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Australia’s Real Estate Prospects For 2023

We highlight some fundamental elements supporting the growth of Australia’s diverse real estate markets. The Australian real estate market will continue to be influenced by various variables in 2023. There are some bright spots in the next year’s economic and financial prospects, provided you know where to look. Several of the most critical drivers of success in the Australian real estate market are discussed in this article. Residential property market outlook In 2021, after relative stagnation, the residential real estate sector saw explosive expansion. As a result of interest rate increases and increasing prices, 2022 saw much-reduced volumes entering the

January 30, 2023 No Comments

Australia News

Australia’s rich listers are busy trading up over the holidays.

During the holiday season between Christmas and New Year’s, Australia‘s ultra-wealthy have been purchasing and selling luxury residences, such as the $130 million paid by Atlassian Co-founder Scott Farquhar for the Point Piper trophy property ‘Uig Lodge. It’s a record for Australia’s real estate market, representing the highest price ever. According to realestate.com.au, Mr. Farquhar and his investment banker wife, Kim Jackson, purchased a house on Wentworth St. before Christmas, even though it had yet to be posted with agents. Uig Lodge, located on a 3,300 square meter plot, was constructed at the start of the past century to evoke

January 27, 2023 No Comments

Featured

As China reopens its border, Thailand implements new entrance rules.

As Thailand readies itself for an anticipated surge in visitors following the reopening of China’s borders, the country’s aviation authority has swiftly implemented stringent measures to ensure the safety of its populace. With the resumption of international travel, Thailand is taking proactive steps to mitigate the risk of COVID-19 transmission and protect public health. In light of the evolving global pandemic situation, the Civil Aviation Authority of Thailand (CAAT) has announced robust protocols for inbound travelers. These measures aim to safeguard both tourists and local residents against the potential spread of the virus, particularly in densely populated areas and tourist

January 17, 2023 No Comments

New Zealand News

Nearly 40% of all homes for sale have had their prices reduced.

New data shows that the price of almost 40% of properties that were listed with a price in 2022 was later cut. According to new information from realestate.co.nz, property owners are hesitant to advertise their homes for sale. Across the country, December had a 26% decrease in new property listings compared to December 2021. In the last month, only Taranaki and Coromandel had more postings than they had a year ago. However, there remained a wide variety of other homes from which to choose. Coromandel, Nelson and bays, Taranaki, and the central North Island all had more than double the

January 16, 2023 No Comments

Investments

Should you purchase a London house in 2023, as mortgages outpace renting?

Despite declining home costs, renting in the nation’s capital has surpassed buying for the first time in 13 years. In this case, it’s essential to consider if you should enter a volatile market or wait it out. In London, the cost of mortgage payments has surpassed the cost of rent due to increasing interest rates, the cost-of-living problem, and mounting worries about a recession. Buying a home in the capital is now more expensive than renting by £832 a month, according to exclusive data reviewed by Homes & Property, even though house prices have begun to decline. Many first-time buyers

January 13, 2023 No Comments

News

In 2022, London property sellers earned a record £200k profit.

The typical homeowner in London earned £219,110 on selling a home in 2018, or about $23,560 annually. People who purchased a property within the previous 20 years and sold it in 2022 achieved unprecedented six-figure earnings, with the highest gains seen in London. According to recent statistics compiled by Hamptons, homeowners in 17 London boroughs, including Camden, Hackney, and Brent, made profits of more than £200,000 when selling their homes. Sellers in the capital city typically received £23,560 a year after their residences were on the market for 9.3 years. In the United Kingdom, the average annual income for a

January 12, 2023 No Comments

New Zealand News

Home prices: Seven New Zealand districts in buyers’ markets after home values declined in 2022

New data reveals that towards the end of 2022, seven out of New Zealand’s regions have become buyers’ markets due to falling home prices. According to Realestate.co.nz, the property market has seen a significant change in 2022, after an “interesting” year in which the national average asking price trended lower in reaction to growing inflation, interest rate rises, and changed lending restrictions. “Many outside forces have been at work this year. Not only has the New Zealand economy been booming, but the rising prices we saw during the height of pandemic restrictions have also begun to level down, “According to

January 11, 2023 No Comments

Australia News

A healthcare real estate firm reported a $65 million decline in property portfolio value.

The only healthcare-focused property trust listed on the NZX, Vital Healthcare Property Trust (VHP), has seen its property portfolio lose $65 million in value in the last six months. Having just had an independent appraisal of more than half of the company’s assets, VHP, which owns 47 properties spanning Australia and New Zealand, made the news. Stuff reports that the value of the healthcare real estate company’s $3.6 billion portfolio at the end of September fell by 1.9% from the end of June, while the value of the company’s 16 New Zealand subsidiaries, which included hospitals, medical offices, and ambulatory

January 10, 2023 No Comments

Australia News

Property market instability will haunt homeowners in 2023.

There are junctures in the history of Australian families that alter the trajectory of their lives for the foreseeable future. The RBA decreased the cash rate from 17.5 percent to 17.0 percent on February 23, 1990. For the following three and a half years, the cash rate would be reduced steadily until it reached its current low of 4.75 percent. For many Australians, worrying about interest rate hikes became a thing of the past as their threat vanished in late 2010. This turning point permanently altered the homeownership landscape and households’ mentality. The current situation, however, with Australians facing the

January 9, 2023 No Comments

Featured

Thailand’s real estate industry didn’t revive in 2022.

The economic slowdown and increasing inflation and interest rates prevented a complete recovery in Thailand’s real estate market in 2022. It hasn’t helped that there’s been fighting in Ukraine. The rebound was not as strong as it might have been, but things look suitable for 2023. The current reading of 47.9 on Thailand’s Consumer Confidence Index indicates a return to spending optimism for Thai consumers for the first time in 20 years. The easing of lending requirements by the Bank of Thailand, which is about to expire, has prompted clients with a genuine interest in real estate to make purchases.

January 6, 2023 No Comments