The government’s HomeBuilder grants, handed out during the pandemic, “overheated” the residential construction industry, a review has found. The KPMG review of the HomeBuilder program done on behalf of the Treasury found the up to $25,000 grants for home builders and renovators stimulated the sector as it was intended to do, however, arguably too much. The […]
While total auction activity may be down, it’s forcing more competition into the market, if the latest CoreLogic figures are anything to go by. CoreLogic economist Kaytlin Ezzy has acknowledged that auction activity was down 2 per cent across the combined capitals this week. A total of 1,883 homes were up for grabs in the […]
Queensland had the highest concentration of government guarantees in 2021–22, new data has revealed. More first home buyers have been taking up home guarantee schemes, with some states doubling in proportion from last financial year, according to new data. The National Housing Finance and Investment Corporation (NHFIC) has revealed which states are seeing high uptake […]
The value of owner-occupier mortgages dropped almost 10 per cent in September, according to the Australian Bureau of Statistics. In a month’s time, owner-occupier housing loans fell by 9.3 per cent to $16.8 billion in September 2022 according to the latest Australian Bureau of Statistics (ABS) data. In annual terms, owner-occupier mortgages fell 19.9 per […]
Confidence in the housing market bounced back in the last quarter, as the Reserve Bank of Australia eased back on its bumper rate rises. According to the NAB Property Insight Report, there has been a rise in the number of Australians who said now is a good time to buy, reaching 23 per cent following a […]
Auction volumes are again set to drop this week, disrupted by the annual Melbourne Cup carnival, with celebrations kicking off this weekend ahead of next Tuesday’s (1 November) big race. After last week saw national auction levels rise above for just the third time since June, CoreLogic is predicting activity to fall 8.3 per cent […]
Settlements decline proves Australia’s residential property market’s record run is over, PEXA has said. NSW has led the decline in Australia’s residential sales settlements in both property sales volume and aggregate value, PEXA’s Property Insights Report for the September quarter has revealed. The report, issued by the property settlement and transaction company, noted a marked decline quarter-on-quarter. […]
New figures from Corelogic have revealed that both auction levels and preliminary clearance rates fell marginally in the week just gone. Across the combined capital cities 1,742 auctions were held, down 4 per cent on the 1,815 experienced the week prior, bringing with it a decrease in preliminary clearance rates, which fell two per cent […]
The Real Estate Institute of NSW (REINSW) has criticised the Perrottet government’s strategy of combating housing affordability by implementing taxation. In the eyes of institute chief executive Tim McKibbin, it is counterproductive that the government’s attempts to make “something more affordable” are to “replace one bad tax with another”. Mr McKibbin has levelled his criticisms […]
The Housing Industry Association has released its latest sales report for the month ended in September. The monthly survey by the Housing Industry Association (HIA) — the HIA New Home Sales report — has found that new home sales have dropped by 15.7 per cent in the three months to September when compared to the previous quarter. […]