DA FACTS ARE DA FACTS
With a strong February behind us, the momentum for 2014 has continued. We are seeing outstanding outcomes for our sellers and they are realising that buying and selling in the same market is nothing short of wisdom. New listings for the forthcoming months are strong and this coupled with a real optimism overall is setting a cracking pace for the year. The Northern Brisbane area has experienced some outstanding results for my sellers with days on market down significantly from last year. This is predominantly driven by supply and demand and not necessarily rapid price growth. It would be fair to say that there are fewer properties on the market compared to the same time last year which is certainly helping our market.
Below is a snapshot of the National market as supplied by RP Data.
Highlights over the three months to January 2014:
- Best performing capital city: Hobart, 7.9 per cent
- Weakest performing capital city: Darwin, -1.2 per cent
- Highest rental yields: Darwin houses with gross rental yield of 6.1 per cent andDarwin units at 6.0 per cent
- Lowest rental yields: Melbourne houses with gross rental yield of 3.4 per cent andMelbourne units at 4.2 per cent
- Most expensive city: Sydney with a median dwelling price of $610,000
- Most affordable city: Hobart with a median dwelling price of $325,000
Courtesy RP Data
Brisbane as a Capital City don’t rate a mention which is not a bad thing. It tells me that we are travelling well and confidently without being extreme in any respect.