Australia continued to see a downward trend in home values in November, but the pace of decline also slowed down, with the smallest monthly drop recorded since June. According to the latest home value index from real estate data provider CoreLogic, house prices across Australia fell by one percent on average in November, down from…
Sydney to Overtake Canberra as Most Expensive Rental Market in Australia
Sydney is on its path to replacing Canberra as the most expensive city for renters in Australia due to an increase in demand for rental properties as migration is picking up. According to the real estate data provider CoreLogic, Canberra was the only capital city to see a drop in rents in the September quarter,…
Australian Rents Grew at Fastest Quarterly Pace, Expected to Climb Further
October 6, 2022
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Rents in Australia rose at the fastest quarterly pace over the three months to September and are set to continue climbing, according to the latest PropTrack Market Insight Report. Median weekly rent prices rose 4.3 percent over the September quarter, following a 2.2 percent rise in the previous quarter. Advertised rental rates also grew 10.3…
Australian Housing Prices Continue 5th Consecutive Month of Decline
October 2, 2022
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Home values across Australia dropped for the fifth month in a row in September as interest rate hikes continued to affect the housing market. According to real estate data provider CoreLogic, its national home value index fell 1.4 percent in September, following a 1.6 percent decrease in August. Among the capital cities, Sydney saw the…
Australian Unit Values Falling at Fastest Rate in 40 Years: CoreLogic
September 27, 2022
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The value of units across Australia’s capital cities is falling at a faster rate than what was seen during the onset of the Global Financial Crisis (GFC), according to property researcher CoreLogic. Since its peak in April, units in capital cities have fallen around 2.7 percent, or around $17,500 (US$13,000). In August alone, capital city…
Housing Downturn Spreads Across Australia as Home Values Tumble in August
Australian housing values fell for the fourth consecutive month in August as interest rates continued to hike, marking the sharpest drop in nearly four decades. According to real estate data provider CoreLogic, national home values dipped by 1.6 percent to $738,321 (US$500,000) during the month, with the downturn observed in every capital city except Darwin….
Australian Housing Rents Soar Along With Interest Rates
Annual growth in housing rent in Australia has reached a 14-year high, making life more difficult for renters across the country at a time when interest rates continue to hike. According to CoreLogic’s Quarterly Rental Review, the national rental index grew by 0.9 percent in the month to June and 2.9 percent in the June…
Australian Housing Market Softens Because of Interest Rate Rises
Australian national house prices have dropped for the first time in nearly two years as economists said rising interest rates started to impact the housing market. The CoreLogic home value index dipped by 0.1 percent in May, the first fall recorded since September 2020. This was attributed to the monthly losses in Sydney and Melbourne-Australia’s…
‘Rapid Decline’: New Zealand House Prices See Largest Quarterly Drop in Over a Decade
New Zealand (NZ) property prices have experienced their largest quarterly drop in over a decade as the market further weakens, shifting power to buyers. The QV House Price Index reveals that the average home decreased in value by 0.6 percent over the three months to March. This has brought down the average annual growth from…
Brisbane Flooding Will Hit Property Prices but Difficult to Predict Long-Term: Experts
March 6, 2022
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House prices in flood affected areas of Brisbane will take a short-term hit, but it was difficult to predict how the market would behave in the medium to long-term. Antonia Mercorella, the Real Estate Institute of Queensland (REIQ) CEO, told The Epoch Times that while property prices would take an immediate hit, it was unlikely…
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