National rents rose by 0.2% in October, a subtle bounce back from the weaker growth over the previous three months, but less than a third of the 0.7% monthly rise recorded in October of the past three years. Annual rental growth has dropped to 5.8%, the smallest annual rise in the national rental index since…
All bets are off for a November RBA rate cut despite a drop in Australia’s annual inflation rate from 3.8 per cent to 2.8 per cent in the September quarter. The Consumer Price Index is now at the lowest level since the March quarter of 2021, and well below the peak of 7.8 per cent…
Victoria’s property market is undergoing significant changes aimed at stimulating buyer interest and addressing the housing supply shortfall. The Victorian government has introduced a temporary stamp duty concession for off-the-plan properties, effective October 21, 2024. The concession runs for a year and targets the state’s property market challenges. By reducing upfront costs, the Victorian government…
The latest Mortgage Insights report from Money.com.au sheds light on key trends in Australia’s home loan market, providing crucial insights for both seasoned investors and first-home buyers navigating these turbulent times. The average new loan size in Australia has risen by 8.8%, now sitting at $636,208, with investors seeing slightly higher figures at $648,998. While…
More than 64,000 people found jobs in September, beating economists’ forecasts for gains of 25,000 jobs. The jump helped to keep the jobless rate unchanged at a revised down 4.1 per cent last month, even as the participation rate – the share of working-age people either with a job or looking for one – hit…
Capital city home rental markets reported varied results over the first month of spring with vacancy rates continuing to tighten following the mid-year easing. House rents however were generally lower again with mixed rental growth for units. Most capitals again reported lower house rents over September with the exception of volatile Darwin with an increase…
A new analysis from CoreLogic has identified 65 markets in Sydney and Melbourne where values are below record highs from the 2010s and vendors are even willing to sell at a loss… but buyers aren’t interested. Housing affordability in Australia continues to deteriorate on several fronts amd the rate of newly built housing supply has…
The total value of new home loans approved in the month of August was $30.38 billion – just 1.0 per cent higher than was recorded the previous month. Growth in the month was again driven by investor lending, up $164.7 million, or 1.4 per cent, according to ABS Lending Indicator data released today. Investor lending…
A closely watched measure of Australian inflation dived in the month of August, plunging from 3.5% in July to just 2.7%. The dip below 3% puts the monthly measure of annual inflation back within the Reserve Bank’s target band of 2-3% for the first time since August 2021. The longer-running quarterly measure of annual inflation…
In a decision that was almost universally expected, the RBA kept the cash rate on hold at 4.35% at the September meeting. With the US recently dropping their cash rate target by 50 basis points last week, alongside earlier cuts from the UK, Canada, NZ, China and the EU (among others), the RBA’s decision to…
