Australia set for a bumper spring selling season | Kanebridge News
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Australia set for a bumper spring selling season

It’s an unusually busy end to the traditionally quiet winter season as some grapple with ‘fixed rate cliff’ concerns

By Shannon Molloy
Fri, Aug 18, 2023 9:12amGrey Clock 2 min

Property markets across the country are heating up ahead of the traditionally busy spring real estate season as seller uncertainty begins to thaw, with the trend expected to continue.

The latest PropTrack Listings Report shows the number of homes being brought to market surged by 9.2 per cent year-on-year in Sydney and 9.1 per cent in Melbourne.

While other capital cities were flat, the total volume of properties for sale edged upwards by 0.4 per cent in July.

“While part of the reason for that growth is that last July was a slower month, it is not the whole story,” PropTrack economist and report author Angus Moore said.

“There were more new listings in both Sydney and Melbourne in July than has been typical on average for this time of year over the past decade.”

Activity is likely to continue increasing over coming months after what was a particularly quiet start to the year, he said.

Seller activity would typically be low during the colder months. According to CoreLogic data, new listings historically drop by about five per cent between autumn and winter.

“In contrast, through the winter season to-date, new listings have risen by 13.2% this year, driven mostly by a 17.9% rise across the capital cities compared with a 4.6% rise in the flow of new listings across the combined regional areas of the country,” CoreLogic executive research director Tim Lawless said.

That apparent surge in vendor confidence can be attributed to recent rising home prices in almost all capital cities, Mr Lawless said.

July marked the seventh consecutive month that home prices nationally increased – now up 2.8 per cent across the year, according to PropTrack data.

But for some vendors, Mr Lawless said listing now could be a matter of necessity.

“Anecdotally, we may also be seeing more homeowners needing to sell amid a peak in the ‘fixed rate cliff’, elevated interest rates and high cost of living pressures.

“Data on mortgage arrears continues to show a historically small portion of borrowers are behind on their mortgage repayments, however we are likely to see mortgage stress becoming more evident through the second half of the year.”

The trend in rising listings will be a critical factor to monitor in coming months, he said.

“The spring season is shaping up to be a busy one, making up for the relatively sedate spring and early summer selling season last year.

“Through the recent recovery phase to-date, low available supply levels have been the key factor supporting value growth.

“A rise in stock levels could signal a further easing in the pace of capital gains across Australian housing markets as buyers benefit from a broader selection of available housing.”



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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