April - 2021

Two-speed rental market: Tenants offer up to $100 more a week to secure properties as moratoriums li

Two-speed rental market: Tenants offer up to $100 more a week to secure properties as moratoriums li

Tenants in some capital cities are offering up to $100 a week in extra rent to secure sought-after rental properties, as eviction moratoriums end amid the country’s two-speed rental market. Some landlords are also taking the opportunity to raise their asking prices as crisis-era bans on rent hikes expire. Although tenants are in the driver’s seat in major capital cities such as Sydney and Melbourne – which were hit hard by the loss of international students and with elevated

How Current Housing Value Highs Stack Up by Eliza Owen

How Current Housing Value Highs Stack Up by Eliza Owen

Low mortgage rates, a swift economic recovery—which has spurred consumer sentiment—and low listing volumes have catapulted national housing values to record highs. At the end of March, the Corelogic national home value index increased a further 2.8 per cent, placing values 5.6 per cent above the previous market peak in October, 2017. The combined value of Australian dwellings hit $7.9 trillion during the month, according to Corelogic. This cements residential property as an e

Australian Homes Selling in Record Time by Renee McKeown

Australian Homes Selling in Record Time by Renee McKeown

Homes across the country are selling faster than any time on record as demand continues to exceed supply. During March, properties in Canberra were taking the least amount of time to be sold (25 days), followed by New South Wales (27 days) and Victoria (30 days), according to the latest housing market indicators report by the REA Group. These figures were twice as fast as sales times recorded in early 2019. Nationally, the rate was just 48 days, compared to 71 days in June, 2

HomeBuilder Rush Lifts Construction Activity by Ted Tabet

HomeBuilder Rush Lifts Construction Activity by Ted Tabet

Builders are struggling to meet strong growth in demand nationally, triggered by HomeBuilder and state incentive payments, even as apartments, commercial and infrastructure remain subdued. The Ai Group/Housing Industry Association performance of construction index lifted by 4.4 points to 61.8, above the benchmark 50 level—indicating growth—to be the strongest monthly result in the index’s history. “Activity is being driven to new heights by a combination of the HomeBuilder pr

Stimulus, Interest Rates Sends House Prices into Overdrive

Stimulus, Interest Rates Sends House Prices into Overdrive

Australian housing prices have grown by more than 500 per cent during the past 25 years. According to data from REIA, capital values have lifted from $160,000 in 1996 to $825,000 in 2020. Housing prices spiked by 25 per cent in the past five years, from a median of $683,000 to $825,000, while other dwellings rose by 10 per cent to $600,000. During the 25 years, Australian housing yields tightened from 5.1 per cent to 2.9 per cent while other dwellings recorded a drop in yield

BY TARYN PARIS Reserve Bank Policy Underscores Strong Economic Recovery

BY TARYN PARIS Reserve Bank Policy Underscores Strong Economic Recovery

Australia’s central bank will maintain low interest rates to support the country’s ongoing economic recovery and surging housing market, buoyed by its busiest Easter auction market on record. Reserve Bank of Australia governor Philip Lowe said the recovery was well under way and had been stronger than forecast with a drop in unemployment to 5.8 per cent in February. He said the “above-trend growth” was expected to continue into 2021. “Housing markets have strengthened further

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