The gap between Australia’s house and unit prices has reached record high in January of 28.3 percent after houses grew almost twice as fast in value over the same period. CoreLogic’s latest monthly market update revealed that units recorded a growth rate of 14.3 percent in the 12 months to January while houses grew 24.8…
Difference Between House and Unit Prices at All-Time High in Australia
February 17, 2022
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Australian Rental Vacancies Reach 16-year Low as Market Heats up
February 15, 2022
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The residential rental vacancy rate across Australia has fallen to a 16-year low as the country looks forward to the reopening of its international borders for tourists after two years of isolation. SQM Research revealed rental vacancy rates fell sharply to 1.3 percent in January, a drop of 0.3 percent from December and 0.7 percent…
Australian House Prices to Fall 10 Percent in 2023 After Interest Rate Rise: Commonwealth Bank
November 21, 2021
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The Commonwealth Bank of Australia (CBA) expects house prices to fall by around 10 percent in 2023 after the official interest rate lifts. Gareth Aird, the head of Australian economics at CBA said a further tightening of macro-prudential policy looks unlikely, and the housing market will see moderate growth over the first half of 2022….
Essential Workforce Hit by Rental Affordability Crisis
August 2, 2021
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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…
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…
Mortgage Stress Falls to Near Record Lows for Australian Households: Roy Morgan
The number of households under ‘mortgage stress’ sharply fell to near record lows in mid-2021 despite the loss of JobKeeper, according to research by market search company Roy Morgan. The latest data, based on in-depth interviews over a rolling three-month period to May, revealed that the number of ‘at risk’ mortgage holders has fallen to…
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…
COVID-19 Accelerates Australia’s Housing Price Surge: KPMG
A new report by KPMG Economics has found the pandemic has caused house prices in Australia to soar, and the effect could last for the next two years until rising mortgage rates and fundamentals of the housing market begin to place pressure back on the market. The report compared housing price changes in capital cities around…
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…
Unliveable Sydney Homes Going for Millions in Australia Housing Boom
SYDNEY—Sydney houses with crumbling walls, shredded ceilings, and bathrooms and kitchens stripped of fixtures are getting snapped up for millions as buyers try to grab a slice of Australia’s soaring property market. Last week, a derelict brick cottage in the city’s northwest sold for A$1.6 million ($1.2 million), a price the real estate agent handling…
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