By Kyle Robbins 30 September 2022 The latest news on the Queensland government’s land tax policy proposal, which was set to come into effect in 2023. The Palaszczuk government has now made the decision to place the legislation on ice. It was first reported by News Corp that the much-maligned legislative, which would have resulted in Queensland property…
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By Kate Aubrey | Mortgage Business As Australia’s annual consumer price index has dropped to a rate of 6.8 per cent in August from 7 per cent the month earlier, economists review their cash rate predictions. According to the latest data released on 29 September by the Australian Bureau of Statistics (ABS), Australia’s consumer price index…
Property Pulse, Research News • CoreLogic As the property downturn spreads across more Australian housing markets, both buyer and seller activity has softened. However, demand for housing finance across owner occupiers that are not first homebuyers (i.e., subsequent buyers defined as upgraders, movers and downsizers) appears to be fairly resilient in the rising rate environment. Using ABS housing finance…
By Stuart Marsh • Senior Producer 7:44pm Sep 16, 2022 Australia’s next interest rate hike could be halved from the usual trend of 50 basis points as property prices dip by at least 10 per cent, the governor of the Reserve Bank of Australia has hinted at in a recent speech. Addressing a parliamentary standing committee on…
Property Pulse, Research News • 07 Sep 2022 Traditionally, spring is a time of fervent activity for the Australian property market as sales and listings increase. However spring 2022 is expected to hit a little differently amid higher mortgage rates, weak consumer sentiment, stretched household budgets and weaker buyer interest. Using the latest data and insights…
The Reserve Bank of Australia (RBA) has raised the cash rate at September’s monetary policy meeting, taking it from 1.85% to 2.35%. Today’s increase follows a 50-basis-point rise in August, July and June and a 25-basis-point increase in May, and brings the cash rate to its highest level since December 2014.
By Annie Kane Up to $575 million will be made available within the National Housing Infrastructure Facility to invest in social and affordable housing, Anthony Albanese has said. Speaking at the conclusion of the Jobs and Skills Summit at Parliament House in Canberra on Friday (2 September), Prime Minister and Labor leader Anthony Albanese committed…
Research News • 01 Sep 2022 CoreLogic CoreLogic’s national Home Value Index (HVI) recorded a fourth consecutive month of decline in August, with the downturn accelerating and becoming more geographically broad-based. Down -1.6% over the month, the national index recorded the largest month-on-month decline since 1983. Every capital city apart from Darwin is now in a…
Research News • 25 Aug 2022 CoreLogic With national dwelling values falling for the third consecutive month, selling conditions across Australia’s unit markets have continued to weaken. Falling a further -0.9% over the month, and -1.4% over the three months to July, national unit values are now -0.2% lower over the year to date. While national…
Property Pulse • 15 Aug 2022 | Core Logic While inflation has implications for housing demand, housing itself influences inflation. By understanding how inflation and housing fit together, the market outlook for the year ahead becomes a little clearer. ABS figures showed the highest annual rate of inflation in June 2022 in almost 32 years. As we head…