Property investors are getting ready to take advantage of our housing markets in 2024. The value of total new investor loan commitments rose 1.9 per cent in November and was 18.0 per cent higher compared to a year ago. The value of new owner-occupier loan commitments for dwellings rose 10.1 per cent through the year…
In an interesting twist on rental affordability, recent PropTrack data reveals that renting a house in Melbourne or Hobart is now less expensive than in Adelaide. Adelaide’s house rents have surged by $60 weekly over the past year, now sitting at a median of $560 per week. This represents a 1.8% increase over the last…
Australia’s population grew by 2.4 per cent in the year to 30 June 2023, according to the figures released by the Australian Bureau of Statistics (ABS) at the end of last year. On 30 June 2023, our population was 26.6 million people, an increase of 624,100 people over the year. Putting that in perspective it’s…
The prospect of another interest rate hike next month has become more remote after inflation fell faster than expected. The monthly CPI Indicator came in at 4.3% in the year to November, down from 4.9% in October and a recent peak of 8.4% in December 2022. However, Treasurer Jim Chalmers has emphasised that the fight…
Australians seem to keen to hold on to their cash, ready for a rainy day and managed to stash more than $10 billion extra in the bank in the month of November alone. The latest APRA data shows household deposits continue to climb, with Aussies stashing an extra $10.5 billion in the bank in the…
How safe are your properties from defects? A new report by The Strata Community Association New South Wales (SCA NSW) has revealed that more than half (53%) of all strata buildings had serious defects between 2016 – 2022, with an estimated $79 million being spent by owners corporations to rectify these issues. This survey was…
The RBA held the cash rate steady at 4.35% for its last meeting of the year. This was broadly expected as several data flows came in weaker through November. Retail trade fell -0.2% month-on-month, and although still low, the unemployment rate ticked up 20 basis points to 3.7% in October. The monthly CPI measure also…
Australian dwelling values have regained the losses from the recent downturn and surpassed their previous peak to reach a new record high, CoreLogic’s national daily Home Value Index shows. After reaching a peak in April 2022, national home values fell -7.5%, finding a floor on 29 January 2023. Since bottoming out, the national HVI has…
Does the stress of renting really make you feel older? Well, according to a new study by Australian researchers that looked at the stress of renting in British adults, people who rent their home as opposed to owning outright age faster than those experiencing unemployment or who’ve previously smoked. The study found that renting stress,…
After recording stronger growth and milder declines through the recent cycles, a new analysis of Australia’s regional housing markets shows many areas have lagged their capital city counterparts over the past year. CoreLogic’s refreshed Quarterly Regional Market Update, which now analyses value and rent changes across the country’s largest 50 non-capital Significant Urban Areas (SUAs),…
