Latest news with #JeremySheppard
Herald Sun
19 hours ago
- Business
- Herald Sun
Melbourne's most overvalued postcodes revealed
Melbourne buyers chasing outer and prestige postcodes are being warned to tread carefully, with new research flagging suburbs where prices are at risk of flatlining. According to SuburbData's June 2025 analysis, Beaconsfield Upper, Deepdene, Warrandyte South, Pakenham South, Silvan and Portsea were named as the city's most overvalued. Analysts say desirability isn't in question for the popular areas, but the timing and price are. SuburbData director Jeremy Sheppard said buyers needed to understand the risk of paying peak prices in overheated pockets. 'It may take a while till you get any growth on your investment in an overvalued suburb,' Mr Sheppard said. 'Usually prices will then level out over a few years but buying at the peak of a fast moving market could even mean, in extreme cases, that prices soon fall.' RELATED: Experts say this suburb is better than yours 'F**king nice house' goes viral Block judge lifts lid on dud reno blowouts Whitefox chief executive and Block judge Marty Fox said emotion often drove premiums in hot suburbs, and that could sting later. 'You're paying for yesterday's growth,' Mr Fox said. 'If the market stalls, you've got little insulation, and the holding costs don't care about your paper losses.' However, the head of Gary Peer Real Estate urged buyers not to miss out due to a buzz word, noting that some big price moves were justified when fundamentals change. 'I'm not sure I entirely buy into the term 'overvalued,' Gary Peer said. 'Often, suburbs that appear overvalued have simply caught up to where they should be.' Mr Peer pointed to recent sales in Murrumbeena closing on $4m, an 'unheard of' sum until recently. 'Some might say that's overvalued, but the suburb has transformed: the skyrail removed traffic bottlenecks, new developments brought cafes and restaurants, schools improved, and the overall amenity lifted dramatically,' Mr Peer said. 'In that context, the price growth makes sense.' Melbourne's Most Overvalued Suburbs St Kilda East $1.2m – $348,000 cheaper Box Hill North $1.4m – $135,000 cheaper Doreen $788,000 – $49,000 cheaper Noble Park $794,000 – $42,000 cheaper Kings Park $682,000 – $39,000 cheaper St Albans $721,000 – $34,000 cheaper Deer Park $653,000 – $35,000 cheaper Officer $756,000 – $32,000 cheaper Westmeadows $765,000 – $6000 cheaper Mickleham $714,000 – $2000 cheaper Source: SuburbData, June 2025, suburbs ranked using a blend of demand, supply, and price gap metrics compared with neighbouring areas. MORE: Bold French move puts $15m+ price on Melb home Crazy things stars of The Block do for publicity Melbourne's most expensive shop sitting empty
News.com.au
a day ago
- Business
- News.com.au
Melbourne's most overvalued postcodes revealed
Melbourne buyers chasing outer and prestige postcodes are being warned to tread carefully, with new research flagging suburbs where prices are at risk of flatlining. According to SuburbData's June 2025 analysis, Beaconsfield Upper, Deepdene, Warrandyte South, Pakenham South, Silvan and Portsea were named as the city's most overvalued. Analysts say desirability isn't in question for the popular areas, but the timing and price are. SuburbData director Jeremy Sheppard said buyers needed to understand the risk of paying peak prices in overheated pockets. 'It may take a while till you get any growth on your investment in an overvalued suburb,' Mr Sheppard said. 'Usually prices will then level out over a few years but buying at the peak of a fast moving market could even mean, in extreme cases, that prices soon fall.' Block judge lifts lid on dud reno blowouts Whitefox chief executive and Block judge Marty Fox said emotion often drove premiums in hot suburbs, and that could sting later. 'You're paying for yesterday's growth,' Mr Fox said. 'If the market stalls, you've got little insulation, and the holding costs don't care about your paper losses.' However, the head of Gary Peer Real Estate urged buyers not to miss out due to a buzz word, noting that some big price moves were justified when fundamentals change. 'I'm not sure I entirely buy into the term 'overvalued,' Gary Peer said. 'Often, suburbs that appear overvalued have simply caught up to where they should be.' Mr Peer pointed to recent sales in Murrumbeena closing on $4m, an 'unheard of' sum until recently. 'Some might say that's overvalued, but the suburb has transformed: the skyrail removed traffic bottlenecks, new developments brought cafes and restaurants, schools improved, and the overall amenity lifted dramatically,' Mr Peer said. 'In that context, the price growth makes sense.' Melbourne's Most Overvalued Suburbs St Kilda East $1.2m – $348,000 cheaper Box Hill North $1.4m – $135,000 cheaper Doreen $788,000 – $49,000 cheaper Noble Park $794,000 – $42,000 cheaper Kings Park $682,000 – $39,000 cheaper St Albans $721,000 – $34,000 cheaper Deer Park $653,000 – $35,000 cheaper Officer $756,000 – $32,000 cheaper Westmeadows $765,000 – $6000 cheaper Mickleham $714,000 – $2000 cheaper
News.com.au
4 days ago
- Business
- News.com.au
Revealed: The suburbs where Aussie house prices are way off the mark
Australia's most undervalued and overvalued suburbs have been revealed, exposing areas where prices have either overshot the mark or remain lower than they should be and are due 'catch up' growth. Research from SuburbData showed most the overvalued and undervalued suburbs had varying history, but they were characterised by recent changes in supply and demand. This was coupled with major price differences between neighbouring areas with comparable housing. SuburbData analyst Jeremy Sheppard said overvalued suburbs offered a higher risk of new homeowners having to wait years to get growth on their investments, while those buying undervalued markets may get imminent equity growth. 'It may take a while till you get any growth on your investment in an overvalued suburb,' he said. 'Usually prices will level out over a few years but buying at the peak of a fast moving market could even mean, in extreme cases, that prices soon fall.' Mr Sheppard said knowing which markets were undervalued or overvalued was important in the current climate given how significant prices had become. Undervalued and overvalued suburbs differed across our major capitals: Melbourne as a whole was declared 'tremendously undervalued' and was due for stronger citywide price growth. Some of the most undervalued pockets of Melbourne included suburbs where prices had been kept down over many years by a slew of investment property sales from landlords exiting the market. Sales turnover has since slowed and the balance of demand and supply has changed – with areas like St Kilda West now among the most undervalued and beginning to pick up again. Whitefox chief executive and The Block judge Marty Fox said the relative affordability, especially the six-figure gap between St Kilda East and neighbouring areas, wouldn't last long. Other undervalued suburbs were Doreen, in the outer north, and Noble Park in the Dandenong area, along with a mix of suburbs in the Hume region and northwest Melbourne. Mr Fox said Melbourne as a whole was bouncing back. 'The gap between what buyers think property is worth and what it should be worth is the widest I've seen in years SYDNEY Prices in Sydney's most 'overvalued' suburbs were up to $250,000 higher than nearby, similar areas – often after years of rampant growth that outpaced the rest of the surrounding market. Such price gaps were unsustainable, according to the SuburbData research, with buyer demand now showing signs of dropping while the supply of available properties was soaring. Areas ranked among the 20 most overvalued Sydney markets were a mix of suburbs spread across the greater city area. They included developing suburbs around the coming Western Sydney airport, along with pandemic-era boom markets like the upper northern beaches and outer suburbs dominated by acreages and semirural properties. The Adelaide suburbs to target for future growth, and where to avoid to reduce the risk of overpaying, were a sharp contrast. The most undervalued, the report highlighted was Thebarton, with a median house value of $837,000 – about $132,000 below its neighbouring suburbs. Oakbank, Broadview, Clovelly Park, Camden Park, Cumberland Park, Brompton, Tonsley, Hove and Lightsview rounded out the top 10 most undervalued. LJ Hooker Mile End/Woodville agent Thanasi Mantopoulos said he felt Thebarton still had plenty of room for growth. 'We've seen houses in neighbouring Mile End and Torrensville now consistently break the $2m mark … the current record in Thebarton is $1.64m for a three bedder.' Vista, in the Tea Tree Gully council area, on the other hand, was identified as SA's most overvalued suburb, ahead of Woodville, Taperoo, Leabrook and Wayville and others. BRISBANE The research showed buyers could save over $400,000 by moving their home searches just a few suburbs away, in some cases. One of the suburbs offering the lowest prices relative to neighbouring areas was Fortitude Valley. Other undervalued suburbs were Alderley, Clayfield, South Brisbane and Hamilton. Areas were deemed undervalued if prices were lower than in neighbouring areas – without a reason explainable by geographic differences, such as a lower lying location or a lack of coastal access. Many of Brisbane's most overvalued suburbs were premium lifestyle suburbs that neighboured locations still undergoing gentrification.
Daily Telegraph
17-05-2025
- Business
- Daily Telegraph
Sydney suburbs where homes are selling for huge discounts
Home seekers across pockets of Sydney have been given a double dose of good fortune: their loan costs are getting cheaper as interest rates drop but they're also scoring unthinkable price discounts. Exclusive new analysis has revealed multiple city pockets where home buyers have been securing deals averaging 10 per cent below the list price, helping them save upwards of $100,000. Deals of this magnitude have rarely been seen in the years since the Covid pandemic hit, when record levels of migration and sluggish home building resulted in housing demand outstripping supply. MORE: What homes will be worth in each suburb by 2030 Most of the biggest discounts were secured on apartments across Sydney's middle ring, according to the study of private treaty sales by research group SuburbData. There were also outer areas along prominent train lines where house discounting rates were high. MORE: Block star unleashes on DIY 'time bombs' SuburbData analyst Jeremy Sheppard said these suburbs were 'buyer's markets' where home seekers were entering price negotiations from a stronger position. 'Whatever situation the market is in, whether it's oversupply or some other factor, higher discounts reflect that buyers are in control and sellers have to take what is given to them,' Mr Sheppard said. Suburbs with particularly high average vendor discounting on units were Merrylands West, near Parramatta, and Rosebery in Sydney's south, according to the study by research group SuburbData. Merrylands West apartments were typically selling for about 15 per cent cheaper than the advertised price, while in Rosebery the average discount was 13 per cent. Sydneywide, the average discount on properties of all types, is about 1-2 per cent for private treaty sales, while the average price secured by auction was higher than the price guide. MORE: John Howard's hidden homes shame Other suburbs where buyers secured unit prices an average of 10 per cent below the list price over the 12 months to March were Hurstville, Epping and Surry Hills. Rockdale unit buyers were getting discounting of close to 9 per cent. Recent buyers, accustomed to properties selling for well over the advertised price guides, said they couldn't believe the kind of bargains they were getting. Kelly Olive, 37, who recently bought an apartment in Rockdale for below list price said she felt as though there was someone watching over her. 'I can't believe how lucky I got,' she said. 'It looks like interest rates are going to go down and I got a great unit. I really feel like I bought at just the right time.' Ms Olive added that she didn't have the same luck earlier in her home search, when she had confined her search to the inner west. 'Everything was selling for way over the price guides. It was overwhelming,' she said. 'Then I was told I'd get better value in Rockdale. I hadn't considered the area before. It was a good choice.' A family of four who bought a duplex earlier this year in Revesby, where the average house is selling for 8 per cent below the list price, said they got their home for $105,000 below the original price. 'We later learned we were the only ones who put in an offer and the sellers needed to move quickly. It was the right place at the right time,' one of the buyers said. Home seekers in other parts of Sydney have not been as lucky. SuburbData research showed there were many areas where the average unit or house was selling for above the list price. Unit buyers were paying an average of 13 per cent above list price in the suburb of Sutherland, in Sydney's south, and 8 per cent above list price in nearby Cronulla. It was a similar story in North Kellyville, in the northwest, where units were typically selling for 10 per cent above list price, while in southwest suburb Ingleburn houses were selling for 11 per cent over. 'Properties selling for well above the advertised prices indicates the buyers are often desperate,' Mr Sheppard said. 'Agents don't give buyers the time of day in these markets because demand exceeds supply and they know there are plenty of buyers competing on every listing.' Mortgage Choice Inner West broker Chantelle Rangel said there may only be a small window for new purchasers to capitalise on softer buying conditions in various areas as coming interest rates may heat the market. 'There is always a frenzy of demand as soon as rates drop … I've never been so busy,' she said. 'What's interesting is, we've had a significant increase in Investor pre-approvals as well as people wanting to purchase in their self managed super funds, now that affordability from a personal cash flow perspective has improved with owner occupied repayments becoming more manageable.' Mr Sheppard said buying in an area where vendors were accepting offers well below list prices often came with a downside. 'Buyer's markets are ironically not so good to buy into if you want the value of the property to go up quickly,' he said.
Mercury
16-05-2025
- Business
- Mercury
Huge home discounts: Aus suburbs where you can bag a bargain
Savvy homebuyers are scoring big discounts across a number of Aussie suburbs where sellers are slashing asking prices by thousands of dollars to meet shifting market conditions. New analysis from SuburbData has revealed the top locations for buyers looking to bag a property bargain with Melbourne providing the biggest vendor discounts, the data shows. The Victorian capital currently has 17 markets where buyers could see price drops of over 10 per cent off the original asking price, compared to just eight locations in Sydney, three in Brisbane and one in Adelaide. SuburbData analyst Jeremy Sheppard said suburbs with high rates of vendor discounting were usually 'buyer's markets' where home seekers were entering price negotiations from a stronger position. 'There is a correlation between higher discounts and softer demand,' he said. 'Whatever situation the market is in, whether it's oversupply or some other factor, higher discounts reflect that buyers are in control and sellers have to take what is given to them.' MORE NEWS $80bn upgrade: Aussies' $1300 insane saving How to pick the next booming property market Second RBA rate cut to drive uptick in refinancing Here's how your state compares. QUEENSLAND Sellers across 20 Brisbane suburbs have been forced to cut prices by at least 5 per cent as rising stock levels and affordability pressures bite. Fringe areas like Ipswich, Logan, and Moreton Bay topped the SuburbData list, recording discounts of up to 16.3 per cent. Buyers in Banksia Beach and Wynnum West also secured discounts of about $100,000, or just under 10 per cent off the list price, while savings of 8 to 12.5 per cent were recorded in Eagleby, North Ipswich, Springfield, Wynnum (units), Woodridge, and Bellara, with discounts averaging $66,500 on homes priced between $660,000 to $823,500. Read the full story here. VICTORIA In Melbourne, Mont Albert delivers the strongest discount across the city, with vendors typically selling homes for 18.8 per cent less than they had expected. Point Cook, Collingwood, Lilydale and Altona round out the top five for biggest price reductions, with discounts varying between 13.8 per cent and 17.7 per cent. Other areas where markdowns were more common included parts of the southeast and inner suburbs with older housing listing sor higher proportions of investor-owned properties. Homes that required renovation or had been poorly maintained tended to sit longer on the market and sell at steeper discounts. Read the full story here. NEW SOUTH WALES Home seekers across pockets of Sydney have been given a double dose of good fortune: their loan costs are getting cheaper as interest rates drop but they're also scoring unthinkable price discounts. Exclusive new analysis has revealed multiple city pockets where home buyers have been securing deals averaging 10 per cent below the list price, helping them save upwards of $100,000. Most of the biggest discounts were secured on apartments across Sydney's middle ring, according to the study by research group SuburbData. There were also outer areas along prominent train lines where house discounting rates were high. Suburbs with particularly high average vendor discounting on units were Merrylands West, near Parramatta, and Rosebery in Sydney's south. Merrylands West apartments were typically selling for about 15 per cent cheaper than the advertised price, while in Rosebery the average discount was 13 per cent. Sydney-wide, the average discount on properties of all types, is about 1-2 per cent for private treaty sales, while the average price secured by auction was higher than the price guide. Read the full story here. SOUTH AUSTRALIA In SA, buyers are likely to score the biggest saving in Gulfview Heights with the average vendor discount sitting at 12.5 per cent. It means the average house is likely to sell for $120,000 less than the original asking price, based on the median suburb price of $960.000. Houses in Adelaide CBD are also selling, on average, for 8.2 per cent less the original asking price and 5.3 per cent in Modbury. Potential savings can also be found in Largs North, Banksia Park and Woodside in the Adelaide Hills, where properties sell between 2.1 per cent and 4.9 per cent less the asking price. Read the full story here. NORTHERN TERRITORY In the NT, the biggest winners would be mortgage holders in Fannie Bay, where the average cost of a house is sitting at $906,771. A 25bp cut would mean a saving of $216 a month on the mortgage of a typical Fannie Bay house, while a 50bp drop would save $230 a month. In Lyons, where the average cost of a house is $2.4m, a 25bp cut would mean a $109 monthly saving, while a 50bp cut would equate to $216 a month off the mortgage bill. In Nightcliff, mortgage holders paying off an average house could expect to save $105 (25bp cut) and $209 (50bp cut) a month. At the other end of the scale, a property owner paying off a unit in Bakewell, where the median price is $292,807 would see a monthly reduction of $37 based on a 25bp and $74 based on a 50bp reduction. In regional NT, a 0.25 percentage point rate cut would mean a monthly saving of $53 for an owner paying off a typical house and $32 for a typical unit. While a 0.5 percentage point cut would mean $105 a month of the mortgage of an average-priced house and $65 off an average-priced house. Read the full story here.
