A major player in correspondent lending and mortgage servicing, Pennymac is looking to provide more loans directly to consumers through a strategic partnership and investment in mortgage loan origination software provider Vesta.
Billy Walters of the Broncos in action during the round 27 NRL match between Brisbane Broncos and Melbourne Storm at Suncorp Stadium. Picture: Bradley Kanaris/Getty Images.
Brisbane Broncos playmaker Billy Walters is celebrating a major win well before Sunday’s kick-off against number 1 ranked Raiders, with a huge $511k payout.
As Walters chases finals glory on the field, his property game is already proving a premiership-winning strategy off it, cashing in on Brisbane’s red-hot housing boom with a 76 per cent gain on the first home he bought with wife Rachel.
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Billy Walters in Broncos team training at their Red Hill headquarters. Picture: Adam Head
The 31-year-old son of Kangaroos coach Kevin Walters, who had an absolute scorcher of a game against the Storm after stepping up at five-eighth with Ezra Mam sidelined, has just pocketed a tidy $511,500 rise.
The couple had paid $671,000 for their three-bedroom, two-bathroom property in 2021, selling for $1,182,500 on August 27, going above the $1.13m valuation it was tipped at.
The move marks almost a double-up in just four years, proof the NRL star’s off-field investments are paying off as much as his on-field form.
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Broncos player Billy Walters, his son Hugo and wife Rachel in an image taken at their home. Picture: David Kelly
The Chermside West property is in a hotspot with analysts believing the new owner can soon go as high as $1.32m given tight market conditions.
The home was marketed by Tristan Rowland and Nick Cusick of Stone Real Estate Aspley as having “Big Deck Energy”, drawing strong buyer interest thanks to its large entertainment deck, leafy 602sq m block and prime location just minutes from Westfield Chermside.
Walters still has two other Queensland properties in his portfolio, one at Redbank Plains rented for $440 a week and another in Toowoomba returning $450 a week.
The post NRL Brisbane Broncos star Billy Walters’ huge $511k payout appeared first on realestate.com.au.
This Thomastown house sold at auction last month for $850,000 in the only suburb across the city to lock in a 100 per cent clearance rate for August.
A Melbourne suburb that’s home to gangland shootings and a Hells Angels clubhouse has emerged as a surprise bulletproof auction market heading into spring.
PropTrack data shows every single one of the 22 homes to go under the hammer in Thomastown across August was sold amid a shift in the city’s top spots for the sales method.
Six of the city’s 10 highest suburban clearance rates last month were also in the north, with Lalor, Craigieburn, Bundoora, South Morang and Epping all topping 85 per cent clearance rates.
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Other sales success-story suburbs were Blackburn, Mulgrave and Rowville, which all topped 90 per cent sales margins as Melbourne dominated the list of Aussie suburbs on track for the best auction results this spring.
The city accounted for 13 of the top 15 clearance rates nationwide last month.
PropTrack economics executive manager Angus Moore said while at a suburban level auction results could vary, to get 100 per cent of 22 sold was “pretty solid”.
A Blackburn South house sold for $1.81m at auction last month.
A considerably more affordable Epping home sold for $813,000.
“Melbourne is doing relatively well with clearance rates fairly firm through winter into spring,” Mr Moore said.
He said home sellers seeing strong results in their area should certainly be discussing auctions with their agent this spring, though noted individual circumstances would vary.
The economist added that rising demand for affordable homes could potentially explain why the city’s north was outpacing more expensive areas in the leafy east that have traditionally been considered the city’s auction heartland.
A South Morang house sold for $1.069m at auction last month. The suburb was one of Melbourne’s most successful for homes going under the hammer.
Mulgrave was Melbourne’s third most successful auction market in August, with this home sold for $945,500 among the 20 to snare a sale.
Real Estate Institute of Victoria interim chief executive Jacob Caine said strong results could be being driven by rising confidence in areas that had once been considered unsuitable for auctions, combined with a growing buyer appreciation for the transparency it offers.
“When you see great results, the appreciation and faith in the method can spread like wildfire,” Mr Caine said.
“And even though Thomastown has dealt with some challenges to its reputation in recent years, it still offers a vibrant community and some great opportunities.
“You can eat cuisines from across the world and it still offers a really attractive and affordable entry point to the market.”
This Bundoora house sold for $833,000 under auction conditions.
Rowville had a strong run of auction sales in August, with this three-bedroom sold for $838,000 among those to attract bidding.
The suburb’s $730,000 median house price has risen 2.8 per cent in the past year, according to latest PropTrack data.
Last year it hosted 33 auctions, but only achieved a 65 per cent clearance rate in August.
Earlier in the year Sam “The Punisher” Abdulrahim was shot at while at home in the suburb, though he was later killed in Preston.
A Hells Angels’ Nomads offshoot clubhouse has been in the suburb’s industrial precinct since at least the 90s.
MELBOURNE’S TOP SELLER SUBURBS IN AUGUST
| Suburb | Clearance rate August 2025 | Auction numbers August 2025 | Clearance rate August 2024 | Auction numbers August 2024 |
| Thomastown | 100% | 22 | 64% | 33 |
| Blackburn North | 94% | 17 | 75% | 16 |
| Mulgrave | 91% | 22 | 80% | 25 |
| Rowville | 91% | 33 | 52% | 23 |
| Lalor | 89% | 28 | 60% | 25 |
| Craigieburn | 89% | 70 | 63% | 80 |
| Bundoora | 88% | 33 | 72% | 29 |
| Blackburn South | 88% | 32 | 82% | 17 |
| South Morang | 88% | 24 | 68% | 34 |
| Epping | 85% | 41 | 65% | 37 |
Source: PropTrack
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The post Melbourne property 2025: top auction suburbs this spring appeared first on realestate.com.au.
No.454 Elizabeth St, North Hobart. Picture: Supplied
Arcadie has been a family’s home for many decades, but the time has come for a change.
This superb example of Arts and Crafts architecture was purchased by the current family in 1971 and is described by Elders Tasmania agent Abi Freeman as a “truly special property”.
Mrs Freeman said it is rich in architectural history, and brimming with period features that have been lovingly maintained.
“The property is immaculately presented, highlighting its heritage features throughout,” she said.
“The traditionalist will fall in love with the property’s Federation design, timber panelling, high ceilings, ornate fireplaces, leadlight windows, and picture rails to name a few.”
The property’s position is enviable.
It is a two-minute drive from North Hobart’s State Cinema, shops and restaurants. And less than 10 minutes drive into the heart of the city or the waterfront precinct.
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Luxe Fern Tree home nestled in 327-acre retreat
No.454 Elizabeth St, North Hobart.
No.454 Elizabeth St, North Hobart.
No.454 Elizabeth St, North Hobart.
And while many inner-city properties in North Hobart and surrounding areas feature small to medium-sized blocks of land, Arcadie is the opposite.
“Over 3000sq m of land, positioned in such a central location, is a very rare offering — there are few properties of this nature left, not just in Hobart but any capital city in the country,” Mrs Freeman said.
“More than just a large block and beautiful gardens, it also has a separate right of carriageway starting at Elizabeth St, allowing direct access to the rear of the property.”
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Arcadie dates back to 1924 and was designed by esteemed Hobart architect Bernard Walker.
Exemplifying Walker’s signature Federation style with Arts and Crafts influences, the residence showcases timeless design, superior craftsmanship and the enduring use of fine local materials throughout the sandstone and red brick construction.
No.454 Elizabeth St, North Hobart.
No.454 Elizabeth St, North Hobart.
Lovingly held by the same family for over 50 years — and most recently by Walker’s own son and daughter-in-law — Arcadie has been carefully preserved, with exquisite original features retained throughout.
Entry into the historic home is via a grand entry foyer, accessed from the front veranda.
This fabulous space immediately sets a tone of elegance that is carried throughout the home’s two expansive levels.
The ground floor is dedicated to refined living and entertaining, offering a series of gracious reception rooms, including a generously proportioned living room, a formal dining room, a charming sitting room, a sunroom bathed in natural light, and the family kitchen.
Practicality is also well considered, with laundry facilities, a storage room, and a bathroom completing this level.
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Heritage Hobart building with restaurant, apartments for sale
No.454 Elizabeth St, North Hobart.
No.454 Elizabeth St, North Hobart.
The staircase ascends to the upper level, where a grand primary bedroom suite is a private retreat with direct access to a sunroom with water views and an adjoining study or nursery.
There are three more well-proportioned bedrooms and a central family bathroom on this level, ensuring ample accommodation for family and guests.
Alongside the home’s period flourishes, modern enhancements include an electric fireplace in the dining room and central heating ensure year-round comfort.
The established grounds are enchanting, with a canopy of mature fruit trees, lawns proven to host many a backyard cricket match, and a gazebo providing a picturesque setting for outdoor entertaining.
A garage, garden shed and workshop further enhance the property’s amenity.
No.454 Elizabeth St, North Hobart.
No.454 Elizabeth St, North Hobart.
With flexible urban mixed-use zoning, the property presents as a substantial family home of rare pedigree, while also affording scope for a range of alternative commercial uses, subdivision, or development, subject to Council approval.
Whether treasured as a generational residence or reimagined for new possibilities, Arcadie stands as one of Hobart’s most notable heritage residences taken to market, in this sought-after location, for quite some time.
Positioned just moments from The Friends’ School and other excellent schools, Hill Street Grocer, the vibrant North Hobart cafe and dining strip, this coveted address promises an unrivalled lifestyle of convenience and charm.
No.454 Elizabeth St, North Hobart.
No.454 Elizabeth St, North Hobart.
Mrs Freeman said the property provides a rare opportunity to acquire a substantial holding and become the next custodian of Arcadie, carrying forward its rich heritage and cherished memories.
“It is a property that will appeal to a range of high-end buyers, from architectural and heritage home lovers, through to families looking to move into a premium residence,” she said.
“Arcadie offers something very special, a chance to own a piece of Hobart’s history combined with an extraordinary parcel of land.
“Opportunities like this don’t come around often, which is why this North Hobart gem is attracting attention as an heirloom property.”
Elders Commercial agent George Burbury said the property’s flexible Urban Mixed Use zoning offers scope for boutique consulting rooms, office or medical accommodation (STCA).
“The substantial 3280sq m allotment presents a compelling opportunity for medium-density residential development just a short drive from Hobart’s CBD,” he said.
“Positioned just 400m from the North Hobart restaurant strip, this site is ideally located to capitalise on the vibrancy of the city fringe commercial precinct.”
No.454 Elizabeth St, North Hobart is listed with Elders Tasmania at “Offers over $2.45m”.
The post Rare heritage home hits market for first time in 50 years appeared first on realestate.com.au.
The total value of the housing market has soared in the months since rates were first cut.
Australia’s housing market has become worth five times the annual output of the economy after total property values soared $213 billion in the months following the first interest rate cut this year.
ABS Figures released Tuesday showed the total value of the country’s residential dwellings rose to $11.6 trillion in the June quarter, up from $11.35 trillion in March.
Australia’s nominal GDP is estimated to reach about A$2.58 trillion to $2.7 trillion over 2025, according to current projections.
It comes as property experts reveal housing demand has soared across many regions of the country since the Reserve Bank announced the first of three interest rate cuts this year in February.
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This has driven strong price increases, especially in medium-sized cities such as Brisbane, Adelaide and Perth, where dwelling prices are close to 10 per cent higher than a year ago, PropTrack data showed.
Sydney growth has been more measured at 3.66 per cent, while Melbourne home values were up an average of 2.1 per cent compared to August 2024.
The amount of wealth now locked up in the housing market dwarfs the value of some of the country’s biggest companies.
The $11.6 trillion total value of residential dwellings was higher than the combined market capitalisation of the top 50 companies listed on the ASX, including companies such as CBA, BHP and NAB.
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The total value of Aussie residential dwellings exceeds the market cap of our big four banks.
It’s a marked shift from five years ago when the combined value of residential dwellings across the country was $7.25 trillion, according to the ABS.
ABS head of finance statistics Dr Mish Tan said home values were rising across the country.
“June quarter’s growth in the value of dwellings followed a 0.3 per cent rise in the March quarter, with rises across all states and territories,” she said.
Dr Tan added that the total value of dwellings was 5.1 per cent higher than a year ago.
ABS lending data released in August revealed much of the increased spending in the housing market was coming from investors.
The number of new loans being issued to investors rose 3.5 per cent over the June quarter, while new owner occupier loans rose by just under 1 per cent.
Dr Tan described lending activity as being at “relatively high levels”.
Mortgage Choice broker James Algar said buyer demand was expected to increase substantially once the federal government expands its Home Guarantee Scheme in October.
The scheme allows eligible first-home buyers to purchase properties with 5 per cent deposits and avoid paying pricey lender’s mortgage insurance.
The October changes will remove previous salary limits for the scheme and expand the previous price caps.
The post Record-breaking surge pushes Australian housing market value to $11.6 trillion appeared first on realestate.com.au.
Bernadette and Jordan Sukkar at the Gold Dinner 2025 held at Government House in June. Picture: Jonathan Ng
Buildcorp exec Jordan Sukkar and his pilates queen wife, Bernadette, have listed their Double Bay home for spring sale and it comes with a feature that’s bound to win over a buyer.
The property is listed with Raine and Horne Double Bay gun Alex Lyons, who’s predicting a “spring boom”.
The Sukkars, who wed last November in a celeb-packed ceremony with guests including Jasmine and Karl Stefanovic and Merivale owner Justin Hemmes and his partner Madeline Holtznagel, are planning to upsize from the Manning Rd residence bought for $5m in 2021.
They look to have done nothing much to it, except obtain development approval for a remarkable million-dollar transformation into a designer dream home with double-height ceilings.
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64 Manning Rd, Double Bay is perfectly liveable as it is …
… but it comes with approved plans for a million-dollar transformation that would make it a $10m-plus residence.
The four-bedroom, two-bathroom residence with double garage has a guide of $5.25m for a September 23 auction.
“The house is perfectly liveable as it is, but they’d planned to open it up a bit to create more space,” Lyons said.
“I think if the buyer proceeds with those plans, once it’s finished the house would be in the double digits, $10m-plus.”
The house has been on the market for just 12 days, but Lyons is already fielding inquiries from owner occupiers, investors and flippers.
“That part of Double Bay has a lot of potential,” Lyons said.
“Once Double Bay is finished, in terms of office buildings and restaurants, that pocket will see a lot of capital growth.”
Jordan Sukkar is the chief operating officer of Buildcorp while Bernadette Sukkar, nee Fahey, owns Bondi’s popular Body by Berner pilates studio.
Bernadette Sukkar, nee Fahey, owns Bondi’s popular Body by Berner pilates studio.
Jordan is from one of Sydney’s wealthiest families — his parents, Josephine and Tony, founded the $500m construction business in 1990.
Says Lyons: “They’ve had the big wedding, they love it there, but they’re looking for a bit more space as they grow the family.”
He thinks that Sydney is headed for a “spring boom”.
“The market’s the best I’ve seen it since the post-Covid boom,” Lyons said.
“Our Saturday opens have been the busiest since then.
“It’s still very price sensitive, but there are a lot more people out there making decisions and it seems like a bit of a spring boom.”
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The post Pilates queen and Buildcorp hubby list Double Bay love nest appeared first on realestate.com.au.
Whether you have a garden, courtyard or balcony, these weekend projects can help you make the most of your outdoor space.
Usually, spring is when homes open back up. Longer days are on the way, and barbecue-ready evenings set the scene for reconnecting with neighbours, friends and family.
The good news? You don’t need a big budget or professional help to make a big impact.
Why spring is the perfect time for a refresh
After winter, as the weather warms, it’s only natural to gravitate outdoors. Freshening up your space now means you’ll spend more time there – and you’ll find it easier to host friends and family.
Here are five projects you can tackle in a weekend to give your backyard or balcony a lift.
1. Build a firepit area
Firepits aren’t just for cold weather – they add ambience year-round and can make evenings outdoors last longer.
Create a simple firepit zone using fire-safe pebbles or pavers from hardware stores such as Bunnings.
Add a store-bought firepit, then surround it with folding timber chairs from IKEA or other retailers for easy storage.
2. Liven up your outdoor dining zone
You don’t need a major overhaul to make your outdoor dining area more inviting. Even small tweaks can have a big impact.
Move your table to a sunny spot, sand and reoil timber surfaces, and finish the look with a decorative table runner or cushions from Kmart or Target.
3. DIY vertical garden
A vertical garden is a smart way to add greenery in a small space while freeing up floor area.
Start with a garden trellis panel from a hardware store, then attach pots for herbs like basil, parsley and mint – ready to pluck for the kitchen.
4. Install instant shade
With Australian UV levels soaring in spring and summer, shade is a must.
Try a ready-to-hang shade sail for patios or invest in a freestanding umbrella for portable flexibility. Adding shade now will make your space safer and more comfortable through the hotter months.
5. Refresh your outdoor flooring
Reviving your flooring can transform the feel of an outdoor area.
Pressure-wash pavers or reoil decks before the summer heat sets in. For covered areas, consider an outdoor rug to add instant warmth and texture.
The post Five easy weekend projects to refresh your outdoor space this spring appeared first on realestate.com.au.
Macquarie Rise Urban Village artist impression. Images: Supplied
The last apartments in a $400m development in Sydney’s northwest known as Macquarie Rise have been released following the sale of 125 units within the complex over the past two years.
Mixed-use development Macquarise Rise was launched in late 2023 by developer Toga and includes multiple buildings.
The final building known as Saunders Rise will comprise one-, two- and three-bedrom units with green outlooks. There will also be eight exclusive luxury penthouse apartments.
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Macquarie Rise Exterior Precinct
Toga managing director Allan Vidor said there was strong ongoing buyer interest in the project.
“We have long been advocates of Macquarie Park,” he said, noting that Toga will have built 1,000 apartments in the area once Macquarie Rise is complete. Mr Vidor said it was “a thriving precinct”.
The development has attracted a diverse range of buyers, including first-home buyers, investors and downsizers. The largest buyer group, owner-occupiers, accounted for 65 per cent of purchasers.
Macquarie Rise kitchen dark scheme
The development is nearby Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro.
Residents will also have access to Club Rise, an exclusive, residents-only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and breakout areas, a pilates studio, gym, and karaoke room. The development will also feature a 20m lap pool.
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Kitchen light scheme
General manager of sales Anthony Falas said they were expecting the latest apartments release to be popular.
“With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”
Located at 122 Herring Rd, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400m and is expected to be completed early 2027.
A total of 268 apartments are at Macquarie Rise development with 94 of these as part of the release for Saunders Rise.
Living and MPR Study
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The post Unveiling of last building in $400m Macquarie Rise development appeared first on realestate.com.au.
A grand bluestone villa that was once home to Vice Admiral William Rooke Creswell – known as the founding father of the Royal Australian Navy – has hit the market.
The upcoming auction of 429 Military Road, Largs Bay, has prompted a barrage of interest from history buffs, as well as serious buyers seeking a beachside family home.
Sir Creswell was just 13 years old when he started his naval career with Britain’s Royal Navy in 1865.
He migrated to Australia in 1879 and held various high-ranking defence positions within the various colonies, including First Lieutenant on the South Australian vessel, HMCS Protector.
In 1896, Sir Creswell and his family moved into their Largs Bay home, which became a base for discussions surrounding the establishment of an Australian naval force and hosted various defence dignitaries, said selling agent Liz Miles, of Pilgrim RE.
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The Largs Bay property at 429 Military Rd is steeped in SA’s history.
It was home to William Rooke Creswell, who is known as the founding father of the Royal Australian Navy.
It was also where discussions surrounding the establishment of an Australian naval force were held.
“I’m not exactly sure what they would discuss but they would hold meetings in the drawing room (now a bedroom) and they probably signed a lot of important papers,’’ Ms Miles said.
“I would have loved to have been there back in the day – those walls would hold a lot of stories. There’s a lot of naval history there.’’
Sir Creswell was later appointed the first Naval Officer Commanding the Commonwealth Naval Forces and, after the creation of the Royal Australian Navy in 1911, became its first Rear Admiral.
The RAN’s readiness for service at the start of the First World War is largely attributed to Sir Creswell’s lobbying and hard work.
After a period of ill health, Sir Creswell died in Armadale in 1933.
As well as its role in naval history, the Largs Bay home, known as Creswell House, was one of the earliest residences in the local district.
Built in 1882 – the same year as the Largs Pier Hotel – the home still boasts many original features, including ornate ceilings, a marble fireplace and a servant bell pull.
Ms Miles said historic French glass doors, which display the words “Liberal Club Building’’, were installed during renovations by a previous owner but she was unsure of their origins.
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It’s now a modern character home with four bedrooms and two bathrooms.
It’s attracting a lot of attention in the lead up to its auction.
The auction will be held on September 20.
Adelaide’s Liberal Club Building was constructed in the CBD in 1925 but only its facade remains, alongside the Myer Centre on North Terrace.
The home, just 200m from the beach, also has a cellar with a viewing panel in the ceiling to allow underwater views of the property’s in-ground pool, Ms Miles said.
“There was a guy that actually came to the inspection on the weekend (who used to live at the home) and said, ‘That (viewing panel) was built for me’ – he was a swimmer and his dad had made that (panel) so they could see his swimming in action,’’ she said.
Ms Miles said the home had a unique charm.
“There’s so many attributes to this property and it’s appealing to a lot of buyers,’’ she said.
“It’s a really grand property in a great location.’’
Creswell House, which has been listed without a price guide, will be auctioned on Saturday, September 20, unless sold prior.
– by Lauren Ahwan
It’s within walking distance of the beach.
The post Historic Largs Bay home with links to the Royal Australian Navy to be auctioned appeared first on realestate.com.au.
Australia’s real estate market is bracing for some big changes, and emerging conditions have potential sellers closely watching.
When’s the best time to sell is always the big question for those considering putting a property on the market.
Right now, there are several indicators in Australian markets that might suggest the time has come for sellers on the east coast to start gearing up.
In late July, Victoria’s auction clearance rates soared to an impressive 70%, signalling a significant resurgence in the Melbourne market after several years of subdued activity.
This positive trend is mirrored beyond Victoria, with New South Wales and Queensland also witnessing robust clearance rates.
The benchmark could be one indicator that a seller’s market is emerging in Australia’s southeastern states, with stronger demand and the potential for rising prices.
Price growth projections
High auction rates tend to lead to more competition and higher prices, which could suggest promising times ahead for sellers, according to Michelle Ciesielski, Head of Residential Research at McGrath Estate Agents.
“That 70% clearance rate mark is always a good indicator to suggest that we’re now in a seller’s market,” she shares.
“We’re moving into a period where selling is likely to become a much more appealing aspect for people who have previously been putting it off.”
Exclusive McGrath research has forecast higher prices ahead in all major Eastern cities starting from this year.
Melbourne is expected to see prices rebound, with a projected 1% growth in 2025 and a robust 4% by 2026, she explains.
“Certainly, Melbourne is in a much better position for sellers than it was last year and these lead indicators are showing that there’s appetite there from buyers—including property investors who are coming back into the market,” Ms Ciesielski says.
Greater Sydney is also on a solid growth trajectory, with a forecast 4% in 2025 and 6% in the following year.
Greater Brisbane remains a standout for sellers after a stellar 13.3% growth in 2024 and predicted price increases of 7% this year and 8% in 2026.
Ms Ciesielski notes the higher forecasts are being driven by several factors.
“We are definitely moving to a lower interest rate environment and that’s obviously having an impact on the residential market,” she says.
“There are people that have just been waiting on the sidelines and with that anticipated interest rate cut in August there’s a wave of that fear of missing out, which people have experienced in the past. Buyers are starting to come back into the market now.”
At the same time strong population growth continues coupled with construction bottlenecks continue to drive demand—which can all work to a seller’s advantage.
Should I sell in 2025 or 2026?
Marguerite Foxall, McGrath’s Victorian and Tasmanian State Manager notes things are looking positive for sellers moving forward so there’s no need to rush.
But there may be benefits for acting sooner rather than later—especially for those wanting to upgrade before prices really take off.
“Depending on your location and objectives, some sellers might consider listing before spring to secure a settlement, allowing them to start searching for a new home when more properties hit the market during spring,” Ms Foxall says.
Others might choose to wait until summer to take advantage of the traditionally slower season and to better understand the effects of potentially lower interest rates.
“It ultimately depends on each seller’s goals and the dynamics in their local area. That’s why having a supportive and knowledgeable agent is crucial,” Ms Foxall explains.
“Our agents have the expertise to navigate sellers through the entire process.
“They have in-depth local knowledge to help determine the right timing for listing and how to prepare your property for optimal results.
“They also excel at marketing properties effectively and attracting quality buyers to ensure the best outcomes.”
Regional vs metropolitan
While Australia’s major cities are gearing up for significant market activity, areas beyond the urban centres are expected to thrive as well.
Ms Ciesielski predicts that regions outside Melbourne, Sydney, and Brisbane—which experienced a boom during the COVID-19 period but have since slowed—will see a rise in listings and prices again, though not as intensely as the metropolitan markets.
“What we have seen in the last quarter or two is that regional growth has come back into the equation,” she says.
In Victoria, she points out that while Melbourne will naturally dominate in terms of actual sales, regional Victoria outpaced greater Melbourne in terms of sales activity growth when looking at the number of annual sales over the past year.
“Regional Victoria saw a 22% growth, compared to just 4% in greater Melbourne.
“I suspect over the coming year we’ll see that Melbourne sales will be on an upward trajectory, because of the relative value investors will see in that Melbourne market,” she says.
She notes that it is unlikely that regional areas will fall off completely, highlighting the potential impact of older buyers making their next move to regional areas, according to McGrath data.
“I see more interest in those regional towns that aren’t necessarily commutable, that downsizing or tree change population,” she says.
According to Ms Ciesielski prices in regional areas will also be on the up, but nowhere near that of the metropolitan areas.
McGrath forecasts show regional Victoria is projected to achieve a steady 1% growth by 2026.
Regional New South Wales will keep its strength with a 1-2% increase this year and next year.
While regional Queensland will remain a standout with forecasts of 7% increases in 2025 and 5% in 2026.
The post Is now the right time to sell? What the latest property forecasts reveal appeared first on realestate.com.au.
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