The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
9
print
Print
ResidentialRenee McKeownMon 07 Dec 20

Property Market Swings from Buyers to Sellers

f8e2f656-380e-481c-aeed-11a0e36f3766

The property industry is turning from a buyers market into one that favours sellers with property prices on the up as interest rates continue to fall.

Melbourne reclaimed its place as the auction capital with 874 homes to auction over the weekend ahead of Sydney at 871 according to Corelogic data.

Nationally there were 2,065 homes on auction at a clearance rate of 75.1 per cent on the weekend which is an improvement from the week before but still below the 2,912 auctions in 2019.

The number of auctions and listings are expected to keep rising with house prices predicted to jump 8-12 per cent in Melbourne and Sydney, while South East Queensland jumps 6-10 per cent.

House price forecasts for 2021

City Forecast
Sydney8-12%
Melbourne8-12%
Brisbane and SEQ6-10%
Perth4-8%
Adelaide5-8%
Canberra and ACT5-8%

^Source: Riskwise

Riskwise Property Research chief executive Doron Peleg said the latest forecasts reflect improved market conditions, stimulatory settings, and the successful containment of Covid in Australia.

“While some risk areas of the market remain, especially in some of the oversupplied unit segments of the market, overall, 2021 is set to be a strong year of capital growth in Australian property,” Peleg said.

Buyersbuyers.com.au chief executive Pete Wargent said the jump in price predictions over the past three months have pushed the market in favour of sellers.

“Enquiry has picked up strongly over the past six weeks, initially from first homebuyers, but now also from investors,” Wargent said.

“We expect to see a strong 2021 for housing, with more and more investors coming back into the market.

“With investment loans now available in the 2 to 3 per cent range, comparatively speaking yields are now looking more attractive in many areas, and the investors are returning.”

Despite what looked as a year of turmoil for the property industry major banks have scrapped initial forecasts which saw prices dropping up to 15 per cent.

Meanwhile areas including the Byron Shire have seen house prices surge and top school catchments have increased by 25 per cent or more in the past 12 months.

ResidentialAustraliaReal EstateSector
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
The two towers, of 35 and 34 storeys, help cement the SA capital’s growing status as the best place in Australia for the…
LATEST
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/property-market-swings-from-buyers-to-sellers