The days on market metric provides an indication as to how quickly properties sold by private treaty are likely to sell. The current data at a national and capital city level shows fairly steady days on market however, we are seeing diverging trends across the individual cities. At the end of 2017, properties sold by…
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There are around 560 Local Government Areas in Australia – broadly local councils. But about 30 of the LGAs account for around half of the dwelling approvals (approvals to build new homes) in Australia. In 2017 there were around 221,000 dwelling approvals granted by local councils. And the major cities of Sydney, Melbourne and Brisbane…
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Sydney’s median house price decreased by 1.9 per cent to $1,167,516 over the September quarter; the steepest decline in house prices of the state’s capital cities. It was the first quarterly fall in the local market since December 2015, said Domain chief economist, Dr Andrew Wilson. “The drop in Sydney’s house prices over the September quarter reflects the…
Sydney has replaced London as the most expensive place to study for international students outside the US, with a monthly cost of $4,700, says a recent Savills report. The strengthening Aussie dollar pushed Sydney higher than London to fourth position globally among the 20 cities examined. London was dragged down by a weaker sterling, according…
When the developer Dyldam launched its South Quarter project at Parramatta – on the former Auto Alley – last month they noted there was especially strong interest from first time buyers amid high local interest. The average off the plan sale price was $750,000 in what will become a $876 million residential mixed-use project on…
STATEMENT BY PHILIP LOWE, GOVERNOR: MONETARY POLICY DECISION At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy are continuing to improve. Labour markets have tightened and further above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy…
The latest RBA Chart Pack that summarises macroeconomic and financial market trends in Australia has been released. It illustrates the data presented to the board ahead of their Cup Day rate decision. The charts includes the owner occupier variable home loan rates over the past decade. https://www.propertyobserver.com.au/financing/interest-rates/77872-three-charts-that-helped-the-rba-make-its-cup-day-decision.html