Record-high mortgage payments were factored into the central bank’s decision to hold the cash rate. The Reserve Bank of Australia (RBA) has released the minutes of the board’s monetary policy meeting from 7 July revealing that the board discussed two options for monetary policy at this meeting, before deciding to leave the cash rate unchanged at […]
Following last week’s activity rebound, CoreLogic is reporting a 7.1 per cent volume increase will occur across the country this coming week. The week ending 26 March 2023 will see 2,384 homes go under the hammer Australia-wide, up from 2,226 the week earlier, which reported a final clearance rate of 64.2 per cent. That was […]
New building approvals fell by 27.6 per cent in January, the lowest monthly level seen since July 2012, with houses recording their fifth consecutive monthly drop. New data from the Australian Bureau of Statistics (ABS) has shown that 12,065 dwellings were approved in January 2023, the smallest number of approvals in over 10 years. While […]
Dwelling prices will fall eight per cent this year and be 15 per cent down peak-to-trough, according to the major bank.According to the Commonwealth Bank of Australia’s (CBA) State & Territory Quarterly Perspective, the housing market will continue to see house price declines over this year and next. CBA’s Dwelling Price Forecasts show that the major […]