Amid speculation of rising interest rates, the Reserve Bank of Australia (RBA) has made its first cash rate call for 2022. It’s left the cash rate at the record-low rate of 0.1 per cent for February. The RBA’s decision comes amid speculation that higher interest rates would come sooner rather than later – especially following the…
Latest Property News
The property market’s fastest upswing on record, accompanied by a rapid increase in housing credit and highly elevated sales volumes has significantly supported Australia’s post-pandemic economic recovery. CoreLogic’s latest Economic & Property Review explores the major housing market trends to the end of November 2021, providing a national overview of the $9.4 trillion sector’s performance within the…
While rental rates are rising at the fastest pace since 2008, a gap has opened up between the rate of growth in house rents compared with unit rents, with unit precincts across the inner city areas of some capital cities recording a much weaker performance through the COVID period to-date. Overall, unit rents have…
The combined capitals auction market experienced its second busiest week of the year, with 3,562 homes taken to auction. This is up 8.2% from the previous week when 3,292 homes when under the hammer. With volumes remaining high, the combined capitals’ preliminary clearance rate has continued to trend downward for the fifth consecutive week. With…
Australian housing values rose 1.5% in October, a similar result to August and September. However, taking the monthly change out another decimal point shows the market is continuing to slowly lose momentum since moving through a peak monthly rate of growth in March (2.8%). Nationally, the monthly growth rate eased to 1.49% in October from 1.51%…
Rapid growth in Australian housing values and rents over the past year has contributed to greater affordability pressures for households. ABS lending data shows first home buyer finance commitments have fallen -22.8% since January 2021, and rising rent prices have created housing stress for tenants, particularly in parts of regional Australia. Perhaps a more bizarre outcome of the…
CoreLogic’s national home value index rose another 1.5% in September, taking Australian housing values 17.6% higher over the first nine months of the year and 20.3% higher over the past 12 months. The annual growth rate is now tracking at the fastest pace since the year ending June 1989. The monthly change in housing values…
CoreLogic estimates there were almost 598,000 house and unit sales across Australia over the year ending August 2021; the highest number of annual sales since 2004 and a 42% lift on the annual number of sales over the previous 12-month period. Nationally, the number of dwellings sold over the past year was 31% above the…