Interest rates back to 2015 levels, but still below the pre-COVID decade average
The RBA took the cash rate another 50 basis points higher at the September board meeting, citing ongoing inflationary pressures amidst tightening labour market. The cash rate setting, at 2.35%, is now at the highest level since January 2015, but still slightly below the pre-COVID decade average of 2.56%.
Regional house prices on track to rise by 20pc this year
The housing boom is far from over in the regions, with prices in some areas expected to rise by another 20 per cent this year as demand continues to outstrip supply, experts say. House prices in some popular regions had already shot up by around 10 per cent since the start of the year, said Nerida Conisbee, Ray White chief economist.
The house prices that are still rising: How inflation is blowing out building costs
Property prices may be falling for the established housing market, but new homes are bucking the trend and have become the canary in the coal mine, as far as inflation goes. Almost every category of building materials has become more expensive.
The Australian city where house prices are growing by Olympic proportions
Brisbane is now the fastest-growing capital city property market in Australia, after house and unit medians skyrocketed 32.1 per cent and 9.3 per cent respectively in just one year. Domain’s House Price Report for the March quarter revealed house prices in the Sunshine State capital rose a remarkable $553 per day to a record $831,346
CoreLogic's home value index shows Canberra house prices are rising yet growth is slowing
Canberra home values have risen again, however growth in the first month of 2022 appears slower than the gains of 2021.
CoreLogic's monthly home value index shows Canberra's median house value reached $1,032,331 at the end of January, following a 1.8 per cent monthly rise.
House prices to jump over 20 per cent, with further growth next year: ANZ
ANZ has tipped house prices to jump by more than 20 per cent this year, lifting its forecasts despite the lockdowns, off the back of the stronger than expected property market.
Property prices are expected to rise 24 per cent in Canberra by year’s end and 23 per cent in Sydney and Hobart.
The RBA is well ahead of its forecasts, so can we expect the same for the property market?
n the final week of January, the ABS released the latest inflation figures for Australia over the December 2021 quarter. Inflation measures the change in the price of a basket of goods over time, and is a good measure of how supply and demand pressures are playing out in the economy.
House prices to rise by 16 per cent over 2021 and 2022: CBA forecast
Australia is on the “cusp of a housing boom”, according to the Commonwealth Bank, which has forecast house prices will skyrocket by a massive 16 per cent over the next two years. An economics issues paper by the bank’s head of Australian economics, Gareth Aird, predicted national house prices would rise 9 per cent rise in 2021 and a further 7 per cent in 2022.
Canberra house and unit rents hit record high, still the most expensive city in the nation: Domain rent report
Canberra tenants are feeling the pinch when hunting for a new rental property, with house and unit rents at record highs and the capital remaining the most expensive in which to rent, new data shows.
According to the latest Domain Rent Report, the median asking rent for a unit reached a record high of $500 per week.
Six things to expect from the Australian property market in 2023
While the stalling property market and fall in prices have characterised 2022, 2023 will see a return to growth, suggests a prominent buyer’s agent.
Along with a return of growth, Buyers Agency Australia Founder Dragan Dimovski has five other major predictions, including a stabilisation in interest rates
The Sydney suburbs where house prices have risen and fallen the most
House prices in outer Sydney suburbs are holding up the best in the city’s property downturn, new data reveals.
Meanwhile, just a handful of suburbs in some premium and inner Sydney pockets recorded house price falls over the year to September as the rest of the city escaped annual price falls.
The latest rental report provides good news for investors but a blow to tenants
The latest Domain Rental Report has revealed that prices have hit a record high throughout Australia, with the strongest annual growth in 13 years.
A few days before this announcement, Stuart Andrews was given notice to leave his family’s rented home of the last four years.
Help to Buy v Home Guarantee: Will either party’s plans help aspiring homebuyers?
Economist Peter Tulip is blunt when asked if either major party’s home buyer incentives will make a difference. “Yes,” he says. “I think they will both do harm.”
The Coalition’s plan is to offer 50,000 people a year the chance to buy a home with a low deposit and avoid lenders’ mortgage insurance.
Sydney house prices hit record high, with median climbing to almost $1.5 million
Sydney property prices have climbed to record heights yet again, with the median house price now just shy of $1.5 million and the typical apartment costing more than $800,000. Greater Sydney house prices jumped about $720 per day over the September quarter to reach a record median of $1,499,126.
Canberra remains most expensive city to rent as market tightens even further
Canberra's notoriously tough rental market appears to have reached new heights after an "exceptionally busy" period over the traditionally quiet Christmas season. The capital's vacancy rate of less than 1 per cent resulted in long lines at open inspections over the weekend, as demand continued to outstrip supply.
Australia’s dwelling sales to new listings ratio hits an average of 1.4 in the three months to July
Dwelling sales continue to surge across Australia against low listings levels. In the three months to July, CoreLogic estimates there were around 171,100 sales. This is 53.4% higher than what has typically been seen this time of year for the previous five years. In the same period, there were just 121,200 newly advertised properties for sale in the three months to July.
‘There’s less hustle and bustle’: Why the Hunter is a haven for young families
From boutique vineyards and white sandy beaches, fresh food trails, the Hunter has earnt a reputation as an in-demand getaway destination. But there's more to this part of NSW than holiday highlights. With its laid-back lifestyle, booming economy and relatively affordable real estate, it’s also attracting attention as an outstanding place to raise a family.
Regional NSW outpacing Sydney for property price growth
Regional NSW is outperforming Sydney’s property market, with an influx of demand from tree- and sea-changers sending prices soaring in popular pockets.
Dwelling prices across the state have risen at almost double the rate of values in Greater Sydney, according to the latest quarterly Domain House Price Report, released on Thursday.
Australia's booming property prices: Comparing house prices from 2016 to 2021
The average Australian property buyer would paid almost $150,000 less if they were in a position to buy five years ago, in just another example of the incredible rise in prices this year.
CoreLogic data analysis from five years ago reveals startling increases in the median values of properties in Australia's capital cities, where the middle-priced home has grown in some cities by more than $200,000.
What does high inflation mean for the Australian housing market?
While inflation has implications for housing demand, housing itself influences inflation. By understanding how inflation and housing fit together, the market outlook for the year ahead becomes a little clearer.
How does the housing market impact inflation?
Historic first home buyer law passes in Parliament
Thousands of first home buyers will now be able to unlock the dream of home ownership sooner following the successful passage of the NSW Government’s historic legislation in Parliament today. For the first time in Australia, first home buyers will be given the choice between paying a smaller annual property fee or a large upfront stamp duty on their first property.
'Optimistic' first-home buyers seek respite from the RBA's interest rate hike
Today's decision on interest rates from the Reserve Bank of Australia holds more weight than usual for indebted homeowners and first home buyers, thanks to Australia's record-high inflation.
Interest rates have remained historically low while Australia's property market experienced its biggest 12-month price jump ever recorded.
National vacancy rates hit record low as affordability starts to impact rent hikes
As Australia’s rental market continues to tighten to record levels, the pace of rental growth has started to ease, suggesting affordability constraints are having an impact. CoreLogic’s Quarterly Rental Review for Q3 2022, released today, shows the national rental index had its smallest monthly increase this year, up 0.6% in the month to September and 2.3% over the September quarter
Top 10 regional property hotspots to watch in 2022
A generational shift towards remote working and the boom in near-city house prices has forced property buyers to expand their horizons to more regional locations. With only occasional commutes into a CBD office, many potential buyers are weighing up the option of choosing lifestyle over location – prompting the boom in what were once considered fringe regional centres.
ACT government's stamp duty reprieve extended for buyers purchasing off-the-plan properties up to $600,000
The ACT government has extended its stamp duty scheme by removing stamp duty from off-the-plan property purchases up to $600,000. It's a step intended to ease the pressure for those looking to buy in the territory's soaring market, which saw prices skyrocket during the pandemic.
Labor agrees to keep Coalition’s stage three tax cuts and dump negative gearing changes
The Reserve Bank is now expecting a firmer economic recovery with monetary policy measures and government stimulus boosting the nation’s economy over the comingLabor will retain the Morrison government’s stage three tax cuts, which predominately benefit high income earners,
In Sydney property boom, more buyers turn to units as record prices push houses out of reach
Sydney buyers are increasingly turning their gaze to apartment living, as soaring prices push their dream of owning a house out of reach. The price gap between units and houses in Sydney is at a record high, with freestanding homes in some neighbourhoods costing quadruple the median apartment price.
Priced-out city first-home buyers turn to ‘rentvesting’ in regional markets
Desperate first-home hopefuls locked out of expensive capital cities are renting in the city and investing in more affordable regional property markets rather than leaving their cash in the bank, buyer’s agents said.
Stunning major-city price growth has caught out many buyers, quickly leaving them behind since the market began to bounce back last year.
April interest rate announcement:
RBA holds rates as experts predict post-election hike
The official interest rate will remain at its historic low of 0.1 per cent, the Reserve Bank board decided at its April meeting on Tuesday. However, a rate rise is likely to come sooner this year than foreshadowed. Everything will depend on the Consumer Price Index (CPI)