Market Check! Is where you live booming?

Discussion in 'Property Market Economics' started by Jess Peletier, 23rd Nov, 2020.

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Is your local area booming?

  1. Yes - going nuts

    93 vote(s)
    43.3%

  2. Yes - better than previously

    77 vote(s)
    35.8%

  3. About the Same

    28 vote(s)
    13.0%

  4. Nah, it's pretty flat.

    13 vote(s)
    6.0%

  5. Nah, it's falling

    4 vote(s)
    1.9%
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  1. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,685
    Location:
    Perth WA + Buderim Qld
    Hey team,

    It seems like the property market is going a bit gang-busters in lots of areas at the moment so I thought it'd be interesting to see where IS and where ISN'T booming.

    Mandurah is going a bit nuts atm, with rentals super tight and properties getting snapped up really quickly.
     
    Jess Peletier, 23rd Nov, 2020
    #1
  2. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,523
    Location:
    Sydney
    Carlingford 2118 NSW, feeling like it's reasonably steady.
     
    spludgey, 23rd Nov, 2020
    #2
    Jess Peletier likes this.
  3. inertia

    inertia Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,617
    Location:
    Newcastle, NSW
    Same with inner Newcastle. Not a lot of population mobility right now, so the properties that are hitting the market are getting a premium, and the rental vacancy rate is extremely low.
     
    inertia, 23rd Nov, 2020
    #3
    Jess Peletier and Islay like this.
  4. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    14,015
    Location:
    Brisbane
    Things around inner south-east - 5 km ring - of Brisbane are selling quickly for good money.

    An agent friend told me a few weeks ago that his agency had sold 60 houses in 90 days.
     
    wylie, 23rd Nov, 2020
    #4
    Pier1, boganfromlogan and Blueskies like this.
  5. MargfromTassie

    MargfromTassie Member

    Joined:
    21st Sep, 2020
    Posts:
    7
    Location:
    Tasmania
     
    MargfromTassie, 23rd Nov, 2020
    #5
  6. hammer

    hammer Well-Known Member

    Joined:
    28th Aug, 2015
    Posts:
    2,867
    Location:
    Darwin
    Darwin has been absolutely bonkers the past few months.

    However starting to now see signs that things are cooling down a little.
     
    hammer, 23rd Nov, 2020
    #6
  7. Morgs

    Morgs Well-Known Member Business Member

    Joined:
    7th Dec, 2017
    Posts:
    1,814
    Location:
    Sydney NSW
    Very strong - OO houses in east of Sydney
     
    Morgs, 23rd Nov, 2020
    #7
    Sackie likes this.
  8. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,816
    Location:
    Paradise, Brisbane
    Where has Martin North disappeared to?
     
    Angel, 23rd Nov, 2020
    #8
    craigc, DueDiligence, Empire and 4 others like this.
  9. fols

    fols Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    737
    Location:
    Sydney
    Zero houses for sale in my Suburb (inner west Sydney).
     
    fols, 23rd Nov, 2020
    #9
    John_BridgeToBricks likes this.
  10. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

    Joined:
    1st Jul, 2015
    Posts:
    1,894
    Location:
    Australia
    Getting very, very warm around the Sutherland shire. As I mentioned in another thread, an agent reported 200 parties showing up to an open in Menai and today I spoke with a broker who had an unsubstantied report that on the weekend a townhouse that had a guide of mid to high $800k went for $990k on the weekend.

    We've definitely seeing more traffic at inspections but obviously doing privates where possible. It's definitely not going backwards!

    Next year could be a perfect storm.

    - Andrew
     
    Last edited: 23rd Nov, 2020
    MyPropertyPro, 23rd Nov, 2020
    #10
    Kr@mer and marty998 like this.
  11. Traveller99

    Traveller99 Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    755
    Location:
    Settled
    He’s headed south last I heard.
     
    Traveller99, 23rd Nov, 2020
    #11
    Heinz57 likes this.
  12. Toucan

    Toucan Well-Known Member

    Joined:
    18th Mar, 2018
    Posts:
    103
    Location:
    Adelaide
    Adelaide has gone nuts since March, low stock levels in both rental & for sale. Everything going fast, even before open inspections. Lots of cash sales too.
     
    Toucan, 23rd Nov, 2020
    #12
  13. Propin

    Propin Well-Known Member

    Joined:
    7th Mar, 2016
    Posts:
    3,672
    Location:
    Perth
    Kingsley - everything is selling first home open but I haven’t really noticed any price increases yet. Greenwood prices have gone up in the past 6 months.
     
    Propin, 23rd Nov, 2020
    #13
    Ketsle likes this.
  14. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
    Posts:
    10,345
    Location:
    Australia
    Might be easier to ask who lives in a market that’s slow.....
     
    Trainee, 23rd Nov, 2020
    #14
    adrian_christian, willair, The Y-man and 2 others like this.
  15. robboat

    robboat Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    177
    Location:
    Sunny Queensland
    Fraser Coast QLD - have heard the vacancy rate is .01%.....o_Oo_O
    Break leases have a wait list....!
    Houses sold in quick time, agents hunting for listings...
    People coming from all over - but Victoria seems a more popular place to leave...:rolleyes:
     
    robboat, 23rd Nov, 2020
    #15
    Toon likes this.
  16. Boss

    Boss Well-Known Member

    Joined:
    9th Mar, 2018
    Posts:
    1,282
    Agnes Water/1770 is experiencing it's strongest market since 2007.

    Vacancy rates at zero.

    Very limited stock for quality houses on acreage near the beach (highest demand property in the area).

    And prices subsequently going through the roof for the above.

    NB: I have friends living in Hervey Bay and Lennox Head...and they're saying that the market is also powering ahead in those areas as well.

    Boom times for East Coast regionals!!!

    Prices will be much higher in 2-3 years!!!

    Be there or be square!!!
     
    Boss, 23rd Nov, 2020
    #16
  17. Boss

    Boss Well-Known Member

    Joined:
    9th Mar, 2018
    Posts:
    1,282
    Spot on.

    Hervey Bay is booming!!!

    Limited stock of quality houses near the beach.

    And people from VIC are arriving in droves.

    So wouldn't be surprised if prices doubled over the next 2-3 years.
     
    Boss, 23rd Nov, 2020
    #17
    Toon and Jess Peletier like this.
  18. Squeakywheel

    Squeakywheel Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    84
    Location:
    Queensland
    Regional Queensland. things are fairly flat , however there isn't many good rental properties available.
     
    Squeakywheel, 23rd Nov, 2020
    #18
  19. Peter gavalas

    Peter gavalas Well-Known Member

    Joined:
    9th May, 2020
    Posts:
    180
    Location:
    Perth
    most Perth suburbs are in very tight supply and loads of competition. Identifying value early is essential, and being up to date with the market. Prices are changing very quickly.
     
    Peter gavalas, 24th Nov, 2020
    #19
    Jess Peletier and Propin like this.
  20. Bon_E

    Bon_E Well-Known Member

    Joined:
    10th Jun, 2020
    Posts:
    61
    Location:
    Goondiwindi, QLD
    North Coast of NSW (Macksville, South of Coffs Harbour). Very very low vacancy rate, 200+ applicants for any new rental properties which is unheard of. Next to nothing for sale, and the good ones are snapped up very quickly.
     
    Bon_E, 24th Nov, 2020
    #20
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