Research firm IBISWorld recently released a report containing insights into who we, as Australians, are today, and who we will be in 2025 – including where we may be set to live. 

On release of the report, IBISWorld General Manager, Ms Karen Dobie, said that increased urban sprawl, gentrification and multi-occupancy housing will continue to be the big housing trends in the coming ten years. 

She also noted that Western Australia is set to experience strong population growth – potentially jumping from 2.4 million to 3.4 million by 2025, adding an additional one million people to the state over the next decade. 

In terms of the types of residences that people will be living in, Ms Dobie commented that property price increases, combined with family and lifestyle factors, are driving a trend towards apartment and high-density living.  More Australians are trading in quarter acre blocks for balconies – a trend IBISWorld expects to continue as Australia heads towards 2025.

Ms Dobie said that “The increasing age of marriage (now 29 for females, 32 for males) and the trend to wait longer to have children is another factor fuelling the shift towards apartment and share house living – with young people opting to live in close proximity to work, entertainment and public transport.”

The report also contained insights into the amount of hours Australians will be working and spending leisure time in 2025, as well as the source of our power, with the use of renewable sources and green energy forecasted to increase.

The governor’s plan to borrow more than $300 million over the next decade for public and subsidized housing raised hopes Thursday that rundown complexes such as Bowles Park in Hartford might get a second chance. “This is what we need,” June Downer, president of the Bowles Park Tenants Association, said. “We’ve had trouble keeping up the grounds, fixing the insides of apartments. Some of them are downright falling apart.” For years, Downer has been pressing for repairs: holes in apartment ceilings and walls; leaking plumbing in bathrooms and kitchens; and the stench that often wafts up from the basement. “The smell hits you like a two-by-four,” Downer said. Get full post…

January 12th, 2012 by Geordie Romer Categories: Home Buyers, Home Sellers, Leavenworth Real estate market

Home sales in Leavenworth and Lake Wenatchee continued to chug along in the 4th quarter of 2011 and I dont think anyone was particularly surprised with the results.

All in all, 2011 looked a lot like 2010.

The median home price in Leavenworth fell from $310,000 to $307,000. This is down 12% from a peak of $349,000 in 2008

Average home prices in Leavenworth fell from $362,000 to $353,000.

Get full post…

According to recently published statistics by the National Association of Realtors, more home sellers are seeking the expertise and professional services of a real estate agent to sell their home, rather than trying to sell it on their own.

Over the last decade, the share of home sellers who used a real estate agent or broker to sell their home increased from 77% to 87%, while people who tried to sell their own home (For Sale By Owner or FSBO) decreased by 9%.

Why are more and more sellers using real estate agents to help them sell their homes?

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With tinsel strung up and Christmas carols playing softly throughout the office, it seems that once again Christmas has come around quickly and is almost upon us.  As I say every year, the years do not appear to be slowing down, and with this year drawing to a close, 2012 looks to be busier than ever for the Australian residential property market. 

To those people who made a property purchase throughout the year, I congratulate you.  Whether buying for the first time or adding to a burgeoning portfolio, purchasing real estate is a significant step and represents an investment in yourself and your future – something to be proud of.    

Alternatively, for those who, for whatever reason, didn’t manage to secure a property purchase in 2011, I encourage you not to give up your search, if property ownership is an important goal for you.  With interest rates down (and the potential for further cuts) and recent improvements seen in housing affordability (amongst other factors), 2012 could be the year where you find your dream home or investment property. 

On the topic of interest rates, for those of you who wish to take advantage of the Reserve Bank’s cut to rates in both November and December and are looking to purchase a property prior to Christmas, I hope the process of organising the necessary elements is a smooth one.  There is no doubt that property transactions in the lead-up to Christmas can be somewhat busy and stressful with many people preparing to go away, and I would advise you to ensure that all elements (such as property inspections, strata reports, etc) are completed before the necessary providers close for extended breaks over Christmas and the holiday period. 

To all of my readers, I hope you have a fun and relaxing time over the holiday season.  I will be taking a little bit of time off writing these blogs to enjoy a nice break but will return in 2012 to make sure you remain up to date with happenings in the Australian residential property market. 

From myself and the entire team at CENTURY 21 Real Estate, I would like to extend warm wishes to all readers for a happy and safe Christmas and holiday period as well as a successful year to come.