Have we reached the bottom of the market
New data from CoreLogic suggests we might be near the end of the housing downturn. While Australia’s median property price fell 0.1% during February, values then rose in some markets in the four weeks to March 15: That said, it’s too early to call the bottom of the market, according to CoreLogic’s executive research director, […]
First home buyers now need less time to save a deposit…
Over the past year, it’s become significantly easier for first home buyers to save a 20% house deposit, according to new research from Domain. In February 2022, first home buyers needed an average of 5 years 5 months to save a 20% house deposit. By February 2023, that had fallen to 4 years 11 months. […]
Rental vacancies fall by a staggering 34.2%
The rental market has turned decisively in favour of property investors, with the number of vacant rental properties plummeting by one-third over a 12-month period. Between January of 2022 and 2023, the number of rental vacancies across Australia fell from 47,977 to 31,592, a reduction of 34.2%, according to SQM Research. At the same time, […]
National downturn slowing, although conditions vary from city to city
Evidence is emerging that the national housing market downturn, which began in May 2022, is slowing. CoreLogic has reported that the nation’s median property price fell 1.0% in January – the smallest month-on-month decline since June 2022. Meanwhile, while the national median price fell 4.1% in the October quarter, it fell only 3.2% in the […]
How to overcome the deposit barrier
How to overcome the deposit barrier How to overcome the deposit barrier Despite the recent housing downturn, property prices are higher in most parts of the country than before the pandemic. As a result, deposit requirements are higher. Domain compared property prices in the December quarters of 2019 and 2022, and found that buyers needed […]
Rents rise from 4.3% in Canberra to 13.4% in Brisbane
Many property investors enjoyed a big rise in their rental income during 2022. CoreLogic has reported that the median rent for an Australia investment property increased 10.2% during the year. The city-by-city breakdown was: Brisbane 13.4% Adelaide 12.9% Sydney 11.4% Perth 11.2% Melbourne 9.6% Hobart 5.3% Darwin 5.1% Canberra 4.3% During 2022, the national vacancy […]
Growth in residential construction costs expected to slow in 2023
Home building costs continue to rise sharply, but it appears the worst is behind us. Residential construction costs rose 11.9% during 2022, after climbing 7.3% in 2021, according to CoreLogic’s Cordell Construction Cost Index (CCCI). The 2022 result was the largest annual increase on record, apart from the period impacted by the introduction of the […]
