This Blog is designed to provide information about buying or renting apartments in Brisbane, Australia.
Saturday, October 30, 2010
"... Australia’s housing market has flat-lined in the second half of 2010. The monthly RP Data-Rismark Hedonic Home Value Index was the first benchmark to report a big shift in housing conditions with a substantial fall in Australian dwelling values in the month of June. This followed annualised double-digit capital growth since the start of 2009. ...
In the month of September, this theme continued with RP Data-Rismark’s Capital City Home Value Index effectively unchanged (+0.1 per cent seasonally-adjusted / +0.4 per cent raw). Since the market started turning at the end of May, Australia’s capital city home values have declined by a total of 1.0 per cent seasonally-adjusted (-0.8 per cent raw) according to RP Data-Rismark. (The previous August month capital growth estimate of 0.0 per cent is largely unchanged at -0.1 per cent). ...
The rental market continues to offer solid cash-flows, with gross apartment yields rising in the month of September to 4.9 per cent while yields on houses remained unchanged at 4.0 per cent.
Some of the highest yielding rental markets for apartments are Darwin (5.7 per cent), Canberra (5.3 per cent) Sydney (5.0 per cent) and Brisbane (5.0 per cent). The weakest apartment markets are Melbourne (4.1 per cent) followed by Perth (4.4 per cent).
RP Data’s senior research analyst, Cameron Kusher commented that with market conditions expected to be flat for the remainder of 2010, astute investors should now look for opportunities to enter into the market.
“Early signs suggest that rental rates are once again improving, listings are at above average levels, and leading indicators such as time on market and vendor discounting are creeping up.
“For those active in the market there is increasing scope for price negotiation and less competition amongst buyers with an above average number of properties for sale. These conditions are likely to afford opportunities to purchase property at more competitive prices,” Mr Kusher said.