Finance advice

Interest in outer-suburbs soars

By Reporter
Beach

The announcement of a major infrastructure project has continued to spur on price growth in one region, with one real estate agency reporting a massive spike in investor interest.

The federal government’s decision to approve construction of a second Sydney airport is reported to be having a massive impact on investor activity in that region, in particular St MarysSt Marys, NSW St Marys, TAS and surrounding suburbs.

Peter Diamantidis, sales manager at Raine & Horne St Marys, has reported seeing a new wave of investors at open for inspections following the announcement that Badgerys Creek would be the location of Sydney’s second major airport.

“Since Badgerys Creek Airport was announced, St Marys and surrounding suburbs have witnessed an influx of investors,” said Mr Diamantidis.

Reports of a train connection between St Marys and the new airport being on the cards has added to the flow of interest, despite no plans being confirmed.

“St Marys is approximately 19 minutes from the new airport and it seems that a train to Badgerys Creek is on the drawing board,” Mr Diamantidis speculated.

The sizeable timeframe on these projects means that the region is geared for long-term capital growth, according to Mr Diamantidis.

“St Marys is a hotspot for many developers, investors and owner-occupiers as they can see the potential afforded by the region and its expanding infrastructure, which underpin long-term capital growth.”

According to CoreLogic RP Data, the 12-month median house price growth in St Marys is 26.7 per cent, with unit values growing by 20.1 per cent.

Despite this, Mr Diamantidis said that property in St Marys still represents a low-entry point for many investors, compared to rapidly escalating prices in places like Sydney’s inner-west.

“In comparison [to those suburbs], it’s possible to pick up a house in St Marys for $550,000 or a unit for $330,000 and still enjoy a positive rental return,” he said.

Mr Diamantidis explained that changes to development guidelines mean that new supply is set to hit the market, with an increase in medium-density housing expected.

“The new LEP has attracted developers to St Marys to build apartments and townhouses."

He added: “We have seen the development of our first high-rise building of six levels in St Marys, and there are plans for similar buildings that have been lodged with council.”

Read more: 

Auction results reveal weakening markets

EXCLUSIVE: The 6 week property transformation – episode 3

How to begin investing in property

Lending changes creating distorted market

6 things you need to know about property valuations

 

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  string(72) "Mortgages in a tighter lending economy and why Brisbane is a good option"
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Tune in to the latest episode of Property Showcase, the podcast with the inside track on the products and businesses that will help turbocharge your portfolio, maximise returns and make your overall investment experience seamless and stress-free!

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To hear more about these services, make sure to tune in to this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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Son Pham is the accredited Head of Mortgages at Rethink Financing\/Rethink Investing. He has over 6 years\u2019 experience writing loans, over 12 years in the wealth management industry working for the likes of CBA, AMP and private practice and he is also a licenced financial planner (AFSL 326450). He has multiple investment properties that are cash flow positive which help pay his mortgage on his home and fund his lifestyle.<\/p>\r\n

Son is able to write all types of residential and commercial property loans.<\/p>\r\n

In this episode of Property Showcase, head of mortgages at Rethink investing Son Pham joins host Tim Neary to unpack how an investor should approach getting a mortgage in place with banks tightening down on serviceability.<\/p>\r\n

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    In this episode of Property Showcase, director of investment services for Open Corp Michael Beresford,\u00a0joins\u00a0editor of Real Estate, Tim Neary to share why he disagrees that the cooling market means that the best times are behind us.<\/p>\r\n

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Will Magee has had ambitions to enter into the Australian property market for quite some time, but it has been more than just finances holding him back.  Having been granted permanent residency just two weeks ago, Will is wasting no time and is now in the process of signing papers and finding his first investment property.

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In this episode of the Smart Property Investment Show, Will joins host Phil Tarrant to share why he is purchasing his first property in partnership with his brother, discuss the complications that can arise from such a strategy, and unpack the ongoing plan for building a joint property portfolio with his brother.

Will will also share how they approached saving for their first property, why he is taking out the mortgage in his name exclusively, and share their savings plan for the year ahead.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

From property in Australia to a ski lodge in Japan
Mortgage Trusts, an alternative first step for property investors
Should a real estate title be in one person’s name only?

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A property investment plan years in the making
object(stdClass)#1213 (52) {
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  ["title"]=>
  string(75) "Regional Victoria showing up Melbourne in price performance, new data finds"
  ["alias"]=>
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  string(139) "

Median house prices in regional Victoria outperformed that of Melbourne in the June quarter, the latest REIV figures reveal. 

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Median house prices in the regions rose 4.0 per cent to $419,500 but in Melbourne they dipped by 0.6 of a percentage point to $840,000.

The result in Melbourne was due to a 0.8 of a percentage point fall in prices achieved at auction; this was despite a lift of 2.3 per cent in private sales.

Inner Melbourne suffered due to auction prices, where median prices fell by 4.9 per cent to $1,459,000 but it was middle Melbourne that was hardest hit, with a 5.4 per cent drop to $974,500.

Outer Melbourne had a good quarter with the median rising by 0.5 of a percentage point to $681,000.

Apartment prices in regional Victoria grew by 3.7 per cent to $304,500 while the metro media was up by 0.5 of a percentage point to $604,000.

REIV President Richard Simpson said that despite fewer sales, many sectors of the market were performing well.

“2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. 

In particular there was been strong growth in regional centres which is probably due to the first-home buyers’ concessions said Mr Simpsons.

“The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000,” he said.

Mr Simpson said that more prospective buyers are looking towards regional Victoria which is also having an effect in Melbourne.

“Melbourne’s outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

Mr Simpson said moving forward that vendors need more realistic expectations as the highs of 2017 are now over.

“Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations,” Mr Simpson said.

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Regional Victoria showing up Melbourne in price performance, new data finds

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