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 analysis from CoreLogic has found that a staggeringly large portion of Australia’s 3,027 capital city house and unit markets experienced value declines during the September quarter. The research body’s “Mapping the Market” dataset for the third quarter of 2022 found that 79.5 per cent (or 2,405) of the country’s house and unit markets experienced […]
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 […]
A small group of borrowers could fail to meet debt payments due to low savings and high levels of debt, the RBA has flagged. The Reserve Bank of Australia’s (RBA) latest Financial Stability Review has provided a somewhat bleak assessment of the financial system’s current condition and potential risks to financial stability. In essence, it […]
According to CoreLogic’s latest Property Market Indicator Summary, there were 1,613 homes taken to auction across the combined capital cities during the week ended 2 October. That’s up 22.6 per cent from 1,316 over the previous week and 1,986 this time last year. This week’s preliminary clearance rate of 62.3 per cent is an improvement […]
The RBA has flagged more options are on the table for the next cash rate hike in October. The Reserve Bank of Australia (RBA) will continue to lift interest rates until it is confident that higher inflation will not become entrenched, the governor of the RBA, Philip Lowe, told the House of Representatives Standing Committee […]
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), […]
The March quarter saw migration into regional centres from capital cities increase by 16.6 per cent, with this trend largely driven by young Australians. New research from the Regional Australia Institute (RAI) has found that a large portion of Australians migrating regionally were Millennials (aged 24 to 40 years old), with affordability a defining factor […]
The NSW government has announced a moratorium on evictions for the next six weeks as the state battles through lockdowns.