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 […]
RBA expects inflation to fall in 2023
While inflation continues to be worryingly high, it may have peaked. The Australian Bureau of Statistics’ latest data show that inflation rose from 6.9% in October to 7.3% in November. In early December, the Reserve Bank of Australia (RBA) forecast that inflation would “peak at around 8%” in December. If that’s the case, inflation may […]
