The expected end of interest rate hikes could soon see the property market rebound. The residential property market has been cooling off from the lofty heights reached in the late stages of the pandemic, falling 2.3 percent in the year to November. Capital city prices have led the drop-off, falling 5.2 percent in 12 months,…
Rezoning Could Create 70,000 Homes in New South Wales
Up to 70,000 new homes could be built in Australia’s most populated state New South Wales (NSW) as new areas are rezoned, with the NSW premier saying he’s “throwing everything at getting more houses built” as the cost of living continues to bite. “Working with councils, rezoning is one important lever that we are pulling…
Australia’s Home Value Downturn Continues to Ease in November
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…
Greens Call Federal Government’s Housing Accord a ‘Complete Con’
November 28, 2022
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Affordable HousingAustraliaaustralian housing marketBusiness & MarketseconomyGlobal Real EstateInternationalJim Chalmerspersonal financereal estaterecessionsocial housingWorld
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The Greens party have accused the federal government of hustling Australians after an analysis by the Parliamentary Library alleged that only 2.02 percent of the one million homes promised under the National Housing Accord would be affordable. The National Housing Accord, announced on Oct. 25, by Treasurer Jim Chalmers, is a landmark agreement between the…
New South Wales May Be on Cusp of Stamp-Duty Reform
The New South Wales (NSW) premier has told the opposition to “get out of the way” as his signature reform to give first-home buyers more choice edges closer to becoming reality. Legislation to give first-home buyers the option to choose between paying an annual land tax or a larger one-off stamp duty payment on all…
Australian House Prices Fall for Sixth Consecutive Month in October
Home values across Australia have experienced their sixth consecutive drop in October, with Brisbane leading the downward trend. According to real estate data provider CoreLogic, national dwelling values dipped another 1.2 percent in October, following a 1.4 percent drop in September and a 1.6 percent decrease in August. House prices in Brisbane dropped at the…
Can’t Afford a Home in the US? Experts Share Their Top Tips Before Investing Overseas
It’s no secret among Americans that many would-be homebuyers have been priced out of the market due to rising mortgage interest rates and persistent inflated listing prices. Some are now considering more affordable options abroad, but experts are warning potential buyers to do their homework before shelling out their savings for the American Dream overseas….
Building on Floodplains Over: Leaders
Governments have called an end to housing developments on floodplains as a major buyback scheme is unveiled for people affected by catastrophic flooding in the New South Wales (NSW) Northern Rivers. The $520 million (US$335 million) buyback scheme is the centrepiece of an $800 million package co-funded by the NSW and federal governments to give…
Real Estate Body Shoots Down Calls for Public ‘Landlord Register’
October 13, 2022
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Antonia MercorellaAustraliaBusiness & Marketseconomic policiesGlobal Real EstateInternationalQueenslandreal estateREIQWorld
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The Real Estate Institute of Queensland (REIQ) has criticised a proposal to create a “landlord register” that will tell the public how many properties an owner may have and their place of residence. The proposal, put forward by Tenants Queensland, argues that such a system would balance out a supposed imbalance of power between landlords…
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,…
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