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 […]
Just one Aussie region maintained its market resilience over the last month. Regional South Australia remained the only area across the country to remain resilient to value declines, according to CoreLogic’s latest Home Value Index (HVI), as values in the region rose 0.1 per cent. October marked the sixth consecutive month where the research body’s […]
The Reserve Bank of Australia (RBA) has handed down its penultimate cash rate decision for 2022. Lifting rates once again for the seventh consecutive month, the RBA has made the decision to lift the cash rate by 25 basis points to 2.85 per cent. At the end of October, Westpac was forecasting a 0.5 per cent […]
A steep rise in rents coupled with lower property prices presents opportunities for investors, a new report has discovered. According to the inaugural National Australia Bank (NAB) Market Megatrends report — which combines analysis from property research house CoreLogic — rent values rose 10 per cent in the year to September 2022, while gross rental […]
The fixed rate expiry bubble — which is fuelling the refinancing boom — will continue until July 2023, a new report has predicted. Refinancing is booming and this trend will continue as long as interest rates rise and a large number of fixed rate home loans reach or approach their expiry dates, according to the […]
The central bank has warned that a small group of borrowers could fail to meet debt payments due to low savings and high levels of debt, leading to higher arrears. The Reserve Bank of Australia’s (RBA) Financial Stability Review for October 2022 has revealed that higher interest rates will increase borrowers’ debt payments. Households have […]
Costs rose by the highest annual rate since the introduction of the GST with little reprieve expected for the construction industry and consumers, the property research house said. CoreLogic’s Cordell Construction Cost Index (CCCI) for the third quarter of 2022 showed that national residential construction costs surged by 11 per cent over the 12 months […]
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 […]
With the second government of the year comes the second federal budget for 2022; here is how the first budget of the Albanese government impacts the property sector. In what he described as a “solid and sensible” budget that aims to provide relief from cost-of-living pressure, Federal Treasurer Jim Chalmers announced additional commitments to the […]