We know that Australian house prices rose 6% during the 12 months to June 2022. And the just released (June) official lending statistics suggest that house prices could now rise by 4% for the year ending September 2022. For the rest of the year, we are forecasting a 1% fall in median house prices across…
Australia’s property prices fell further again throughout the nation in July as higher borrowing costs and fast-rising interest rates drive down demand. Across the country, property prices dropped another 0.43% in June to a new $751,000 median, and are now 1.66% below their peak, according to the latest PropTrack Home Price Indicator report. Prices continued…
Australia’s property prices fell further throughout the nation in June as higher borrowing costs and rising interest rates weighed heavily on the market. Nationwide, property prices dropped another 0.25% in June to a new median of $716,000, according to the latest PropTrack Home Price Indicator report. Prices continued to decline in Sydney (-0.40%) and Melbourne…
Soaring house prices in New South Wales in recent years have provided homeowners and investors with the quickest and sharpest equity boost in history. A year ago, house prices were rising 46 times the current pace, and at the same time unit prices were also increasing – this indicates that Sydney’s steepest upswing on record…
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…
Australia enjoyed a “once in a generation” property boom over the last couple of years where the value of most properties increased by 20% in many cases up to 30%. However recent Proptrack data revealed that the median house prices increased by 100% or more in 96 Aussie suburbs. Sunshine Beach in Queensland ranked as…
Boy has our property markets had a lot to contend with so far this year. A pandemic, floods, Geopolitical problems, rising interest rates and a federal election just to name a few. While up to now the capital city housing markets have held their own, the latest data from My Housing Market reveals that Sydney…
While the property pessimists out there will give many incorrect reasons why we can expect an impending property market crash, there is one thing that continues to underpin and strengthen property values – the number of first home buyers entering the market. Thanks to the latest government initiative to help first home buyers step on…
We’re currently facing a real rental crisis with historically low vacancy rates and soaring rents. Domain’s quarterly Rent Report reveals that house and unit rents have continued to climb across Australia over the last quarter (January – March 2022), putting additional pressure on Australian renters. Although house rents have hit a new record high, unit…
While Australia’s property market started strongly in 2022, despite concerns about a cash rate increase and the continuing Covid-19 Omicron outbreak, it’s clear that price growth has now slowed across the country. Interestingly, the shift has seen a divide opening up between the suburbs where prices are plateauing and those which are still on the…