For the second month running, the number of new homes successfully exiting the market has risen, according to new data from the Housing Industry Association (HIA). HIA’s most recent New Home Sales report, a monthly survey of the largest volume home builders in Australia’s five largest states, revealed new home sales rose 9.4 per cent during May. […]
Despite temperatures dropping across the country, Australia’s auction volume has increased closer to 2,000, according to CoreLogic. Australia can expect 1,975 homes to head to auction in the week ending 28 May 2023, marking a 2.8 per cent increase on the previous week. Last week, 70 per cent of the nation’s 1,921 auctions ended successfully. […]
A new report showed Australia’s capital cities have recorded the strongest annual rental increase in history, fueled by a surge in overseas migrants and international students as well as a significant shortfall in rental listings. CoreLogic’s latest report showed rents in capital cities have risen on average by 11.7 per cent in the past year, […]
Australia’s housing market may have reached a turning point with house prices in the combined capitals increasing for the first time in a year. While the 10 consecutive months of house price declines may have come as good news for first-time buyers, it had many existing mortgage borrowers watching with bated breath. But the tide […]
Recently welcoming the changes coming to the RBA, the Real Estate Institute of Australia (REIA) has urged the central bank to hold the cash rate steady for now. With the latest figures showing the rate of inflation on a definite slowdown, REIA president Hayden Groves said there’s reason to consider a further pause on rate […]
The next generation of buyers in the property market are gearing up, according to a new report from NAB, and they are exploring strategic ways to “make their money work harder for them”. Almost two-thirds of younger Australians between 18 and 29 years old have placed their savings in a high-interest account, compared to just […]
Not since mid-April 2022 has Australia recorded a more successful auction week than the one just gone, according to CoreLogic. The week ending 26 March 2023 saw 2,292 homes go under the hammer across the country — the second most recorded this year — with 71 per cent of the 1,795 results collected so far […]
Mark Bouris has called on the federal government to allow astute borrowers ahead of their repayments to switch to interest-only payments to stimulate the property sector. Speaking on a recent podcast episode, Mr Bouris shared his belief the Albanese government should do more to reward prudent borrowers by allowing their repayments to shift from principal and […]
Long weekends across half the country have been blamed for declining Australian auction activity, according to CoreLogic. Across the country, 1,282 homes went under the hammer, down 37.6 per cent from the week prior. So far, 1,091 results have been collected, with 65 per cent of them returning a successful result. Last week’s preliminary clearance […]
The portion of income outlaid on weekly rents decreased in the final three months of last year, according to the Housing Affordability Report (HAR) for the December 2022 quarter. The Real Estate Institute of Australia’s (REIA) HAR found the proportion of income needed to service median rents fell 0.1 per cent in the three months to last […]