Apartment Sales

<p>The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes in the Northern Territory, according to the Real Estate Institute of Northern Territory (REINT).</p>

<p>It was accompanied by price rises in the Top End property market.</p>

<p>The March 2021 Quarter sales volumes was up a solid 51.1 percent from last year.</p>

<p>The unit/townhouse market showed equally strong results to start the year with sales up by 4.3 percent for the quarter and up 43.3 percent annually.&nbsp;</p>

<p>[smartcode_project:default project_id=29898]</p>

<p>The median price of a 2-bedroom unit continued to climb, up 3.1 percent this quarter to $330,000, which is a 9 percent increase on last year.</p>

<p>Palmerston had very solid sales in units this quarter, up 29.4 percent for the quarter with the median coming up 30.6 percent to $320,000.&nbsp;</p>

<p>The median price of a 3-bedroom house also saw solid gains, up 9.4 percent in the quarter to come in at $547,000. &nbsp;&nbsp;&nbsp;</p>

<p>Palmerston had a strong sales volumes with 115 properties sold &ndash; up 13.9 percent quarterly and up 62 percent annually. &nbsp;&nbsp;</p>

<p>The Palmerston median price also lifted by 7.5 percent to $500,000, which was 17.6 percent higher than March quarter 2020.</p>

<p>Alice Springs quietened a little with 77 transactions, up 71 percent annually in volumes, to a median house price of $469,000.</p>

<p>Alice Springs saw a quieter quarter for unit sales volumes, but did see a small increase in median price to $360,000.</p>

<p>Residential land sales continued very strongly in the March Quarter with blocks under 600sqm lifting by 128.6 percent for the quarter or 242.9 percent annually.&nbsp;</p>

<p>The median price was reasonably steady at $191,000.&nbsp;</p>

<p>&ldquo;The rental market continued to perform very strongly for investors and landlords&rdquo;, stated Quentin Kilian, chief of the Real Estate Institute of Northern Territory (REINT).&nbsp;</p>

<p>Rents on 3-bedroom houses rose 6 percent in the quarter to $538.50 per week, which is an annual rise of 17.3 percent. &nbsp;</p>

<p>Units were fairly static for March, moving up just 0.1 percent to $364.00 per week, however that is 10.3 percent up from March 2020.</p>

<p>Rental yields relaxed a little in March but remained very strong at 5.1 percent for houses and 5.7 percent for units. &nbsp;&nbsp;</p>

<p>&ldquo;We remain one of the best investor markets in Australia with the strongest rental yields of any Australian capital city, and the yields in Katherine and Alice Springs regularly exceed 6 percent&rdquo;, said Mr. Kilian.&nbsp;</p>

<p>Vacancy rates have tightened again from December, coming back to 1.8 percent across Greater Darwin; 1.6 percent in Palmerston and 2.4 percent in Alice Springs. &nbsp;</p>

<p>Unit vacancies in the rural area have hit 0 percent.&nbsp;&nbsp;</p>


The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes according to the Real Estate Institute of Northern Territory (REINT)

jchancellor

Northern Territory two bedroom unit prices up 3.1 percent to $330,000

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<p>Record low interest rates and rising house prices are sustaining the new home construction market confidence into 2021, according to the HIA’s economist, Angela Lillicrap.<br>
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The latest HIA New Home Sales report shows sales in the three months to February 2021 were up 60 per cent on the same three months in the previous year. </p>

<p>"This strong result reflects the significant impact of HomeBuilder on demand for detached housing,” said Ms Lillicrap.<br>
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“HomeBuilder was the catalyst for improving consumer confidence in the housing market."<br>
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She noted the December 2020 surge of new home sales as households rushed to finalise contracts to build a new home before the end of the $25,000 grant.<br>
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The HomeBuilder grant is now at $15,000 until March 30.</p>

<p>“We expect a surge in sales in March but due to the lower grant offering, this surge will not be as large as the December 2020 surge."<br>
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“To receive the HomeBuilder grant, construction is required to commence within six months of signing a contract to build. As a consequence, it is possible that builders will delay the signing of some contracts to allow for greater flexibility and more detailed planning of projects."</p>

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<p>Sales in the three months February 2021 increased across Australia compared to the same time the previous year. </p>

<p>South Australia is up by 149 per cent, followed by Victoria (+69 per cent) and Queensland (+60 per cent). New South Wales increased by 46 per cent and Western Australia is up by 25 per cent over the same period.</p>

<h2><strong>Recently listed properties:</strong></h2>

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Sales in the three months February 2021 increased across Australia compared to the same time the previous year. 

March to see mini HomeBuilder surge in new home sales: HIA

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<p><span>New apartment sales dropped 15.1 per cent nationallyï¿½in November 2015, according to theï¿½Housing Industry Associationï¿½sï¿½new home sales report,ï¿½released on Thursday.</span></p>
<p><span>HIA chief economist Harley Dale said it was a ï¿½confluence of factorsï¿½ that droveï¿½the home construction decline, with aï¿½</span><span>steeperï¿½descent apparent for the ï¿½multi-unitï¿½ market compared to detached houses.</span></p>
<p><span>The HIA New Home Sales Report, a survey of Australiaï¿½s largest volume builders, showed a third consecutive decline in November 2015.</span></p>
<p><span>ï¿½A confluence of factors is driving a decline in leading indicators of new home construction.</span></p>
<p><span>"The lagged effect of slowing population growth, an up-tick in variable mortgage costs, over-reach on the part of APRAï¿½s credit controls, and an easing in property price growth in Sydney and Melbourne are all in play,ï¿½ said Dr Harley Dale.</span></p>
<p><span>"In a welcome sign for the short term residential outlook, leading indicators such as HIAï¿½s new home sales didnï¿½t fall sharply in the second half of 2015."</span></p>
<p><span>HIA new homes sales fell by 2.7 per cent in November 2015, a result driven by a 15.1 per cent drop in ï¿½multi-unitï¿½ sales.</span></p>
<p><span>Detached house sales increased by 1.1 per cent due to a stronger November across the eastern seaboard.</span></p>
<p><span>Over the three months to November last year detached house sales fell by 4.1 per cent while the sale of multi-units dropped by 11.8 per cent.</span></p>
<p><span>In the month of November 2015 detached house sales increased in three out of the five mainland states.</span></p>
<p><span>Detached house sales increased by 8.0 per cent in Queensland, 3.3 per cent in Victoria, and 0.7 per cent in New South Wales. Detached house sales fell by 1.0 per cent in South Australia and by 9.0 per cent in Western Australia.</span></p>
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jchancellor-FAypfDUnLy

HIA's Harley Dale blames APRA credit over-reach for housing construction decline

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<p><span>Downsizing art dealer Marlene Antico sold her 1930s Double Bay apartment for $1.3 million.</span></p>
<p><span>The cosy three bedder was on the fourth floor of the 1930's Princeton art deco block. </span></p>
<p><span>Around $1.2 million had been tipped for the apartment at the rear of the New South Head block.</span></p>
<p><span>It sold through James Dunn at Richardson &amp; Wrench Double Bay.</span></p>
<p><span>Antico bought the 125 sqm apartment in 2012 for $840,000, having sold her Bellevue Hill apartment for just over $1 million.</span></p>
<p><span>Her next gallery exhibition features the works of her son Chris Antico.</span></p>
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Marlene Antico sells in Double Bay

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<p><span style="line-height: 1.3em;">The former Australian basketball star turned businessman Damian Keogh has bought an impressive Cronulla apartment.</span></p>
<p><span>Keogh has paid $2.85 million for the <a href="https://www.realestate.com.au/property-apartment-nsw-cronulla-121147990" target="_blank"><span>three bedroom, two bathroom beachfront apartment</span></a> which sold through Highland Property agents David Highland and Mitchell Wynn.</span></p>
<p><span>The apartment is located in the award winning Tiana which was built by the highly regarded property developers Bezzina Group in 1995.</span></p>
<p><span>A wrap around balcony with dining and entertaining areas looks over the ocean.</span></p>
<p><span>The property last sold in 2013 for $1.925 million. </span></p>
<p><span>Regarded as one of Australia's greatest ever basketballers, Keogh stayed in the sportsworld becoming involved in the Sydney Olympic Games bid team.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>He was then recruited by the Seven Network as the Head of Olympic Marketing, focusing on the promotion of the 2000 Sydney Olympic Games.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>After Keogh worked in the television sales and marketing, he was announced as the chief executive of cinema advertising company Val Morgan in 2013 before being made the CEO at the Hoyts Group.</span></p>
<p><span>Keogh is also the chairman of the Cronulla Sharks NRL team.</span></p>
<p><span>Keogh had long lived in the shire having bought a five bedroom Lilli Pilli house back in 1997 for $800,000.</span></p>
<p><span>The long time Sydney Kings captain represented Australia at three Olympic Games and played 207 times for the national team.</span></p>
<p><span>Keogh married fellow basketballer Maree White in 1986 and have four children.</span></p>
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Damian Keogh scores Tiana, Cronulla apartment

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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ckusher-ujnxiKuFQs

Dwelling construction surges yet housing turnover falls

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<p>Prahran had the top Melbourne auction result on the weekend with a mooted development site selling at $3.6 million.</p>
<p><a href="https://www.realestate.com.au/sold/property-house-vic-prahran-128438542" target="_blank">The 76 Williams Road offering</a> (pictured above) was listed through RT Edgar inconjunction Gross Waddell.</p>
<p>It was a block of five, two bedroom apartments, on separate titles returning $98,016 p.a.</p>
<p>The total land area of 975m2 featured two street frontages, with access via Russell Street.</p>
<p>It was within a short walk to the High Street shops and restaurants, nearby parklands and transport.</p>
<p>Each apartment comprises two bedrooms, open plan kitchen/living room, one bathroom and one car space.</p>
<p>It came with four monthly tenancies and one lease terminating February next year.</p>
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j.ballantyne1990-6AQqhLzZaK

Block of five Prahran apartments sells for $3.6 million.

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<p><span>The Gold Coast has achieved its highest level of apartment sales in five years, with record activity expected to continue, according to new research.</span></p>
<p><span>The latest Urbis Gold Coast Apartment Essentials report revealed a total of 314 transactions occurred among 44 projects between April and June with a weighted average sales price of $558,838.</span></p>
<p><span>Urbis senior consultant Lynda Campbell said developer confidence, affordable product and lifestyle opportunity were pushing a large number of new projects on to the market.</span></p>
<p><span>“Six new projects have launched this quarter with the possibility of another 22 project launches between now and the end of the year. This would bring another 2,500 new apartments on to the market which will keep supply levels strong into 2016,” Ms Campbell said.</span></p>
<p><span>“The Gold Coast has recorded almost 1,100 sales over the last year, an increase of 34 per cent compared to five years ago.</span></p>
<p><span>“We will start to see some price increases in the coming year as new projects are released in prime locations which is likely to increase demand from overseas and interstate investors,” Ms Campbell said.</span></p>
<p><span>The Urbis Gold Coast Apartment Essentials report also revealed the Coastal Fringe was the most active precinct with 159 sales, making up 50 per cent of all transactions.</span></p>
<p><span>Ms Campbell said the Coastal Fringe offered solid returns and good value for developers, investors and owner-occupiers.</span></p>
<p><span>“The precinct offers affordable product and access to major entertainment and retail hubs, providing flexibility for families and for investors,” she said.</span></p>
<p><span>The two-bed two-bath product remained the most popular across all precincts, equating to 58% of all supply.</span></p>
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