Great news for home property owners of real estate nsw, property values increased 4.9% over the December quarter, making the once a year trend for Sydney property 14.3%.
Harcourts real estate Manager for New South Wales Rob Forde claims real estate nsw owners will be happy, however he adds that the statistical data raise the issue of housing affordability for first home buyers."First house purchasers are having to come in with a further AUS$50,000, compared against this time last year and incomes have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first house purchasers active in the outer city limits, with first home buyers accepting the necessity to commute 50km or more into the CBD. "The average first home purchasers wanting to get into real estate nsw are taking a look at an AUS$400,000 plus spend, and the closer that spend is to AUS$400,000, the further away from the Sydney CBD they'll be. "
Other options available to first home buyers of real estate nsw is to buy an apartment instead of a dearer free standing home and Forde says that this is the option that most younger purchasers take. Although Forde adds that residences are not cheap either, with new release apartments in the CBD selling off the plans for a minimum of AUS$500,000.
Forde reveals that price has not dampened first home buyer keenness with more first house purchasers purchasing real estate nsw than previously, "The serious plus for first house purchasers is that so long as real estate nsw expands in price, the bigger their equity. The first house buyers of one year gone, now have at least 14.3% more equity in their property than they did when they first purchased. This is a big driver for first home buyers, the other motivating factor is low rates. "
First home buyers are becoming extremely innovative in tactics to come up with capital says Forde, "Parents are definitely in the equation, with many parents turning up to auctions or entering into co-ownership agreements with their child and very frequently, the childs partner. Getting into real estate nsw is rather a money challenge for first time consumers and folks realise they had a much easier time and so are now happy to help their children out. "
The other commonplace occurrence with real estate nws is the first-time consumer who purchases a property with the aim of renting it out, in order that they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first home owners there are plenty more folk who mean to stay renting ," concludes Forde.
Harcourts real estate Manager for New South Wales Rob Forde claims real estate nsw owners will be happy, however he adds that the statistical data raise the issue of housing affordability for first home buyers."First house purchasers are having to come in with a further AUS$50,000, compared against this time last year and incomes have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first house purchasers active in the outer city limits, with first home buyers accepting the necessity to commute 50km or more into the CBD. "The average first home purchasers wanting to get into real estate nsw are taking a look at an AUS$400,000 plus spend, and the closer that spend is to AUS$400,000, the further away from the Sydney CBD they'll be. "
Other options available to first home buyers of real estate nsw is to buy an apartment instead of a dearer free standing home and Forde says that this is the option that most younger purchasers take. Although Forde adds that residences are not cheap either, with new release apartments in the CBD selling off the plans for a minimum of AUS$500,000.
Forde reveals that price has not dampened first home buyer keenness with more first house purchasers purchasing real estate nsw than previously, "The serious plus for first house purchasers is that so long as real estate nsw expands in price, the bigger their equity. The first house buyers of one year gone, now have at least 14.3% more equity in their property than they did when they first purchased. This is a big driver for first home buyers, the other motivating factor is low rates. "
First home buyers are becoming extremely innovative in tactics to come up with capital says Forde, "Parents are definitely in the equation, with many parents turning up to auctions or entering into co-ownership agreements with their child and very frequently, the childs partner. Getting into real estate nsw is rather a money challenge for first time consumers and folks realise they had a much easier time and so are now happy to help their children out. "
The other commonplace occurrence with real estate nws is the first-time consumer who purchases a property with the aim of renting it out, in order that they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first home owners there are plenty more folk who mean to stay renting ," concludes Forde.
About the Author:
Harcourts Australia offer real estate for sale, land and homes on sale, rentals and commercial leasing, rustic property sales, lifestyle real estate and business right across Australia.
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