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INVESTORS hoping to nab their slice of Port Douglas paradise are urged to make their move, with real estate agents warning time is fast running out to snatch up limited remaining blocks of land.
Raine and Horne Port Douglas and Mossman licensee Travis Schumacher said it was becoming reasonably difficult to find a block for sale to buy or to build on in one of the Far North’s playgrounds for the rich and famous, and prices are primed to rocket skywards in the near future as land supply dwindled further.
Now is the time to dust off the marketing guff for hard to sell Sydney properties as listings fall in hard to buy areas and the time on market for small apartments declines.
Agents claim a fall of nearly 10 per cent in the amount of listings in some areas around Sydney when compared to the same period last year means the properties that are normally hard to shift in a soft market are now selling twice as fast.
Raine & Horne Summer Hill principal Gabriela Rodriguez said properties that previously took three months to sell last year are now being snapped up.
From the shared rooftop of 5 Campbell Parade Bondi there is a multi-million dollar view of the world famous beach. At this prime vantage point you are also able to look down on billionaire James Packer’s beachside pad and see construction work on The Pacific both also on Campbell Pde, which has seen sales of up to $20 million for its best penthouses.
But for the lucky owners of a studio apartment, with parking and access to the large rooftop, who bought in the building last month the cost has been much lower — $505,000.
Thursday 16th October, 2014
Darwin motors on yet Raine & Horne calls for caution
The latest statistics from RPData show that Darwin real estate values grew by more than 7% in the last 12 months.
The result left the Northern Territory capital behind Sydney and Melbourne only in terms of capital growth since September 2013, and in front of Brisbane, Perth, Hobart and Adelaide.[i]
Australian property buyers have until next June to find a competitive home loan ahead of a predicted rise in the cash rate by June 2015, which may continue for a further three years.
A survey of 28 experts, due to be released tomorrow, found 46 per cent believed an increased in interest rates would be handed down by the Reserve Bank in quarter three of 2015, a 21 per cent chance rates would rise in the first quarter of 2015, and an 18 per cent chance rates would rise in the second quarter of 2015.