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Real Estate NSW Price Growth
Great news for suburban property owners of real estate nsw, property values increased 4.9% over the December quarter, making the annual trend for Sydney property 14.3%.
Harcourts real estate GENERAL MANAGER for New South Wales Rob Forde claims real estate nsw owners will be ecstatic, however he adds that the statistical data raise the issue of housing cost for first home buyers."First home purchasers are having to come in with a further AUS$50,000, compared with this time last year and salaries have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first home purchasers active in the outer city limits, with first house purchasers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers needing to get into real estate nsw are taking a look at an AUS$400,000 plus spend, and the closer that spend is to AUS$400,000, the further away from the Sydney CBD they're going to be. "
Alternatives available to first house purchasers of real estate nsw is to buy a house instead of a costlier free standing home and Forde asserts that this is the option that most younger customers take. Although Forde adds that apartments are not cheap either, with new release flats in the CBD unloading the plans for a minimum of AUS$500,000.
Forde highlights that price has not dampened first home buyer enthusiasm with more first house purchasers purchasing real estate nsw than ever before, "The serious plus for first house purchasers is that so long as real estate nsw expands in price, the greater their equity. The first house buyers of one year back, now have at least 14.3% more equity in their property than they did when they first acquired. This is a big driver for first home purchasers, the other motivating factor is low rates. "
First home buyers are becoming really cutting edge in techniques to come up with capital asserts Forde, "Folks are definitely in the equation, with numerous parents turning up to auctions or entering into co-ownership agreements with their child and very frequently, the childs partner. Getting into real estate nsw is rather a money challenge for first time purchasers and folks realise they had a way easier time and so are now happy to help their youngsters out. "
The other common occurrence with real estate nws is the first-time buyer who purchases a property with the intention of renting it out, in order that they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first home owners there are a lot more folk who intend to stay renting ," concludes Forde.
Harcourts real estate GENERAL MANAGER for New South Wales Rob Forde claims real estate nsw owners will be ecstatic, however he adds that the statistical data raise the issue of housing cost for first home buyers."First home purchasers are having to come in with a further AUS$50,000, compared with this time last year and salaries have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first home purchasers active in the outer city limits, with first house purchasers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers needing to get into real estate nsw are taking a look at an AUS$400,000 plus spend, and the closer that spend is to AUS$400,000, the further away from the Sydney CBD they're going to be. "
Alternatives available to first house purchasers of real estate nsw is to buy a house instead of a costlier free standing home and Forde asserts that this is the option that most younger customers take. Although Forde adds that apartments are not cheap either, with new release flats in the CBD unloading the plans for a minimum of AUS$500,000.
Forde highlights that price has not dampened first home buyer enthusiasm with more first house purchasers purchasing real estate nsw than ever before, "The serious plus for first house purchasers is that so long as real estate nsw expands in price, the greater their equity. The first house buyers of one year back, now have at least 14.3% more equity in their property than they did when they first acquired. This is a big driver for first home purchasers, the other motivating factor is low rates. "
First home buyers are becoming really cutting edge in techniques to come up with capital asserts Forde, "Folks are definitely in the equation, with numerous parents turning up to auctions or entering into co-ownership agreements with their child and very frequently, the childs partner. Getting into real estate nsw is rather a money challenge for first time purchasers and folks realise they had a way easier time and so are now happy to help their youngsters out. "
The other common occurrence with real estate nws is the first-time buyer who purchases a property with the intention of renting it out, in order that they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first home owners there are a lot more folk who intend to stay renting ," concludes Forde.
About the Author:
Harcourts Australia offer real estate for sale, land and places on sale, rentals and commercial leasing, agricultural property sales, way of living real estate and business right across Australia.
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