CoreLogic analysis suggests servicing a mortgage is now cheaper than paying rent on 36.3% of Australian properties, which is higher than the pre-COVID proportion of 33.9% reported in February last year. The analysis was undertaken at the individual property level, using a set of mortgage assumptions and valuation estimates, to approximate mortgage repayments. These were then compared with…
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As the delta variant of COVID-19 spreads in Australia, and vaccination rates remain low, CoreLogic has released a comprehensive overview of housing market performance through lockdowns. The report uncovers some key elements of housing markets in lockdown to help inform expectations for the coming weeks, including: Auction results across Sydney and Melbourne have remained resilient…
National home values rose 1.9% in June, taking annual growth to 13.5% for the financial year. The growth in Australian dwelling values was led by houses, which rose 15.6% over the year, compared to a 6.8% lift in unit values. CoreLogic Head of Research for Australia, Eliza Owen noted “This is the highest annual rate…
CoreLogic’s Pain and Gain report for the March 2021 quarter found the portion of profit making resales between January and March 2021 increased to 90.3% nationally, up from 89.1% in the previous quarter and the COVID-induced low of 86.0% in the three months to June 2020. CoreLogic analysed approximately 98,000 resales across Australia from…
facebooktwitterpinterest Sydney home sellers are bumping up their asking prices in the middle of a campaign, as the booming housing market and keen buyers encourage them to push higher. Nearly one in 10 sellers are updating their price hopes, although this figure has edged back in many pockets of Sydney since March – a sign that white-hot price…
Real-estate agents have been talking up Enmore – with good reason – for nearly 200 years. The inner-west suburb is named after Enmore House, a grand estate built in the 1830s. The Dictionary of Sydney reports that when the estate was subdivided and auctioned in 1841, the ad described the village of Enmore in glowing terms:…
Nicole Reed, with sister Ashley, and parents Dana and Rodney. Nicole has moved out of home but would be inclined to move back in when it’s time to save for a deposit. Photo: Steven Siewert Why not downsize? For these Sydney homeowners, it’s complicated TAWAR RAZAGHITWITTERJOURNALIST JUN 6, 2021facebooktwitterpinterest Why keep a big family home after adult children…
Federal budget 2021-22: Increasing homeownership on the coalition’s terms Housing affordability is becoming an increasing concern for first home buyers and policy makers amid recent, rapid price increases in housing values. But the double-edged sword of reducing housing values to make them more affordable, is that housing also makes up the majority of Australian household…
The Reserve Bank has warned that a debt-fuelled surge in house prices could leave households more exposed to financial shocks, as it urged banks not to let their lending standards slip. With house prices soaring at their fastest pace since the late 1980s, the RBA on Friday said it was closely watching the property market…
As widely predicted, the RBA has decided to hold the cash rate at a record-low 0.1 of a percentage point. CreditorWatch chief economist Harley Dale said the decision to leave interest rates on hold comes as no surprise. “The official cash rate is at a record low of 0.1 [of a percentage point] and the RBA…