A new report revealed that while national dwelling prices fell over the latest quarter, house prices in some regions and cities are digging in their heels against the double whammy of rising interest rates and inflation. The latest Real Estate Market Facts report from the Real Estate Institute of Australia (REIA) showed that the weighted average capital city […]
The revelation follows on from the findings outlaid in the Real Estate Institute of Australia’s (REIA) Housing Affordability Report. The report, which found that overall housing affordability worsened during the June quarter — with families needing to spend 38.4 per cent of their income on average to service home loans — also concluded that Western Australia ranked […]
A total of 2,190 auctions took place across Australia’s combined capital cities last week. This figure was up from 1,918 auctions held the previous week and 1,672 that took place this time last year, making it the largest auction week since late June. At this time, CoreLogic is reporting a preliminary clearance rate of 62.5 […]
In just 12 months, land prices in Greater Adelaide went up by 8.5 per cent, reaching $205,000 and a median price per square metre of $465. The latest data, as analysed by Oliver Hume, reveals that the municipalities of Barossa (4.9 per cent growth), Gawler (18.3 per cent growth), Mt Barker (15.1 per cent growth), […]
A report has indicated that one in three out-of-state buyers are inspecting properties in Queensland, with one in four across Australia are looking at properties’ interstate. Virtual tours platform, Little Hinges, released a report entitled Sight Unseen in August 2022 which revealed that interstate inspections continue to make up 25.9 per cent of all property inspections nationwide. […]
This week is shaping up to be the largest auction week since late June, with 2,260 properties already set for sale across the combined capital cities. The beginning of September was a slow start to the spring selling season, with auction volumes down 9.6 per cent in the first week. CoreLogic has noted some progress […]
The Real Estate Institute of Australia’s (REIA) latest Housing Affordability Report highlighted that primary concern for the national housing market is a lack of supply, with the institute’s president Hayden Groves illuminating how “affordability is expected to worsen unless supply constraint is urgently addressed by state and federal governments”. Mr Groves explained that over the new year, […]
The total value of residential dwellings in Australia fell $162.4 billion to $9.98 trillion this quarter. The latest data from the Australian Bureau of Statistics (ABS) showed the mean price of residential dwellings fell $18,900 to $921,500 over the three months to June. This equates to a valuation drop of approximately $6,300 a month or […]
The chief executive of The Property Mentors, Luke Harris, said that while there is strong interest in property and the passive income that it can offer, it can be difficult for first-time investors to pinpoint where the starting line is. He also emphasised that investors looking to build a property portfolio “from scratch” will find […]
We are all familiar with the good old-fashioned “Australian dream” — the concept of owning a freestanding home in the suburbs. However, over many decades as the property market has been swayed by the economy and, more recently, the pandemic, the Australian dream has been forced to evolve with it. In recent years, a drastic […]