What’s ahead for property in the new financial year? Well, Australian home prices are forecasted to rise again over the next 12 months, although the pace of house price growth is expected to be slower compared to the last 2 years, according to Domain’s FY 25 Price Forecast Report. However, there will be a marginal…
Victoria is set to undergo a housing revolution with an ambitious plan to add 2.5 million new homes by the middle of the century. Premier Jacinta Allan unveiled proposed housing targets for all local government areas across the state to meet by 2051. This comprehensive plan aims to accommodate the state’s rapidly growing population and…
Queensland Treasurer Cameron Dick unveiled the 2024-25 Budget, a mixed bag of cost-of-living relief and new taxes targeting the property industry. One of the key highlights is the increase in transfer duty concession thresholds for first-home buyers. The ceiling has been raised from $500,000 to $700,000, with partial concessions available up to $800,000. This measure…
Millions of Australian homes are at risk of natural disasters and most homeowners are unaware, leaving them sitting ducks and potentially uninsurable, according to Domain’s 2024 Perils Report. Domain CEO, Jason Pellegrino, emphasized the urgent need for Australia to build viable, livable communities as the climate changes. Mr Pellegrino said: “Australians are struggling. Affordable housing…
The prospect of cash rate cuts in 2024 remains in doubt following higher than expected inflation figures released today from the ABS. The monthly CPI indicator shows annual inflation rose 3.6 per cent in the 12 months to April 2024, the highest annual rate since November of last year and up for the second month…
Growth in Regional Australia’s dwelling values and rents continued to pick up pace over the past three months, taking both to new record highs, CoreLogic’s Regional Market Update shows. Dwelling values across Regional Australia rose 2.1% in the three months to April 2024, the fastest quarterly growth rate in almost two years, outperforming capital city…
It seems that green homes are easier to sell, according to Domain’s annual Sustainability in Property Report. Data from the report reveals that energy-efficient homes receive more attention from buyers nationwide, resulting in quicker sales compared to their non-energy-efficient counterparts (see Table 1). Table 1 shows the difference in how long it takes to sell…
In her recent address in Hobart, Reserve Bank Assistant Governor Hunter stated that the home building industry is facing a ‘perfect storm,’ as noted by HIA Senior Economist, Matt King. “New home building is plagued by a structural undersupply of new greenfield and infill land, inefficiencies and delays in planning regimes, development approval processes, skilled…
For a Budget that made housing one of its central focuses, the federal government has three big ‘misses’ in the plans laid out on Tuesday night. Our Budget analysis considers what could be done more efficiently in the approach to Commonwealth Rental Assistance (CRA), construction, and use of existing supply. What did the Budget get…
Amidst Australia’s historic two-year rate hike cycle, the property market has become a picture of resilience and decline, showcasing stark contrasts across cities, suburbs, and regions. A CoreLogic Australia analysis comparing the property market’s performance two years before and after the rate hike cycle reveals that home values across the nation have risen only 2.8%…
