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 GENERAL MANAGER for New South Wales Rob Forde claims real estate nsw owners will be ecstatic, however he adds that the stats raise the issue of housing price for first home buyers."First house purchasers are having to come in with an extra AUS$50,000, compared with this time last year and wages have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first home purchasers active in the outer city limits, with first house purchasers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers wanting to get into real estate nsw are looking 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 house purchasers of real estate nsw is to buy a flat instead of a more expensive free standing home and Forde claims that this is the option that most younger purchasers take. Although Forde adds that apartments are not cheap either, with new release residences in the CBD dumping the plans for a minimum of AUS$500,000.
Forde reveals that price has not dampened first house buyer fervour with more first house purchasers purchasing real estate nsw than ever seen before, "The serious plus for first home buyers is that so long as real estate nsw expands in price, the greater their equity. The first home buyers of one year gone, now have at least 14.3% more equity in their property than they did when they first acquired. This is a gigantic driver for first home buyers, the other motivating factor is low IRs. "
First home buyers are becoming very leading edge in tactics to come up with capital asserts Forde, "Folks are definitely in the equation, with many folks turning up to auctions or entering into co-ownership agreements with their child and more often than not, the childs partner. Getting into real estate nsw is rather a fiscal challenge for first time buyers and elders realise they had a far easier time and so are now happy to help their kids out. "
The other common occurrence with real estate nws is the 1st time customer who purchases a property with the aim of hiring 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 householders there are plenty more folk who plan to stay renting ," concludes Forde.
Harcourts real estate GENERAL MANAGER for New South Wales Rob Forde claims real estate nsw owners will be ecstatic, however he adds that the stats raise the issue of housing price for first home buyers."First house purchasers are having to come in with an extra AUS$50,000, compared with this time last year and wages have not increased by that much over the same time period. "
Forde adds that Harcourts have seen first home purchasers active in the outer city limits, with first house purchasers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers wanting to get into real estate nsw are looking 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 house purchasers of real estate nsw is to buy a flat instead of a more expensive free standing home and Forde claims that this is the option that most younger purchasers take. Although Forde adds that apartments are not cheap either, with new release residences in the CBD dumping the plans for a minimum of AUS$500,000.
Forde reveals that price has not dampened first house buyer fervour with more first house purchasers purchasing real estate nsw than ever seen before, "The serious plus for first home buyers is that so long as real estate nsw expands in price, the greater their equity. The first home buyers of one year gone, now have at least 14.3% more equity in their property than they did when they first acquired. This is a gigantic driver for first home buyers, the other motivating factor is low IRs. "
First home buyers are becoming very leading edge in tactics to come up with capital asserts Forde, "Folks are definitely in the equation, with many folks turning up to auctions or entering into co-ownership agreements with their child and more often than not, the childs partner. Getting into real estate nsw is rather a fiscal challenge for first time buyers and elders realise they had a far easier time and so are now happy to help their kids out. "
The other common occurrence with real estate nws is the 1st time customer who purchases a property with the aim of hiring 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 householders there are plenty more folk who plan to stay renting ," concludes Forde.
About the Author:
Harcourts Australia offer real estate for sale, land and places on sale, rentals and commercial leasing, agricultural property sales, way of living real estate and business right across Australia.