Brisbane to outshine with 17% growth over next three years: QBE

The QBE Australian Housing Outlook 2014 expects Brisbane to outperform the other capital cities over the next three years, tipping 17% median house price growth on the back of a supply deficiency that will remain over that time.

The forecasts are from research house BIS Shrapnel.

Sydney’s forecast growth from BIS Shrapnel is 9% over the period, while Melbourne is expected to see 5% growth. Adelaide and Hobart are forecasted to see 6% and 5% growth respectively.

Perth can expect a 2% decline over the three years, while Canberra and Darwin will remain stable at 1% and 2% growth.

This will bring Brisbane’s median price to $550,000 by 2017, with Sydney still far surpassing other capital cities at $885,000.

The forecasts expect drops in 2017 for both Melbourne and Sydney, of 0.7% and 3.3% respectively, dropping Sydney down from a median house price high of $915,000 in 2016.

Brisbane will see strong growth of 7.4% next year, almost matched by Sydney’s suggested 7.2% growth. This slowly drops off in Sydney, but continues surging, with Brisbane expecting to record 7.5% growth in 2016 before a further 1.3% in 2017.

index

Data source: REIA. Forecast source: BIS Shrapnel

http://www.propertyobserver.com.au/forward-planning/investment-strategy/market-trends/36553-brisbane-to-outshine-with-17-growth-over-next-three-years-qbe.html

The announcement that gave hope to property investors in mining towns

An announcement this week gave hope to all those investors who own properties in mining centres.

Indian mining company Adani started advertising the thousands of jobs that will come with its $16 billion Carmichael coal mine in Central Queensland.

It’s a further indication that Adani is keen to move ahead quickly with its project, which will include the mine, plus rail links and export port facilities.

Every day I receive emails from people who own investment properties in places like Moranbah, Emerald, Blackwater, Mudgee and the towns of the Hunter Valley.

These places have lots in common. They’re all towns where property markets boomed when coal mining was thriving, with rents and property values rising strongly. Then two things happened: the coal sector turned south just as developers were heading north. Demand fell just as supply was rising.

Big vacancies caused rents to fall and property values followed. If you bought in any of these places two years ago, you will be feeling lots of financial pain.

Moranbah’s median price has dropped 40% in the past 12 months and rents are about one-third of their peak levels.

The common dilemma expressed in so many of those emails is this: should I cut my losses and sell, or should I hold on and hope it improves? One correspondent this week suggested things might be turning around in Moranbah but asked: “Is it just wishful thinking?”

The Adani announcement that expressions of interest are open for jobs on its Carmichael mine suggests that hope is not unreasonable.

Adani, which has state and federal approvals for its Galilee Basin mine, is planning to employ up to 5,000 people during the construction phase and 4,000 more during the mine’s operation.

A key beneficiary will be Emerald, a regional centre which sits amid the Galilee Basin to the west and the Bowen Basin to the east. Lots of coal, lots of big plans, but not much action at present.

I’ve often said to people: it will only require one of the half dozen proposed mega projects in the Galilee Basin to go ahead, for Emerald’s market to come storming back. I’ve always thought the Carmichael mine was the most likely to go first, because Adani wants the coal to provide for its own needs (its Indian power stations) rather than to supply the depressed global market.

The problem for investors sitting on empty rental properties is that these huge projects are slow-moving events. You need lots of patience and nerves of steel.

But this is life in mining towns. It’s not a new phenomenon. This is not the first time Moranbah has fallen into a trough (althought this one is deeper than any of the previous). It’s not the first time a boom in Gladstone has been followed by a bust.

Gladstone’s market experienced a major peak in 2008, followed by a couple of years of declining values, before rising to another peak in 2012, followed the another period of decline.

Mudgee in New South Wales had a peak in 2007, falling prices in 2008 and 2009, another peak in 2010, decline in 2001, another peak in 2013 and now another decline. The price graph for Mudgee looks like a mountain range.

Ditto Muswellbrook: since 2006 it’s been minor peak, minor trough, minor peak, mknor trough, major peak (2012), major trough (now).

When prices rise strongly in markets like this, the market always “give some back” before moving into the next up-cycle. Usually the market gives back less than it gained earlier, so the overall trend is upwards.

If you don’t have the temperament to deal with this kind of volatility, it’s best to stay out of resources-related markets.

 

http://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/34994-the-announcement-that-gave-hope-to-property-investors-in-mining-towns.html

Nine Brisbane suburbs to become property hotspots: Place Advisory

Currently, more than $47 billion worth of infrastructure projects are planned for Brisbane city, with suburbs emerging as those to benefit most from the spend, according to Place Advisory.

Director of Place Advisory, Lachlan Walker, said that while all areas of Brisbane will see themselves doing well from the improved infrastructure, there will be some potential hotspots.

“The current infrastructure pipeline has more than $47 billion worth of major projects in various stages, all of which will further enhance the attractiveness of the city, drawing in both owner occupiers and investors,” Walker said.

“But while we know Brisbane as a whole will benefit, we can certainly pinpoint some particular suburbs that will benefit more than others from infrastructure planned or underway, and by benefit we mean see a marked increase in demand to live there, resulting in greater price and rental growth.”

He pointed to the following suburbs and the infrastructure they will benefit from:

Brisbane City

Underground Bus Loop: Currently in concept stage. To connect at George Street, Queen Street, Albert Street and Adelaide Street in the CBD to reduce confestion and travel times.

“Since it only runs through the city, the Underground Bus Loop will benefit residential properties located in the CBD itself, as well as neighbouring Spring Hill,” said Walker.

Spring Hill

Underground Bus Loop

Woolloongabba

BaT Tunnel: Currently in concept stage. This will be a 5.4 kilometre proposed north-south tunnel to bring trains from Dutton Park to Spring Hill. Walker expects that the journey will be shortened in this area from the southern suburbs to the inner north suburbs, helping reduce the requirement to travel through CBD conhestion.

“It will be built to accommodate the additional 130,000 workers expected for the CBD and adjacent suburbs over the next 20 years, and will fulfil the need for public transport services for the next 50 years,” he said.

Dutton Park

BaT Tunnel

Toowong

Legacy Way: A tunnel set to connect the Western Freeway at Toowong with the Inner City Bypass at Kelvin Grove. It will minimise congestion and allow easier access to the airport, and will cut out the use of major roads.

“Upon completion Legacy Way will almost halve peak travel times between the Western Freeway and the ICB,” he said.
Indooroopilly Shopping Centre Redevelopment : Expected to come to a completion soon. Involves expansion and renovation of existing shopping centre and an adjoining new plaza at the junction of Station and Stamfords Roads.

“With the redevelopment aiming to bring a quality of shopping that’s currently lacking in the western suburbs, it will benefit the entire area, including Indooroopilly itself, as well as Toowong, St Lucia, Taringa, Graceville, Chelmer, Sherwood, Fig Tree Pocket, Jindalee and Kenmore,” said Walker.

St Lucia

Legacy Way

Indooroopilly Shopping Centre Redevelopment

Indooroopilly

Legacy Way

Indooroopilly Shopping Centre Redevelopment

Hamilton

Kingsford Smith Drive Upgrade: In concept phase. Running off Kingsford Smith Drive, it will reduce congestion and benefit local residents.

Brisbane Airport New Parallel Runway: Currently under construction. Looks to support the needed flights in and out of Brisbane, which may result in increased demand for property with access to the airport.

“Consequently we believe suburbs such as Hamilton and Nundah will see a boost in popularity from the construction of the new parallel runway. They’re in close proximity to the airport and easy to get to and from for travellers,” said Walker.

Nundah

Brisbane Airport New Parallel Runway

Other suburbs that may benefit: Taringa (from Indooroopilly Shopping Centre Redevelopment) and Mt Coot-tha (both benefiting from Legacy Way), and Graceville, Chelmer, Sherwood, Figtree Pocket, Jindalee and Kenmore (from Indooroopilly Shopping Centre Redevelopment).

Despite these benefits for the area, Walker said that the best time to buy is as soon as the infrastructure project is announced.

“However, once the benefits of the project flow through to the area there will only be increased demand from buyers and renters, and this means prices and rents will continue to grow, or at the very least be stable.”

100% FIFO concept slammed by Moranbah investors

The concept of making Queensland’s Moranbah a 100% fly-in, fly-out town has angered investors, who argue that it isn’t a flexible option and that there is plenty of accommodation for workers to live in the town.

Moranbah, once an investor favourite town gracing hotspot lists around the country, saw capital gains soaring and high rental yields to the tune of 20% before plummeting in recent times and leaving investors the area struggling.

The area has been the subject of much debate, and has recently been labelled a hotspot again with resources spending expected to be significant.

However, within a new proposal from BMA to expand underground mines and create a new development is a 3,000-room mine camp for all of the construction and operational workforce.

Property Observer was provided with a letter sent to Deputy Premier and Minister for State Development, Infrastructure & Planning Jeff Seeney by a Real Wealth Australia client, who lost a tenant due to forced changes and who is calling out for there not to be an enforced 100% FIFO workforce.

The investor, who had attempted a FIFO lifestyle before choosing to live in Moranbah themselves to be with their family every day, wrote to Seeney that the majority of workers traditionally drive in from Mackay, Rockhampton and other areas.

“There are hard working families in the regions who are financially suffering due to the jobs that are being lost to the region via the down turn and reduced employment opportunities because of FIFO. There are families who have purchased homes that are now worth less than the purchase prices. Some of them need to leave town to secure work and they can’t rent out their places. Some people are going bankrupt, honest hard working people who have tried to build up some assets so that they can avoid dependance on government. By approving FIFO you are basically kicking these people in the guts,” the investor wrote.

In the letter, they quoted comments made by Seeney to the ABC.

“I don’t believe there are enough opportunities for people to live in Moranbah and that’s why we’ve been working with the Isaac Regional council to develop places like the Belyando estate and we’ve been prepared to invest into infrastructure,” Seeney was reported as saying.

“Since we came to power, we’ve tried to work with the council to ensure there are extra opportunities provided for people to live locally, but unfortunately we haven’t had the co-operation from the council that we would have liked.”

Irritated at these claims, the investor pointed to the following:

  1. There are currently 359 Vacant Houses in the communities of Moranbah and Dysart that are affordable and many have been vacant for months
  2. There are 100’s of approved development applications in Moranbah / Dysart for new properties which have been stalled due to the mining down turn and the FIFO policies that are being approved. Values have dropped so much that it is no longer viable to continue these developments
  3. That BMA owns a large block of land at the end of Mills Avenue, which during the 2011 mining boom remained untouched, yet BMA claimed there was a “shortage of accommodation” in the town which helped them to fuel their debate for 100% FIFO at Caval Ridge and Daunia
  4. Council wants to grow the town and have always been accommodating for developers and investors in the region. Their commitment to the Belyando Estate is hard evidence that they want to accommodate more people.

Isaac Regional Council’s Mayor Anne Baker is against the proposal for a 100% FIFO workforce in the area, saying that it threatens the wealth of all of regional Queensland.

“It is reasonable to represent our residents and stand up when we facing the long-term failure of our regional communities, and it’s bigger than that, no one in Central Queensland is safe, particularly Mackay and Rockhampton,” said Baker.

“If the Queensland government condones 100% forced FIFO work practices at Red Hill they are effectively allowing BMA to cut jobs in the region and lay the foundation for regional decline.”

Baker said that the council is “not naïve enough” to expect the full amount of employment numbers to be sourced locally, but said that a forced 100% FIFO threatens all of regional Queensland.

“As I have said before, our vital and well established mining regions must be strong, healthy communities.  Our communities need population and economic growth, small businesses need confidence and we need community sustainability,” she said.

The median price in Moranbah is currently $382,500 for a house, with a median weekly asking rent of $500, according to RP Data.

By Jennifer Duke
Monday, 24 February 2014

http://www.propertyobserver.com.au/poll-results/do-you-think-100-fifo-should-be-allowed-in-moranbah-and-surrounding-towns?template=po_full_column

Australian property prices explained: Independent analyst

What everybody is telling us

The most common opinion about property prices in Australia is that our real estate is significantly overpriced or, that we are even experiencing a “property bubble”.

Evidence cited in support of the argument that prices are too high is that, in the past, median property prices were three times the average household disposable income but now that multiple is as high as six times the average.

An alternative measure, used less frequently in debates, is the ratio of house prices to rental costs – this ratio is now almost double of what it used to be a couple of decades ago.

Both these statistics show that property prices have increased twice as much as household disposable incomes and rents in the last twenty odd years. Therefore, it is easy to jump to a conclusion that, from a historical perspective, residential real estate in Australia must be significantly overpriced. But is this a correct conclusion?

There is a problem

As outlined in my last article about a property bubble in Australia, the above measures are rather inadequate for the purpose of describing short and medium term fluctuations in property prices, and whether these prices are “excessive” or not.

The key problem with the above ratios is that they have higher values now than in 2000’s, which in turn were higher than in 1980’s, which were higher than in 1970’s, which again were higher than in 1950’s… You get the picture. It is frankly impossible to draw any rational conclusions using these measures.

An alternative approach for better insight

To better depict what is actually happening in the market, we need to consider relationships between several factors that directly influence property prices – not simplistic measures like ratios of prices-to-rents or prices to household disposable incomes.

I have selected three different measures that, when presented together, describe more accurately what is happening with property prices. These are:

  • incomes – which reflect affordability; I opted for adult full time average weekly earnings which are more relevant to a property buyer cohort and are a less artificial measure than household disposable incomes;
  • rents (from CPI index) – which are indicative of a relative cost of accommodation for renters (since renting is a substitute for owning a property there is a direct relationship between the costs of both accommodation options); and
  • cost of buying – which is indicative of the relative cost of accommodation for owner occupiers (I am using a proxy measure which is simply equivalent to interest payments on a 100% loan on a median priced house);

I acknowledge that the “cost of buying” measure has its critics but there is a simple explanation why this is the correct statistic to use for direct comparisons with rental costs and affordability and not property prices. In particular, these days hardly anyone purchases a property outright so, the price of a property is only a secondary consideration in the purchase decision.

Yes, you read it correctly. Far more relevant for the purchase decision is the annual cost associated with buying a property – comprising of mortgage payments, council and water rates, maintenance costs, etc. Even more importantly, consideration also needs to be given to how this cost compares with rental costs, since renting is a close substitute for buying.

That is, the maximum affordable price of the desired property is worked out based on the buyer’s existing financial resources (i.e. cash and/or equity in currently owned property) as well as the buyer’s borrowing capacity (which is directly linked to buyer’s income and prevailing interest rates).

All in all, in order to proceed with the purchase, personal or family financial capacity has to at least match the annual cost of buying.

Paying off the loan principal is omitted in the analysis since it equates to savings and is therefore deemed irrelevant (i.e. every dollar that is paid off becomes owner’s equity that can be drawn upon in the future). Again, I acknowledge criticism of this point of view but I leave detailed explanations of its merits until next opportunity.

With this background, let’s now compare information on personal incomes, rents, costs of buying and property prices over the last 27 years.

The simple truth

LOGIS

 

Source: Based on ABS data

The chart reveals quite an interesting picture. In particular, despite a six-fold increase in property prices, the cost of buying a median priced house in Australia has risen less than two and a half times in the corresponding period (the actual Sep-13 index value is 234.1).

The increase in the cost of buying is substantially less than increases in personal incomes (adult total full time weekly earnings May-13 index value is 341.5) as well as in the cost of renting (rent component of the Consumer Price Index Sep-13 value is 298.6).

In other words, relative to the incomes of Australians working full time, the cost of buying is significantly lower now than it was 27 years ago. And rents are also a lesser burden now than they were in 1986. Therefore, if housing was affordable then, it is even more affordable now.

Undoubtedly, this conclusion will raise a few eyebrows since it contradicts many “informed opinions” that circulate in the media. So, let’s examine the chart a bit closer to see how well it reflects the reality.

A few words about the chart

The reason for selecting 1986 as a starting point is simply because this is when official ABS house price index data begins. This was neither an extremely low nor extremely high price point, hence is a quite reasonable year to use for benchmarking.

It is also very close to 1985, a year that Steve Keen, economist and a prominent media commentator, nominated as the year when “houses were affordable” and that he uses as a reference point in his analysis. So, no bias here whatsoever.

Let me also stress the fact that there is no conflict between this chart and the two ratios mentioned at the beginning of the article. That is, the chart clearly shows that property prices had grown at twice the rate of incomes and rents over the 27 year period.

However, in addition, this chart also illustrates the relationship between incomes, rents and the cost of buying which provides the explanation as to why property prices have risen so dramatically.

That is, current property prices are the result of incomes, rents and the cost of buying keeping in a relative balance over an extended period of time.

The real story behind the numbers

The story that this chart tells is surprisingly accurate. In particular, a combination of explosive rises in property prices and interest rates in late 1980’s resulted in buying costs reaching a level that could be considered a “bubble” (this was a period of high volume of sales and high prices).

Although the “recession we had to have” shook buyer confidence, prices did not fall. It was simply because a drop in interest rates brought down the costs of buying quite fast and this provided strong support for the then price level.

The cost of buying kept falling for almost a decade, to the extent that by early 1998 it was only half of what it had been in 1990. On the other hand, incomes and rents grew steadily, compounding the perception that properties were getting extremely cheap.

It meant prices had a lot of room to move. And they moved indeed – as much as three times in some locations in a relatively short period of time.

This jump in prices was merely a catch-up as Australians rediscovered their true financial capacity. It wasn’t until 2008 that a combination of continuous price growth and hikes in interest rates pushed the cost of buying again into an unaffordable territory.

The unfolding Global Financial Crisis quickly deflated this bubble – a reduction in buyer confidence led to a small drop in prices and the RBA swiftly engineered a big cut in mortgage rates to bring rates down to historically low levels and, in effect, dramatically reducing the cost of buying.

By March 2009 the cost of buying reached a bargain level again. These developments, combined with an additional stimulus for first home buyers, generated quite a lot of demand for residential properties, pushing prices higher in a very short period of time. The RBA reacted again, lifting rates in a hurry and the cost of buying caught up with the strongly growing incomes and rents at the time.

That brings us to present times. Renewed financial troubles reduced buyer enthusiasm for property. A moderate fall in prices from the peak reached in mid-2010, and interest rates retreating back to historically low levels, brought about a reduction in the costs of buying yet again.

However, the falls in those costs were not as sharp as in 2009, or as prolonged as in the 1990’s. Nevertheless, from a historical perspective, the reduction in the cost of buying was enough for real estate to be considered if not an outright bargain, at least well within the financial capacity of working Australians. And then prices started rising again…

Historical perspective with real data

The ultimate check of accuracy for the information presented on the above chart is a comparison of actual prices from the past and present – and the match is pretty good, as this sample of statistics for Sydney demonstrates:

 

June 1987*

Sep 2013

Change

Median House Price

 

$104,000

(Sydney annualised)

$627,000 (Jun’13)

(Greater Sydney)

6.0 times higher

Median rent:

– 3B house

$8,580

($165 p.w.)

(Metropolitan, dwelling)

$28,600

($550 p.w.)

(Greater Sydney)

3.3 times higher

Median rent:

– 2B apartment

$7,280 p.a.

($140 p.w.)

(Metropolitan, dwelling)

$24,960 p.a.

($480 p.w.)

(Greater Sydney)

3.3 times higher

Full Time Adult Total Earnings

(Seasonally Adjusted)

$24,528 p.a.

($471.70 p.w.)

(NSW Aug’87)

$75,634p.a.

($1,454.50 p.w.)

(NSW May’13)

3.1 times higher

Buy cost proxy (100% mortgage on median priced house)

$16,120

$37,306

2.3 times higher

Standard Variable Mortgage Rate

15.5%

5.95%

62% lower

Mortgage cost as % of full time adult wages

66%

49%

26% lower

Ratio of full time adult wages to median house price

4.2

8.3

2 times higher

Rent as % of full time adult wages (house)

35%

38%

Relatively unchanged

Ratio of median price to median rent (house)

1

1.8

Almost 2 times higher

Source data: RBA, ABS, Housing NSW, Stapledon UNSW.

* Note: 1987 data used in absence of full set of statistics for 1986

Final comment

The chart presented in this article is a simple construct but is sufficient to explain what has happened with Australian property prices over the last three decades.

I am open to a constructive criticism but frankly speaking, in my extensive research on the topic, I did not come across anything else that would provide such accurate narrative to real life events.

The ratios favoured by economists and some property market commentators do not offer much of an insight in comparison. Since the validity of these ratios has been undermined, at least in my view, I believe it is time to find more suitable alternatives to better explain what is happening in the property market in Australia.

To conclude, the message is clear – based on the income capacity of working Australians, residential property in this country is not overpriced and prices are far from bubble territory. We can afford current prices – and we can afford them more than in 1986. The only hurdle is that it requires accepting a level of debt that many may not feel comfortable with.

 


Arek Drozda is an independent analyst who has worked in the public and private sectors for over 20 years in business development, data analysis and in building geographic information systems.

http://www.propertyobserver.com.au/finance/australian-property-prices-explained-independent-analyst/2014011367181

Hit and miss hotspots: Box Hill flames out while Highgate, Karratha, Newman and other WA mining locations are on fire

By Larry Schlesinger
Tuesday, 23 April 2013

Investors who purchased a house in the east Melbourne suburb of Box Hill based on its inclusion in last year’s Hot 100 list published by Australian Property Investor (API) magazine are unlikely to be a happy bunch.

As API published its flagship 2013 Hot 100 list this month, Property Observer analysed the performance of all 100 suburbs that made it on to last year’s list.

We found that Box Hill was the poorest performing detached housing market on last year’s list, which included suburbs that were expected to show growth over the following 12 months and beyond.

But rather than rise as expected, Box Hill’s median house price has fallen 19% between publication of the 2012 and 2013 Hot 100 reports. And it fails to make a re-appearance on the latest list of hotspots.

Of the 90 hot spot suburbs from 2012 where comparison were possible, 25 locations recorded declined of 1% or more over the year, 19 locations treaded water, 34 recorded gains of between 1% and 10% in their median house prices and 12 managed gains of more than 10%.

According to Australian Property Monitors (APM) data published by API Magazine, Box Hill recorded a median house price of $545,000 based on sales of 111 houses over the 12 months to January 2013.

This compares with a median price of $748,000 recorded from 101 sales for the 12 months to December 2011.

Box Hill was picked last year because of its good local council,  good location – just 13 kilometres east of the Melbourne CBD – and because of its status as one of Melbourne’s biggest transport interchanges “expected to accommodate a significant increase in housing around the core retail district”.

The suburb is the site of the $447 million Box Hill hospital redevelopment while the Cromwell Property Group recently raised $66 million from investors for a new 20-storey ATO building.

While investing in property is clearly a long-term play – a point highlighted by API Magazine – and Box Hill prices may yet rise as these major projects are completed, investors who bought in the suburb will be dismayed to learn that Box Hill is not among the 29 suburbs that have scored consecutive mentions in both 2012 and 2013 Hot 100 lists prepared by API Magazine.

Three other Melbourne suburbs, picked as hotspots last year by API, recorded near 10% annual declines in median values, with Broadmeadows house prices falling 10%, Sunshine prices down 9.4% and Northcote prices down 8.1%.

At the other end of the spectrum, the inner Perth suburb of Highgate, just 1.7 kilometres from the CBD, has been a hotspot standout, with house median prices up 43% over the same period.

For the 12 months to January 31 2013, APM records a Highgate median house price of $609,000 from 40 sales compared with a median house price of $497,000 for the 12 months to December 2011.

Highgate was included on the Hot 100 list based on good local council involvement in creating “mixed-use hubs” in surrounding areas, great accessibility to the city centre via road and train and good amenities and services in neighbouring suburbs like Mount Lawley and East Perth.

In addition, and as indicated by the small number of sales recorded, Highgate is a tightly-held suburb with “aesthetic appeal”

Surprisingly and despite the strong showing, Highgate is not listed as a hot spot in this year’s list, though a number of other eastern Perth suburbs are, including Dianella (6 kilometres north east of Perth), Carlisle ( 6 kilometres south east of Perth), Bayswater (6.6 kilometres north east of Perth) and Belmont (6.5 kilometres east of Perth.)

WA locations dominated the best performing locations from the 2012 list with Highgate followed by the Pilbara mining hotspots of Karratha (up 36.4%), Newman (up 25.5%) and Onslow (22.6%).

Just 29 suburbs have made it onto the hotlist for the second year in a row demonstrating the fleeting nature of so-called “hotspots”

The report highlights the challenges in picking property investment hotspots and the importance of doing your own research.

Indeed, API Magazine, in its guide to this year’s list says readers should not buy a property in a location “just because it’s in the Hot 100”.

However, it does say that suburbs have been picked for their “growth prospects over the next 12 months as well as the longer term”.

“This list isn’t your due diligence. You must do your own detailed homework into any area you’re going to invest in, as well as the property type,” says API.

 

Suburb Houses (12 month change)
Box Hill, VIC -19%
Port Adelaide, SA -14.80%
Broadmeadows, VIC -10%
Sunshine, VIC -9.40%
Townsville, QLD -8.30%
Northcote, VIC -8.10%
South Brisbane, QLD -8.10%
Ascot Vale, VIC -7.90%
Mandurah, WA -6.90%
Oakey, QLD -6.90%
Carindale, QLD -6.70%
Frankston, VIC -5.70%
Smithton, TAS -5.30%
Dickson, ACT -4.80%
Keperra, QLD -4.00%
Magill, SA -3.70%
Warrane, TAS -3.60%
Eden Hill, WA -3.20%
Werribee, VIC -3.20%
Stafford, QLD -2.20%
Dandenong, VIC -2.10%
Warrnambool, VIC -1.90%
Coorparoo, QLD -1.60%
Ningi, QLD -1.50%
Woodville West, SA -1.50%
Maitland, NSW -0.90%
Southport, QLD -0.90%
Ceduna, SA -0.80%
Indooroopilly, QLD -0.80%
Camperdown, NSW -0.70%
Sherwood, QLD -0.60%
Armadale, WA -0.40%
Coburg, VIC -0.20%
Moorooka, QLD 0%
Parap, NT 0%
Port Lincoln, SA 0.20%
Turner, ACT 0.20%
Ballarat, VIC 0.30%
Mentone, VIC 0.40%
Bunbury, WA 0.50%
West Footscray, VIC 0.50%
Fremantle, WA 0.60%
Granville, NSW 0.90%
Ringwood, VIC 0.90%
Footscray, VIC 1.00%
Chermside, QLD 1.10%
Como, WA 1.10%
Marrickville, NSW 1.30%
Westminster, WA 1.30%
Yeerongpilly, QLD 1.50%
Toowoomba, QLD 2.00%
Edgewater, WA 2.30%
Thornbury, VIC 2.30%
Enmore, NSW 2.50%
Erskineville, NSW 2.60%
Blacktown, NSW 2.70%
Perth CBD, WA 3.00%
Orange, NSW 3.30%
Heathridge, WA 3.50%
Maroubra, NSW 3.80%
Murarrie, QLD 3.90%
Kellyville, NSW 4.00%
Underwood, QLD 4.30%
Hackham, SA 4.40%
Joondalup, WA 4.50%
Willetton, WA 5.10%
Osbourne Park, WA 5.40%
Dunsborough,WA 5.60%
Hamilton Hill, WA 5.70%
Yangebup, WA 5.80%
Cloverdale, WA 6.10%
Belmont, WA 7.40%
Midland, WA 7.70%
Roxby Downs, SA 8.30%
Bendigo, VIC 8.70%
Whyalla, SA 8.70%
Mackay, QLD 9.40%
Carlton North, VIC 9.60%
Summer Hill, NSW 10.90%
Neutral Bay, NSW 12.50%
Port Hedland, WA 13.20%
Roma, QLD 14.20%
Moranbah, QLD 14.50%
Norwood, SA 14.50%
Nundah, QLD 16.30%
Broome, WA 16.70%
Onslow, WA 22.60%
Newman, WA 25.50%
Karratha, WA 36.40%
Highgate, WA 43.00%
Source: API Magazine

http://www.propertyobserver.com.au/hotspots/hit-and-miss-hotspots-box-hill-flames-out-while-highgate-karratha-newman-and-other-wa-mining-locations-are-on-fire/2013042260643

Australia’s Allure for Asian Residential Property Investment

KEY INSIGHTS IN THE YEAR OF THE SNAKE – Australia’s Allure for Asian Residential Property Investment

Property Observer report on Australia’s Allure for Asian Residential Property Investment.

Read the report – Australia’s Allure for Asian Residential Property Investment