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Real Estate News Autumn 2021

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Real Estate News Autumn 2021 Real Estate News Autumn 2021 Sam Linn Gail Tuxworth Caitlin Duncan Quarterly Market Review Sales Statistics March Quarter 2021 % Price % Price Median No. Median No. Median No. Median No. Suburb Inc or Inc or House Price Sales House Price Sales Unit Price Sales Unit Price Sales Dec 2020 quarter Mar 2021 quarter Dec Dec 2020 quarter Mar 2021 quarter Dec Araluen 552,500 11 460,000 7 -16.74 405,000 3 475,000 6 +17.28 Braitling 506,000 16 472,500 14 -6.62 470,000 5 442,500 4 -5.85 & Stuart Des. Springs 782,500 6 723,000 7 -7.60 387,500 10 347,000 4 -10.45 & Mt. Johns Insufficient East Side 510,000 19 537,500 8 +5.39 378,000 7 375,000 1 data Gillen 465,000 25 461,000 23 -0.86 305,000 5 314,500 8 +3.11 Kilgariff & Insufficient 611,250 2 N/A 0 N/A N/A N/A 158,000 1 South Edge data Insufficient Larapinta 457,500 10 466,000 8 +1.86 285,000 3 251,000 1 data Rural 725,000 4 900,000 9 +23.14 N/A N/A N/A N/A N/A Insufficient Sadadeen 379,500 8 417,500 6 +10.01 264,500 8 313,000 2 data Insufficient The Gap 390,000 3 423,051 2 data 278,500 8 295,000 4 +5.92 Total 486,150 104 475,250 84 -2.42 359,000 49 350,000 31 -2.51 Median House Price and Sales Numbers since 2007 Median Unit Price and Sales Numbers since 2007 Year ending Number of % change Year ending Number of % change Median Price $ Median Price $ June Sales per annum June Sales per annum 2008 321,000 481 +12.02 2008 225,000 337 +4.65 2009 362,000 480 +12.77 2009 250,000 296 +11.11 2010 429,500 388 +18.64 2010 318,500 277 +27.4 2011 461,000 359 +7.34 2011 346,000 196 +8.6 2012 452,300 320 -0.9 2012 335,000 135 -3.17 2013 454,000 365 +0.9 2013 329,000 178 -1.79 2014 461,250 335 +1.59 2014 337,000 188 +2.43 2015 455,000 339 -1.34 2015 345,000 161 +2.37 2016 485,000 257 +6.6 2016 335,000 145 -2.9 2017 465,000 314 -4.12 2017 305,000 115 -8.9 2018 480,000 321 +3.23 2018 303,000 149 -0.66 2019 470,000 283 -2.03 2019 310,000 121 +2.3 2020 465,000 260 -1.06 2020 327,000 119 +5.4 Disclaimer. Editorial comment provided by Sam Linn, Principal L.J. Hooker Alice Springs. Research figures compiled by L.J. Hooker Research Department from information supplied by the Lands Title Office, Darwin NT. Whilst every care has been taken in compiling this information, readers should make their own investigations before undertaking any action in the real estate market. How to get the best price for your home When someone decides to sell their property, their sights are often set on one goal: getting the best price. This may seem like a straightforward aim, however, there are lots of smaller moving parts to achieving this. Here are a few top tips to boost the end result, even if your home is already on the market. Renovate without over-capitalising Small upgrades can make a huge overall impression to the property. However, it’s crucial that you do not over-capitalise on renovations, as you may risk not seeing a return on your investment in the final sale price. Ask your real estate agent where it is best to invest according to the buyers in your area. Market your property strategically Your marketing should be actively working for you and be reaching the exact niche of buyers you are seeking. For example, if you are selling a starter property that might appeal to young people, Before setting out to get a certain figure, keep in mind that it must be advertise on social media platforms. If you are hoping to attract a realistic. Sometimes, a certain price is just not achievable due to the high-net-worth buyer, get your agent to sift through their database features of your property. The first step is understanding your local and find buyers. market, so get the opinions of a few property experts and compare their estimates to figure out the rough value of your home. Take the best offer for you The next step is choosing the right time to sell. Property markets can Remember that the best offer, which may not necessarily be the fluctuate due to calendar events that are important to buyers in the highest, comes in twos or multiples. Sometimes higher offers may area. For example, Chinese national buyers looking to enter the have incredibly long settlement times or can even include clauses Australian market often find Chinese New Year to be a good time to asking for you to renovate parts of the property before they move in. buy. That said, there is no blanket season or date that is the best So, work with your agent and conveyancing solicitor to look closely at time for anyone to sell, it is rather nuanced times for each area. the terms and conditions of the sale contract, and determine which offer works the best for your situation. Finally, understand what it costs to sell a home. It is no cheap task running a property campaign, particularly if you are looking for Rely on the experts to do the hard work premium marketing strategies such as print media and videography. Real estate agents are experts in their core property market and can Get a quote from your sales agent on how much your integrated help substantially on your sale campaign. They can guide and advise, marketing campaign will cost, and what they recommend is but also drive the campaign forward and ensure buyers are found. essential and what is ‘nice to have’. Talk to your local LJ Hooker agent when looking for an area expert as it will help you get the most profitable sale. Once you have already gone to the effort of listing your home, there are a few things that will boost your sale price during the campaign. The suburbs where people are unlocking millions No doubt real estate is a hot commodity, especially in the current market. Research by CoreLogic, comparing house prices over the last five years, discovered that many suburbs now have a median house price with seven figures, demonstrating that this could be the perfect time to get your home valued. Five years ago, 409 suburbs had a median house price above the Apartments worth over a million dollars one million dollar mark; that’s now jumped to a staggering 559 Surprisingly, units are now averaging over a million in some suburbs, suburbs. particularly in Sydney and Melbourne. Only 17 suburbs had an average apartment price above a million dollars five years ago. That It’s a seller’s market exploded to 62 suburbs in 2020 or 264% growth. Many people with job security are looking to buy. Holiday plans have Data showed that apartments along Sydney’s Northern and Eastern been put on hold and priorities have changed, but there aren’t beach suburbs such as Clovelly, Manly and Bondi have passed a enough properties to meet the demand. So, this high demand for real million. Affluent Melbourne suburbs Black Rock, Ashburton and Balwyn estate has pushed up the price. North also made the list, thanks to high population growth and limited space. “Low interest rates and some of the stimulus measures the government has rolled out has seen a strong rise in buyer demand. Canberra and Adelaide have stepped up There is also a lack of listings at the moment which means less competition amongst sellers,” says Tiller. Netherby, on the edge of the trendy and affluent Unley in Adelaide, now has homes valued over a million. The eastern inner-city suburbs of Tusmore and Hawthorn also make the list. The sea and tree change It’s not only inner-city houses that are worth over a million dollars To live in Deakin, alongside the official residence of the Prime Minister, nowadays. “Major regional centres make up the majority of new The Lodge, and the Royal Australian Mint, you need to save your suburbs added to the $1 million club. People may not need to be in pennies. Ainslie in ‘old Canberra’ has also made the club, with its the office every day, so they can live a little bit further out of a capital heritage buildings and great location between the city and the bush. city and commute one or two days a week. That’s happening a lot more now,” says Tiller. Are you a millionaire? Victorian seaside towns Lorne, Sorrento and Mount Eliza have more If you’re thinking of selling your home, now is the perfect time to get than doubled in price in the last five years. You can expect big sales your property valuated. With low interest rates, high demand for in the Southern Highlands town of Bowral in NSW and Macmasters property and less employment volatility, it’s a seller’s market. Whether Beach on the central coast. you own an apartment or a house, you’ll probably be pleasantly surprised at how much your property is worth. Southerners with a spare million are flocking to the Noosa area and Currumbin Valley and the report also named Queensland’s Hope Speak to your local LJ Hooker agent about your property's value.
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