We know that Australian house prices rose 2.3% during the 12 months to September 2022. I estimated that house prices could rise by 4% for the year ending September 2022. My model was a little bit out. Splitting hairs if you ask me, especially against the wild forecasts that are currently being thrown about. Well, based on the…
In the midst of the property market upswing, property across the country was selling at lightning speed, with countless reports of property sales happening within hours of being listed for sale. Now that the market has cooled and prices have fallen from their peak, higher lending costs and dampened demand means the time it takes…
Australia’s rental crisis worsened further during the September 2022 quarter as the volume of the rental stock dropped to the lowest level seen in the last 19 years, a new report has found. According to PropTrack’s latest rental report, the total number of properties advertised for rent on realestate.com.au fell by 8% month-on-month in September…
Australia’s house prices are seeing the fastest quarterly decline on record. However, September quarter could be a peak quarterly decline, according to Domain’s House Price Report. It’s not really as bad as some of the property pessimists are predicting. In fact, house prices across the combined capitals are now 4.9% below the March 2022 price…
Property prices surged across the country as the pandemic boom, driven by ultra-low borrowing rates and high demand, with some areas seeing an uptick in prices by as much as 69%. But now the heady heights of the pandemic boom have eased – the Reserve Bank is swiftly hiking rates, pushing many would-be buyers off…
There’s lots of talk about property values plummeting, but what’s really going on? The Real Estate Institute of Australia (REIA) President, Mr. Hayden Groves confirmed that their latest Real Estate Market Facts found that Australian housing prices fell over the June quarter as rising interest rates and inflation impacted affordability, but not all cities and…
Property prices have fallen from their peak around the country as consecutive interest rate hikes increase lending costs and dampen demand. But while price falls are widespread, some suburbs have bucked the trend. The sea- and tree-change trend has seen many Australians move to lifestyle or coastal suburbs where homes are larger and more affordable….
Australia’s national property prices fell further again in August as reduced borrowing capacity and fast-rising interest rates continue to weigh on demand. Across the country, property prices dropped another 0.39% in August to a new $763,000 median, and are now 2.7% below their peak, according to the latest PropTrack Home Price Indicator report. Prices continued…
The 2021 property boom saw property prices rise at an unprecedented rate around the country, with house prices stealing the show, soaring 25.5% while units rose by a more modest 7.7%. But now the property market is cooling, prices are dropping from their peak, lending costs are soaring and demand is declining… and the trend…
Young people are feeling more disheartened than ever about their prospects of owning a home. This is despite falling property prices, according to new research by Finder. In fact, the survey found more than a third (37%) of non-homeowners say they don’t think they will ever be able to afford a home, a substantial increase…