Investors defy tougher lending conditions to bid in hot market
Share
Property speculators trying to secure Perth real estate while still in quarantine highlights the growing demand from investors attracted by capital growth and strong rental gains.
Karen Firth, a real estate agent for Bourkes in South Perth, where property prices are among the nation’s fastest rising, says buyers from interstate and overseas, who are in quarantine in the city, are requesting brochures and inspecting properties online before bidding.
Agents say investors are surging back to the local market despite higher borrowing rates and tougher lending conditions than for owner-occupiers.
NRL star Latrell Mitchell has bought his parents their dream home after signing a massive contract extension.
The South Sydney Rabbitohs fullback won an auction for a six-bedroom, 19-hectare property in his hometown of Taree on the NSW mid-north coast. Today I bought my parents Matt and Patricia their dream home! Mitchell posted to Instagram on Saturday.
The 23-year-old paid $1.815million for the house, $61,000 over the reserve of $1.75million.
The 23-year-old paid $1.815million for the house, $61,000 over the reserve of $1.75million
Rugby League star Latrell Mitchell has shared his joy on social media after buying his parents their dream home
Surf s up: Fun for everyone at Tiaho Trust s annual surf day
15 Feb, 2021 04:00 PM
2 minutes to read
Charlize Casey, 10, from Ruakākā surfs in on a wave. Photo / Michael Cunningham
Northern Advocate
By: Toby Allen
Perfect weather, perfect waves and big smiles lit up the 8th annual Ruakākā Beach surf day for people with disabilities.
Organised by the Tiaho Trust, it attracted 30 surfers and chief executive Jonny Wilkinson said the event was well supported by local businesses and volunteers.
Raven Casey, 9, from Ruakākā has fun in the surf. Photo / Michael Cunningham It s always a great feeling to catch a wave, everyone had a big smile on their face, he said.
Premium Content
Subscriber only
A BLOCK of land at Yamanto set to offer both residential and commercial lots could soon entice hundreds more to the booming Ipswich growth corridor.
Under its current development approval, the 1.2-acre site at 10 Leonard St will likely result in the construction of ten townhouses and two commercial properties.
While versatility proves an obvious drawcard, the asking price of $695,000 is expected to have eager developers quick to snap up the site.
Ray White Special Projects salesman Andrew Burke said it was rare to have a block with combined lots hit the market for less than $1 million.
In the last three years, residential property prices in the region have ballooned 51.4 percent - from $518,000 in 2017 to $785,000.
An avid follower of the website homes.co.nz, Edward was horrified to learn it was a simple matter for agents to bump up the estimated value of a property by uploading their own appraisals. And quite often it goes way above the market rate for that area.
In a blog post, which dropped off the website when it was re-platformed, marketing manager Fiona D Silva Moiyadi, gives step-by-step instructions for modifying HomesEstimates.
Buyers expected estimates on third-party websites to be impartial, and letting people with a vested interest influence them was distorting the market, Edward said.