It’s literally the million-dollar question: Do you buy a property now before prices rise even further, or wait until the interest rates fall later this year to free up some more borrowing power? Australia’s housing upswing continued through the first month of 2024 with the national Home Value Index rising 0.4% in January. CoreLogic’s data…
Property buyers in Victoria are paying 6.1 times more for stamp duty than just one generation ago. In Victoria, wages have increased a bit over five times and the median house price has increased just over 12-fold times in that time. According to new PropTrack e61 Institute research, a full-time worker earning an average of…
The Commonwealth Bank, Australia’s biggest lender, is forecasting six interest rate cuts in 2024 and 2025 starting in September this year. They also expect dwelling prices to rise a further 5% in 2024. The CBA’s head of Australian Economics, Gareth Aird, says the recent rise in unemployment will force the RBA to take action to…
The latest 2024 First-Home Buyer Report from Domain, in collaboration with digital lender Unloan, backed by Commbank, offers a deep dive into the evolving landscape for first-home buyers in Australia. This comprehensive report paints a complex picture, primarily influenced by the current surge in interest rates. Quicker savings for a deposit – but it’s not…
Underlying land value, scarcity factor and desire for more space through the pandemic have led to a substantially larger rise in house values relative to unit values over the past four years. At the onset of the pandemic in March 2020, the house premium, or the difference between median capital city house and unit values,…
One thing I’ve noticed speaking with many property investors is… While on the one hand, a small group has done very well over the last few years, spurred on by the recent once-in-a-generation property boom in 2020 – 21 and the strong housing markets of 2023 and this was despite the downturn of 2022. But…
I’ll get straight to the point… I believe the middle-ring suburbs of our big capital cities will be the best medium to long-term investment locations. Here’s my logic… The latest government forecasts suggest that Australia’s population will increase from 27 million to well over 30 million by 2031 And then reach 40 million people by…
Property prices in coastal towns have plummeted as much as $614,000 since their peak as demand for regional markets cools thanks to high-interest rates, tighter lending requirements and a change in working requirements. Following a five-year period of sharp growth in regional areas, in part driven by COVID-19 and work-from-home trends, many businesses are recalling…
At the beginning of this year data released by CoreLogic showed that dwelling values across Australia rose by 67.5% over the past ten years to December 2023. And despite forecasts to the contrary, last year’s dwelling values rose by 8.1%, on average, across the nation. Some urban areas did better than others. Dwelling prices and…
What’s really happening with mortgage stress? Remember all those predictions of a mortgage cliff and lots of distressed selling? There is no doubt that rising interest rates and inflation have created a substantial squeeze on households with mortgages, nudging many to recalibrate their budgets. Yet despite rising interest rates over the last couple of years,…
