The past four weeks have seen rapid declines in the cash rate, several changes to fiscal and monetary policy, and a complete halt in business activity across specific industry sectors. As daily updates roll out, enquiries around the state of the housing market have been mounting. Housing market and economic data from last month is…
Observed impacts of climate change on housing markets may once have been confined to areas known for extreme weather. But as Australian summers get hotter and longer, the challenges of climate change are manifesting in the property market in previously unexpected and specific ways. Rising temperatures are proving a disruptive force to town planning, creating…
Rental values on the up as investment properties throughout the previous property upswing absorbed. A quarterly review of national rents by CoreLogic showed that rents surged 0.5% higher over the month to January 2020 to record a current median rental value of $440/week. This was the highest monthly growth rate in the national rental index…
This week the ABS released its housing finance data for December 2019. The results show a strong uplift in borrowing for the purchase of property over the month. Total housing finance for the purchase of property increased 4.4% in December in seasonally adjusted terms, the highest monthly growth rate in over three years. It signifies…
With record-high values expected across Australian dwellings in a few months’ time, 2020 will see the fastest market recovery on record with respect to the length of the downswing. And it’s being led by owner-occupiers. A remarkable recovery Since national dwelling values bottomed out 8.4% below their peak at June 2019, the Australian dwelling market…
Earlier this month, the ABS released detailed dwelling approval data to November 2019. Breaking down approved dwellings by local government area (LGA) highlights a concentration of new development in south-east regional and metropolitan centres, and a relatively low level of medium density approvals. Dwelling approvals by LGA, year to November 2019 – Australia A quarter…
The first home loan deposit scheme (FHLDS) commenced 1st of January 2020. It is a leg-up over the deposit hurdle for first home buyers (FHB) struggling to accumulate a sizeable deposit, providing eligible Australians the opportunity to buy their first home with a deposit as low as 5% of the purchase price. A government guaranteed…
