The property analysis outfit has reported that the current trend for Australian home values mirrors rates observed during the 2008 global financial crisis. According to the latest Corelogic Home Value Index (HVI) for July, there was a 1.3 per cent decline in Australian dwelling values nationwide. This was buoyed by value declines in Sydney (-2.2 […]
Australia’s property prices are set to decline by 15 per cent over the next 18 months, according to a new PropTrack analysis. The forecast comes from the PropTrack Property Market Outlook July 2022 report — a biannual analysis of the residential property market, which also comes with an outlook for the year ahead. According to Cameron […]
Over 41 per cent of housing across the country lost value during the three months to June, according to new CoreLogic figures. According to this latest report, Australia’s property market downturn continued to pick up pace during the latest quarter, as more markets feel the sting of the consecutive rate hikes, rising inflation, and weaker […]
The major bank has revised its cash rate forecast, now expecting the Reserve Bank to hike rates to 3.35 per cent by November. Under this revised outlook, ANZ has said that the Reserve Bank (RBA) will introduce four-consecutive, 50-basis point (bp) bumps between now and November’s cash rate decision. The cash rate will remain at […]
While the RBA deputy governor warns Australian borrowers pose “potential risks” to the financial sector, ballooning assets may buffer any financial risks. In her first major speech since being appointed in April, Reserve Bank of Australia’s (RBA) deputy governor Michele Bullock told the Economic Society of Australia that while indebted homeowners posed more risk to the […]
The number of Australians who thought now was a good time to get a mortgage fell to one-in-five in Q2. According to new data from NAB, just 18 per cent of Australians think now is a good time to buy a home – down from 23 per cent in the first quarter of 2022, marking […]
Several lenders have announced interest rate rises on mortgage and savings rates, following the central bank’s decision to raise the cash rate by 50 bps. On Tuesday (5 July) the Reserve Bank of Australia (RBA) announced at its monetary policy meeting it will increase the cash rate by 50 bps to 1.35 per cent. Following the move, […]
Following its monthly monetary policy meeting today (5 July), the Reserve Bank of Australia (RBA) has announced that it will increase the cash rate by 50 basis points (bps). The move is the second 50-basis-point hike in a row and follows the 25-bp hike in May, taking the official cash rate to 1.35 per cent. The RBA’s […]
Both auction activity and preliminary clearance rates dropped drastically nationwide last week, continuing a downward trend. Across the combined capitals 1,864 homes went under the hammer, down from 2,364 the week prior, preliminary data from CoreLogic showed. According to the Property Market Indicator report from CoreLogic, of the 1,453 results collected so far, just 55 per cent […]
A record number of Australians spent $1 million or more to secure a home in the past year, according to new CoreLogic data. CoreLogic’s annual Million Dollar Markets report has revealed that just under a quarter (23.8 per cent) of the 596,733 home sales that took place over the year to March 2022, went for more than $1 million. The figure marks […]