According to home improvement site Porch.com, homeowners focused their efforts on the outdoors, with new gardens and lawns being the most popular projects.
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Day: <span>July 23, 2020</span>
Multifamily rents in the U.S. dropped by $2 in June to $1,457, following a four-month trend of declining rents, according to Yardi Matrix’s June 2020 National Multifamily Report. Since January, average multifamily rents have decreased by $12.
During Zillow’s virtual Unlock event, Svenja Gudell highlighted the historic instances that have led to a massive homeownership gap.
“The possibility of volatility lasting into 2021 could be a reality,” according to a 136-page report by HouseCanary released Wednesday.
The industry’s premier live digital event is back for only $49. Join us Aug. 4 for an action-packed, one-day, live digital experience built for this moment.
The stylish Los Angeles garden mansion, shrouded in trees and gated within a gated community, just hit the market for $6.8 million.
Meanwhile, existing-home sales in June rebounded 20.7 percent month over month, according to the National Association of Realtors.
Finder analysed house price falls across 227 suburbs in Queensland during the early months of COVID-19.
Fresh data has revealed the suburbs where house prices fell the most during COVID-19, and the biggest drop has come from the most surprising area.
Comparison firm Finder.com.au reviewed all suburbs in Queensland to track house price changes since January this year – in the process uncovering where “deals” could potentially be found.
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“Of the 227 suburbs that had more than 20 sales and a population of more than 1,000, 41 per cent saw a decline in price in April compared to January 2020,” according to the Finder analysis.
But the biggest surprise was the suburb that saw the highest fall in house prices during that period – Hawthorne – was located in the high demand Brisbane inner ring.
Hawthorne saw its house price go from $1,460,094 in January to $962,500 in April this year, it said, a massive 34 per cent fall.
Three suburbs saw prices fall by 23 per cent: Mooroobool in Cairns that went from $385,000 to $295,000; Rangeville in Toowoomba fell from $543,750 to $418,000; and popular Gold Coast suburb Broadbeach Waters saw its house price go from $1,221,500 to $943,750 in that period.
Finder insight manager Graham Cooke said the falls came at a time when interest rates were falling.
“The value of houses has and may continue to tip lower in many suburbs, and ready buyers are taking advantage,” he said.
“For those with a mortgage already, even though your home’s value may have dropped, unless you take action, the mortgage payment will not.”
Record low interest rates are spurring on buyers.
“As budgets are crunched, a historic number of people are refinancing and getting a better deal on their largest investment.”
“Record-low interest rates and a lack of investor spending can be a boon for savvy mortgage holders.”
While the results varied widely across the state, the average change across Queensland was a 1 per cent rise in price – also a pleasant surprise given the massive impact COVID-19 has had globally.
WHERE HOUSE PRICES FELL THE MOST (OFF COVID-19):
SUBURB JAN APR DROP
Hawthorne (Brisbane) $1,460,094 $962,500 -34%
Mooroobool (Cairns) $385,000 $295,000 -23%
Rangeville (Toowoomba) $543,750 $418,000 -23%
Broadbeach Waters (GC) $1,221,500 $943,750 -23%
Runaway Bay (Gold Coast) $1,050,000 $843,500 -20%
Coorparoo (Brisbane) $1,135,000 $915,000 -19%
Lowood (NW of Ipswich) $275,000 $222,500 -19%
Palmview (Sunshine Coast) $720,000 $583,950 -19%
Frenchville (Rockhampton) $350,000 $287,500 -18%
Atherton (Tablelands) $340,000 279,750 -18%
Source: CoreLogic, Finder
*Suburb metrics: Only includes suburbs with 3 month median sales price available.
Number of sales over the last 3 months needs to be over 20
Population of at least 1,000.
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The post Where house prices fell the most off COVID-19 appeared first on realestate.com.au.
With economies reopening nationwide, demand for home repair help and moving services are picking up steam, according to data from the online marketplace.
A SOVEREIGN Islands mega mansion has sold for $6.6 million, the highest sale on the exclusive island enclave this year.
A Gold Coast buyer splashed the cash, drawn to the 1682 sqm property at 91-93 The Sovereign Mile.
91-93 The Sovereign Mile, Sovereign Islands.
91-93 The Sovereign Mile, Sovereign Islands.
The house features several entertaining and living areas across four levels as well as a cinema, gym, resort-style pool and pontoon.
Isaac Kim and Ivy Wu of Ivy Realty Paradise Point handled the mega sale and said it would provide a boost of confidence to the property market.
“We had a lot of interest in this property during COVID-19,” Mr Kim said.
91-93 The Sovereign Mile, Sovereign Islands.
91-93 The Sovereign Mile, Sovereign Islands.
“It’s very good news for everyone who lives on the island.
“There is a pool of buyers ready to buy here but not enough stock.”
CoreLogic records show the property first hit the market 12 months ago with an $8.95 million price tag.
It follow the $5.5 million sale of 1-3 Knightsbridge Pde East through Ray White Sovereign Islands earlier this month.
The post Record $6.6 million sale for Gold Coast mega mansion appeared first on realestate.com.au.