PRD Real Estate

Stay in the loop with all things real estate! Follow us on Instagram, Facebook, LinkedIn, and YouTube for expert insights, market updates, and tips you won’t want to miss.

🔑 Brisbane’s growing demand for new residential stock has pushed some unit prices higher than Sydney’s, creating a unique affordability challenge. #HousingMarket

The RBA held the cash rate steady at 4.35% in its final meeting of 2024, with inflation at 3.5%, near the target range. This stability supports confidence as the year ends, despite global challenges. A positive sign for Australia’s economy. #PRDRealEstate #RBA

9/ Is the Scheme a game-changer? It could bring a wave of buyers into the market, especially if interest rates ease in 2025. However, risks remain: - Buyers over-extending. - Illusions of affordability for higher-priced homes.

8/ The impact on first-home buyers so far: Since COVID, Gov’t programs have boosted: 📈 23.6% more first-home buyers in 5 years. 📈 41.1% higher average mortgage commitments in 5 years. The trade-off? Bigger FHB numbers → affordability pressures in the long term.

7/ What happens if your income increases? If you start earning above the threshold, you may need to repay part of the Gov’t’s share—either 5% or the full amount, depending on your situation.

6/ The catch? The Gov’t owns a share! If the home value rises, so does the Gov’t’s share (exceptions apply). Ex: - Buy at $500k, Gov’t owns 20%. - Value increases to $600k → Gov’t’s share increase from $100K to $120k. Renovations >$20k? The Gov’t share decreases slightly.

5/ Property price caps apply! 🏡 Here are a few examples: - Sydney: $950k - Brisbane: $700k - Melbourne: $850k - Perth/Adelaide/Hobart: $600K

4/ Who’s eligible? ✅ Australian citizens, 18+ ✅ Earn up to $90k (individuals) or $120k (joint). ✅ Property must be your principal residence. ✅ Can’t already own property (some exceptions apply). Full criteria: [treasury.gov.au/sites/defaul…]

3/ How does it work? - Buyers need a 2% deposit. - The Gov’t contributes up to 40% of the purchase price (new builds) or 30% (existing properties). - Buyers cover costs like stamp duty & legal fees. Ex: Buy a $500k home? You’d need min $10k deposit, Gov’t chips in up to $200k!

2/ What is the Help to Buy Scheme? A national shared equity program that allows eligible buyers to purchase their first home with a Federal Government equity contribution. Administered by Housing Australia, it targets 40,000 households over 4 years (10,000 annually).

Now available! Your go-to guide for Affordable and Liveable suburbs in Metro areas in 2024 is here!   Discover the top spots to live or invest with our latest insights. Explore the guide today: i.mtrbio.com/eosjivsier

Today the RBA has decided to keep the cash rate stable, at 4.35%. Although many households and mortgage holders might be disappointed, the RBA has taken this stance to ensure that inflation remains on a declining trend and does so in a sustainable manner. #Cashrate #RBA

Housing affordability has significantly worsened over the past five years. The national decline stands at 15%, with Sydney experiencing the most drop at 20.1%. QLD and SA have also seen decreases.  Find out more: i.mtr.cool/pwhgfmtgrf #housingmarket #economy #affordability

Across all the greater capital cities we are witnessing a market recovery, albeit at different speeds.  Gtr Brisbane grew by 17% in the past 12m outpacing Gtr Melbourne at 14.6% (to June '24). Our latest report: i.mtr.cool/rbbcoxnwaf

How does Australia's property market stack up globally? We've compared prices and affordability to other major economies.  Find out more in our latest report: i.mtr.cool/sewpxysrlu #property #globalmarket #Australia

While the national economic wheel turns steadily, the property market gears are spinning at difference speeds in different regions. Find out more in our latest report: i.mtr.cool/xgvmwnahhw #propertyreport #insights #realestate

In Q2 2024, Palm Beach's median house price reached $1,762,500 (up 11.6%), and units hit $945,000 (up 6.5%). Sales fell by 9.1% for houses and 2.9% for units, indicating a tight market and rising prices. 🌴See what’s happening in the Palm Beach: i.mtr.cool/zuvujuznhr