The central western NSW town of Mudgee, a hotspot for mining, agriculture and tourism, has been the top-performing NSW housing market over the past year, according to the latest Residex regional market update.
Mudgee district house prices are up 7.44% for the year to August, with a median house price of $272,500 following a gain of less than 1% in the previous 12-month period.
The report predicts the Mid-Western Region’s population could grow to 30,875 by 2020 and 33,160 by 2030 if 65 per cent of the mines’ workforce is based in the region.
The Mid-Western Region will need more than 5000 new houses by 2021 to cope with predicted population growth resulting from the expansion of coal mining, according to a study on local services commissioned for the State Government. Continue reading 10 years, 5000 houses→
STAMP duty is back on the table for first-time buyers of existing property after a long exemption period and come October 1, those purchasers will no longer be eligible for a $7000 cheque from Mr O’Farrell to ease the homebuying squeeze.
For a $300,000 purchase, NSW home buyers will need to front up $8990 in stamp duty on existing properties before even getting the keys to their new front door. Continue reading Stamp duty back on the table→
For the second year in succession, the Property Shop Mudgee wins Australasian Rural Agency of the Year!
The Australasian Real Estate Results Network Awards (ARERA) brings together the highest performing agencies from across Australia and New Zealand.
Within the network, the benchmarks are very high and members commit to excellence in all aspects of client service.
This wonderful achievement by the team at The Property Shop Mudgee is recognition of the commitment to professionalism and excellence in our field, and the high level of service we provide to our clients.
Steady as she goes. That appears to be the philosophy of the Reserve Bank, who today decided to keep interest rates on hold – the cash rate remains at 3.5%.
Anglicare has declared the plight of low income renters in Mudgee “dire”, after a national survey failed to find even one rental property in the town which would be deemed “affordable” for a family on a single minimum wage.
Anglicare’s National Rental Affordability Snapshot examined about 50,000 properties across every state and territory on the weekend of April 14. Continue reading Rental crisis in Mudgee→
Housing starts won't revive without a bit of help - mostly from governments, Michael Pascoe argues. Two years ago, Reserve Bank governor Glenn Stevens gave punters a very public warning not to bet on house prices rising.
It turned out to be good advice.
Now the RBA is pointing to housing remaining subdued until lower purchase prices, higher rental yields and population growth get us building again. Continue reading →
Pittance ... This house on Wirraway Avenue was sold for just $1000.
The Sheriff’s sale of a repossessed house in Melbourne’s west for $1000 — that was worth an estimated $630,000 — has today been overturned by the Victorian Supreme Court.
The five-bedroom, two-storey brick house in Wirraway Avenue, Braybrook, built in 2006 by owner Zhiping Zhou, was repossessed by the Sheriff in late 2009 after Zhou failed to re-pay a $100,000 debt. Continue reading Court knocks out ‘illusory’ $1000 home sale→
Appetite for mortgages has risen for the first time in two years, unofficial data show, offering hope that home prices may lift in the months ahead.
Mortgage inquiries rose in 1.5 per cent in the first quarter of 2012, compared to the first quarter of 2011, according to Veda’s Consumer Credit Demand Index. They ticked up 0.2 per cent from the fourth quarter of 2011 to the first quarter of 2012. Continue reading Mortgage appetite rises→
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The central western NSW town of Mudgee, a hotspot for mining, agriculture and tourism, has been the top-performing NSW housing market over the past year, according to the latest Residex regional market update.
STAMP duty is back on the table for first-time buyers of existing property after a long exemption period and come October 1, those purchasers will no longer be eligible for a $7000 cheque from Mr O’Farrell to ease the homebuying squeeze.
