Millions of Australian homes are at risk of natural disasters and most homeowners are unaware, leaving them sitting ducks and potentially uninsurable, according to Domain’s 2024 Perils Report. Domain CEO, Jason Pellegrino, emphasized the urgent need for Australia to build viable, livable communities as the climate changes. Mr Pellegrino said: “Australians are struggling. Affordable housing…
The prospect of cash rate cuts in 2024 remains in doubt following higher than expected inflation figures released today from the ABS. The monthly CPI indicator shows annual inflation rose 3.6 per cent in the 12 months to April 2024, the highest annual rate since November of last year and up for the second month…
Growth in Regional Australia’s dwelling values and rents continued to pick up pace over the past three months, taking both to new record highs, CoreLogic’s Regional Market Update shows. Dwelling values across Regional Australia rose 2.1% in the three months to April 2024, the fastest quarterly growth rate in almost two years, outperforming capital city…
It seems that green homes are easier to sell, according to Domain’s annual Sustainability in Property Report. Data from the report reveals that energy-efficient homes receive more attention from buyers nationwide, resulting in quicker sales compared to their non-energy-efficient counterparts (see Table 1). Table 1 shows the difference in how long it takes to sell…
In her recent address in Hobart, Reserve Bank Assistant Governor Hunter stated that the home building industry is facing a ‘perfect storm,’ as noted by HIA Senior Economist, Matt King. “New home building is plagued by a structural undersupply of new greenfield and infill land, inefficiencies and delays in planning regimes, development approval processes, skilled…
For a Budget that made housing one of its central focuses, the federal government has three big ‘misses’ in the plans laid out on Tuesday night. Our Budget analysis considers what could be done more efficiently in the approach to Commonwealth Rental Assistance (CRA), construction, and use of existing supply. What did the Budget get…
Amidst Australia’s historic two-year rate hike cycle, the property market has become a picture of resilience and decline, showcasing stark contrasts across cities, suburbs, and regions. A CoreLogic Australia analysis comparing the property market’s performance two years before and after the rate hike cycle reveals that home values across the nation have risen only 2.8%…
The interest rate outlook has changed remarkably in a short space of time. It was less than two weeks ago that financial markets and many economists were forecasting a rate cut as early as September. With the release of higher-than-expected inflation figures for the March quarter, a new ‘higher for longer’ mantra has emerged. Recall…
The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart . Summary of median weekly rent and value change – data as of April 2024 Region Median weekly rent Monthly change in…
The lending landscape experienced another surge in March, marking the second consecutive month of growth as buyers rushed into the market ahead of anticipated cuts to the country’s official cash rate. According to the latest ABS Lending Indicators seasonally adjusted data, the total value of new home and investment property loans reached $27.64 billion in…
