ANZ Bank Tips House Price Rise
A predicted 17% rise this year could lock out first-home buyers.
By Terry Christodoulou
Thu, Mar 25, 2021 11:34am
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Australian housing prices are set to rise 17% in 2021 across capital cities according to ANZ economists.
Sydney and Perth housing prices are predicted to rise by 19% in 2021, with Hobart (18%), Melbourne and Brisbane (16%) and Adelaide (13%), following on.
ANZ reported that property prices rose a rapid 9% in the month of February, accelerating sharply from the 0.5– 0.6% gains over the previous three months.
The latest figures are a stark difference from the forecast 9% national rise for 2021 previously predicted by the bank.
ANZ senior economist Felicity Emmett said she expected the Australian Prudential Regulation Authority (APRA) would then introduce macroprudential measures later in the year to slow house price growth to 6% in 2022.
The new forecast figures comes as the red-hot property market continues to surge amid ultra-low interest rates, the likelihood that rates will stay low and pent-up demand following last year’s lockdown measures.
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Owned by Richard Outten, who’s penned screenplays for films including “Pet Sematary Two” and “Lionheart,” this is only the third time the home has been on the market
By CASEY FARMER
Tue, Aug 27, 2024 < 1 min
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A Mid-Century Modern home in Carmel, California, hit the market on Friday for just the third time in 70 years with a listing price of $4.25 million.
Located in the community of Carmel Highlands, the house is just steps from the coastline and comes with private beach access, according to the listing with Tim Allen of Coldwell Banker Realty in Northern California. Allen was not immediately available for comment.
The property last changed hands in 2010 when Hollywood screenwriter Richard Outten bought it for $990,000, public records show. Outten penned the screenplays for the 1992 movie “Pet Sematary Two” and the 1987 film “Lionheart,” and created the story for the 2012 “Journey to the Center of the Earth” sequel, “Journey 2: The Mysterious Island.” He was not immediately available for comment.
Built in 1953, the home’s mid-century charm has been preserved over the years while still being updated for modern living. Interior details include wood paneling, exposed-brick walls and beamed ceilings.
The single-level house has 1,785 square feet, which includes three bedrooms and two full bathrooms. Though not directly on the water, large windows flanking the adobe-brick, wood-burning fireplace look out at the ocean.
Sliding glass doors create a seamless flow between indoor and outdoor living. Outside, there’s a large patio surrounded by lush landscaping, and there are also meandering paths through sustainable succulent gardens, according to the listing.
In addition to its close proximity to the beach, the home is a 10-minute walk from downtown Carmel-by-the-Sea.
As of July, the median list price in Carmel is $3.1 million, up 8% from last year, even as active listings have increased 50% year over year, according to data from Realtor.com.
