New home purchases rise 5.3%
Australians purchased 5.3% more new homes in February than the month before, according to the Housing Industry Association (HIA). However, HIA chief economist Tim Reardon said this increase was off a “very low” base. Based on the number of new homes being approved for construction and purchased, he forecast there would be a decade-low amount […]
Why rents are expected to keep rising…
Why rents are expected to keep rising… Why rents are expected to keep rising… Rents have increased in most capital cities over the past year and are likely to continue rising throughout 2024, according to a leading property data expert. Between the December quarters of 2022 and 2023, the median rent on realestate.com.au rose 11.5%. […]
Home building approvals trending higher…
More owners and developers are planning to construct new homes and renovate existing properties, according to the latest home building approvals data. In January 2023, only 12,185 building approvals were issued. But after trending higher throughout the year, the number of approvals reached 14,529 in November, an increase of 19.2%. Please contact me before you […]
National property prices rose 8.1% last year…
Australia’s median property price reached a record $757,746 at the end of 2023, after another year of growth. The median price rose 3.0% during the pandemic year of 2020, surged 24.5% in 2021, contracted 4.9% in 2022 and then climbed another 8.1% in 2023, according to CoreLogic. The median price for the combined capitals ended […]
More and more people buying real estate across state boundaries…
An increasing number of property investors are buying interstate, potentially because they’re chasing affordability, diversification or stronger returns. PropTrack has reported that, over the course of this year, 23% of all buyer enquiries on realestate.com.au have come from people based in a different state. That compares to 17% in 2022, 15% in 2021 and 11% […]
Average credit score hits 855…
Despite rising interest rates, Australians have improved their credit score over the past year. The national average credit score rose from 846 in 2022 to 855 in 2023, according to an analysis of more than two million credit scores by credit bureau Equifax. That means the average Australian has improved from ‘very good’ to ‘excellent’, […]
Mortgage borrowing increases 5.6% month on month…
Mortgage borrowing increases 5.6% month on month… Home loan borrowing activity is increasing among both owner-occupiers and investors. Owner-occupiers committed to $17.23 billion of mortgages in October, according to the latest data from the Australian Bureau of Statistics. That was 5.6% higher than the month before and 1.4% higher than the year before. Investors committed […]
