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Last Week In Review 2

Last Week In Review 2

Last week we saw the prices of property continue to rise with the regional areas snatching up most of the headlines. Regional housing has seen prices more than double that of the capital cities over the last 12 months. Prices in the country have risen 13% compared to the cities 6.4% gain.

Regional Queensland is trying to lure workers into the area through a $7.5m plan from the state government. Regional NSW, particularly in the Northern Rivers region, is seeing a housing crisis that many are blaming investors and developers for.

Auction clearance rates continue to be high for NSW (90%) and Victoria (86%). While Queensland continues its healthy rate at 73%.

Want to switch home loans? Here are ASIC’s top tips for refinancing – It’s Simple Finance

These tips include:

  • Seeing if your current lender can cut you a better deal
  • Don’t jump at the easy money: do the maths
  • Consider switching to an offset account or redraw facility option
  • To fix the rate or not? Or both?

Open home checklist – What potential buyers should look for when inspecting a property – ABC News

Property buyers rarely have more than 30 minutes to inspect a property so knowing what to look for is helpful. Real estate agent, Jamal Naouri says the first to look for is the property’s layout and renovation potential. Ask questions like ‘Are the bathrooms renovated?’ Test taps to check the water pressure and see if there are any plumbing issues. Look for significant interior and exterior cracks.

Regional housing market remains red hot, with prices more than doubling capital city gains – news.com.au

Australia’s regional housing market value has outpaced the price growth across capital cities in the last 12 months. Values out in the country have doubled. CoreLogic quarterly data shows country areas residential properties increased 13% compared to 6.4% in capital cities. Richmond-Tweed in NSW was the region that had the most gains across houses and units. This region is home to Byron Bay.

The Queensland government announces $7.5m plan to lure workers to regional tourism jobs – ABC News

From July 1, job seekers would be offered a $1,500 incentive to relocate, as well as $250 in travel vouchers in the year-long ‘Work in Paradise’ campaign. This comes as a result of the industry attempting to rebuild itself after the COVID pandemic.

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