Record population growth will increase housing demand, both to buy and rent. Australia’s population growth has bounced back big time after the Covid restrictions and the country’s annual increase is currently close to 625,000. This likens to a 12,000 increase in the country’s population per week. This is twice the annual average population increase over…
It has been said that a picture is worth a thousand words. So limited words this week. I will let the charts and tables do the heavy lifting. So, what is going on in the new housing space? Here is a snapshot. Chart 1 and Table 1 show owner residents outnumber investors when it comes…
At the beginning of this year data released by CoreLogic showed that dwelling values across Australia rose by 67.5% over the past ten years to December 2023. And despite forecasts to the contrary, last year’s dwelling values rose by 8.1%, on average, across the nation. Some urban areas did better than others. Dwelling prices and…
Imagine for just a few minutes that I am the RBA Governor. This is what I will be announcing next Tuesday at 2.30 pm. ….. Thank you for coming. The RBA board has agreed to leave the official cash rate where it currently stands. Up until last quarter, domestic inflation has been falling and in…
I don’t know about you, but I am losing count as to how many new homes the federal government is promising to build over the next five years. At the time of writing, it is up to 1.2 million – or 240,000 per annum – between 2024 and 2029. The Albanese government will give the…
It is little surprise that many are calling for fewer overseas migrants. This is what happens when over 400,000 people arrive in Australian in one year from overseas. This is especially the case after a lockdown when the country lost 85,000 residents during 2021. This chart 1 shows the rise and fall in net overseas…
In this article, I talk about the current state of Australia’s housing market, examining past and projected population growth, housing demand, and the supply of new dwellings. Four tables provide a comprehensive overview of the data, shedding light on the significant challenges and imbalances within the housing sector. Population growth and projections Annual population growth…
Most of the time, well almost always, when you hear about a change in dwelling values, it reflects prices achieved at sale. Homeowners often misinterpret what this means to them. Many think, that if say, the median value of dwelling sales fell by say 5% over the past twelve months (for example), that their home…
Well, the RBA really does need a broom through the joint. After a 0.25% lift last Tuesday – making it 11 hikes in just 12 months – on some pretence that doing so will somehow reduce inflation. Inflation isn’t caused by the consumer but mainly by a range of ill-conceived government policies and actions. The…
Several new population studies have been released over the past couple of weeks. Frankly, reading them is like watching the paint dry. So, I have summarised – including some estimates from my end – the big picture in two simple tables. The first table shows a few things: The annual population growth rate over the…
