Great news for home property owners of real estate nsw, property values increased 4.9% over the December quarter, making the yearly trend for Sydney property 14.3%.
Harcourts real estate CEO for New South Wales Rob Forde announces real estate nsw owners will be happy, 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 home buyers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers needing to get into real estate nsw are taking 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 will be. "
Other alternatives available to first home purchasers of real estate nsw is to buy a house 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 flats are not cheap either, with new release flats in the CBD selling off the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first house purchaser enthusiasm with more first home purchasers purchasing real estate nsw than ever before, "The big plus for first house purchasers is that so long as real estate nsw expands in price, the bigger their equity. The first home 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 a big driver for first home purchasers, the other motivating factor is low interest rates. "
First home buyers are becoming extremely cutting edge in ways to come up with capital says Forde, "Folks are definitely in the equation, with many elders turning up to auctions or entering into co-ownership agreements with their child and more times than not, the childs partner. Getting into real estate nsw is rather a money challenge for first time consumers and folks realise they had a far easier time and so are now happy to help their kids out. "
The other commonplace occurrence with real estate nws is the 1st time buyer who purchases a property with the aim of renting it out, so they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first house owners there are plenty more folks who intend to stay renting ," concludes Forde.
Harcourts real estate CEO for New South Wales Rob Forde announces real estate nsw owners will be happy, 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 home buyers accepting the necessity to commute 50km or more into the CBD. "The average first home buyers needing to get into real estate nsw are taking 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 will be. "
Other alternatives available to first home purchasers of real estate nsw is to buy a house 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 flats are not cheap either, with new release flats in the CBD selling off the plans for a minimum of AUS$500,000.
Forde points out that price has not dampened first house purchaser enthusiasm with more first home purchasers purchasing real estate nsw than ever before, "The big plus for first house purchasers is that so long as real estate nsw expands in price, the bigger their equity. The first home 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 a big driver for first home purchasers, the other motivating factor is low interest rates. "
First home buyers are becoming extremely cutting edge in ways to come up with capital says Forde, "Folks are definitely in the equation, with many elders turning up to auctions or entering into co-ownership agreements with their child and more times than not, the childs partner. Getting into real estate nsw is rather a money challenge for first time consumers and folks realise they had a far easier time and so are now happy to help their kids out. "
The other commonplace occurrence with real estate nws is the 1st time buyer who purchases a property with the aim of renting it out, so they can still receive capital gain. "Demand for quality real estate nsw rental accommodation is high, and for all the potential first house owners there are plenty more folks who intend to stay renting ," concludes Forde.
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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.