As we close the chapter on 2024, it’s clear that Australia’s property market has showcased remarkable resilience amid economic uncertainty. Despite ongoing challenges like rising living costs, affordability pressures, and stubbornly high interest rates, the property markets have defied expectations. Domain’s 2024 End-of-Year Wrap and 2025 Outlook provides an in-depth look at the forces shaping…
Imagine living on a street where the median house price rivals the GDP of a small nation. Now, picture the breathtaking harbour views, iconic mansions, and prestige that come with it—welcome to Australia’s most expensive streets. Australia’s elite real estate hotspots From Sydney’s shimmering coastline to Melbourne’s leafy enclaves, certain streets are synonymous with wealth,…
Nationally, the asking prices for houses and units show mixed trends. House prices declined by 0.2%, while unit prices increased by 0.4%, resulting in an overall drop of 0.1%. Across all capital cities, the average asking price experienced a decrease of 0.8%, with house prices dropping by 0.9% and unit prices declining by 0.7%. In…
It was only a couple of months ago that most economists were certain the Reserve Bank would cut interest rates by February 2025 at the latest; now most are suggesting the first rate cut won’t come until May and possibly later. Last week, the latest monthly CPI indicator was released, showing headline inflation has remained…
CoreLogic’s national Home Value Index (HVI) rose by just 0.1% in the last month of spring, the weakest Australia-wide result since January 2023. This marks the 22nd straight month of growth in this cycle. The mid-sized capitals, Perth Adelaide and Brisbane, which have dominated the growth cycle of late are losing steam and the downturn…
National home prices reached a new peak in November following 23 consecutive months of growth, however despite growth remaining positive, momentum has slowed, according to the latest PropTrack Home Price Index. Ms Eleanor Creagh, Senior Economist at PropTrack explained: “Although price growth has slowed, prices lifted 0.15% in November and the national median home value hit $800,000…
Australia’s housing market has reached a critical juncture, with only 10% of homes now deemed affordable for the average worker, according to a recent report by ANZ and CoreLogic. This alarming statistic highlights the growing disparity between income levels and property prices, raising concerns about the nation’s economic stability and the future of homeownership for…
CoreLogic’s national Home Value Index (HVI) rose by just 0.1% in the last month of spring, the weakest Australia- wide result since January 2023. This marks the 22nd straight month of growth, but it could be close to the last in this cycle. The downturn is gathering momentum in Melbourne and Sydney. Meanwhile, the mid-sized capitals,…
Are Australian mortgage holders finally catching a break? New data from Roy Morgan hints at a turning point in the battle against mortgage stress. In October 2024, the proportion of Australian mortgage holders identified as ‘At Risk’ of mortgage stress dropped to 28.3%. This marks the third consecutive monthly decline and represents a 1.2 percentage…
As the dust settles on a turbulent year in real estate, the absence of Chinese investors is emerging as an interesting shift in Australia’s housing market. Chinese buyers, once some of the most significant contributors to the new apartment sector of housing markets are dramatically scaling back their involvement. Data from the Foreign Investment Review…
