November Real Estate Report

More documents

Recommendations

Info

Capital city rental markets continue to report diverging results with significantly lowerand falling vacancy rates for houses offset by higher rates for units. This reflectssharply falling demand and increased supply of units - particularly in inner-city Sydneyand CBD Melbourne.Closed borders have resulted in a surge of previous holiday rentals into the permanentmarket and a significant fall in demand from international students and fewerprospective first home buyers who are now purchasing in record numbers.Higher demand for houses may indicate a shift in preference for larger homes to caterfor increased home-office requirements and a declining priority for residential proximityto CBD workplaces through remote workplaces.As a consequence, unit rents are now generally falling with Sydney recording thesharpest decrease In average daily median asking rents for houses and units over themonth falling by 2.4% and 2.9% respectively.Capital City Daily Median Weekly Asking Rents October 20HousesUnitsCapitalOctoberUnitsOctoberMonthSydney$516-2.4%$478-2.9%Melbourne$443-1.6%$400-1.5%Brisbane$4020.2%$412-1.6%Adelaide$418-0.5%$361-1.1%Perth$4020.8%$379-0.3%For Investors, capital city gross yields were generally easier over October for bothhouses and units driven by a combination of upward pressure on prices and lowerrents - particularly for units. Sydney maintained the lowest yields with Adelaide thehighest for units.
Capital City Daily Median Weekly Asking Rents October 20HousesUnitsCapitalYieldChangeYieldChangeSydney2.41%--2.71%4.25%-1.87%Melbourne2.75%-2.28%4.53%-1.59%Brisbane3.64%1.59%5.99%-2.05%Adelaide4.04%0.17%6.56%-2.83%Perth3.90%-0.61%5.95%-0.08t%Broken Hill reported the highest Local Government Area gross yields for houses overOctober with Cairns the highest for units.
Page 1 and 2: National Housing Market Investors R
Page 3 and 4: Dr Andrew WilsonChief EconomistMid-
Page 5 and 6: National Newly Listed Homes Daily I
Page 7: OctoberNovemberAverage Weekend Newl
Page 11 and 12: All states, with the exception of s
Page 13 and 14: ABS Annual Building Approvals Rolli
Page 15 and 16: ABS Home Loans Seasonal Adjusted Mo

November Real Estate Report

Create successful ePaper yourself

Delete template?

Save as template?