Superb news for residential property owners of real estate nsw, property values increased 4.9% over the December quarter, making the once a year trend for Sydney property 14.3%.
Harcourts real estate CEO for New South Wales Rob Forde says real estate nsw owners will be ecstatic, however he adds that the statistics raise the issue of housing price for first home buyers."First house purchasers are having to come in with an additional AUS$50,000, compared against this time last year and incomes have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first house 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 having 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. "
Other options available to first home purchasers of real estate nsw is to buy an apartment instead of a more expensive free standing home and Forde asserts that this is the option that most younger buyers take. Although Forde adds that residences are not cheap either, with new release apartments in the CBD unloading the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first home buyer fervour with more first house purchasers purchasing real estate nsw than ever seen 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 home purchasers of one year back, now have at least 14.3% more equity in their property than they did when they first bought. This is an enormous driver for first home buyers, the other motivating factor is low rates. "
First home buyers are becoming really leading edge in tactics to come up with capital claims Forde, "Elders 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 buyers and elders realise they had a far easier time and so are now happy to help their children out. "
The other frequent event with real estate nws is the first time customer who purchases a property with the aim of hiring 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 householders there are many more folk who mean to stay renting ," concludes Forde.
Harcourts real estate CEO for New South Wales Rob Forde says real estate nsw owners will be ecstatic, however he adds that the statistics raise the issue of housing price for first home buyers."First house purchasers are having to come in with an additional AUS$50,000, compared against this time last year and incomes have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first house 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 having 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. "
Other options available to first home purchasers of real estate nsw is to buy an apartment instead of a more expensive free standing home and Forde asserts that this is the option that most younger buyers take. Although Forde adds that residences are not cheap either, with new release apartments in the CBD unloading the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first home buyer fervour with more first house purchasers purchasing real estate nsw than ever seen 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 home purchasers of one year back, now have at least 14.3% more equity in their property than they did when they first bought. This is an enormous driver for first home buyers, the other motivating factor is low rates. "
First home buyers are becoming really leading edge in tactics to come up with capital claims Forde, "Elders 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 buyers and elders realise they had a far easier time and so are now happy to help their children out. "
The other frequent event with real estate nws is the first time customer who purchases a property with the aim of hiring 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 householders there are many more folk who mean 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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