Source: Carwardines Land Court Win Recently Leeson Valuers represented a client to have the Land Value of an Industrial Property in the Enoggera Industrial Precinct reduced. Last year the Land Value was $1,350,000.  This year the Valuer General increased the land value to $2,400,000! A 70% increase when both Stafford and Kedron Industrial areas received a 0% increase. Following a big fight in the Land Court the good guys came out with a fairer valuation of $1,750,000. The proble...

Source: CoreLogic After recording stronger growth and milder declines through the recent cycles, a new analysis of Australia's regional housing markets shows many areas have lagged their capital city counterparts over the past year. Since bottoming out in January, values across the combined capitals have risen to new record highs, while the combined regional market remains -2.5% below the peak recorded in May 2022. However, CoreLogic Economist and report author Kaytlin Ezzy s...

Leeson Valuers welcome Alison Dell into the team as a Registered Valuer, having just completed her submissions and interview with the Valuers Registration Board Qld. Alison commenced as an assistant valuer in August 2021 after completing her Property Economics degree from CQ University and has been a great asset to the team. Congratulations Alison!   ...

Source:  PropTrack Brisbane has led the nation in home price growth over the past month, with values hitting a new record high as homeowners brace for a potential rate hike next week, a new report reveals. PropTrack's latest Home Price Index, shows the city's unit and house prices combined gained another half a per cent in October to hit a new median price peak of $773,000 - almost as high as Melbourne's at $815,000 median.  That's the equal biggest increase for th...

Source: Domain In a first, Brisbane is now the second most expensive capital city to rent a unit – jointly with Canberra - after median rents rose to a record high of $550 per week. Brisbane’s median asking unit rent climbed $90 over the past year, or 19.6 per cent, the latest Domain Rent Report for the September quarter,released on Thursday, found, in a record stretch of rent rises that’s fueling extreme rental conditions.  The report showed rental vacancy rates rema...

Source:  Australia and New Zealand Property Journal Medium to high-density housing is an increasingly critical component of Australia’s residential real estate market, with CoreLogic’s August data suggesting units comprise 25.9% of national housing stock and around 30.4% of Australia’s capital city housing stock – up from 19.6% and 22.9% at the start of 2010, respectively. Around 30% cheaper than capital city houses, themedian value of $637,593 capital city unit...

Source: CoreLogic Rent values rose for the 35th consecutive month nationally in July. However, monthly rent growth has eased over the past four months. In regional Australia, rent value growth has been slowing since April last year, and rents are close to flattening out (albeit at high levels). Slowing rent growth is expected to be one of the key housing market trends next year, for several reasons. Firstly, the cash rate is expected to fall, which could increase investment and first home ...

Source:  Australian Property Journal THE dust has settled with sales stabilising in Queensland’s property market whilst some interesting data show units and regional markets growth is outpacing greater Brisbane.
The latest REIQ quarterly median sales data reveals the median house price increased by 4.62% and median unit prices lifting 3% across Queensland, bringing the year-on-year growth to 5.26% and6.91%, respectively.
Queensland’s median house price reached $650,000, and ...

Source: Courier Mail Five key factors will determine whether the property market “springs forward or falls back” over the back end of 2023 and into next year. 1. Interest rates What the RBA does in September with rates is critical. If they raise them, sentiment will drop and so may prices. 2. Supply and demand An over supply of listings will decrease prices. The best buying opportunities will occur towards the end of the year, when restless vendors will accept offers just to ...

Source:  Australian Property Journal NEARLY 500 flood-impacted Queensland families have accepted an offer to have their home bought back under the state government’s Resilient Homes Fund (RHF). The program, a jointly-funded initiative delivered through Commonwealth-State Disaster Recovery Funding Arrangements (DRFA), was established in May last year following the catastrophic 2021-22 rainfall and flooding events. To date, 304 sale contracts under the voluntary home buy-back prog...