National News Australia

BuyersBuyers releases 2022-3 Investor Special Report and top suburb picks

Published

2 years ago

1 August 2022

JeffG

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BuyersBuyers releases 2022-3 Investor Special Report and top suburb picks

BUYERSBUYERS

Property market moves into downturn phase

Australia’s housing market will be digesting the prospect of rising interest rates over the next six months, leading to a downturn which will present some opportunities for counter-cyclical investors, according to Pete Wargent, co-founder of Australia’s national marketplace for property buyer’s agents, BuyersBuyers.

Mr Wargent said, “the Australian economy has rebounded far more quickly than anyone could have dared to hope but combining the rebound in demand with supply chain disruptions means that the second half of 2022 will see some of the highest headline inflation prints in approximately three decades”.

“The prospect of the cash rate target potentially rising from close to zero towards 3 per cent by the end of this year will be a serious handbrake on housing market sentiment and activity, not least because so many younger borrowers have never experienced interest rate hikes before, let alone the fastest tightening cycle since 1994”.

“Our best estimate is that the property market downturn will continue for as long as borrowers fear rising mortgage rates, led by Sydney and Melbourne, and this is likely to mean for at least the remainder of 2022”.

“The flip side to this is that the underlying housing market fundamentals are strengthening, with immigration visas set to be fast-tracked to address Australia’s skills shortage, the lowest unemployment rate in 50 years, and incomes now rising” Mr Wargent said.

Top suburb picks

BuyersBuyers CEO Doron Peleg said that the national marketplace for buyer’s agents has now released its Investor Special Report for 2022-3, assessing the outlook for each of Australia’s states and territories.

Mr Peleg said, “using our unique housing market analysis tools, we have not only taken a macro view in our Investor Report, but we have also identified some of our favourite suburb picks and investment hotspots.”

“In New South Wales, we expect there to be a sharp rebound in sentiment and activity in early 2023, especially in the sub $1.5 million price brackets, as the long-discussed stamp duty reform kicks in for first homebuyers from January. All of our suburb picks for houses and units therefore reflect this, as well believe the property market recovery will be driven from then entry level price points upwards” Mr Peleg said.

Buyers co-founder Pete Wargent said that the Melbourne market has been significantly disrupted over the past couple of years, with extended lockdowns and COVID restrictions and decline in the population as residents headed interstate to south-east Queensland.

Mr Wargent said, “the relative underperformance of the Melbourne market means that there are some attractive deals on offer for counter-cyclical investors in suburban houses. Some counter-cyclical investors are also now looking at investment grade units in Melbourne, after a decade of underperformance, particularly where they can find assets with a point of scarcity.”

Mr Wargent said, “in south-east Queensland the rental market remains extraordinarily tight following the fastest net interstate migration to the state in Australia’s history, which is still continuing.”

“SEQ has benefited from remote and flexible working arrangements more than any other state, and there are some excellent opportunities to buy houses in Brisbane, Gold Coast, and Sunshine Coast. Price growth has been strong over the past 18 months in Queensland, so investors need to be discerning, buy carefully, negotiate hard, and take a long-term view, perhaps out to the 2032 Brisbane Olympics”.

Mr Wargent said that after a relatively quiet decade a looming rental crisis and relative affordability is driving a tremendous surge in interest from investors looking to buy in Adelaide.

“Two of the key features of the past couple of years have been a ‘race for space,’ and water as a drawcard for property buyers. Some of Adelaide’s beachside suburbs tick both of these boxes, and from relatively attractive price entry points as compared to the larger capital cities.”

Counter-cyclical opportunities

BuyersBuyers CEO said that the 2022-3 Investor Report will be made available via the company’s website.

Mr Peleg said, “average household sizes declined through the pandemic, and despite a large volume of dwellings under construction, there is going to be tremendous pressure on Australia’s housing stock over the next few years as immigration ramps up again.”

“As population rises towards 350,000 to 400,000 per annum by the end of next year, and as borrowers realised that mortgage rates are still relatively low in absolute and historic terms, we believe that the second half of 2022 will prove to be an attractive period to buy for investors seeking an inflation hedge as rents soar.”

“There is an excellent opportunity to buy with far less competition and to negotiate hard on quality assets for the long term” Mr Peleg said.

“Of course, borrowers need to factor in that mortgage rates will inevitably rise from here, and to take a long-term view of investment property as an asset class.”

ENDS

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Related Topics:BuyersBuyers releases 2022-3 Investor Special Report and top suburb picks

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Port Macquarie

Call for more mates to support Port Macquarie’s Sailability

Published

2 weeks ago

27 September 2024

JeffG

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Call for more mates to support Port Macquarie’s Sailability

Vision available: https://tinyurl.com/mrz9nhz7

The Port Macquarie community group, Sailability, is calling for volunteers ahead of this year’s sailing season, as the club prepares to take to the Hastings River again on Wednesday 25 September.
Sailability is a volunteer organisation whose mission is to offer people with varying abilities freedom on the water.
The club uses a fleet of specially designed sailing dinghies with simplified controls and enhanced stability to hold weekly sailing days for people living with physical and mental disability.
The club received $55,920 from the NSW Government to extend its carpark and complete landscaping around its new boat shed and accessible amenities block, as well as to install six accessible picnic tables in McInherney Park.
The not-for-profit club is the only organisation of its kind in the area and its 80 volunteers cater to approximately 60 sailors each week.
The group provides its services at no charge, with sailors coming from disability support units at local schools in Port Macquarie, Wauchope, Laurieton and Kempsey, as well as disability service providers, aged care facilities and private enquiries.
Census statistics for show there are approximately 6,000 people with serious or profound disability in the Port Macquarie area, and the club struggles to meet the demand for its services.
People keen to get involved in volunteering with the club can attend McInherney Park on Wednesdays between September and May to learn more, or go to www.sailabilitypm.com.au and click the Contact Us tab.
Minister for Agriculture and Regional NSW, Tara Moriarty said:
“This fantastic community group is really making waves in terms of improving quality of life for people in the Port Macquarie area with disability.
“It’s wonderful to see people experience a sense of achievement and improved self-confidence and self-esteem through their participation in Sailability’s program.”
Parliamentary Secretary for Disability Inclusion, Liesl Tesch* said:
“Sailability is a beacon of hope and inclusion in Port Macquarie. By fostering a sense of belonging on the water, they’re not only enhancing the lives of people with disability but also enriching the entire community.”
“The amazing volunteers at Sailability do such important work helping build confidence and resilience for so many people in the region each week.”
*Liesl Tesch is a seven-time Paralympian including winning two gold medals in sailing
Sailability Port Macquarie volunteer Rick Eller said:
“The club has come a long way from humble beginnings when it launched in December 2012, we were using two borrowed boats at the time, we had a handful of volunteers, and we were borrowing life jackets from the SES or emergency services here in Port Macquarie.
“The best part about working for Sailability is the expressions and the smiles when the people who’ve been sailing come back to the pontoon, that’s what makes it all worthwhile.”
Sailability Port Macquarie Vice President Julie Constable said:
“It’s extremely important that people are aware that people with a disability are very able and keen to get out into society so something like this is off great benefit to the community.”

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Cowra

Teen charged with multiple property offences in Cowra – Operation Regional Mongoose

Published

2 weeks ago

26 September 2024

JeffG

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Teen charged with multiple property offences in Cowra – Operation Regional Mongoose

Tuesday, 24 September 2024 02:01:49 PM
A teen will face court charged following investigations into multiple property-related offences in the state’s central west.

Operation Regional Mongoose is a high-visibility police operation to tackle serious property-related crime, committed predominately by young offenders.

About 4.30am yesterday (Monday 23 September 2024), emergency services were call to the low level bridge adjacent to Grenfell Road, Cowra, following reports a Subaru sedan was well alight.

Officers attached to Chifley Police District attended and commenced an investigation into the circumstances surrounding the fire.

Checks revealed the car was allegedly stolen from a home on Liverpool Street, Cowra, between 7.30pm on Sunday (22 September 2024), and 4.30am yesterday (Monday 23 September 2024.

Following inquiries, about 2am today (Tuesday 24 September 2024), police were patrolling Young Street, Cowra, when they stopped and spoke to a 17-year-old boy sitting in a park.

The boy was subjected to a search, and police located gloves, a box cutter and keys to a Subaru.

He was taken to Cowra Police Station and charged with;

Steal motor vehicle
Aggravated break and enter dwelling in company steal
Take and drive conveyance without consent of owner
Custody of knife in public place
Possess housebreaking implements
Never licensed person drive vehicle on road
Goods in personal custody suspected being stolen, and
Commit S154C offence and disseminate.
The teen was refused bail to appear at a Children’s court today (Tuesday 24 September 2024).

Inquiries under Operation Regional Mongoose continue.

Anyone with information about Operation Regional Mongoose is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence. The public is reminded not to report information via NSW Police social media pages.

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Bathurst

Man charged after allegedly threatening police – Bathurst

Published

2 weeks ago

26 September 2024

JeffG

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Man charged after allegedly threatening police – Bathurst

Tuesday, 24 September 2024 12:58:23 PM

A man is due to face court over alleged death threats made towards police officers in the Central West region.

About 10pm on Saturday 21 September 2024, a man allegedly called Triple 0 and threatened to kill a police officer and a judicial officer.

Officers attached to Chifley Police District were alerted and commenced an investigation into the incident.

Following extensive inquiries, police arrested a 37-year-old man at a home on Seymour Street, Bathurst, about 12.15pm yesterday (Monday 23 September 2024).

Police executed a search warrant at the home, where they located and seized laptops, a mobile phone, and other items, which will undergo forensic examination.

The man was taken to Bathurst Police Station and charged with use carriage service to threaten to kill; hinder or resist police officer in the execution of duty and fail to comply digital evidence access order direction.

The man was refused bail to appear at Bathurst Local Court tomorrow (Wednesday 25 September 2024).

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