The NSW government plans to encourage people to move away from floodland by offering stamp duty concessions and other subsidies. The government is working on a proposal for residents of flood-ravaged areas such as Lismore to not pay stamp duty if they buy in an area away from floodplains. The plan will be considered by…
Taking out a mortgage to buy a property is a big step and one of the first questions you’ll face is, which lender should you choose? It can be an overwhelming decision because comparing home loan products is difficult. There is a large range of features that vary significantly across home loan products and comparing…
The 2021 property boom saw prices rise at an unprecedented rate around the country. Yet it was house prices that stole the show, soaring 25.5% to a new national median of $1,066,133 while units a more modest 7.7% to a national $621,880 median, according to recent Domain data. While prices rose across the board, the…
Australia’s mortgage market has already begun to shift in the wake of the Covid-19 pandemic. Property prices are sky-high, supply is scarce and many suggest an RBA rate hike is on the horizon. Over the next 12 months, we can also expect more a drop in buyer demand, a shift back to inner-city living from…
Slowing buyer demand, tighter lending conditions, and affordability constraints contributed to an easing in Australia’s national home value growth rate in February. The lowest rate of growth since October 2020 coincided with a new record high for the residential market’s combined value, which hit $9.8 trillion at the end of February, up from $9.7 trillion…
Australia’s property prices increased at a record pace in 2021 with Domain’s latest quarterly house price report showing that the national median house price surged 25.7% and units by 7.7% year-on-year. But some suburbs outshone the rest. While the median house price in Sydney rocketed 33.1% to a new $1,601,467 median, those numbers were absolutely…
Soaring property prices, low supply, and high demand might be good news for prospective sellers and investors, but it’s making housing affordability further out of reach for first home buyers. Last year first home buyers benefited from a combination of historically low interest rates which boosted their borrowing power; a pause in investor competition for…
Since the coronavirus pandemic hit our shores, Australia’s property market has grown at an unprecedented rate. Closed borders, economic stimulus and low mortgage rates have driven demand for property sky high, with prices following suit. But now things are changing. Vaccination rates are high, lockdowns look set to be a thing of the past and…
Saturday has traditionally been the busiest day in real estate, with open houses and auctions nestled in between soccer matches and lazy mornings. Holding property auctions on a Saturday was traditionally dictated by the typical working week, providing very little time between the standard workday, the daycare and school run, and our everyday hectic lives….
2022 promises to be a fascinating year in real estate. While we will not see the same level of overall price growth in 2022, there will still be a substantial uplift in property values over the year. The difference this year is that the markets will be fragmented. Last year was relatively unusual – we…
