There is currently a shortage of properties both for sale and for rent, and this is one of the reasons house prices of kept rising and rents have skyrocketed over the last few years. Sure the government has talked about building 1.2 million homes over the next five years, but remember they’re not going to…
CoreLogic’s national median rent value ticked up to $601 per week last month, equating to the median annual rent of $31,252 a year. CoreLogic median rent is based on a current estimate of rent income, describing what the median dwelling in Australia would rent for if you put it on the market at any given…
The nation’s property market has fully recovered from the 2022 downturn, with combined capital house and unit prices ending 2023 at a new record according to Domain’s latest House Price Report December Quarter. This is the first time they have surpassed the previous records that were set in March 2022 for houses and December 2021…
The final report from the Senate Inquiry into the worsening rental crisis in Australia produced no collective recommendations whatsoever and was a waste of taxpayers’ money, according to the Property Investment Professionals of Australia (PIPA). The inquiry’s final report — quietly released in early December — included a recommendation from the chair for a two-year…
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…
