CoreLogic’s national Home Value Index (HVI) rose 0.6% in November, the smallest monthly gain since the growth cycle commenced in February. Despite the slowdown, the national HVI reached a new record high in November. After falling -7.5% from a peak in April 2022 to a trough in January 2023, housing values have bounced 8.3% higher…
Australia’s recent surge in migration, largely driven by the influx of international students and backpackers, appears to have reached its peak. We have experienced a record-breaking rate of net overseas migration, estimated to have reached 500,000 people in the year to September 2023. This spike in migration has been underpinned by international student numbers surpassing…
Australia’s rental market faced a challenging year, becoming even tighter due to consistently high demand and a shortage of available rentals. In fact, new PropTrack data shows the national rental vacancy rate hit a new low in October after falling 0.06 percentage points (ppt) to just 1.02%. Ms Eleanor Creagh, Senior Economist at PropTrack said:…
There are plenty of quandaries swirling around the zeitgeist which confound me. For example, what university course should I take to become a millionaire ‘influencer’? Also, why wasn’t our national anthem composed by a sweat-drenched, pub-rock band from Adelaide? Big questions that someone else will have to resolve I’m afraid. However, there is a line…
Are you considering entering the property market as an investor? While the current market is predominantly made up of home buyers, investor numbers are on the rise. As a property investor, taking that very first step can be exciting, but also quite nerve-racking and very confusing. Knowing what step to take first can be just…
National house prices have continued to record strong results over November although growth rates in most capitals have eased marginally compared to the previous month’s robust results. The national capital city median house price again increased sharply by 0.7% over the November quarter compared to the October quarter – rising to $1,085,389, according to the…
We’re at the beginning of a new property cycle. Early in 2023 our housing markets reset, and property values started rising, despite the fact that the RBA kept raising interest rates. So what happened? What changed? And what does it mean for the future of our property markets? To help understand what’s ahead and if…
How liveable is Australia? In the 2023 National Liveability Survey Australia scored an Overall Liveability Index (OLI) of 62.6 out of 100. This was consistent with the 2022 result (62.5). The OLI is calculated using two inputs: Community Values = what attributes respondents believe make somewhere a good place to live. Community Experiences = how…
What’s the outlook for the Australian property markets for the last few months of 2023 and into 2024? Have our property markets really bottomed out or will the “fixed interest rate cliff” cause a round of distressed sales? Have interest rates really peaked now that the RBA raised rates in November and when will they…
Are you wondering what will happen to the Sydney property market in 2024? Well…After booming through 2020 and 2021 with prices rising by 27.2%, Sydney housing values fell -12.4% from their peak in January 2022 through to the recent trough in January 2023. But now the Sydney housing market has clearly turned the corner with…
