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Which locations are winning the property race?

By Simon Pressley

Promoted by Propertyology

If one was to have made a strategic decision at the start of 2015 to invest in property, from a capital growth perspective, the median house price has increased slightly more in Sydney (43.1 per cent) than Melbourne (41 per cent) over the 3 years ending December 2017.

With a 37.7 per cent increase in median house prices thus far, metropolitan-Hobart, where Propertyology began investing in mid-2014, is sitting very close on the shoulder of Sydney and Melbourne.

One could have purchased 3.5 houses in Hobart for the price of one in Sydney in January 2015.

As the race for this hypothetical investor continues to unfold, it’s now abundantly clear that Hobart is about to hit the lead. And not be a smidge either; it’s about to fly right past.While Sydney and Melbourne both started the 2018 calendar years with consecutive monthly price declines, data suggests that Hobart’s property market is further accelerating from the 12.3 per cent price growth in 2017.

The economy in all three capital cities looks like remaining strong for the foreseeable future. But, whereas motivated buyers who can still afford to buy in Sydney and Melbourne are now few and far between and large volumes of new supply keeps hitting the market, Hobart’s biggest challenge is insufficient stock for sale which is adding even more pressure on prices.

With Sydney and Melbourne’s bull run now officially over and the knowledge that there’s typically 6 to 12 years between growth cycles, investors might be wise to start to think about whether now is a good time to sell and recycle their profits in to other markets.

The annual holding cost on a median value house in Australia’s two most expensive cities were digestible when the asset value was roaring ahead. But the tide has well and truly turned. Back-of-the-beer-coaster calculations which take in to account the initial purchase price in January 2015, current median rents, loan interest costs at 4.5 per cent, and other standard property costs, illustrate that the hip pocket is being hit very hard.

A house purchased at the beginning of 2015 in Sydney for the median value of $1,147,433 will today set the owner back $21,440 per year, assuming they initially borrowed 80 per cent of the purchase price. The same scenario in Melbourne equates to an annual holding cost of $10,837. That’s significant coin to continue to outlay while waiting umpteen years until the next growth cycle comes along.

And those investors who leveraged against the equity in their family home to purchase an investment property, effectively borrowing 105 per cent (including acquisition costs like stamp duty), will need to find $34,000 per year in Sydney or $18,000 in Melbourne.

That same fully leveraged house in Hobart will today only cost the owner $1,800 per year; it would be cash flow positive to the tune of $1,800 if the hypothetical owner made the purchase using a 20 per cent deposit.And the capital growth just keeps coming!

If ever there was a chance of a capital city breaking Darwin’s record as the last Australian capital city to exceed 20 per cent price growth in a calendar year (22 per cent in 2007) it is Hobart, especially in the municipalities of metro-Hobart, Clarence and Glenorchy.

As Australia’s only property market analyst to pick Hobart’s remarkable transformation, I’m increasingly asked the question ‘when will Hobart’s growth cycle end?’ The answer is ‘no time soon’.

No growth cycle runs forever however, all of the metrics which shape one’s opinion point towards further growth in Hobart – lots of it!

Canberra (20.5 per cent), Adelaide (13.6 per cent) and Brisbane (12 per cent) have seen much more sedate growth over the last 3 calendar years. The median house price in Australia’s fourth largest city, PerthPerth, TAS Perth, WA, and Darwin is lower now than 3 years ago.

If we were to describe the current performance of Australia’s 8 capital cities as a horse race, Hobart is Phar Lap and it’s up against 7 donkeys!

The question that is on many investors lips right now is, ‘which horse should they back in the next race?

If you’d like to know more about Propertyology’s services, here’s how you contact them.

Propertyology is a national property market researcher and buyer’s agency, helping everyday people to invest in strategically-chosen locations all over Australia. The multi-award-winning firm’s success includes being a finalist in the 2017 Telstra Business Awards and 2018 winner of Buyer’s Agency of the Year in REIQ Awards For Excellence.

 

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  string(46) "A property investment plan years in the making"
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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
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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
object(stdClass)#1184 (52) {
  ["id"]=>
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  ["title"]=>
  string(38) "From pirouettes to property investment"
  ["alias"]=>
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  ["introtext"]=>
  string(381) "

If Mark Hodge’s face looks familiar to you it could be because of his time working as a professional entertainer which saw him working with the Australian ballet, appearing on multiple seasons of Dancing with the Stars and touring in musical theatre for 17 years. What you may not know is that Mark is also heavily involved in the short-term property rental marketspace.

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Mark joins host Phil Tarrant to discuss his transition from entertainer to investor, a journey pushed forward by dance related injuries and even a hit and run which saw him needing to find alternate methods to bring in an income. Mark shares how bad long-term tenants and a gang member guided him to the short-term rental market, and how this pushed him into helping others to realise the same benefits.

Mark will also address the common concerns, discuss what his company Maisonnets specialise in and unpack how they are making the process of filling short term rentals easier for investors.

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:

The hard-to-swallow truth: The prickly points of the Airbnb reforms
Airbnb reforms unpacked for property investors
Airbnb leasing: What are a landlord’s rights and responsibilities? 


AREAS MENTIONED:

Melbourne
Sydney
Rushcutters Bay
Maroubra
Potts Point

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From pirouettes to property investment

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