Australia’s property prices fell further throughout the nation in June as higher borrowing costs and rising interest rates weighed heavily on the market. Nationwide, property prices dropped another 0.25% in June to a new median of $716,000, according to the latest PropTrack Home Price Indicator report. Prices continued to decline in Sydney (-0.40%) and Melbourne…
Essential workers in New South Wales, including teachers, nurses, and police officers, will be helped to buy a home under a new government housing scheme. Premier Dominic Perrottet announced a new $780.4 million shared equity scheme on Sunday which would see the government contribute an equity share of up to 40% for a new property…
Since the announcement that the country would welcome back overseas migrants and students, there has been a shift in interest in the unit market, particularly in the centre of our major cities. Eleanor Creagh, senior economist at REA Group, has pulled data for 13 charts to show the current state of Australia’s unit market and…
Soaring house prices in New South Wales in recent years have provided homeowners and investors with the quickest and sharpest equity boost in history. A year ago, house prices were rising 46 times the current pace, and at the same time unit prices were also increasing – this indicates that Sydney’s steepest upswing on record…
The Labor party’s recent Federal Election win brought about a raft of new policy measures designed to address the property market’s biggest issues. Housing affordability and ownership have become an increasingly important issue for governments to address after record house prices pushed the idea of owning property out of the reach of many first-home buyers…
Remember all those scary headlines about the “cliffs” we were going to fall off during the Covid pandemic? There was a fiscal cliff, then an interest rate cliff, and there was an unemployment cliff where unemployment would jump to double digits. By the way… no one fell off those cliffs, did they? Well…now there’s talk…
Now that the housing market is slowing, with national home prices falling for the first time since the pandemic onset in May, can we consider the market a buyer’s market? Demand to buy property greatly outweighed the supply of properties for sale, but as the Spring selling season kicked into gear that changed and the…
Do you feel wealthy? How much would you need to feel wealthy? According to YouGov research commissioned by crypto wealth platform Dacxi and reported in the Financial Review, the answer depends on who you ask. Source: Australian Financial Review Wealth journalist Lucy Dean reports that 40% of Australians reckon if you’re earning more than $150,000…
Did you know that a new billionaire was created every 30 hours during the Covid pandemic? This is according to a new Oxfam report which reported that 573 people became billionaires during the pandemic, with 5 new billionaires minted in Australia in a single year. Billionaires have been profiting Of course, we know that during…
The slowdown of Australia’s property market has worsened as rising mortgage rates and high property prices see buyer demand slump further, according to the latest PropTrack Housing Market Indicators report. The report shows that demand from prospective buyers continues to slip back from the extreme levels witnessed in 2021, as expectations of price falls dampen…
