The latest Domain Vacancy Rate Report for November 2023 shows that for the third consecutive month, Australia’s vacancy rate remains at 0.8% – a record low. A chronic undersupply of rental stock coupled with strong overseas migration and rising property prices against increasing demand are driving the competitive nature of the rental market. However, there…
Total residential property listings modestly rose in November led by some larger percentage increases in Canberra and Hobart. However, Sydney surprised by remaining largely steady in what is normally the busiest month in the year for selling activity. Melbourne recorded a 1.9% increase in total listings for November which represented the largest absolute contribution to…
What’s ahead for our property markets in 2024? Well, according to Domain’s 2023 End-Of-Year Wrap and 2024 Outlook report, continued growth in house and unit prices is anticipated. Dr Nicola Powell, Domain’s Chief of Research and Economics, said: “Some buyers, sellers, and renters proactively adapting to the lingering impact of the 2023 market movements and potential…
Capital city weekend auction markets have commenced December with generally steady results despite another big day of late year auctions in most capitals. Auction results around Australia, Saturday December 2nd 2023: Capital City This Week Last Weekend Auctions Rate Auctions Rate Sydney 859 69.6% 914 68.3% Melbourne 1071 65.2% 1019 62.3% Brisbane 91 53.1% 102…
Despite all the predictions of property Armageddon due to rising interest rates our property markets turned the corner early this year with all major research houses reporting higher median prices around Australia for eight months in a row. Despite a continuing conveyor belt of negative sentiment in the media, buyer sentiment has changed with early…
The latest Proptrack Home Price Index showed home values have remained resilient to higher interest rates this year, and this continued in November with prices continuing to lift and hitting fresh record highs in many markets, although the pace of growth has slowed due to the increase in properties coming to market. Further, it showed…
CoreLogic’s national Home Value Index (HVI) rose 0.6% in November, the smallest monthly gain since the growth cycle commenced in February. Despite the slowdown, the national HVI reached a new record high in November. After falling -7.5% from a peak in April 2022 to a trough in January 2023, housing values have bounced 8.3% higher…
Australia’s recent surge in migration, largely driven by the influx of international students and backpackers, appears to have reached its peak. We have experienced a record-breaking rate of net overseas migration, estimated to have reached 500,000 people in the year to September 2023. This spike in migration has been underpinned by international student numbers surpassing…
National house prices have continued to record strong results over November although growth rates in most capitals have eased marginally compared to the previous month’s robust results. The national capital city median house price again increased sharply by 0.7% over the November quarter compared to the October quarter – rising to $1,085,389, according to the…
Today I’d like to offer a list of simple strategies that can help Australians improve their financial fitness. If done properly, this includes assessing all aspects of personal finances, including strategies to boost retirement investments, such as including property and super, savings, a review of insurance policies, staying ahead of tax obligations and making an…
