Mortgagors required almost half their income to meet the average loan repayment in the September 2023 quarter, a new report has found. The latest Real Estate Institute of Australia (REIA) Housing Affordability Report has revealed that housing affordability has continued to worsen as borrowers and renters bear the brunt of rising interest rates and soaring […]
National home prices have reached new heights for the month despite rising interest rates and an easing in price growth. CoreLogic’s latest national Home Value Index (HVI) rose by 0.6 per cent in November, marking the smallest monthly gain since the beginning of the current growth cycle in February 2023, however, the national HVI has […]
he latest ABS data on building approvals has revealed a fall in total dwelling approvals for September, becoming the third-lowest month since June 2012. The Australian Bureau of Statistics (ABS) latest data found the seasonally adjusted total number of dwelling approvals fell 4.6 per cent in September to 13,144, following the 8.1 per cent rise […]
There was a drop in dwelling commencements in the June quarter but the total value of building work completed rose marginally, according to new data. Total dwelling commencements fell 11.8 per cent (seasonally adjusted) to 40,720 dwellings in the June quarter, the latest building activity data released by the Australian Bureau of Statistics (ABS) showed. […]
The network CEO has aired some lessons he learned out of the global financial crisis (GFC), not only advising buyers to act but pinpointing some markets that might reward investments. Introducing the brand’s 2024 property report, dubbed Prepare for Take-off, Mr McGrath spoke in terms that framed the Australian property market as both volatile and yet […]
As high interest rates and inflation erode household savings, Australian residential mortgage delinquency rates will continue to rise, according to a new report. The latest data for residential mortgage-backed securities (RMBS) by Moody’s Investors Service revealed that the share of prime quality home loans that were at least 30 days in arrears (30-plus days delinquency […]
From Melbourne apartments to Queensland family homes, investors have sized up the pros and cons of each Australian state. According to the latest Investor Sentiment Survey of Property Investment Professionals of Australia (PIPA), 2023 has been a year of considerable market shifts. In this brave new world of rental freezes, land tax reforms and the lingering effects […]
In its first state budget in a decade, the NSW Labor government has announced a $2.2 billion Housing and Infrastructure Plan, along with rental reform and support for first home buyers. NSW Treasurer Daniel Mookhey presented the 2023–24 budget, the first since the Labor government was elected to power in March. In its budget, the […]
A new report has revealed that housing affordability has declined by almost 14.0 per cent over a 20-year period and 12.4 per cent over the past decade. The Real Estate Institute of Australia (REIA) Housing Affordability Report (HAR) has found that housing affordability declined over the June quarter 2023. With mortgagors continuing to face mounting […]
Housing affordability has declined to its worst level in three decades, PropTrack research has revealed. The PropTrack Housing Affordability Index has revealed housing affordability has dropped to a 30-year low as of June 2023 as a result of surging home prices throughout the COVID-19 pandemic and the Reserve Bank of Australia’s aggressive monetary policy tightening […]