Property market in upward trend.

[Guest BurgessFamily]

Interesting data regarding property/rentals, they are trending upwards. Will be interesting to see the impact of the grants being removed in July.

 

 

 

Source: http://www.sqmresearch.com.au/terms_vacancy.php

[Guest Guest75]

Must admit that we were wondering what is going on with the apparently depressed market and worst time of year!

 

Just near us a house went at first auction after 4 weeks for $825K asking price.

 

Another asking $1.45m - $1.55m has gone under contract after 6 weeks!

 

 

 

Hallett Cove area.

[Guest BurgessFamily]

lol.... I wouldn't know about that price bracket.

[Guest Guest12727]

Must admit that we were wondering what is going on with the apparently depressed market and worst time of year!

 

Just near us a house went at first auction after 4 weeks for $825K asking price.

 

Another asking $1.45m - $1.55m has gone under contract after 6 weeks!

 

My understanding is that upper end of market has been doing pretty well, not the same as for those of us living in the real world!!

 

Houses around us are selling well if priced well. There have been houses on market for over 6 mths as the prices are too high for the current market and the owners haven't dropped the price.

[Andrew from Vista Financial]

Good thread.

 

Just regarding the Housing Construction Grant, it has been extended until the end of the year http://www.revenuesa.sa.gov.au/hcg/index.html it hasn't really had the effect that they wanted/thought it would have.

 

There is still potentially $23,500 all up in grants available for First Home Buyers building new which is very attractive, however the Banks seem to be tightening up around 95% lends at the moment and so achieving above 90% can be toughat the moment.

 

Since these grants are generally not available until slab is laid the 10% deposit plus stamp costs etc are required up front and this is quite hard for First home Buyers to raise in a lot of cases.

 

For me if they want to assist they should be looking at some form of stamp duty concession, that said there are concessions in place for off-plan City apartments but as we know not everyone wants to live in the City.

 

Andy