Essential care and service workers are facing a rental crisis in Australia as an analysis found that rent has risen to over one-third of workers’ weekly income in a majority of the country’s geographical regions. Affordable housing campaign group, Everybody’s Home, cross-referenced SQM Research rent data with the basic hourly wage of workers in disability…
Essential Workforce Hit by Rental Affordability Crisis
August 2, 2021
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Median House Price Pass $1M in 3 Australian Capital Cities, Over $1.4M in Sydney
The median house price for Sydney is racing towards $1.5 million, while two other Australian capital cities have also passed $1 million (US$740,000), according to figures released on Thursday. The Domain House Price Report for the June 2021 quarter revealed that the Sydney median house price had reached over $1.4 million (US$1m) after rising an astonishing 8.2…
It’s Cheaper to Buy Than to Rent for Over a Third of Australian Properties
July 16, 2021
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Buying is now cheaper than renting in over one-third of Australian properties, aided by eight months of record low-interest rates, property researcher CoreLogic found. The company’s analysis showed that it is cheaper to repay home loans than to rent for 36.3 percent of Australians properties, up from the 33.9 percent reported in Feb. 2020. CoreLogic…
Australian Housing Market Continues Upward Surge but Is Showing Signs of Slowing
Property researcher CoreLogic has found Australia’s residential home market has grown at the highest annual rate in 17 years, leaving dwelling values 13.5 percent higher than the end of the previous financial year. “This is the highest annual rate of growth seen across the Australian residential property market since April 2004, when the early 2000’s…
Home Building Surges, Leading Economic Recovery
Residential construction work has resurged on the back of low-interest rates and government incentives, leading the economic recovery and setting a solid foundation for upcoming economic figures. The Australian Bureau of Statistics revealed in preliminary data that the total value of residential construction work rose by 5.1 percent in the March quarter— the equivalent of…
Housing Affordability Problems Drive More Australians out of the City
May 11, 2021
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The falling affordability of homes may lead to a second wave of growth in the Australian regional housing market as buyers are pushed out of the cities to cheaper, regional areas. CoreLogic head of research Eliza Owen told The Australian that since most capital cities were sitting at record high prices, movement to the periphery of…
Australian Rents Rise at Fastest Rate in 15 Years
The Australian rental market has risen at the fastest pace since May 2007, with the national rental rate up 3.2 percent over the first quarter of this year, property researcher CoreLogic found. However, Corelogic’s research director Tim Lawless said the growth was uneven, and the “headline reading hides the sheer diversity” of market conditions around…
Battle for Orange County’s CoreLogic Leads to Private Equity Takeover
February 8, 2021
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Commentary Irvine-based CoreLogic Inc. (NYSE: CLGX) is being purchased by two private equity funds for about $7.7 billion, a figure that includes about $6 billion—or $80 per share—buyout for current stakeholders. The purchase price also includes $1.7 billion in debt owed by CoreLogic. The acquisition will be funded with $2.5 billion already invested in the…
Australian Regional Property Markets Racing Ahead in Profits
A new report by property researcher CoreLogic has found that the property market in rural and regional areas experienced a boom in the last financial quarter. The latest Corelogic Pain and Gain report found that just over 88 percent of housing sales made a gain in the September quarter, translating into $24.8 billion in profits. This was…
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