Over the past 12 months, CoreLogic’s Home Value Index has risen 8.9%, adding the equivalent of approximately $63,000 to the national median dwelling value ($765,762) and taking the index to a new all-time high in February. A recent suburb-level analysis found that 88.4% (4,087) of the 4,625 house and unit markets analysed nationally saw values…
There’s a striking surge in property prices in select suburbs of Sydney and Melbourne, with some increases exceeding $240,000 over the short span of three months, recent data from CoreLogic reveals. This upward trend suggests a significant turning point, indicating a sustained housing market recovery in 2024. Sydney In Sydney, the suburb of Longueville stands…
It makes sense that many investors are questioning what will happen to the value of their property, particularly in the current market when high interest rates, low borrowing capacity and robust demand at a time of tight supply are putting upwards pressure on prices. Many may be questioning how much their investment property will be…
In the past year, the rental market in Australia’s three major capital cities—Greater Sydney, Greater Melbourne, and Greater Brisbane—has experienced a narrowing gap between house and unit median rents. This trend offers critical insights into the evolving dynamics of the housing market, with significant implications for both renters and investors. Rental landscape of major capital…
What’s ahead for property in 2024? Well, now that we’ve got a few months of the year under our belt it’s clear that many markets around Australia are likely to experience significant growth over the year driven by a confluence of factors that will underpin strong demand for well-located properties. It is now clear that…
The location of your “great Australian dream” can dramatically alter your wealth-building activities and as such, you must take this into account when developing your investment strategy. Homes are typically not purchased with the sole or dominant reason of building wealth as there are many non-financial, lifestyle factors that influence where we live. However, that…
Over the past year, we’ve seen a notable surge in weekly rents for both houses and units, but here’s the kicker: unit rents are climbing at a much faster pace than those for houses. According to PropTrack’s data, house rents have jumped by 10.5% year-on-year nationally, adding an extra $55 to the weekly bill. However,…
Forget the allure of Powerball’s staggering $200 million jackpot – a group of Australian property owners have already struck gold. Recent data from PropTrack reveals a fascinating trend: 67 suburbs where median house and unit prices have not just increased but doubled in the past five years. Where median house and unit prices doubled in…
The nation’s property market has fully recovered from the 2022 downturn, with combined capital house and unit prices ending 2023 at a new record according to Domain’s latest House Price Report December Quarter. This is the first time they have surpassed the previous records that were set in March 2022 for houses and December 2021…
In an interesting twist on rental affordability, recent PropTrack data reveals that renting a house in Melbourne or Hobart is now less expensive than in Adelaide. Adelaide’s house rents have surged by $60 weekly over the past year, now sitting at a median of $560 per week. This represents a 1.8% increase over the last…