This Month in Review

In news this month, CoreLogic’s Cameron Kusher has revealed that 73.6 per cent of properties across Australian capitals sold for less than list price in the past 3 months. This is primarily driven by the Sydney and Melbourne markets, while the proportion of other capitals selling below list price has held firm. Bucking the trend is Hobart, which has seen a reduction in the number of properties selling below list price.

Housing finance data released in November by The Australian Bureau of Statistics (ABS) has shown a further weakening of demand for mortgages in September 2018. Over the month, the total value of housing finance commitments was recorded at $29.1 billion which was the lowest monthly value since August 2014. This is not just due to reduced investor financing ($9.8 billion for September), but a reduction in owner-occupier demand too ($19.4 billion for September).

Housing Industry Association (HIA) principal economist Tim Reardon points to the credit crunch for hindering home buyers and foresees this impact will show up in a building activity slowdown for the first half of 2019.

Debate about negative gearing policy continues, and Property Council of Australia Chief Executive Ken Morrison has called for more information to be available on the potential impact of the proposed policy for renters, investors and homeowners.

Click here for the full infographic and report.

The Market Essentials Report is compiled by Buyside on behalf of Loanscape. Founded by Josh Masters, Buyside are registered buyer's agents with on the ground expertise in the Sydney and Brisbane property markets.

Mar 10, 2024

Borrowing Capacity Index – February 2024

Loanscape has today released its Borrowing Capacity Index for Q2/2024. It shows that the borrowing capacities of Australian individuals and families have stabilised after the sharp decline over the past 2 years. Lower income borrowers continue to be disproportionately impacted by interest rate increases: the family income required to qualify for the average size loan in Australia is 35% higher than 2 years ago.

Mar 8, 2024

Market Essentials - March 2024

Combined dwelling values have re-accelerated across the nation in February, with all mainland capitals soaring in value. It probably comes as no surprise that Perth claimed the top spot by gaining a whopping 1.8% for the month

Dec 8, 2023

Borrowing Capacity Index – November 2023

Loanscape has today released its Borrowing Capacity Index for Q1/2024. It shows that the borrowing capacities of Australian individuals and families continue to decline. The more modest decline in the size of average loans being taken confirms that lower income borrowers are being disproportionately impacted by interest rate hikes: the family income required to qualify for the average loan in Australia is now 32% higher than 18 months ago.

Nov 19, 2023

Market Essentials – November 2023

The end of the year is fast approaching, with most capitals experiencing a strong recovery on dwelling values from the downturn that culminated at the start of 2023.

The recovery is mainly due to an influx of immigration and constricted supply, which the Government is trying to remedy with its ambitious goal of building 1.2 million homes by 2029 through HAFF.

Nov 18, 2023

Market Essentials – October 2023

In this months report, the $10bn Housing Australia Future Fund (HAFF) has finally passed the Senate after the Labor Government struck a deal with the Greens to add another $1bn for public and community housing. The HAFF plans to build 30,000 social and affordable homes in the next five years; though, national spokesperson for Everybody’s Home, Maiy Azize says it won’t solve the existing “shortfall of 640,000 homes”.

Market Essentials – September 2023

In this months news, CoreLogic’s Mapping the Market tool shows rent values rose in over 90% of Australian markets over the last 12 months, with Adelaide and Perth’s suburbs topping the list.

In response, the National Cabinet has introduced new measures to counter the rising housing crisis, including a New Home Bonus, a Housing Support Program and a National Planning Reform Blueprint.

It has also agreed to A Better Deal for Renters, which will streamline renters’ rights across the nation with consistent policies for eviction grounds, rental standards and limits on rent increases.

Finance and Property News and Commentary

Market Essentials - December 2018

This Month in Review

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