The school holiday period continues to provide mixed results between capitals although listings remain elevated compared to the same period last year. Auction results around Australia, Saturday April 20th 2024: Capital City This Saturday Last Saturday Auctions Rate Auctions Rate Sydney 528 66.6% 750 71.8% Melbourne 801 69.4% 788 65.7% Brisbane 94 65.6% 67 61.3%…
Articles by Dr. Andrew Wilson
Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.
National housing markets have consolidated the growth recorded over the previous month with a generalised surge in home prices reported over the March quarter, well ahead of the February quarter results. According to the latest data from My Housing Market, the national capital city median house price increased sharply by 2.7% to $1,125,923 in the…
We’re suffering an unprecedented rental crisis with no end in sight. Capital city rental markets have continued to report higher rents and fewer vacancies generally over December, ending 2023 with more bad news for tenants. Adelaide was the top monthly performer with weekly house rent increasing sharply by 4.3%, followed by Perth and Melbourne each…
Home building approvals fell again over November, with the underlying trend continuing to decline following the surge recorded in 2021. The ABS reports that building approvals for total private sector dwellings were lower by 10.2% over November compared to the previous month and have now fallen for three consecutive months for the first time since…
Home lending fell sharply over September with the rate of decline accelerating significantly compared to the more moderate August fall. The ABS reports that the value of home loans seasonally adjusted (excluding land and alterations and additions) decreased by 7.8% over September compared to the previous month and is now 19.7% lower than reported over…
Home lending fell sharply over June following the modest recovery recorded in May, with housing market activity impacted by higher interest rates and the onset of the typically quieter winter selling season. Higher interest rates have added to the impact of strong price growth over the past year significantly reducing home loan affordability and sidelining…
Home lending activity recovered modestly over May following the sharp decline recorded in April that reflected that month’s holiday distractions. Declining affordability as a result of recent strong home price growth over the past year however has acted to reduce buyer capacity and decrease home lending from recent record levels. The ABS reports that the…
The RBA has followed up its shock May official rate rise – the first in over a decade, with another increase over June – but this time by an extraordinary, near-record 0.5%. June’s rate increase is the highest since the same result recorded in February 2000 and the second-highest on record behind only the 0.75%…
Home lending activity declined sharply over April with buyer activity sidelined as a result of holiday distractions, the looming federal election and the increased likelihood of higher interest rates impacting confidence. Declining affordability as a result of recent strong home price growth has also acted to reduce buyer capacity and decrease activity levels. The ABS…
The latest economic data released by the ABS has revealed a continuation of the underwhelming results reported since the RBA surprisingly increased official interest rates last month for the first time in over a decade. The ABS revealed that GDP increased by a moderate 0.8% over the March quarter – well below the 3.3% increase…