Australia’s traditional peak property listing window is upon us. Every year during the first half of March – referred to as weeks nine to 11 on the calendar – there is a surge in listing activity. But not in 2023. Listings provide a useful real-time indicator of seller sentiment and general market confidence. However, this…
Australia’s population grew by 1.6 per cent in the 12 months to 30 September 2022, according to the latest figures released by the Australian Bureau of Statistics (ABS). Beidar Cho, head of ABS Demography, said: “Our population on 30 September 2022 is 26.1 million people after we recorded an increase of 418,500 people over the…
New data from APRA this week shows a more conservative approach to housing lending in the December quarter of 2022. The Quarterly ADI statistics report reveals the portion of new loans originated on a debt-to-income ratio of six or more dropped to just 11.0% in the quarter, after peaking at 24.3% a year earlier. The…
The latest RBA decision for a 25 basis point lift takes the cash rate to 3.6%, the highest level since May 2012. To date, this rate-tightening cycle has been both the largest and the most rapid on record by some margin. The cash rate setting is now 105 basis points above the pre-COVID decade average…
The housing market has been hit hard by a series of cash rate increases, with new home sales plummeting as buyers struggle to afford the higher borrowing costs. In fact, according to HIA’s Chief Economist, Tim Reardon, “sales of new homes fell again in January, down by 12.8 per cent for the month, leaving sales…
It’s a tough time for central bankers the world over, but especially for Reserve Bank of Australia governor Philip Lowe. Having forecast during the COVID recession that Australia’s central bank wouldn’t raise interest rates before 2024, he’s taking a lot of stick for nine consecutive rate rises since May 2022. This has taken the cash…
Australia’s COVID-induced whirlwind love affair with the country’s hottest regional cities has run its course with values declining sharply as vendor discounts climb and days on market blow out. CoreLogic’s Regional Market Update, which examines Australia’s 25 largest non-capital city regions, shows 13 areas recorded an increase in house values over the year to January…
Australia is known for its vast land and open spaces, but in recent years, the size of blocks of land available for residential development has been shrinking. This trend is particularly evident in urban areas, where the demand for housing is high and the land is scarce. The shrinking size of blocks has significant implications…
The RBA lifted the cash rate a further 25 basis points, to 3.35%, at their February board meeting, continuing what is now the fastest and largest rate hiking cycle on record. The cash rate has jumped 325 basis points since moving off record lows in May last year. Today’s rise in the cash rate was…
After months of declining dwelling approvals, the trend appears to be shifting positively. In fact, the latest data from ABS show that dwelling approvals rose a sharp 18.5% month on month in December, rebounding after the previous month’s 8.8% fall. The rise was driven by the very volatile apartment series (+56.6% month on month after…
