Superb news for home property owners of real estate nsw, property values increased 4.9% over the December quarter, making the annual growth for Sydney property 14.3%.
Harcourts real estate GENERAL MANAGER for New South Wales Rob Forde announces real estate nsw owners will be euphoric, however he adds that the statistics raise the issue of housing price for first home buyers."First home buyers are having to come in with a further AUS$50,000, compared against 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 buyers active in the outer city limits, with first house buyers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers desiring 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 asserts that this is the option that most younger buyers take. Although Forde adds that residences are not cheap either, with new release apartments in the CBD dumping the plans for a minimum of AUS$500,000.
Forde highlights that price has not dampened first house buyer enthusiasm with more first home buyers purchasing real estate nsw than ever seen before, "The major plus for first house buyers is that so long as real estate nsw expands in price, the larger their equity. The first home purchasers of one year gone, now have at least 14.3% more equity in their property than they did when they first acquired. This is an enormous driver for first house purchasers, the other motivating factor is low rates. "
First home buyers are becoming extremely cutting edge in techniques to come up with capital claims Forde, "Elders are definitely in the equation, with a lot of 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 elders realise they had a far easier time and so are now happy to help their children out. "
The other frequent event with real estate nws is the first-time buyer 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 householders there are a lot more people who mean to stay renting ," concludes Forde.
Harcourts real estate GENERAL MANAGER for New South Wales Rob Forde announces real estate nsw owners will be euphoric, however he adds that the statistics raise the issue of housing price for first home buyers."First home buyers are having to come in with a further AUS$50,000, compared against 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 buyers active in the outer city limits, with first house buyers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers desiring 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 asserts that this is the option that most younger buyers take. Although Forde adds that residences are not cheap either, with new release apartments in the CBD dumping the plans for a minimum of AUS$500,000.
Forde highlights that price has not dampened first house buyer enthusiasm with more first home buyers purchasing real estate nsw than ever seen before, "The major plus for first house buyers is that so long as real estate nsw expands in price, the larger their equity. The first home purchasers of one year gone, now have at least 14.3% more equity in their property than they did when they first acquired. This is an enormous driver for first house purchasers, the other motivating factor is low rates. "
First home buyers are becoming extremely cutting edge in techniques to come up with capital claims Forde, "Elders are definitely in the equation, with a lot of 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 elders realise they had a far easier time and so are now happy to help their children out. "
The other frequent event with real estate nws is the first-time buyer 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 householders there are a lot more people who mean 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.
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