Property market predictions from John Edwards of residex

| September 5, 2010

 

I listened to John Edwards (CEO of Residex) today On “Your money your call” and thought I’d post a summary of his thoughts for the Property market for the benefit of those here who didn’t  see the program.

 

Property markets  prime for Renovators and Investors

 

Property research company Residex has advised brokers to concentrate on rebuyers, renovators and investors instead of first home buyers. Kim Davis, who oversees the firm’s MarketFacts broker service, told Broker News that the rebuyer and investor markets have shown strong growth in the last year, and that brokers should concentrate on those markets.

john edwards your money your call foxtel

Australian Bureau of Statistics (ABS) figures show that the first-time buyer market has fallen to 9% of total secured housing finance from 24% in less than a year, and the figures are still trending down. "The first home buyer market has lower security values and lenders are wary of the higher risks. It’s not a good environment for brokers right now," commented Davis. "It means more work for less reward and the risks are higher."

 

Australiawide -wide statistics that he provided in earlier years included:

2007- 19,000 dwellings shortage (with 41% of this in NSW alone)
2008- he’s predicting a rise to 20,000 and climbing if our current situation remains the same.

 

Residex Pty Limited is dedicated to providing quality information on the real estate market to government, financial institutions, valuers, real estate agents, accountants, solicitors and individuals.

The company collects data from various Government Departments and Real Estate Agencies. The data is compiled into a unique database and today Residex would have information on almost every house in Australia.

The age of the data varies, for example Residex holds data in Victoria as far back as 1865 and constructs indices from that date to today. In New South Wales, Residex holds data as far back as 1901 and Residex generates indices from that date. In other states the data extends typically back to the 1980’s

 

Different types of property reports available  at RESIDEX

 
  • Sydney Houses
  • Sydney Units
  • Brisbane Houses
  • Melbourne Houses
  • Sydney Houses and Units
  • Melbourne Houses and Units
  • Tasmania
  • Country East Coast
  • SA, WA, and NT (68 WA, 3 NT, 8 SA)

 

Residex property tool

The redidex website has  nice tool called trhe psot code slider as well check it out -  http://www.residex.com.au/index.php?content=slider&from=lhsmenu

 

If you’re considering properties for an investment, we can help. Just use our free slider to explore the property values in the postcode.

The slider will help you can gain a better idea of what kind of property you can expect for your budgeted price. You don’t have to be an investment guru, the slider has been designed to rate a property from 0 to 10.

 

 

John Edwards

John Edwards, CEO of Residex, every month shares his 15 years’ experience in his Market Watch column.

Subscribers can read John’s unique views on the current trends in the Australian property market and his advice for investors.

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