Despite rising interest rates the number of Australians unable to make mortgage repayments remains steady, new data has revealed. Amid rising interest rates and inflation, a recent survey has revealed that Australians are experiencing higher levels of financial stress and hardship in the second quarter (Q2) of 2023. NAB’s Consumer Insights report for the quarter ended June […]
There are growing concerns among property professionals regarding access to funds amid economic uncertainty, new data reveals. NAB’s Q2 2023 Commercial Property Survey revealed commercial property market sentiment and confidence have moderated in Q2 2023, following a period of growth in 2022. The survey, which included 350 property professionals, indicated a notable slowdown in activity, […]
The Reserve Bank has called the cash rate for July. The Reserve Bank of Australia (RBA) has decided to hold the official cash rate at 4.1 per cent. This is now the second time the RBA paused the cash rate since it began hiking rates in May 2022, with the previous pause occurring in April […]
The cost of living, return to office life, and shift in priorities highlighted during lockdowns are driving Australian families back to smaller homes close to convenience and community. The cost-of-living crisis has stayed the hand of some prospective buyers and sellers who are waiting for market conditions to change, but for those still out there […]
An undersupply of rental accommodation and an increase in renters is deteriorating affordability, a new report from ANZ and CoreLogic has found. Rental affordability is at the highest level since June 2014, with 30.8 per cent of income required to service a new lease nationally, for a median-income household, a new report from ANZ and […]
The value of Australia’s 10.9 million dwellings totalled $9.5 trillion in April, with values continuing to increase after months of consecutive falls. According to CoreLogic’s Housing Chart data for April 2023, national home values rose 1 per cent in the three months to April, marking the first quarterly lift in home values since May 2022. […]
National home prices rose once again in April, indicating that the price downturn could be drawing to a close. >CoreLogic’s Home Value Index (HVI) recorded an increase of 0.5 per cent in April, following a rise of 0.6 per cent in March after falling 9.1 per cent between May 2022 and February 2023. Home prices […]
The IMF has ranked Australia’s housing market as being the second most high-risk country of 27 countries, which CoreLogic attributes to five reasons. The International Monetary Fund (IMF), which works to achieve sustainable growth and prosperity in financial markets across the 190 member countries, has suggested that Australia is second only to Canada when it […]
While an increasing number of Australians could find themselves in ‘mortgage prison’, chief executive at Finni Mortgages said it’s important to shift the mindset. Despite the Reserve Bank of Australia (RBA) breaking its 10 consecutive rate hike streak in April, the chances of more hikes to come appear imminent. During an address at the National Press Club on […]
Australia’s housing supply constraints are expected to worsen, with a shortfall of more than 100,000 homes over the next five years. National Housing Finance and Investment Corporation (NHFIC) State of the Nation’s Housing 2022–23 research report warned the undersupply of housing is set to worsen as demand continues to outpace supply. The report showed a slowdown in […]