Did you know there are now 32 suburbs around Australia where a $2 million budget will only buy you an ‘entry-level’ premium house? New data shows that the median property price for these pricey suburbs has surged past the $2 million mark in just 7 months. And there’s another 15 expected to join the list…
Australia’s property market has boomed over the past 12 months and the coronavirus pandemic and subsequent lockdowns have done little to curb the skyrocketing trajectory of property prices. Since the Reserve Bank slashed rates to a record low 0.10% in March last year, house prices have risen by 1% to 2% each month meaning property…
There is a clear relationship — a causation not a correlation — between the annual change in housing finance (when brought forward by six months) and the annual movement in house prices. These two charts help explain the short-term future direction of Australian house prices. Chart 1 suggests that house prices are likely to surge…
The coronavirus outbreak and continued lockdowns and restrictions have done little to dampen Australia’s property market. Recent Domain data shows that property prices have reached record highs 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…
In a July 30 tweet, Greens leader Adam Bandt claimed house prices are rising by $1,200 a day, warning that younger workers have been locked out. Is he right? Well ABC fact-checked him and concluded he was “overreaching”. According to the Domain/APM data, the median Sydney house price surged by $106,948 over the June quarter to…
Sure the property markets are booming around Australia, but the rising tide isn’t lifting all ships equally. And the rising tide has left some locations behind. The latest Domain House Price Report shows that while the property boom rages on everywhere, there are eight areas across Australia where median house prices fell over the past year….
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…
Want to know how Australian property values have performed over the last 140 years? Earlier this year I wrote a missive titled Bust? That post held a long-range chart that I cut and pasted from an academic study by Nigel David Stapledon from the Australian Business School of Economics at the University of New South…
One of the key advantages to buying in Brisbane, compared with Sydney and Melbourne, is affordability. It wasn’t that long ago that a house, 10 kilometres from the CBD, could still be found for $450,000. Compare that with Sydney, where median prices on the cusp of the middle ring, just 10 kilometres out from the…