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…
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…
National home prices have continued to rise over November with 2024 clearly set to produce another positive year for capital city housing markets generally. The national capital city median house price increased by 0.6% to $1,163,921 over the November quarter compared to the October quarter results, according to the latest data from My Housing Market….
For Australian mortgage holders eagerly anticipating relief from the Reserve Bank of Australia (RBA), there’s been a shift in the narrative. ANZ has just joined Westpac and NAB in revising its cash rate forecast, now predicting the first rate cut will occur in May 2025 instead of February and reducing the expected number of cuts…
Australia’s housing shortage is the elephant in the room no one can ignore. With sky-high rents, a squeeze on supply, and frustrated tenants battling for every available property, the housing crisis is a cocktail of systemic issues that’s been brewing for years. Amid this turmoil, the federal government has floated the idea of capping international…
