The latest 2024 First-Home Buyer Report from Domain, in collaboration with digital lender Unloan, backed by Commbank, offers a deep dive into the evolving landscape for first-home buyers in Australia. This comprehensive report paints a complex picture, primarily influenced by the current surge in interest rates. Quicker savings for a deposit – but it’s not…
Sydney’s rental market has plunged into crisis, with ultra-low vacancy rates, high rent prices, strong demand, and a rising population putting the city’s market into a pressure cooker environment. And recent data highlights that the distressing state of Sydney’s rental market has led to a bleak outlook for renters. Here’s a rundown of all the…
Underlying land value, scarcity factor and desire for more space through the pandemic have led to a substantially larger rise in house values relative to unit values over the past four years. At the onset of the pandemic in March 2020, the house premium, or the difference between median capital city house and unit values,…
The decision to keep the cash rate on hold at 4.35% was almost universally expected, given the low inflation figures released for the December quarter, which came in roughly 45 basis points under the RBA’s forecast. Other factors supporting a hold decision include weak retail trade outcomes, a gradual loosening in labour market conditions and…
The latest ABS Lending Indicators data reveals a surprising shift in December, marking an end to the recent growth spurt in new housing loans. A noteworthy decline of 4.1%, down to $26.27 billion, breaks the consecutive five-month growth streak. The most significant drop was observed in the owner-occupied segment, with new loan commitments plummeting by…
Inflation has fallen for the fourth successive quarter. Australia’s annual inflation rate fell to 4.1% in the December quarter of 2023, down from 7.8% in the December quarter of 2022. The new rate is the lowest in two years and the closest in two years to the Reserve Bank’s target band of 2–3%. The decline…
CPI results for the December quarter showed inflation has fallen once again, from 5.4% in September to 4.1%. This marks the fourth consecutive quarter where inflation has declined on an annual basis, and the December result is below the 4.5% forecast made by the RBA last November. Falling inflation reflects softer demand in the economy,…
More than seven in ten (71%) real estate professionals expect interest rates to have the most significant influence on the housing market in 2024, according to a new survey by CoreLogic. Our Decoding 2024: Real estate’s trends and goals revealed’ survey delves into insights of more than 1,400 real estate professionals to uncover their 2024…
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…
