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The pandemic has changed the population distribution map

19/12/2022

The epidemic has changed the population distribution map, and the annual transaction volume of these units in the suburbs of Australia is the hottest

New data has been released on the most popular suburbs for property transactions over the past year, with more people moving to outer suburbs that offer more space, such as the seaside or rural forests. The inner-city unit market is also hot, with first-home buyers taking advantage of the economic downturn caused by the pandemic to buy from investors needing cash. Despite the high volume of real estate transactions in the larger suburbs, this new list of statistics underscores the shift in lifestyles caused by COVID; buyers taking advantage of low interest rates and looking for bigger homes further out of the city so they can telecommute.

The unit market in Surfers Paradise had the largest number of property transactions in the year to June at 2325, the latest Domain House Price Report found.

Unit sales in nearby Southport (984) and Broadbeach (859) were also strong.

Ray White Surfers Paradise CEO Andrew Bell (Andrew Bell) said: “Some people who have vacation apartments choose to sell. These people who run restaurants and other industries are a little bit financially stressed due to the epidemic. Many properties used to be used as Airbnb and so on. profit”.

“But that’s as many people as ‘wanting to buy something during lockdown’.”He said there was still a shortage of properties for sale as many buyers continued to move from the southern states to the Gold Coast and there was still a shortage of properties for sale as demand hit higher each time there was a lockdown.

Some people have moved completely, while others want a place to vacation if they can’t travel abroad. Larger units closer to the beach are popular and prices are rising, he said, adding new buyers when friends and relatives buy.

Port Macquarie on the NSW mid north coast recorded one of the highest turnovers in the country with 1026 sales for the year.

This is HEM Property Port Macquarie’s busiest Naomi Hunter ever, and it continues to receive inquiries from people and city dwellers planning to work from home amid the pandemic.

“I’ve been in real estate for 10 years and I’ve never seen anything like it, a shortage of housing. We can’t satisfy the number of buyers we have.”

In the past six months, the brokerage has had two deals over $2 million as southern buyers want family homes with water views.

With an aging population, owners are selling to move into retirement villages or to be closer to family, but the market remains in short supply regardless of price point, she said.

Orange has been another draw for Sydneysiders, with 998 transactions for the year.

The outer suburbs of major cities have been shifting, and while larger suburbs typically see higher sales, the picture is compounded by remote workers looking for more space and home offices.
In Melbourne, Point Cook in the west (1154), Craigieburn in the north (1088) and Pakenham in the southeast (1025) all recorded significant sales. These relatively affordable growth corridors are also home to high levels of new construction.
Ray Hard, partner at Barry Plant Point Cook, said: “Demand is very strong and it comes down to low interest rates. Instead of renting, people are coming into the market to buy their first home. There are a lot of people upgrading existing homes that are Because they work from home.”

The majority of buyers in Rayhard are locals taking the opportunity to upgrade, but there is also interest from other west or inner west folks looking for bigger homes, parks, amenities and schools.

The Melbourne CBD unit market saw an annual turnover of 1210, but the median price fell 1.4 per cent year-on-year to $542,500.

While international borders have been closed, the shortage of international students and Airbnb guests is prompting some investors to think twice before entering the market, with first home buyers jumping in.

“Maybe the properties that are being sold, the owners are desperate because of COVID and the lockdown, they’re not getting a rental return,” said Daniel Kon of First National Avant.

“The majority of buyers looking there at the moment are first home buyers looking to take advantage of the first home buyer grant and free stamp duty below $600,000.”
He said first-home buyers could find more affordable options in the CBD than in the suburbs, with two-bedroom apartments below $500,000 doing well, and the outlook for price growth was less predictable.

As for investors? “They’ve completely stopped, they’re holding back and just looking at the market first,” he said.

The largest contributors to the annual inflation increase through February were housing (up 9.9 per cent), food (up 8 per cent), transport (up 5.6 per cent) and entertainment and culture (up 6.4 per cent), the report showed.

Australian Bureau of Statistics chief executive Michelle Marquardt noted the annual increase in the housing sector was lower than in January (10.4 per cent).

Michelle Marquardt said: “In the 12 months to February, new dwellings rose by 13.0%, the slowest annual growth since February 2022, as building material price increases continued to slow. rose, maintaining the 4.8% annual gain recorded in January.”

Australia’s S&P/ASX 200 narrowed losses after the data, before turning higher.

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