Welcome to the first (funny) episode of Market Watch from The Property Frontline. In this episode, Debra Beck-Mewing (Chief Buyers Agent at The Property Frontline) is joined by Scott Hochgesang (Property Consultant at Bespoke Property) to analyse the latest Australian property market performance data.
Debra and Scott compared the difference in the sales performance charts from PropTrack, CoreLogic and SQM Research and found a significant variance between the three major research companies.
See below for comparative stats on pricing for houses in Sydney, and check out the podcast for stats on Australia-wide locations.
The wide variance in the stats highlights the importance of (1) ensuring you understand what each data table is using as their collection criteria and (2) ensuring you check and compare any performance data you’re using to make property decisions.
Where is the market heading?
As noted in the episode, sales performance data is an indicator of what has occurred in the past and isn’t a predictor of where properties will be heading in the future.
To obtain insights into where prices are heading, Debra and Scott looked at a range of market influences and, in particular, the recent changes to the NSW planning legislation.
In June, the NSW State Government introduced a range of planning changes with a view to delivering an extra 377,000 dwellings in the next five years.
The changes will mean more property owners will be able to build duplexes and terraces on their existing properties, and in some cases will be able to build multi storey structures where currently only one property exists.
Debra and Scott discuss the implications of this change for people who own property that has been re-zoned, and what to do if you’re considering purchasing a property in NSW in the next few months.
Click here to take a listen. We would love to hear your feedback and also any questions you would like covered during the session.
About the author
Debra Beck-Mewing is the Editor of the Property Portfolio Magazine and CEO of The Property Frontline. She has more than 20 years’ experience in buying property Australia-wide and has extensive experience in helping buyers use a range of strategies including renovating, granny flats, sub-division and development. Debra is a skilled property strategist, and a master in identifying tailored opportunities, homes and sourcing properties that have multiple uses. She is a Qualified Property Investment Advisor, licensed real estate agent and also holds a Bachelor of Commerce and Master of Business. As a passionate advocate for increasing transparency in the property and wealth industries, Debra is a popular speaker on these topics. She is also an author, podcast host, and participates on numerous committees including the Property Owners’ Association.
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Disclaimer – This information is of a general nature only and does not constitute professional advice. We strongly recommend you seek your own professional advice in relation to your particular circumstances.
