed and passionate people who genuinely care about your success. We’d love the opportunity to work with you and show you how important your business is to us. Anthony, Sylvia, Genevieve and Suzannah ToopPlease flip over for our ToopWeekly magazine and current listings.
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