Australia’s unemployment rate plummeted to 3.5% in June, the lowest rate in 48 years. The Australian Bureau of Statistics revealed 88,000 more people were employed in June and unemployment fell by 54,000, pushing the unemployment rate down by 0.4% As a result, there were almost the same number of unemployed people in June 2022 (494,000…
Australia’s rental market continues to tighten as low supply levels cause national vacancy rates to dive and rents to rise across all capital cities and property types over the past three months. CoreLogic’s Quarterly Rental Review for Q2 2022 shows the national rental index increased 0.9% in the month to June and 2.9% over the…
Commentary leading up to the RBA monthly board meetings has pivoted from if interest rates will rise to how much interest rates will rise. Most forecasts were leaning towards a 50 basis point lift in the cash rate, and that is exactly what the RBA delivered, along with further commentary focussed on high inflation, which…
Regardless of the economy, the stage of the cycle or market conditions, property is always a hot topic of conversation. And with our housing markets having delivered staggering growth over the last couple of years there is now that talk of us entering the next stage of the property cycle. The spectre of rising inflation…
Australia’s property boom sees 5 Aussie cities placed in the global top 20 for prime property price growth in 2022. International property consultancy Knight Frank’s Prime Global Cities Index Q1 2022, crowned the Gold Coast as Australia’s top-ranking prime property market thanks to robust property price growth. The city ranked in 7th place with a…
Australia’s pandemic property boom looks like it has come to an end, with new figures showing house and unit prices either stagnated or fell for the first time since the June quarter of 2020. And the price shift, amid jitters over rising interest rates, has affected some types of properties more than others. 2-bedroom houses…
Residential real estate, inflation and interest rates just can’t stay out of the news can they? The latest CoreLogic Chart Pack provides a detailed overview of key market metrics, so here’s what happened in May. Market overview The combined value of residential real estate was valued at $9.97 trillion at the end of May, just…
It’s tough out there for tenants. There’s a shortage of rental properties available, both houses and apartments, with intense competition for the limited supply driving up rentals around Australia. And there’s no relief in sight. According to Dr Andrew Wilson’s My Housing Market, the already low vacancy rates continued to fall over May, driving rents…
Imagine if you invested $100 back in 1926 – the following chart from AMP’s Shane Oliver shows what would have happened. It’s obvious that over very long periods the power of compounding works wonders for shares and property compared to bonds and cash. Australian residential property delivered an average total return (capital growth plus net…
While Australia’s property market started strongly in 2022, an increasing cash rate and concerns about inflation saw property price growth drop across capital cities for May for the first time since the Covid-19 pandemic began in early 2022. Nationwide, property prices dropped 0.11% in May to a new median of $691,000, according to the latest…
