Australia-Wide Property Market Analysis by WBP Property Group Reveals Where to Buy, Where to Ignore
Melbourne, Australia, November 30, 2010 --(PR.com)-- Most of us resign ourselves to the idea that we can't possibly know what the property market is going to do in a particular area over a set period of time. However, WBP Property recently released a report based on intensive scrutiny of Australia’s property markets providing detailed identification and analysis of local and state based trends through the experienced eyes of its national network of property valuers and professionals.
The report details property trends and expected pricing and market conditions across Australia’s major capital cities and many suburban and regional centres. The Australian property outlook report offers a starting point for investors and new home buyers, to help pinpoint areas of interest as well as potential no-go zones.
Key trends and recommendations across Australia noted by the Melbourne property valuers include:
Metropolitan Melbourne: Strong performing suburbs include Croydon (20% growth over 12 months), and Essendon (28% growth over 12 months). The unit market is performing strongly, but properties above $500,000 are struggling with sales.
Metropolitan NSW: Though much of Sydney is under severe housing stress, several areas are identified as having consistent demand, including inner and middle Sydney.
South East Queensland: Some areas of South East Queensland are identified as among the worst in Australia for sales performance.
Hobart: WBP names a number of middle-class suburbs that continue to perform well despite a major reduction in the number of buyers.
Perth: Several cities have outperformed the generally flat or declining market in Perth, according to the WBP Australian property outlook report.
Adelaide: Rental vacancy rates remain tight at less than 0.5%, but Adelaide's overall performance is very stable.
"We're glad to be able to offer our insight into the Australian property market at present amidst nationwide concern about the implications of rising interest rates," said Nicholas Brittain, Communications Manager for WBP Property. "This Australian property outlook overview will help investors decide where to focus their efforts, and help homeowners prepare for the future," Mr. Brittain finished.
This detailed report can be found at the WBP Property websites’ knowledgebase section, under the Property Outlook Magazine section; http://www.wbpproperty.com/
About WBP Property:
Multi-award winning WBP Property Group is an independently owned and operated national property services company.
Established in 1992, WBP is a leading provider of residential and commercial property services in Australia servicing a wide array of business and private clients throughout the country.
Our broad range of residential and commercial property services are offered through our four divisions:
Property Valuations
Residential Advice
Commercial Sales and Leasing
Property Management
WBP Head Office is located in Melbourne, Victoria. We operate regional branch offices in Victoria, in addition to metropolitan and regional branches in WA, TAS, SA, NSW and QLD.
WBP is known for its 6-star customer service that results from our talented team of qualified professionals and efficient state-of-the-art systems and technology.
We understand that quality and accuracy are as important to you as timeliness of service delivery and we continue to be committed to offering our clients industry-leading quality control systems.
###
The report details property trends and expected pricing and market conditions across Australia’s major capital cities and many suburban and regional centres. The Australian property outlook report offers a starting point for investors and new home buyers, to help pinpoint areas of interest as well as potential no-go zones.
Key trends and recommendations across Australia noted by the Melbourne property valuers include:
Metropolitan Melbourne: Strong performing suburbs include Croydon (20% growth over 12 months), and Essendon (28% growth over 12 months). The unit market is performing strongly, but properties above $500,000 are struggling with sales.
Metropolitan NSW: Though much of Sydney is under severe housing stress, several areas are identified as having consistent demand, including inner and middle Sydney.
South East Queensland: Some areas of South East Queensland are identified as among the worst in Australia for sales performance.
Hobart: WBP names a number of middle-class suburbs that continue to perform well despite a major reduction in the number of buyers.
Perth: Several cities have outperformed the generally flat or declining market in Perth, according to the WBP Australian property outlook report.
Adelaide: Rental vacancy rates remain tight at less than 0.5%, but Adelaide's overall performance is very stable.
"We're glad to be able to offer our insight into the Australian property market at present amidst nationwide concern about the implications of rising interest rates," said Nicholas Brittain, Communications Manager for WBP Property. "This Australian property outlook overview will help investors decide where to focus their efforts, and help homeowners prepare for the future," Mr. Brittain finished.
This detailed report can be found at the WBP Property websites’ knowledgebase section, under the Property Outlook Magazine section; http://www.wbpproperty.com/
About WBP Property:
Multi-award winning WBP Property Group is an independently owned and operated national property services company.
Established in 1992, WBP is a leading provider of residential and commercial property services in Australia servicing a wide array of business and private clients throughout the country.
Our broad range of residential and commercial property services are offered through our four divisions:
Property Valuations
Residential Advice
Commercial Sales and Leasing
Property Management
WBP Head Office is located in Melbourne, Victoria. We operate regional branch offices in Victoria, in addition to metropolitan and regional branches in WA, TAS, SA, NSW and QLD.
WBP is known for its 6-star customer service that results from our talented team of qualified professionals and efficient state-of-the-art systems and technology.
We understand that quality and accuracy are as important to you as timeliness of service delivery and we continue to be committed to offering our clients industry-leading quality control systems.
###
Contact
WBP Property Group
Nicholas Brittain
1300 302 581
www.wbpproperty.com/
Nicholas Brittain
1300 302 581
www.wbpproperty.com/
Contact
Categories