Latest news with #SmartMoves:RegionalEdition2025
Courier-Mail
11-05-2025
- Business
- Courier-Mail
Revealed: Affordable places to buy a home in Qld
Queensland's top spots for affordable real estate have been revealed with new analysis pinpointing the regional areas where homebuyers and investors can get on the property ladder for less. The PRD 'Smart Moves: Regional Edition 2025' highlighted the top ten affordable regional markets on the Australian east coast, with three Queensland spots making the list. PRD chief economist, Diaswati Mardiasmo said the report looked at key criteria including affordability, rental yields and future projects to determine the Cairns, Whitsundays and Southern Downs regions were the best bets in Queensland. These hotspots were almost 30 per cent cheaper than Brisbane. MORE: Quirky solution to housing crisis Artist builds Aus first aircrete dome home MORE: See the Aussies who put their pets first when buying a house Un-beer-lievable: SEQ costlier than Melbourne for housing, food, grog Dubbo, Port Macquarie-Hastings and Shoalhaven in New South Wales, Bendigo, Greater Shepparton and Wodonga in Victoria, and Burnie in Tasmania also made the top 10 list. Dr Mardiasmo said with property affordability reaching a new low at the end of last year, the dream of owning a home in a capital city was slipping away for many Australians. 'The national Home Loan Affordability Index fell to just 20.0 points in the December quarter of 2024 – the weakest it's been in more than a decade,' she said. 'Mortgage repayments are now consuming over half of household income. 'Meanwhile, first homebuyers must commit to a higher level of mortgage debt, by an extra 5.4 per cent (nationally).' That figure was even higher in Queensland, up 11.7 per cent. Dr Mardiasmo said the February interest rate cut to 4.1 per cent offered a brief boost, but it wasn't enough to shift the metro markets. 'Instead, buyers are turning to regional locations with lower entry prices, better rental returns, and clear growth potential,' she said. MORE: Shock: Brisbane prices to smash Sydney Australia's biggest political property moguls revealed In addition to Cairns, Whitsundays and Southern Downs, the report flagged Gladstone, Townsville, Mackay, Toowoomba, Ipswich, Bundaberg and Fraser Coast as affordable Queensland regions, with median house prices up to 46 per cent cheaper than Brisbane. 'When looking at local government areas (LGAs) in each state, Queensland has a higher percentage with affordable real estate and ready to sell stock planned,' Dr Mardiasmo said. PRD data showed 87.3 per cent of LGAs in Queensland were 'affordable', meaning they were cheaper than Brisbane, while 54 per cent were affordable and had ready to sell stock. In comparison, just 36.7 per cent of NSW LGAs were affordable and had stock, while that figure was 46.2 per cent in Victoria and 44.3 per cent in Tasmania. The PRD 'Smart Moves' report found Cairns was standout for buyers chasing lifestyle and opportunity, with home prices on the up, good returns for investors and new projects on the horizon. 'New housing supply is on the way, with about $1.8b worth of developments planned for 2025,' the report said. 'Even so, supply isn't expected to meet demand fully, especially for freestanding homes.' The region has a median house price of $650,000, a median land price of $325,000 and a median unit price of $371,000. The vacancy rate is 0.5 per cent with rental yields of 4.8 per cent for houses and 5 per cent for units. MORE: Builder's marvel named Aus hottest house Bikini goddess' 'missing sister' for sale in $15m mystery twist Ray White Cairns selling principal, Ray Murphy said the region offered affordability and good returns for homeowners. 'I can see why we made the cut,' he said. 'Cairns has seen quite a large shift in prices, but compared to national prices, there is so much opportunity here. 'There's also a good lifestyle, especially at this time of the year.' Mr Murphy said Cairns was popular with both owner-occupiers and investors. 'At the moment one in every three transactions is to an investor, mostly from Melbourne, Sydney and Brisbane,' he said. 'Cairns is still quite transient, our vacancy rate is below 1 per cent and people are screaming for rentals. 'Gone are the days of buying a property for $500,000 and renting it for $500. 'Now a $600,000 home generally achieves a rent return of around about $750 to $800 per week.' Ray White Cairns sales director, David Murphy said the Cairns market offered solid capital gains and rental yields. 'It's quite common for properties to achieve 4.5 to 5 per cent net return in just cash flow and, on top of that, capital growth of 7 to 11 per cent,' he said. 'The returns in Cairns have been likened to mining town hotspots, but whereas the region once relied heavily on tourism, the local economy is now much more stable and self-sufficient.' The Southern Downs region west of Brisbane made the PRD list for its affordability, growing popularity and job prospects. 'An estimated $1.9b worth of new projects is planned to launch in 2025, including the Toowoomba to Warwick Pipeline (major infrastructure) and the Sugarloaf Road Subdivision (42 new residential lots),' the report said. Property prices in the Southern Downs had shown impressive growth over the past decade with land prices up 95.2 per cent and house prices up 87.9 per cent between 2014 and 2024. The region has a median house price of $502,500, a median unit price of $302,500 and median land price of $305,000. The vacancy rate is sitting at 0.4 per cent with rental yields of 4.5 per cent for houses and 5.3 per cent for units. The PRD analysis determined the Whitsundays had been one of the state's strongest growth stories in the past five years. 'Around 4000 new residents have moved into the region since 2018 — proof that it's more than the beaches pulling people in,' the report said. 'The Whitsundays is offering a rare mix right now (of) strong lifestyle appeal, decent affordability compared to Brisbane, low vacancy rates and steady returns. 'But the window of opportunity is narrowing.' The region has a median house price of $570,000, a median unit price of $410,000 and median land price of $240,000. The vacancy rate it sitting at 1.3 per cent with rental yields of 3.9 per cent for houses and 5.3 per cent for units. TOP 10 AFFORDABLE REGIONAL AREAS Cairns, QLD Whitsundays, QLD Southern Downs, QLD Dubbo, NSW Port Macquarie-Hastings, NSW Shoalhaven, NSW Bendigo, VIC Greater Shepparton, VIC Wodonga, VIC Burnie, TAS (Source: PRD)
Sydney Morning Herald
10-05-2025
- Business
- Sydney Morning Herald
‘Sydney is just getting to be too hard': The top NSW tree-change towns
Three regional NSW areas have been named among Australia's top affordable markets for home buyers, as soaring property prices in Sydney continue to push them to look further afield. Dubbo, Port Macquarie-Hastings and Shoalhaven ranked as the best regional areas in the state for both affordability and future upside, according to a new report by PRD Real Estate, Smart Moves: Regional Edition 2025. In the report, which covers 10 regional markets, PRD Real Estate applied five criteria to identify the 'most promising' areas for either home buyers or investors. They are affordability, sales and growth, rental yields, future development and employment strength. All three NSW regional markets have entry-level house prices well below Sydney's median, which was $1,645,444 in the December quarter on PRD data. By comparison, median house prices were $532,000 in Dubbo, $845,000 in Port Macquarie-Hastings and $820,000 in Shoalhaven, in 2024. PRD Real Estate chief economist Dr Diaswati Mardisamo said the cost of living was making it too difficult for people to stay in Sydney. Loading 'You have to hustle harder,' she said. 'In Sydney, the cost of living is getting very high. 'And so the question is, why should we do all of that? When we can have a house, and it's half the price of Sydney, and we're still able to find a job in that area. 'It's a total uproot, a total change of scenery because Sydney is just getting to be too hard.'
Sydney Morning Herald
10-05-2025
- Business
- Sydney Morning Herald
‘Golden opportunity': Victoria's top affordable tree-change towns
Three regional Victorian areas have been named among Australia's top affordable housing markets, as rising property prices in capital cities push buyers towards greener pastures. Bendigo, Greater Shepparton and Wodonga are listed as the best affordable regional areas where 'growth, value and lifestyle intersect' according to a new report by PRD Real Estate, Smart Moves: Regional Edition 2025. In the report, which covers 10 regional markets, PRD Real Estate applied five criteria to identify the 'most promising' areas for either home buyers or investors. They are affordability, sales and growth, rental yields, future development and employment strength. In Victoria's case, all three locations have house prices well below Melbourne's median, which was $894,500 in the December quarter according to PRD. By comparison, median house prices in the same period were $580,000 in Wodonga, $570,000 in Bendigo and $490,000 in Greater Shepparton. PRD Real Estate chief economist Dr Diaswati Mardiasmo described regional Victoria as 'a world of opportunities'. She said rising prices in Melbourne and loan conditions were prompting first home buyers to look elsewhere. 'Most of these [regional towns] are 40 to 45 per cent cheaper than Melbourne… You have a lot more choice if you are a first home buyer and [buying] under the first home grant … most of the stock in regional areas in Victoria fits underneath the price cap,' Mardiasmo said. She said the areas listed also appealed to investors due to affordability and less competition.
The Age
10-05-2025
- Business
- The Age
‘Sydney is just getting to be too hard': The top NSW tree-change towns
Three regional NSW areas have been named among Australia's top affordable markets for home buyers, as soaring property prices in Sydney continue to push them to look further afield. Dubbo, Port Macquarie-Hastings and Shoalhaven ranked as the best regional areas in the state for both affordability and future upside, according to a new report by PRD Real Estate, Smart Moves: Regional Edition 2025. In the report, which covers 10 regional markets, PRD Real Estate applied five criteria to identify the 'most promising' areas for either home buyers or investors. They are affordability, sales and growth, rental yields, future development and employment strength. All three NSW regional markets have entry-level house prices well below Sydney's median, which was $1,645,444 in the December quarter on PRD data. By comparison, median house prices were $532,000 in Dubbo, $845,000 in Port Macquarie-Hastings and $820,000 in Shoalhaven, in 2024. PRD Real Estate chief economist Dr Diaswati Mardisamo said the cost of living was making it too difficult for people to stay in Sydney. Loading 'You have to hustle harder,' she said. 'In Sydney, the cost of living is getting very high. 'And so the question is, why should we do all of that? When we can have a house, and it's half the price of Sydney, and we're still able to find a job in that area. 'It's a total uproot, a total change of scenery because Sydney is just getting to be too hard.'
The Age
10-05-2025
- Business
- The Age
‘Golden opportunity': Victoria's top affordable tree-change towns
Three regional Victorian areas have been named among Australia's top affordable housing markets, as rising property prices in capital cities push buyers towards greener pastures. Bendigo, Greater Shepparton and Wodonga are listed as the best affordable regional areas where 'growth, value and lifestyle intersect' according to a new report by PRD Real Estate, Smart Moves: Regional Edition 2025. In the report, which covers 10 regional markets, PRD Real Estate applied five criteria to identify the 'most promising' areas for either home buyers or investors. They are affordability, sales and growth, rental yields, future development and employment strength. In Victoria's case, all three locations have house prices well below Melbourne's median, which was $894,500 in the December quarter according to PRD. By comparison, median house prices in the same period were $580,000 in Wodonga, $570,000 in Bendigo and $490,000 in Greater Shepparton. PRD Real Estate chief economist Dr Diaswati Mardiasmo described regional Victoria as 'a world of opportunities'. She said rising prices in Melbourne and loan conditions were prompting first home buyers to look elsewhere. 'Most of these [regional towns] are 40 to 45 per cent cheaper than Melbourne… You have a lot more choice if you are a first home buyer and [buying] under the first home grant … most of the stock in regional areas in Victoria fits underneath the price cap,' Mardiasmo said. She said the areas listed also appealed to investors due to affordability and less competition.
