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…
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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….
Australian home values continued to trend higher in April with CoreLogic’s national Home Value Index (HVI) rising 0.6%. This was on par with the pace of gains recorded in both February and March, with the month-on-month rise adding approximately $4,720 to the national median dwelling value. April’s increase takes the current growth cycle into its…
National housing markets have continued to rise over April but growth rates were significantly lower than the strong results reported over March. The national capital city median house price increased by just 0.4% to $1,129,408 over the April quarter compared to the March quarter, according to the latest data from My Housing Market. The national…
Australia’s biggest bank, CBA, has revised its cash rate forecast, reducing the number of predicted RBA cuts in 2024 from three 0.25 percentage point cuts to just one, scheduled for November. This decision comes on the back of stronger-than-expected inflation data from the ABS last Wednesday. Last week, Westpac’s economic team also updated the bank’s…
The continuing holiday period provided generally steady results over the weekend in most capitals, with higher number of seasonal listings remaining a feature of auction markets. Auction results around Australia, Saturday April 27th 2024: Capital City This Saturday Last Saturday Auctions Rate Auctions Rate Sydney 667 72.3% 528 66.6% Melbourne 823 65.2% 801 69.4% Brisbane…
With Australia’s population moving through the fastest rate of growth since the 1950s, our cities and towns are naturally densifying. At a national level, the population density of 3.5 people per square kilometre (sq. km) is among the lowest in the world, highlighting our highly urbanised population where half the populace lives in the three…
Most property investors would give their second garage to know what’s going to happen to interest rates, wouldn’t they? While earlier this year many commentators thought interest rates would fall by the middle of the year, now the narrative is that interest rates will remain higher for longer than we had hoped. Even as wars…
I keep careful track of consumer confidence because it’s a good indicator of what’s ahead for our economy and property markets. And the latest ANZ-Roy Morgan Consumer Confidence report shows it dropped 3.2pts to 80.3 this week to its lowest level so far this year. The index has now spent a record 64 straight weeks…