Unit prices and rents heading north…
Things are looking up for owners of units, whether owner-occupiers or investors. After the national median unit price fell for 10 consecutive months, it increased in both March (0.6%) and April (0.7%), according to CoreLogic. CoreLogic economist Kaytlin Ezzy said this could signify “the start of a slow recovery phase, with inflation seemingly moving past […]
Property prices have now risen in consecutive months…
Australian property prices look to be trending upwards again, judging by the latest data from CoreLogic. After the national median price fell 9.1% between May 2022 and February 2023, it has since risen in consecutive months – by 0.6% in March and 0.5% in April. “Not only are we seeing housing values stabilising or rising […]
ATO orders banks to provide data on property investors…
Property investors have been put on notice, after the Australian Taxation Office (ATO) said it would scrutinise their tax returns in an attempt to claw back an estimated $1.3 billion in missing taxes. The ATO told The Guardian that it would use “formal information gathering powers” to compel 17 financial institutions – including all the […]
Home owners reluctant to list their properties for sale…
The number of properties listed for sale has increased, although this is due to less new listings coming onto the market than existing listings taking longer to sell. SQM Research has reported that 231,039 properties across Australia were listed for sale in February, which was 7.7% higher than the year before. Significantly, though, the number […]
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 […]
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 […]
