Housing affordability, supply concerns at record high
Almost half of property professionals responded to a survey that housing supply and affordability are the most critical issues for the federal and state governments, a record high. The latest ANZ/Property Council Survey of 744 property professionals in the June quarter has brought these issues into sharp focus, alongside the necessity to address them. At […]
Aussie auction market drops to three-month low
In what could be a sign of typical winter conditions cementing themselves within the market, CoreLogic is reporting the nation will freeze through its coolest auction week in a while. According to the research firm, the week ending 25 June will see a 4.9 per cent reduction in auction activity Australia-wide, with 1,850 scheduled to […]
‘Mortgage stress’ highest in 15 years: Roy Morgan
New research has revealed that over 1.3 million mortgage holders were at risk of “mortgage stress” in the three months to April 2023, and this figure is expected to climb further if rates continue to rise. Data from Roy Morgan has shown an estimated 1.38 million mortgage holders were at risk of mortgage stress during […]
Which West Australian region was a star in Q1 2023?
Despite facing rising costs and significant building delays, one West Australian regional centre emerged as the top performer during the latest quarter. Real Estate Institute of Western Australia’s (REIWA) data showed Albany recorded a median house price growth of 2.6 per cent in the first three months of 2023, clinching the title as the state’s top-performing regional […]
New home lending rises for the first time in 16 months: ABS
The value of new housing loan commitments grew for the first time in March 2023 since the beginning of 2022 while first home buyers also came back to market, new data revealed. The Australian Bureau of Statistics’ (ABS) Lending Indicators data for March 2023 revealed the overall value of new housing loan commitments rose by […]
Half of NSW postcodes set to face high mortgage risk by May: PEXA
Over 46 per cent of NSW postcodes could spill into the “high mortgage risk” zone next month on the back of rising rates, while repayments for recent borrowers in the eastern states are forecast to spike by around 65 per cent, according to a new report. Digital settlement platform Property Exchange Australia (PEXA) has released […]
Borrower confidence surges amid rate hike pause
Confidence amongst mortgage borrowers spiked in April after the central bank held the cash rate unchanged this month, new data has revealed. The Westpac Melbourne Institute Consumer Sentiment Index showed that confidence amongst respondents with a mortgage lifted by 12.2 per cent in April. However, it is still 14.5 per cent below its level before […]
Revealed: The capital city with the greatest 20-year median house price growth
For years, the biggest capital cities have been dominating headlines with their skyrocketing housing values. But a recent study revealed the city with the biggest 20-year median house price growth isn’t one of the usual suspects. Peter Koulizos, a property academic at the University of Adelaide and a current member of the board of Property Investment Professionals […]
WA puts housing at heart of latest cash splash
The McGowan government recently announced a raft of housing schemes aimed at boosting supply and increasing choice within the state’s embattled property market. Among the initiatives, the Western Australian government launched its $80 million Infrastructure Development Fund aimed at “unlocking affordable housing opportunities” throughout the state, according to Premier Mark McGowan. The scheme aims to […]
Young Aussies willing to buy property with friends
Young homebuyers are not necessarily waiting for a romantic partner to enter the property ladder, with many considering buying a property with someone else, according to new research. Data sourced from a National Australia Bank (NAB) survey undertaken between November and December 2022 with around 300 Australian adults looking to buy a property revealed that […]