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Australia is a nation obsessed with house prices, and according to a recent survey by Westpac Bank 60% of people are planning to buy a property in the next five years. Yet the heartbreaking battle facing first home buyers is getting harder with rents skyrocketing, and last week we reported My Housing Market’s end-of-April figures…
April recorded a 6.4% decrease in nationwide residential property listings, according to the latest data from SQM Research. The total listings now stand at 239,660 properties, a decrease from the 256,000 recorded in March 2024. Notably, all major cities recorded a large decrease in their listings due mostly to the Easter public/school holiday period. Over…
The interest rate outlook has changed remarkably in a short space of time. It was less than two weeks ago that financial markets and many economists were forecasting a rate cut as early as September. With the release of higher-than-expected inflation figures for the March quarter, a new ‘higher for longer’ mantra has emerged. Recall…
Despite the challenges of cost-of-living pressures and high interest rates, property prices just keep rising. All major property research houses confirmed rising values through the month of April and 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,…
The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart . Summary of median weekly rent and value change – data as of April 2024 Region Median weekly rent Monthly change in…
The lending landscape experienced another surge in March, marking the second consecutive month of growth as buyers rushed into the market ahead of anticipated cuts to the country’s official cash rate. According to the latest ABS Lending Indicators seasonally adjusted data, the total value of new home and investment property loans reached $27.64 billion in…
With the April holiday season now concluded, capital city auction markets have continued to report generally stable results to begin May, although higher listings remain a feature of the autumn market particularly in Sydney and Melbourne. Auction results around Australia, Saturday May 4th 2024: Capital City This Saturday Last Saturday Auctions Rate Auctions Rate Sydney…
Nationally, rents were up 0.8% in April, a slightly lower rate of growth relative to February and March when the national rental index rose 0.9% and 1.0% respectively. The slowdown in rental growth is likely to be partly seasonal, with the first quarter of the year generally coinciding with a lift in student demand and…
National home prices have cycled through 16 months of consecutive growth after lifting 0.23% to hit a new record in April, according to the latest PropTrack Home Price Index Report. Prices are now 6.60% above April 2023 levels. Ms Eleanor Creagh, Senior Economist at PropTrack commented: “National home prices hit a new record in April,…
Australian home values continued to trend higher in April with CoreLogic’s national Home Value Index (HVI) rising 0.6%. Beneath the headline numbers, we are seeing multi-speed conditions with the mid-sized capitals continuing to lead the pace of growth. Almost every capital city is recording stronger growth conditions across the lower value range of the market….
