Australian households are wealthier than ever. Australia’s property prices increased at a record pace in 2021 with recent data showing that the national median house price surged 25.7% and units by 7.7% year on year. And it was this price surge, combined with solid share market gains, which has pushed total Aussie household wealth up…
Over the past 30 years, Australia’s economy has faced financial reform, commodity booms, a global financial crisis, and most recently, the Covid-19 pandemic. But in spite of all these significant events, our property market continues to strengthen to today’s record high. According to the Aussie Progress Report, which was commissioned by Aussie and developed by…
New research from Canstar reveals that 11 million Australian adults are worried they will be unable to afford household bills amid skyrocketing living costs. Housing costs including rent or mortgage repayments were cited as the biggest concern. And 72% of borrowers will need to forgo certain expenses to afford higher loan repayments. The effects of…
Vocal market commentator and fund manager, Chris Joye wrote in the AFR in November last year that Australian house prices could fall by 15% to 25% after the RBA starts increasing interest rates (here’s a copy of that article). Of course, there are many property doomsayers that perpetually (and often inaccurately) predict property market crashes….
While some bank economists are predicting that house prices will fall this year or in 2023 as interest rates increase, I’d like to explain why property prices will continue to rise. Economists are concerned that the Reserve Bank will soon raise interest rates to slow down inflation because inflation is very hard to reign in…
The 2021 property boom saw prices rise at an unprecedented rate around the country. Yet it was house prices that stole the show, soaring 25.5% to a new national median of $1,066,133 while units a more modest 7.7% to a national $621,880 median, according to recent Domain data. While prices rose across the board, the…
Australia’s property prices increased at a record pace in 2021 with Domain’s latest quarterly house price report showing that the national median house price surged 25.7% and units by 7.7% year-on-year. But some suburbs outshone the rest. While the median house price in Sydney rocketed 33.1% to a new $1,601,467 median, those numbers were absolutely…
It’s well known that Australia’s property prices have had a bumper couple of years, with the national median house price surpassing $1 million for the first time in the final quarter of 2021. But it’s not just sale prices that are surging – rental markets in some suburbs are also hitting the spotlight. In fact,…
Amid record house prices, rising demolition fees, and surging construction costs a new trend is emerging: free houses. Just last month, the owner of a 4-bedroom house in Kirrawee in Sydney’s Sutherland Shire advertised their property for free. But there’s a catch. It doesn’t come with the land it sits on. The 60-year old house,…
What will be happening to the inflation level throughout 2022? Will wages growth be sufficient this year? How will the Russian-Ukrainian confrontation affect the economy? What will be the dynamic of Australian home prices in the foreseeable future? These and other questions were raised and answered by Dr. Shane Oliver, Head of Investment Strategy and…