Our commentary on issues important to home owners, investors and borrowers
As the year starts to take hold, the national property market is likely to continue to “peter out” over the year, according to researchers at Deloitte, who say tighter lending and expected higher interest rates will start to bite.
Read MoreOver half of Australian house hunters spend the same amount of time inspecting a property as they do watching an episode via Netflix, according to new research by ME Bank.
Read MoreSome 24.6 million people live in Australia. Our population is growing by 400,000 people per year. But where are they going? Michael Matusik summarises ABS Census data to show which cities are seeing the most growth. This has implications for the property market in those areas.
Read MoreMost of Australia’s capital cities have started the year on the right foot, outside of Sydney and Melbourne, where average growth has started to plateau after years of exceptional gains.
Read MoreWe get a steady flow of questions from those who read our research, or follow our posts, but one question, more than any other we get asked is – Should I Buy Property Now? Many cite the real estate industry claims that now is a great time to buy – but is it really?
Read MoreA senior economist has called for state governments to remove “inefficient” stamp duty taxes in order to ease housing affordability issues.
Housing Industry Association (HIA) senior economist Geordan Murray believes that state governments should remove stamp duty, adding that first home buyers would benefit most from the move.
Read MoreLoanscape is your information resource about lending and property.
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
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.
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.
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”.
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.
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.