House prices have inflated by a whopping 18.4% over the year to June 2021, as reported by Real Estate institute of Australia’s (REIA), Real Estate Market Facts in the last quarter. REIA President Adrian Kelly said that over the June quarter, the weighted average capital city median price increased by 4.4% for houses to record $913,946 and by 2.9% for other dwellings reaching $632,889.
“At $1,410,133 Sydney’s median house price continues to be the highest amongst the capital cities, 54.3% higher than the national average. At $515,000 Perth has the lowest median house price across Australian capital cities, 43.7% lower than the national average. At $400,000 Perth has the lowest median other dwelling price across Australian capital cities, 37.8% lower than the national average.” he said.
Mr Kelly said major regional centres and coastal areas continued to pique the interest of those escaping the city, Australians moving interstate and strong interest from repatriating Australians resulting in premiums in home sales.
According to the report, significant regional price moments across the year include: Darwin up 21.5%, Broome up 22%, Bendigo up 14.3%, Launceston up 22% with both Wollongong (23.1%) and Newcastle (21.9%) recording major increases. In regional South Australia, median house prices increased in Mount Gambier (12.8%) and Port Lincoln (17.0%) over the year. All regional Queensland zones increased over the past year: the Gold Coast (21.4%), Sunshine Coast (27.0%), Townsville (10.1%) and Cairns (13.2%).
Mr Kelly said the weighted average median rent for 3 bedroom houses in the eight capital cities increased to $453 per week, a quarterly increase of 0.4%. The median rent for 3 bedroom houses increased in Perth, Canberra, Hobart and Darwin but remained stable in all other capital cities.
“Other dwelling rents During the quarter, the median rent for 2 bedroom other dwellings increased in Adelaide, Perth and Darwin, remained stable in Sydney and Hobart, but decreased in the other capital cities. Darwin had the largest increase over the quarter (12.4%),” he said.
Being a homeowner, one of the key things that you need to keep in mind is making sure you improve your property by adding value to it. There are a lot of factors that play a role in helping you to achieve this, and looking at some of the key areas of the home is one of the best ways of going about achieving this as effectively as possible:
Extension
There are a lot of things that you need to make sure you focus on, and this will go a long way toward helping you achieve success right now. You’re going to have to work on taking the right steps that will help you achieve this success, and there are plenty of choices.. Extending the property is a great way of being able to achieve success, and this is something that you need to make the most of. Building a conservatory or out house is a great way of expanding the home and being able to add significant value in the process.
Carport
Adding features to the home in a bid to improve value is one of the best things you can do, and this is something that you should be looking to make the most of as much as you can. There are so many ideas that you need to keep in mind in order to help you with this, and it is something that you have to make the most of right now. Try to make sure you come up with ideas such as a flyover carport that can add something practical to the property which will also allow you to enhance its value at the same time too.
Modernise
Modernising and updating your home is another excellent way of being able to add value. You would be surprised by how much better and more appealing your property looks when you are trying to update and improve it. Wooden flooring, upgrading appliances, and a fresh coat of paint can have a hugely transformative impact on the home moving forward, You have to ensure that you are focused on taking the right steps that are going to help improve and grow your home and modernise the property moving forward,
Add Solar Panels
Solar panels are a wonderful way of being able to be more energy efficient, as well as helping you to embrace a greener way of life. The key with solar panels is that they are a long term investment that will both make the home more energy efficient, as well as saving money in the process too. And this makes them the ideal investment to add value to the property and add wow factor to your garden. This is something that you need to plan and prepare for, as well as looking at selling your power back to the government each year for a profit. Getting solar panels installed will cost you money, but it is an investment that is going to make you money in the process too.
Make Repairs
Making repairs to the home can make a huge difference to how your property comes across, as well as the value of the home. So, you need to try to make sure you do as much as possible to ensure you make the right kinds of repairs. This could be something as simple as fixing a door or a shelf, or it might even cover more complicated repair work. Either way, you need to make sure you are making the right repairs that are going to help you make the right choices to improve your property moving forward.
These are just some of the excellent ways you can go about improving your home and adding value in the process. You have to be able to make the most of this moving forward, and there are so many factors that will help you achieve success here, and this is something you need to make sure you get right as much as possible. Adding value to your home makes a massive difference to allowing you to take your hom to the next level, and really get a great price for it.