New data reveals that landlords in New South Wales and Victoria are increasingly buying properties in other states due to unaffordable prices in their own. This trend is creating competition and making it harder for local buyers to find homes in more affordable suburbs on the fringes of Melbourne and Brisbane.
NSW and Victorian landlords are increasingly turning to other states to buy properties because unaffordable prices at home have made investing in their own states less lucrative, new data reveals.
Victorian investors were still heavily favouring their home state; 90.72 per cent of properties were bought there. They were showing increasing interest in Queensland, South Australia and Western Australia. The Lendi Group data only covers Lendi and Aussie brokerage customers, but CoreLogic head of Australian research Eliza Owen said the figures matched up with an increase in investor loans flowing to more affordable states, as measured by the ABS.
In Queensland, the median house prices varied between as low as $440,000 near Townsville and as high as $1 million in Logan Village, still well below Sydney’s median of $1.65 million. House prices grew between 8.2 per cent on Brisbane’s fringe and 43.5 per cent near Townsville.
INVESTORS PROPERTY PRICES AFFORDABILITY COMPETITION SUBURBS
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘A real buzz’: The Aussie city that’s the new ‘capital of cool’For decades Brisbane was a sweaty, unattractive sleepy hollow inhabited by archly conservative citizens who went to sleep at night serenaded by a chorus of cane toads.
Read more »
From Depp to 'Glass Cliffing': How New Aussie Comedy 'Flack' Tackles PR ScandalsA new Australian comedy series, 'Flack,' dives into the world of public relations, exploring how scandals are managed and careers are salvaged. The show draws inspiration from real-life events, including the Johnny Depp-Amber Heard trial, and satirizes the strategies employed by PR firms to control narratives and protect reputations. 'Flack' follows two young women, Nicole and Greta, who find themselves thrust into leadership roles at a struggling PR firm. They navigate a series of high-profile crises, from a footballer's disastrous night out to a CEO accused of bullying. The show also examines the challenges faced by women in male-dominated workplaces, highlighting the concept of 'glass cliffing' where women are promoted to positions of power during times of crisis.
Read more »
‘He’ll be fine’: Warner throws support behind potential new Aussie skipper amid Smith injuryCricket: Steve Smith has suffered an elbow injury while fielding for the Sydney Sixers, putting him in doubt for the upcoming Sri Lanka test series.
Read more »
Aussie jewellery brand Kirstin Ash launches new blue sapphire collection: Ink7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Aussie small businesses with less than 20 workers are struggling to keep staff, new data findsThe amount of people working for small businesses, including cafes, bars and restaurants, dropped by 8.1 per cent in that period.
Read more »
Unknown to new $1.5m reality: How BBL explosion could launch next Aussie gun-for-hireBBL: Mitch Owen overshadowed any efforts from the Thunder in the BBL final, with an outstanding knock in front of his home fans.
Read more »