A significant percentage of Australians are experiencing housing stress amid a sharp growth in rents and interest rates, according to new research. The national housing campaign Everybody’s Home, launched by a coalition of housing, homelessness, and welfare organisations has released a report (pdf) revealing the impact of the housing crisis on the community. The report,…
Homeowners, Renters Struggling With Housing Stress: Research
July 24, 2023
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A Quarter of Homes in Eastern Australia Purchased Without Mortgage in 2022
June 8, 2023
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Over a quarter of residential properties purchased in Australia’s eastern states in 2022 were mortgage-free, indicating that a significant portion of the population was not affected by interest rate hikes. Property data firm PEXA has released a report that analyses residential property purchases in the states of New South Wales (NSW), Victoria and Queensland between…
Australia’s Housing Market Regains Momentum With Third Consecutive Growth in May
June 1, 2023
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Australia’s residential property market has made a comeback as the national house prices rose for the third consecutive month in May. According to the real estate data provider CoreLogic, the national home value index climbed by 1.2 percent in May, following increases of 0.5 and 0.6 percent in March and April. Prior to this, Australian…
Australia’s Housing Market Regains Momentum With 3rd Consecutive Month of Growth
June 1, 2023
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AustraliaBusiness & MarketsCoreLogiceconomyGlobal Real Estatehome valuesreal estateReserve Bank of AustraliaWorld
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Australia’s residential property market has made a comeback as the national house prices rose for the third consecutive month in May. According to the real estate data provider CoreLogic, the national home value index climbed by 1.2 percent in May, following increases of 0.5 and 0.6 percent in March and April. Prior to this, Australian…
Australian Households Spend Record Levels of Income on Rent
A new analysis has shown that Australian households who do not own their place of residence now have to spend nearly a third of their income on rent, with spending expected to remain high in the near future. According to a housing affordability report by ANZ Bank and real estate data provider CoreLogic, the portion…
Australia’s Rental Crisis Intensifies in the March Quarter
Australia’s rental crisis has worsened in the first quarter of 2023 with rising prices and falling vacancies, adding more pressure on renters across the country. In its latest quarterly rental review, real estate data provider CoreLogic pointed out that national rental prices rose by 2.5 percent in the March quarter, up from two percent in…
Australian House Prices Grow Again After Dropping for 10 Straight Months
Australian house prices have regained their growth momentum in March after falling for ten consecutive months due to the impact of interest rate hikes. According to real estate data provider CoreLogic, national home values climbed by 0.6 percent in March. This is the first positive result following the 8.5 percent drop in house prices since…
Australian House Prices Stabilised in February but Experts Warn Downturn Not Over
The pace of falling house values saw signs of slowing in February, underpinned by low levels of advertised stock, but experts say it is still too early to declare the downturn over. Property researcher CoreLogic reported that its home value index saw the smallest monthly fall in February since rates began rising in May 2022….
Interest Rate Hikes Spur Record Growth in Australian Refinancing
Australia is witnessing the refinancing boom expand further as more and more homeowners switch lenders to cope with the central bank’s current interest rate hike cycle. The total value of owner-occupier refinancing activities across the country broke an Australian Bureau of Statistics (ABS) record when it jumped 9.1 percent to $13.4 billion (US$9.32 billion) in November…
Rental Growth Slows Down Across Australia, but Market Outlook Remains Uncertain
Australia’s housing rental growth is slowing down from record highs in 2022, reducing the pressure on struggling renters. However, housing experts warn that the future outlook of the rental market is uncertain. According to the real estate data provider CoreLogic, the Australian rental market entered the highest upswing period in the company’s 18-year record during…
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