Superb news for residential property owners of real estate nsw, property values increased 4.9% over the December quarter, making the yearly expansion for Sydney property 14.3%.
Harcourts real estate GENERAL MANAGER for New South Wales Rob Forde announces real estate nsw owners will be happy, however he adds that the statistical data 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 home buyers accepting the necessity to commute 50km or more into the CBD. "The average first house buyers needing to get into real estate nsw are having 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 a flat instead of a dearer free standing home and Forde claims that this is the option that most younger customers take. Although Forde adds that flats are not cheap either, with new release apartments in the CBD unloading the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first house buyer fervour with more first house purchasers purchasing real estate nsw than ever seen before, "The major plus for first house purchasers is that so long as real estate nsw expands in price, the greater their equity. The first house buyers of one year back, 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 home buyers, the other motivating factor is low rates. "
First home buyers are becoming very cutting edge in tactics to come up with capital says Forde, "Elders are definitely in the equation, with a lot of 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 money challenge for first time purchasers and elders realise they had a much easier time and so are now happy to help their children out. "
The other common occurrence with real estate nws is the 1st time customer who purchases a property with the intention 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 home owners there are plenty more folks 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 happy, however he adds that the statistical data 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 home buyers accepting the necessity to commute 50km or more into the CBD. "The average first house buyers needing to get into real estate nsw are having 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 a flat instead of a dearer free standing home and Forde claims that this is the option that most younger customers take. Although Forde adds that flats are not cheap either, with new release apartments in the CBD unloading the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first house buyer fervour with more first house purchasers purchasing real estate nsw than ever seen before, "The major plus for first house purchasers is that so long as real estate nsw expands in price, the greater their equity. The first house buyers of one year back, 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 home buyers, the other motivating factor is low rates. "
First home buyers are becoming very cutting edge in tactics to come up with capital says Forde, "Elders are definitely in the equation, with a lot of 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 money challenge for first time purchasers and elders realise they had a much easier time and so are now happy to help their children out. "
The other common occurrence with real estate nws is the 1st time customer who purchases a property with the intention 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 home owners there are plenty more folks 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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