18.5% growth: Will Australia’s lockdowns slow house prices?
If you were hoping house prices might come down as a result of the lockdowns engulfing half of Australia, don’t hold your breath. NAB has predicted that property values will rise by 18.5 per cent in 2021, and this number isn’t being scaled down in light of the lockdowns. “In terms of house prices, they held up pretty well through last year and also even through some of the more recent lockdowns. So we haven't factored in a huge impact on prices,” NAB senior economist Gareth S
PEAKS HEAD NORTH?
I have undertaken a lot of consultancy work on the Gold Coast over the past three decades – yes, I have been doing this stuff for that long! – and as part of recent project advice commissions we have been asked about the long term housing cycle and the interplay between Sydney and Gold Coast dwelling prices. So, this post I unpack the past and give my two bobs worth on what I think will happened on the Gold Coast over this property cycle. Four charts are included. Charts 1 an
Timber supply can't keep up with demand as housing boom comes after Black Summer bushfires
The federal government is being urged to intervene in the national timber industry, as the construction and forestry union forecasts the sector will not be able to meet demand fuelled by the national construction boom. The Commonwealth's HomeBuilder program, which provides grants for people building or renovating homes, is being cited as one of the main drivers of construction activity across the country. The coronavirus pandemic has fuelled a desire in many Australians to se
Australian dwelling values finish the financial year 13.5% higher, but a loss of momentum is clear
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 of growth seen across the Australian residential property market since April 2004, when the early 2000’s housing boom was winding down after a period of exception
