Aussies are focussing more on their outgoings, prioritising essentials and cutting back where they can according to a recent report by NAB. Clearly, the cost of living is steadily rising in Australia and is becoming a key issue for consumers. Rising inflation has been the key driver, with Australian consumer prices rising by 5.1% over…
Is it now a buyers market for those living in NSW, given that we are witnessing an overall slowing momentum in property value? The latest report from Domain highlights this property trend across Australia’s most populous state, with their Chief of Economics and Research, Dr Nicola Powell commenting: “The NSW property market has been an…
While Australia’s property market started strongly in 2022, an increasing cash rate and concerns about inflation have seen property price growth slow or even drop for the first time since the Covid-19 pandemic began in early 2022. While it was cheaper to buy rather than rent over half the properties in Australia in 2021, the…
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…
