Home loan activity has continued its recent decline as falling affordability driven by booming house prices increasingly constrains buyers. The ABS data reveals that the total value of home loans seasonally adjusted fell by 1.1% over July which follows similar declines over June. Although home lending has fallen over recent months, activity remains at near…
Wages growth remains subdued which adds further to the likelihood that interest rates will not increase until 2024 at the very earliest, as predicted by the RBA. The ABS reports that the Wage Index increased by just 0.4% over the June quarter which was well below the 0.6% reported over the previous two quarters. Although…
Declining vacancies and higher rents continued to characterise capital city rental markets over July, with increased Covid restrictions set to again disrupt activity. House rents have soared over the past year with the exception of Melbourne where an exodus of Covid refugees may have acted to reduce demand for tenancies. Increased demand for larger premises…
National housing markets are cooling rapidly as lockdown restrictions and wavering confidence sideline buyers and sellers in most capitals. My Housing Market reports that the number of homes newly listed for sale nationally has crashed over the past week as concerns over a protracted shutdown have potential sellers increasingly taking a wait-and-see approach to the…
Investors continue to re-engage our housing markets after a lengthy period of underperformance and are driving overall residential lending to new record heights. Latest ABS data reveals that the value of total home lending seasonally adjusted increased by 4.9% over May to yet another record high of $37.89 billion. The May increase was the highest…
Do you think Australia’s share market is booming. Well think again! Sure Australias sharemarket has finished the 2020-21 financial year on a high, with the All Ords reporting a record year of growth — up by 25.6% This strong sharemarket recovery over the past year reflects the resilience of the Australian economy that has been…
Capital city rental markets continued to tighten over June with vacancy rates remaining at generally low levels — and still falling. Low vacancy rates are predictably translating into higher rents with current trends indicating the little prospect of easing over the foreseeable future. House rents have increased sharply over the past year in Brisbane, Adelaide,…
Capital city auction markets have continued their recent record monthly performances, reporting more unprecedented results for clearance rates, auction sales, listings and prices for June. 9,551 homes were listed for weekend auctions over June at an average of 2,388 per weekend – a record offering for June. The average for June was just below the…