From the 21st of February 2022, the Australian Government opened the borders and welcomed double-vaccinated tourists and visa holders from around the world. Eligible visa holders can come to Australia without a travel exemption or quarantining, and concessions are being granted to skilled visa holders in order to incentivise them to stay in the country…
In the final week of January, the ABS released the latest inflation figures for Australia over the December 2021 quarter. Inflation measures the change in the price of a basket of goods over time and is a good measure of how supply and demand pressures are playing out in the economy. It has been one…
More space, flexible working conditions, and affordability have successfully tempted property buyers to Australia’s regional areas, fuelling a surge in property values and drastically reducing selling times. CoreLogic’s quarterly Regional Market Update shows Australia’s 25 largest non-capital city regions continued to achieve unprecedented increases in value. Over the 12 months to January 2022, 24 regions recorded…
Australia’s real estate resilience continued its reign through the September 2021 quarter, according to the latest CoreLogic Pain & Gain Report. The rate of profit-making resales across Australia rose to 92.4% in the September 2021 quarter, up 0.5% from the June quarter. The three months to September saw the highest level of profitability on resales…
The property market’s fastest upswing on record, accompanied by a rapid increase in housing credit and highly elevated sales volumes has significantly supported Australia’s post-pandemic economic recovery. National dwelling values rose 22.2%, comprised of a 25.2% lift across regional Australia and a 21.3% rise in combined capital city dwelling values in the 12 months to…
It is likely that 2021 marked the peak of value growth across Australian dwellings, and may have also marked a peak for sales and listings activity. Affordability constraints have worsened, vendor activity has surged toward the end of the year, and the housing finance space is currently showing signs of tightening and slowing. The accumulated…
The extraordinary momentum carried over from 2020, coupled with monetary and fiscal stimulus measures has contributed to an unprecedented year of growth and litany of outstanding results for the Australian residential housing market. The estimated value of Australia’s residential real estate had gone from $7.2 trillion at the end of November 2020, to reach a…
Australian property values are seeing a slowdown in the monthly rate of growth. This trend is expected to carry into 2022, as affordability constraints rise, mortgage rates bottom out, and a higher number of new listings takes some pressure off market conditions. Since the monthly rate of growth in Australian dwellings peaked in March 2021…
The recently released ANZ CoreLogic Housing Affordability Report showed wide-scale declines in housing affordability through the current upswing. At the national level, the ratio of housing values to household incomes reached a new record high in June, as did the number of years it takes to save a deposit, and the portion of income required…
This month, the ABS posted a 2.2% annual increase in the Australian wage price index (WPI). The WPI measures changes in the ‘price’ of wages and salaries over time, meaning it accounts for changes in the quality and quantity of work done. The 2.2% uplift represents wages growth getting back to pre-pandemic levels and is…
