Despite this year’s steep rise in interest rates Aussies keep spending and this consumer cash splash continued driving robust growth in the national economy. Australia’s economy as measured by the Gross Domestic Product (GDP) rose 0.6 per cent in seasonally adjusted terms in the September quarter of 2022 and by 5.9 per cent through the…
At its core real estate is all about supply and demand. So in this blog, we’ll take a closer look at the state of our property market supply and demand. The Australian market Table 1 covers the Australian market, and it shows that detached house supplies are on the increase, when compared to current sale…
Are you looking to get a home loan in 2023? Well, Ryan Gair, CEO of Rate Money, said that… “Australians looking to get a home loan in 2023 will experience hurdles or roadblocks they haven’t faced before.” Gair identified the 5 challenges borrowers are likely to face in 2023: 1. Australians will have less borrowing…
There are many large and powerful institutions that have a vested interest in rising property prices. But all levels of government (i.e., federal, state and local) probably have the most to gain, as I’ll explain in this blog. This leads to two important observations. Firstly, the government is the main contributor to housing affordability pressures…
We’re just a few weeks away before the year ends. And boy, what a year it has been for property! In fact, commentaries say that Australia’s property market in 2022 will be defined as the year that transitioned into a downturn from a once-in-a-generation property boom. 2022 Property market highlights Well, following extraordinary price growth…
As the rental market gets tighter in many areas, renters start to wonder what it takes to get the keys in their hands and their foot in the door. Rent bidding has become a popular road for many people desperate to get into a property. But what exactly is rent bidding and is it even…
Springtime typically draws out buyers and sellers of real estate in Australia, with longer daylight hours, fine weather and lush gardens enhancing the look and feel of properties. For a decade prior to the pandemic, there was an average uplift of 21% in new listings nationally between winter and spring. New listings hitting the market…
Eight interest rate rises this year have created some big winners and losers. So let’s look at the different effects these rate hikes have on investors, homeowners and renters. This year, the Reserve Bank has made home loan repayments far more costly for households with mortgages than expected. That’s around 3.3 million households impacted, but…
The Queensland property market saw one of the strongest price upswings across Australia and some of the highest rent increases through the pandemic. This was because of several factors that were in its favour, including: a highly diverse economy strong internal migration trends and international tourism attractions, including the 2032 Brisbane Olympic Games Well, these…
As expected the Reserve Bank raised the cash rate by another 25 basis points last week – the eighth consecutive hike and a total increase in interest rates of three percentage points. This brings the cash rate to 3.10%, which is its highest level since November 2012. Clearly the board remains committed to overcoming the…
