Dr Andrew Wilson, of www.MyHousingMarket.com.au is Australia’s leading property economist.
Melbourne unit prices continue to rise debunking recent nonsense heralding the spectre of a local market apartment glut. Latest My Housing Market data reveals the median price for published Melbourne unit auctions surged by 8.5% over the March qtr compared to the same period last year. Melbourne recorded a median unit auction price of $635,000…
The latest data from My Housing Market reveals that the median price for published Sydney unit auctions increased by 3.2 percent over the March quarter compared to the same period last year. Sydney recorded a median auction price for units of $930,000 over the first three months of this year compared to a median of…
The Reserve Bank now admits that incomes growth in Australia may remain stubbornly stagnant for longer than expected despite recent robust jobs growth and lower unemployment rates. This really should be no surprise to an increasingly mystified Bank as this conundrum has been challenging other similar developed economies for some time. Full employment and competition…
The Australia Day long weekend marks the end of the lengthy summer holiday break period with businesses and schools now resuming at full pace as February suddenly arrives. Rising activity in recently dormant local housing markets will also emerge and gather momentum through February as buyers and sellers refocus on home choices and activate decisions…
Capital city housing markets have generally tracked backwards over the September quarter as the lower interest rate driver of recent years dissipates. Actions by policymakers to restrict residential investor activity through tighter lending conditions to that group have also acted to weaken prices growth over the last three months. Domain reports that the national median…
Home rental vacancy rates have generally tightened over the past month as the usual seasonal impacts recorded over August increased demand for tenancies. The national vacancy rates for houses, units and total homes all fell marginally over August and remain well below that rates recorded over August last year. All capitals reported declines in vacancy…
House prices in most capital cities have continued to rise into winter although the rate of growth has generally moderated as the recent driving force of last year’s interest rate cuts eases. National house price higher but growth rate sliding The national median house price increased by 1.7 percent over the June quarter to a…
Tight rental markets in most capital cities continue to put strong upward pressure on rents with annual increases now surging ahead of incomes growth. Latest Domain data reports that Canberra, Melbourne and Sydney have clearly recorded the highest annual growth rates with May quarter median weekly asking house rents increasing by 6.4 per cent, 5.0…
Home rental vacancy rates general eased over May although conditions remain clearly tough for tenants in most capital city markets. The national capital city vacancy rate was steady for houses at 2.1 per cent over the month with units easing to 2.2 per cent for an overall result for total homes of 2.2 per cent….
Capital city rental markets remain tough for tenants with generally tight and tightening vacancy rates reflecting overall chronic shortages of accommodation. All capitals reported vacancy rates for houses below 2.0 per cent over April with the exception of the mining capitals of Brisbane, Darwin and Perth. The Darwin and Perth rental markets are however now…
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