Property is a reliable case study of how a market responds to varying economic factors. Whether you are a buyer or seller, the dynamics that influence real estate rarely change – confidence in the economy, perceptions of job security, mortgage costs, and supply and demand. Right now, we're seeing buyers pivoting as they grapple with high mortgage rates combined with strong value...
The Reserve Bank of Australia (RBA) has kept interest rates unchanged at 4.35% for the eighth consecutive meeting, marking one year since the last rate hike. While inflation has eased to its lowest level in nearly four years, the RBA believes it remains "too high" and requires restrictive policy to bring it further down. Inflation and Economic ForecastsDespite inflation's drop to 2.8% in the...
For the 19th consecutive month, Australian property prices recorded value growth despite continuing high interest rates and an economy showing slightly higher unemployment and weakening fundamentals. Leading industry researcher CoreLogic said values were up a further 0.5% month-on-month in August, delivering a rolling 12-week growth rate of 1.7%. The market has been unable to sustain the pace of...
Perth recorded the highest percentage increase in the median sale price for three-bedroom houses among all capital cities in the June 2024 quarter, according to the latest REIA Real Estate Market Facts. The median price for three-bedroom houses in Perth rose by 6.5%, reaching $735,000. Despite this growth, Perth remains one of the most affordable capital cities based on median house prices. Adelaide...
Reading and interpreting market moves is a challenging occupation when figuring out whether it's a great time to buy and sell property.One minute prices are buoyant, the next reports are swirling about the heat coming out of the market. And then there's the Reserve Bank of Australia (RBA) teasing us with the hope of a spring cut in interest rates for months, only to now say we may have to...
The strength of the Australian residential market continues to power ahead, registering value growth for the 16th successive month. Home values increased 0.8% in May, which is the largest monthly gain since last October. The mid-sized capitals are leading the way. The three hottest cities right now are Perth (+2% in May alone), Adelaide (1.8%) and Brisbane (+1.4%). According to...
When planning to sell your home, it's natural to want to understand the health of the real estate market and the likelihood you'll achieve the desired price for your property. Yet, for many owners, today's marketplace is difficult to read. Currently, we have high interest rates as the Reserve Bank of Australia continues to put pressure on post-Covid inflation, and still home...
The question of how much foreign buyers influence the Australian property market can be controversial with claims their participation bolsters prices and worsens housing affordability for ordinary Australians. New research by PropTrack, part of the portal realestate.com.au, has recorded a 20% increase in searches from overseas buyers compared to the five-year average. This surge is not...
The Reserve Bank has cautioned against expecting a rapid solution to the escalating property and rental market prices, citing significant hurdles like escalating construction expenses that discourage developers from providing the much-needed housing supply. This warning coincides with mounting pressure on project funding due to rising interest rates, despite optimistic inflation projections from the...
In recent years, the Australian real estate landscape has been marked by a series of significant events, from fluctuating interest rates to the ongoing housing crisis in Western Australia. As stakeholders in this dynamic market, it is imperative for both home buyers and sellers to understand the implications of these developments. The RBA's Policy Decision The most recent decision by...
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