Tenancy reform is making headlines this week after the NSW government announced a ban on ‘no grounds’ evictions. One fear associated with tipping the balance more in favour of tenants is that landlords could exit the market, and new investors may be dissuaded from purchasing property, thus reducing rental supply and pushing up rents. But…
Rental affordability continues to deteriorate in Australia, however, new data from CoreLogic shows renters are starting to favour larger dwellings. A slight slowdown in net overseas migration might also be a driving factor slowing demand for smaller, inner-city units. CoreLogic’s newly launched bedroom count metric – which analyses housing market performance segmented by the number…
The monthly CPI indicator showed inflation increasing in the year to May, with the ‘trimmed mean’, annual inflation measure lifting to 4.4%, up from 4.1% in April. While the monthly CPI indicator isn’t as complete a measure as the quarterly inflation result, there is concern that inflation is back on the rise, which could necessitate…
Australian home values have risen 35.6% since the COVID-19 pandemic hit Australia in March 2020. The market saw a strong cycle of growth through the pandemic, and a short-but-sharp drop in values following the commencement of the rate hiking cycle, and made a full recovery in value by November 2023, hitting fresh record highs each…
For a Budget that made housing one of its central focuses, the federal government has three big ‘misses’ in the plans laid out on Tuesday night. Our Budget analysis considers what could be done more efficiently in the approach to Commonwealth Rental Assistance (CRA), construction, and use of existing supply. What did the Budget get…
Australia is slowly moving through an enormous (though temporary) spike in overseas migration. The ABS reports Australia’s population increased by 2.5%, or 660,000, in the year to September 2023. Its latest regional migration data reveals the areas with the highest migration levels through the 2022-23 financial year (FY23). This has been driven by a combination…
The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart . Summary of median weekly rent and value change – data as of April 2024 Region Median weekly rent Monthly change in…
Australia’s housing market has become harder for first-home buyers to access over time. The past two decades saw an increase of around 150% in the CoreLogic Home Value Index nationally, compared with an 82% rise in the ABS Wage Price Index. As a result, the wealth of property owners looking to buy their next home…
Who owns more property – men or women? Well, according to CoreLogic’s 2024 Women & Property report, which surveyed home ownership status and motivations, barriers and attitudes towards dwelling ownership among women and men in Australia 68.2% of women surveyed own at least one property – including owner-occupied and investment properties – slightly higher than…
Certain economic indicators are usually telling of where the housing market is going. But through the pandemic and beyond, some data relationships fell apart, with the housing market recovery in 2023 defying high-interest rates and low consumer sentiment. What happened to these historic relationships in data, and will they be salvaged? Interest rates and home…