Successive interest rate rises, surging inflation, low consumer sentiment and deteriorating affordability drove a shift in Australia’s 2022 housing market performance, CoreLogic’s Annual Best of the Best report reveals. When summing up the year that was, CoreLogic Head of Research Eliza Owen highlighted two distinct characteristics of capital growth trends in 2022, with the first…
Building approvals are at a 2-year low. In fact, only 849 units were approved in Sydney in November and a somewhat healthier 1,922 in Melbourne. Annual approvals for attached dwellings are running at around decade lows in the major cities, and are sinking fast again in Brisbane. Detached house approvals are falling away fast in…
This is the ninth property downturn I’ve experienced in my 5 decades of investing, and I saw it coming and I’m taking advantage of it. However, the current market is causing concern and stress for many investors who’ve never invested during times like this before. In reality, the market is just doing what it always…
The CoreLogic Daily Home Value Index (HVI) hit a record decline of -8.40% on 7 January 2023 after peaking on 7 May 2022. The result takes the national housing downturn into new territory, breaking the previous record in peak-to-trough declines, when home values fell -8.38% between October 2017 and June 2019. While the housing downturn…
Australians desperately need more affordable homes, particularly homes for rent. The prospect of home ownership is rapidly receding for many people, especially younger generations (as the chart below shows). More people than ever are being forced into a tight rental market. Making things worse, many traditional providers of residential rentals, the “mum and dad” investors,…
One of my children’s favourite stories was the Very Hungry Caterpillar. No matter how many times they heard the ending; there were always gasps of amazement when the caterpillar changed into a beautiful butterfly. What seemed like a miracle to them is actually a normal part of the life cycle of many insects, but it…
Few sectors of the economy are as sensitive to interest rates as the housing market. During 2022, eight successive rate rises aimed at offsetting high inflation sent tremors across the market causing buyers and sellers to sit on the sidelines paralysed by a lack of confidence. However or markets did not crash like some of…
Have you wondered how the Covid-19 pandemic affected our property markets? Well, for one, preferences for different locations and property types have changed extremely quickly, and the housing market is still adjusting. These changes go beyond the once in a generation property boom we experienced which were largely driven by lower interest rates and various…
The Australian property market has seen its fair share of ups and downs over the past few years, and 2023 is shaping up to be no different. As we head into this new year, there are a few key themes that are expected to dominate the market. These themes will have an impact on the…
Australia’s first multi-city region, the Six Cities Region, is being developed in New South Wales. A multi-city region, also known as a mega-region, establishes an integrated network of globally and locally connected cities. The Six Cities Region spans the Lower Hunter and Greater Newcastle City, Central Coast City, Illawarra-Shoalhaven City, Western Parkland City, Central River…
