The stage is set for the RBA to leave the cash rate on hold next week, despite a rise to Australia’s annual inflation rate from 3.6 per cent to 3.8 per cent. While this is the first rise in annual inflation since December 2022, the result is in line with the RBA’s own forecasts, keeping…
The latest numbers on new home starts are out and it isn’t good news showing Australia is facing a significant challenge in meeting its national target of 1.2 million new homes over the next five years. The promise of increasing housing supply is under severe threat from two major issues: high interest rates and escalating construction…
The winter chills are driving temperatures lower across the country, but the thermometer is not the only thing that has been dropping. CoreLogic’s daily home value index has seen a marked easing in the rolling four-week change, with national values rising just 0.5% over the four weeks to 18th July, down from a 0.7% rise…
Foreign buyers are back in force with activity climbing 27%, according to the latest Foreign Buyer report. The Treasury has just released its latest data, detailing the activity of non-resident property purchasers across Australia for FY2022–23. Foreign buyers spent $4.9 billion on 5,360 properties which is a substantial rise from the previous year. Alongside a…
Domain’s latest Rent Report for the June Quarter of 2024 reveals positive news for tenants, with several market indicators shifting in their favour. The report also predicts that this trend will continue over the next year, providing further relief for tenants. The biggest trend is that most major cities are seeing rent prices either declining,…
In some of Melbourne’s prestigious eastern suburbs, units are fetching higher prices than typical homes. This trend is fueled by demand from downsizers seeking high-specification yet low-maintenance living, alongside families who find houses financially out of reach. Recent data from Domain reveals that the median prices in the four most expensive suburbs for units exceed…
The size of the average new owner-occupier mortgage in Australia has hit a record high, as borrowers sign up for bigger debts than ever before. ABS lending indicator data for the month of May, shows the average new owner-occupier mortgage clocked in at $626,055, the highest level in ABS records. This is despite the fact…
The Real Estate Institute of NSW (REINSW) has uncovered another underhanded plan by the NSW Government to charge property owners more, aiming to offset increasingly “unaffordable” insurance costs. Buried within the Budget’s explanatory notes is a reference to the NSW Revenue Legislation Amendment Bill 2024. This bill outlines the NSW Government’s strategy to shift the…
Household wealth rose for a sixth straight quarter by 2.7 per cent ($431 billion) in the March quarter 2024, according to recently released figures by the Australian Bureau of Statistics (ABS). Total household wealth was $16.2 trillion in the March quarter, which was 10.2 per cent ($1.5 trillion) higher than a year ago. Residential land…
Yesterday’s inflation data revealed skyrocketing insurance premiums could drive the RBA toward a cash rate hike in August. This relentless increase in insurance premiums, well beyond increases in other cost categories, is an inflation villain that could see us all suffer from higher interest rates this year. If the government is serious about stemming inflation,…
