Demand for dwellings has seen an impressive lift in the past two months. Evidence of this can be seen through increases in the CoreLogic Home Value Index, higher auction clearance rates, and a rise in the number and value of housing finance commitments reported by the ABS. What will the impact of rising demand have…
Australia’s property downturn continues to take its toll on premium regional markets that benefited most from the mass exodus away from capital cities during the height of the pandemic, with softer values, longer days on the market and bigger vendor discounts. CoreLogic’s quarterly Regional Market Update, which examines Australia’s 25 largest non-capital city regions, shows…
Overseas interest in Aussie properties has surged to record levels as migration hit its highest point in three years, according to the latest PropTrack Overseas Search Report. During the last quarter, the number of searches conducted from abroad for purchasing and renting properties on realestate.com.au reached an all-time high, surpassing previous records set since PropTrack’s…
Treasurer Jim Chalmers has delivered his second budget with a heavy focus on cost-of-living relief for Australians who are struggling due to persistently high inflation and rising interest rates. While Chalmers says the economy should continue to create jobs and unemployment is expected to remain historically low, inflation remains the top economic concern. Chalmers says…
We find ourselves living in a time of great uncertainty, particularly when we cast our gaze upon the economic landscape of the past decade. For an extended period, inflation and interest rates remained stagnant, with no indication of change in the foreseeable future. These conditions persisted for so long that an entire generation has known…
After declining for most of last year, home prices have started to increase again in 2023, with April marking the fourth consecutive month of rises nationwide, according to the latest PropTrack Home Price Index. This is due to factors such as strong migration, limited supply, and tight rental markets, which are offsetting the impact of…
The state of Australia’s rental market is concerning, with no signs of relief in sight. Advertised rents have surged while vacancies have hit historic lows, all due to a scarcity of rental properties. Over the past year, the demand has shifted from regional areas to the capital cities, particularly the unit market, as overseas migration…
Another senior economist has changed their view on the housing market. One by one they are upgrading their property forecasts and agreeing that our housing market won’t crash like they had previously forecast. Recently ANZ’s economists amended their more pessimistic outlook and now expect capital city housing prices to end this year unchanged before a…
There is a housing crisis in Australia with an undersupply of both properties for rental and for sale. The surge in immigration and the return of international students has seen a demand for housing boom. The extra half a million people who will be coming over the next year or two have to live somewhere,…
The off-the-plan apartment market in Australia is facing a crisis, as a growing number of buyers who purchased a residential property via off-the-plan contracts are seeking to on-sell prior to settlement. Rising interest rates are making it difficult for buyers to pass the bank’s serviceability test, and some buyers who might have cleared their bank’s…
