The Australian property market continues to demonstrate sustained resilience, with the rate of profit-making sales and number of transactions increasing in the December quarter. Approximately 90,000 resales were analysed by CoreLogic in Q4 2023, revealing that 94% of transactions recorded a nominal gain. The median gross profit also saw an uptick to $310,000, marking an…
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- 7 lessons property investors can learn from our research on timing and property cycles
There was great news on the jobs front recently- Australia’s unemployment rate plunged to a new low of 3.7% in February, but this has raised the question of how well those 13 interest rate rises have worked to slow down the economy and kill inflation. This unexpectedly strong jobs market data has cast doubt on…
It’s official – housing affordability in Australia is at a crisis point. A startling report by the Real Estate Institute of Australia reveals that families are now allocating nearly half of their income to mortgage repayments. Specifically, the average household spends just shy of 48% of their income on home repayments. The latest Housing Affordability…
If a picture paints a thousand words, then this collection of charts should do a pretty good job of painting the landscape as it affects our economy and our property markets. Each month the RBA summarises macroeconomic and financial market trends in Australia by providing a detailed chart pack. World Economy Australia’s economy doesn’t operate…
With property values rising and “re-accelerating” in all major capital cities according to market analysts CoreLogic, and with talk of interest rate cuts on the horizon, the Australian property market is gearing up for strong market this year. Australia’s housing is so horribly undersupplied that I’ve rarely encountered a supply-demand inflection point like this. The…
Weekend auction markets have hosted a remarkable Super Saturday of pre-Easter holiday auctions, with clearance rates remaining relatively steady despite the flood of listings. Auction results around Australia, Saturday March 23rd 2024: Capital City This Saturday Last Saturday Auctions Rate Auctions Rate Sydney 1136 75.3% 836 71.3% Melbourne 1516 64.1% 1290 65.2% Brisbane 130 55.1%…
Despite pandemics, rising interest rates, and challenging supply issues, the Australian property market remains a remarkably resilient, unyielding force, with two out of every five Australians determined to buy a home within the next five years. A recent Westpac Home Ownership Report reveals a surge in home buying intentions – 44% of Australians plan to purchase…
The decision to keep the cash rate on hold at 4.35% came as no surprise, with most economists agreeing the next move on rates will be down. Although the timing of an RBA rate cut remains uncertain and dependent on inflation outcomes. A boost to confidence Nonetheless, the hold decision, alongside lower inflation and a…
The national vacancy rates continued to decrease and now state at 1.0%. From January to February the decrease was by 0.1%. The total number of rental vacancies Australia-wide now stands at 30,161 residential properties, which is a decrease from 32,108 in January. Only Perth and Adelaide remained stable, however, other major cities recorded vacancy rates…
With most economists expecting interest rates to start falling later this year, prospective home buyers might be weighing up whether to buy now for fear of strong competition for stock or waiting until repayments are lower. The financial markets and private sector economists expect the Reserve Bank to start cutting interest rates later this year….