Since the onset of COVID-19, a prominent trend across the Australian dwelling market has been the high demand for detached houses. This is reflected in price changes of houses and units since March last year, as stage 2 restrictions rolled out across the nation. In the past 16 months, capital city house values rose 14.2%….
House prices have increased again across all capital cities as the perfect storm for Australia’s property market continues to roll out. Australia’s national median house price has climbed exceptionally close to the million-dollar mark at $955,927 – which is a huge 18.8% increase over the year, or 5.8% over the June quarter, according to Domain’s…
Sydney’s luxury home market will be world’s strongest prime property market in 2021 according to international property consultancy Knight Frank with prices forecast to rise faster than envisaged just six months ago. However in 2022, Australia’s biggest city, crowned the most improved prime residential market, will share the top spot with London, with both cities…
So, Brisbane got the good news recently — we will host the 2032 Olympic Games! But what will that mean for our property market? If history is anything to go by, home buyers and investors could be in for some strong property gains. CoreLogic has highlighted that Sydney property values jumped 60% between the Olympic…
Property investors – the Australian Taxation Office (ATO) has put you on notice. They say you should beware of common tax traps that can delay refunds or lead to an audit costing you time and money. In 2019-20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions. Assistant Commissioner Tim Loh…
The total value of new loans fell in June for the first time this year, according to new ABS Lending Indicators data. There were $32.05 billion of new home loan commitments in June, down 1.6 per cent month-on-month, the biggest monthly drop since May 2020, according to seasonally adjusted data from the ABS While the…
Australia’s property prices have increased much higher than what the market would have seen if the Covid-19 pandemic didn’t exist. House prices in most capital cities were expected to enter a cyclical upswing at the start of 2020, a new KPMG Economics report shows, but the global pandemic has supercharged that growth far beyond what…
CoreLogic’s Auction Market Review for the June quarter of 2021 shows 31,605 homes were taken to auction across the combined capital cities in the three months to June 2021. These figures make it the busiest quarter for auctions since the December 2017 quarter when 32,408 capital city auctions were held. In comparison, the March 2021…
National housing markets are cooling rapidly as lockdown restrictions and wavering confidence sideline buyers and sellers in most capitals. My Housing Market reports that the number of homes newly listed for sale nationally has crashed over the past week as concerns over a protracted shutdown have potential sellers increasingly taking a wait-and-see approach to the…
Booming property prices across Australia means workers with an average income are watching their dreams of homeownership slip further and further away. According to the latest ATO data, the average taxable income for Australians in the 2018-19 financial year was $62,549. Meanwhile, according to this home loan borrowing calculator, that would give a single person…
