PROPERTY MARKET NEWS & ANALYSIS
VIEWS, AN EXTRA BATHROOM OR A GARDEN ARE NOT AS IMPORTANT FOR HOMEBUYERS AS BEING CLOSE TO PUBLIC TRANSPORT.
THE DOWNTURN IN HOUSING COULD BE TURNING AROUND WITH NEW FIGURES SHOWING AN UPTICK IN THE NUMBER OF AUSTRALIANS SEEKING HOME LOANS IN APRIL.
FOR MANY YEARS, THE NUMBER OF REGIONS WHERE YOU COULD FIND POSITIVELY GEARED AREAS IN AUSTRALIA TO INVEST IN WERE IN SHORT SUPPLY.
FOR MANY YEARS IN THE LATE 1990'S THROUGH TO THE MID 200'S, THE HOT TOPIC AT DINNER PARTIES WAS THE PROPERTY MARKET.
IT'S BEEN DOCUMENTED BY A NUMBER OF GLOBAL STUDIES THAT AUSTRALIA IS AT THE TOP OF THE LIST WITH CITIES SUCH AS LONDON, NEW YORK AND HONG KONG WHEN IT COMES TO UNAFFORDABLE HOUSING.
WITH STEADY HOUSE PRICES, HIGHER RENTAL INCOMES AND RENTAL DEMANDS, THIS YEAR IS SHAPING UP TO BE THE YEAR OF THE INVESTOR.
AFTER A PARTCHY START IN 2011, THE PROPERTY MARKET IS TIPPED TO REGAIN STEAM IN THE SECOND HALF OF THE YEAR ACCORING TO INDUSTRY FORECASTER BIS SHRAPNEL.
SELLING HOUSE CAN BE AN EXPENSIVE PROPOSITION. THERE ARE AGENT'S FEES, MARKETING, LEGALS AND THEN A HOST OF OTHER COSTS WHEN YOU GO TO BUY AGAIN. RENOVATING CAN BE A CHEAPER WAY TO REINVIGORATE THE HOME, BUT THERE ARE A LOT OF FACTORS AND COSTS WHICH NEED TO BE CONSIDERED FIRST.
According to a survey by PRDnationwide, 57 per cent of home buyers considered public transport as the most important amenity to have nearby when purchasing a property.
PRDnationwide research director Aaron Maskrey said increasingly congested roads and rising fuel costs meant public transport was now higher on buyers' wish lists than ever before.
A reliable train, bus or ferry terminal nearby can add thousands to the purchase price and create greater competition for the property,†he said. The survey also found 16 per cent considered a supermarket was paramount while 12 per cent felt a café or restaurant was most important to have close by.
Mr Maskrey said seeking out good amenity is a priority for many house hunters - including first home buyers. Buyers crave convenience,†he said. Mr Maskrey said only eight per cent wanted a school in close proximity. People are choosing a property based on how it fits into their lifestyle - not just how many bedrooms and bathroom it has," he said.