Australia’s home prices have set another record. According to the latest Domain House Price Report, the combined capital house and unit prices experienced another quarter of growth — the fifth consecutive rise for houses and the fourth for units. The report indicates that while the pace of price growth has slowed compared to the previous…
Despite the challenges of cost-of-living pressures and high-interest rates, property prices just keep rising. This trend is driven by a number of factors, including a chronic shortage of new homes at a time of strong population growth, high building costs, and a tight rental market, all of which boost housing demand. The shortage of new…
The school holiday period continues to provide mixed results between capitals although listings remain elevated compared to the same period last year. Auction results around Australia, Saturday April 20th 2024: Capital City This Saturday Last Saturday Auctions Rate Auctions Rate Sydney 528 66.6% 750 71.8% Melbourne 801 69.4% 788 65.7% Brisbane 94 65.6% 67 61.3%…
The housing sector in New South Wales is facing a significant downturn, with apartment constructions plummeting since the introduction of additional taxes in 2017. Tim Reardon, the Chief Economist at the Housing Industry Association, highlights a stark 50% drop in unit commencements compared to previous years. “We’re witnessing apartment starts in NSW revert to levels…
Australia’s housing market has become harder for first-home buyers to access over time. The past two decades saw an increase of around 150% in the CoreLogic Home Value Index nationally, compared with an 82% rise in the ABS Wage Price Index. As a result, the wealth of property owners looking to buy their next home…
National vacancy rates have held steady at 1.0%, unchanged from February 2024 and down slightly from March 2023. The total number of rental vacancies Australia-wide now stands at 31,356 residential properties. Perth and Adelaide continue to record the tightest rental markets across our capital cities with each city recording a rental vacancy rate of just…
![Perth housing market update [video] | April 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2023/03/Perth-city-270x200.jpeg)
Last month’s 0.6% lift in national home values marked the 14th consecutive month-on-month rise, taking the index 1.6% or about $12,000 higher in the March quarter. Since declining 7.5% in the downturn between April 2022 and January 2023, the national home value index has increased by 10.2%, adding approximately $72,000 to the median value of…
![Brisbane housing market update [video] | April 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2020/01/brisbane-270x200.jpg)
Last month’s 0.6% lift in national home values marked the 14th consecutive month-on-month rise, taking the index 1.6% or about $12,000 higher in the March quarter. Since declining 7.5% in the downturn between April 2022 and January 2023, the national home value index has increased by 10.2%, adding approximately $72,000 to the median value of…
![Sydney housing market update [video] | April 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2018/11/sydney4-270x200.jpg)
Last month’s 0.6% lift in national home values marked the 14th consecutive month-on-month rise, taking the index 1.6% or about $12,000 higher in the March quarter. Since declining 7.5% in the downturn between April 2022 and January 2023, the national home value index has increased by 10.2%, adding approximately $72,000 to the median value of…
![Adelaide housing market update [video] | April 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2019/04/adelaide-270x200.jpg)
Last month’s 0.6% lift in national home values marked the 14th consecutive month-on-month rise, taking the index 1.6% or about $12,000 higher in the March quarter. Since declining 7.5% in the downturn between April 2022 and January 2023, the national home value index has increased by 10.2%, adding approximately $72,000 to the median value of…
