News

November 28, 2019

Sydney property prices could hit new highs ‘within six months’, says CoreLogic’s Tim Lawless

Three months of strong price gains have signalled the end of Sydney’s two-year property slump – and the news is about to get even better for homeowners, according to a leading real estate analyst.

There’s good news for Sydney homeowners, with predictions that record property prices could be in sight ‘within six months’.

Tim Lawless, head of research at property analysts CoreLogic, said that if the current pace of price growth continues, record new house values could...

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November 13, 2019

Sydney property market records fastest rebound in decades

Sydney’s property market has recorded its quickest turnaround in decades, with house prices rebounding almost $50,000 last quarter, new data shows.

Houses prices regained almost one-third of the value lost during the two-year downturn, Domain’s September House Price Report, released on Thursday shows, with the city’s median up 4.8 per cent to $1,079,491.

The rapid recovery — four times greater than the next strongest quarterly rebound of 1.2 per cent following the 1994 market low — has defied all price forecasts.

Domain senior research analyst Nicola Powell said the quicker-than-expected upswing could be attributed...

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October 31, 2019

'Bird's nest' sold: Unique Sydney buildings snapped up for $110m

Lendlease has garnered about $110 million in the sale of two unique Sydney buildings across its Barangaroo and Darling Harbour developments.

The distinctive Barangaroo House, leased to Matt Moran and Bruce Solomon's Solotel business at 35 Barangaroo Avenue on Barangaroo South’s waterfront was sold to a private investor for about $40 million. The lease will remain in place with the new owner.

The Exchange at Darling Square, called the "bird's nest" for its spiralling wood facade, and designed by the  Japanese architecture...

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October 17, 2019

'The next frontier': NSW government to transform Pyrmont into economic hub

Pyrmont will become Sydney's next "economic and jobs hub" according to the NSW government, under plans likely to smooth the path for high-rise development after a proposed Star casino tower was controversially opposed by government bureaucrats.

Premier Gladys Berejiklian said new planning controls to be developed by the government would see Pyrmont and the precinct west of Sydney Harbour become the "gateway to the CBD".

The government would also accelerate investigations into building a Metro station to support the area's growth, she...

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October 03, 2019

Lane Cove bounces back as buyers return to this family-friendly spot

When Sally Penfold returned to Sydney from a stint in Hong Kong with her husband Bruce Wymond 18 years ago, they set about finding a new home.

Originally from Melbourne, the city was new to Mr Wymond, an engineer and executive director/founding partner of international consultancy the Inhabit Group.

“So when it came to looking for a house he had a few conditions,” Ms Penfold, a health and wellness consultant, said.

“Nature and privacy were the non-negotiable draw cards, after returning from a...

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September 19, 2019

Sydney Fish Market

The Sydney Fish Market will establish a world-class “foodie” destination. The project seeks to set in place an exemplary example of integrating the public realm and contemporary market space that will become a landmark in Sydney’s unique harbour-based urban landscape. The new market will place people at the centre of the architectural response, with an emphasis on place-making to foster a strong sense of community at Blackwattle Bay.

  • Client:Urban Growth NSW
  • Location:Sydney, Australia
  • Size:80.000 m2
  • Collaborators:GXN, BVN, Aspect Studios, WallnerWeiss
  • Status:Completion 2023
  • Program:Market, Retail, Wholesale, F&B

 

Source:...

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September 05, 2019

‘Everything’s starting to sell really well’: Sydney’s auction market hits its stride

Sydney’s property market has gone from strength to strength with auction clearance rates hitting another high.

Almost 80 per cent of properties under the hammer sold at the weekend with clearance rates at 79.9 per cent – up from 74.1  per cent last weekend.

Domain property market research analyst Eliza Owen said steadily rising clearance rates revealed more proof of a strong recovery in Sydney’s real estate market.

She pointed to an increase in the number of properties sold before auction as a sign...

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July 25, 2019

House prices across Australia show signs of recovery, rise in three cities: new report

Australia’s property landscape is brightening, with new data confirming the fall in national prices is easing. 

House prices slipped just 0.4 per cent overall during the June quarter, after a drop of 2.2 per cent in the three months to June, while prices rose in three major cities.

Domain’s quarterly House Price Report, released on Thursday, reveals prices have experienced modest growth in Melbourne, Hobart and Canberra in recent months, and fell less sharply in almost every other capital. 

While the fall in the...

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July 11, 2019

Interest rates set to fall despite house prices going up

The Reserve Bank of Australia is poised to continue with interest rate cuts despite a turnaround in the pivotal Sydney and Melbourne property markets where dwelling values have increased for the first time since 2017.

On Tuesday, the RBA board meets in Darwin for the first time since June 1968, with markets expecting it to follow-up its June rate cut with another quarter percentage point reduction in the official cash rate. Such a move would take interest rates to a new...

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June 27, 2019

House prices across Australia to stabilise by year’s end: Domain report

Australian capital cities are expected to see property prices stabilise by the end of the year, with modest price growth predicted in 2020, new analysis shows.

Following a sluggish start to 2019 – with the financial services royal commission, a slowing economy, investor caution and election uncertainty subduing price growth – recent events are pointing to a change of mood in the latter half of this year, according to the Domain Property Price Forecasts released on Wednesday.

House price forecasts

  2019 (six-month...

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