News

Victoria

Windfall gains tax passes Victorian upper house, claims it will raise home prices, cut supply

The windfall gains tax is expected to create an "unjust" divide between Melbourne's new estates and those in regional areas. Victoria's development lobby has warned of housing shortages and rising land costs, especially in regional areas, after the government’s windfall gains tax passed th...

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Australia's regional property boom is a double-edged sword

Australia's regional property boom is a double-edged sword

Regional property markets are booming... but it's both good and bad news for locals. The COVID pandemic has had a significant impact on housing markets in regional Australia. It's been well documented that the ability to work remotely has given people more choice in how they live, and many have...

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Childcare centres top shopping lists of small investors

Childcare centres top shopping lists of small investors

The Burgess Rawson auction in Melbourne was almost a sell-out as over $100 million of real estate changed hands. Private investor appetite for essential services real estate, especially childcare centres, medical properties, pharmacies and fast food outlets, lifted total sales across three days ...

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Surging Costs Blamed as Privium Nears Collapse

Surging Costs Blamed as Privium Nears Collapse

One of Queensland's busiest residential builders, Privium Group, has been placed in voluntary administration with debts of more than $28 million. Privium, named 11th biggest builder in Queensland by the HIA this year after completing more than 600 projects worth $180 million, is nearing collapse...

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Melbourne housing affordability plummets, women hit hardest

Melbourne housing affordability plummets, women hit hardest

Auctioneer Josh Stirling accepts bids on a property in Mozart St, St Kilda on Sunday November 2021. The price of a typical house in Melbourne has multiplied by 22 in the past 40 years, almost three times faster than wages, with advocates warning that women were bearing the brunt of the affordabi...

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Childcare boom just getting started as more investors target opportunities

Childcare boom just getting started as more investors target opportunities

As the demand for childcare grows, so too does the demand for childcare real estate, with government rebates and social and demographic changes underpinning the success of these assets. While sales volumes have remained subdued across most commercial property sectors since the start of the pande...

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Low interest rates aren't enough for first time buyers

Low interest rates aren't enough for first time buyers

Despite the RBA cash rate sitting at a record low 0.1 per cent, in the past year the 'Time to buy a dwelling index' has plummeted. For more than half a century the 'Great Australian Dream' has been owning a home on a quarter acre block and pretty much the entire list of features included in the ...

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North Queensland's property market booming as interstate buyers take advantage of lower prices

North Queensland's property market booming as interstate buyers take advantage of lower prices

Real estate agent Chelsea Stevens says she's having 20 to 30 groups through an open home. Chelsea Stevens has 100 buyers ready to find their next home, but there are no houses for them to buy.  Key points: Real estate agent Chelsea Stevens says properties are selling in less than a day,...

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Victoria has launched a $500 million homebuyer fund that will see the government own a share of 3,000 homes

Victoria has launched a $500 million homebuyer fund that will see the government own a share of 3,000 homes

A large panorama of the city skyline of Melbourne, Victoria, Australia. View from north looking south. A new fund launched by the Victorian government will chip in 25% of the deposit for residents of the state. The $500 million fund is set to help up to 3,000 residents buy a home. It follows...

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Pallas Courts Build-to-Rent with Tax Relief Sweetener

Pallas Courts Build-to-Rent with Tax Relief Sweetener

Build-to-rent developments will be exempted from absentee owner surcharges for up to 30 years under changes unveiled by the Victorian government in an effort to bolster the burgeoning sector. It also announced that build-to-rent projects completed and operational before 2032 would be eligible fo...

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Australian town of Quilpie giving away free land with $12.5k grant

Australian town of Quilpie giving away free land with $12.5k grant

You could build on one of these blocks. It's no secret that getting into the property market is incredibly hard with skyrocketing prices, but one region is offering hope for young Aussies. A Queensland town is helping Aussies with their home ownership dreams by giving away free blocks of lands ...

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'Out of control' stamp duty bracket creep is hurting listings and housing affordability: REIA, SQM Research

'Out of control' stamp duty bracket creep is hurting listings and housing affordability: REIA, SQM Research

Property taxes are slashing listings and hurting affordability, a new report claims. Australian stamp duty costs are "completely out of control" as 'bracket creep' is slashing the number of homes for sale and fuelling affordability issues, property experts claim. A new report by the Real Estate...

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Soaring housing debt a financial risk: Reserve Bank

Soaring housing debt a financial risk: Reserve Bank

Growing house prices could pose a risk to the financial system if home buyers become too over-indebted. Spiralling household debt tied to the nation's soaring property prices could pose a risk to the financial system, the Reserve Bank has cautioned as home values across capital cities continue t...

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Construction industry shutdown: Almost $1bn in renos and home builds on hold in Victoria

Construction industry shutdown: Almost $1bn in renos and home builds on hold in Victoria

Building tools and materials will go down across Melbourne and some regional home construction and renovation sites for two weeks. Almost $1bn in residential construction and renovations will be sidelined with the construction sector over the next two weeks, Australia's peak housing industry gro...

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Mortgage stress soars as RBA says tax system pushes up house prices

Mortgage stress soars as RBA says tax system pushes up house prices

More than two in five households are now in financial stress due to soaring house prices and mortgages. Mortgage stress is spiking across key suburban electorates in Sydney and Melbourne despite record low interest rates as spiralling property prices leave two in five households struggling to ma...

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Perth house values climb $260 a day amid fears of living standard hit

Perth house values climb $260 a day amid fears of living standard hit

The average new mortgage to buy an established house in WA has soared by almost $50,000 in two years amid a nationwide glut of home lending. The rapid increase has raised fears our obsession with pumping money into real estate may hurt Australia's long-term living standards. As Perth's median h...

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NAB Quarterly Australian Residential Property Survey Q2 2021

Housing market sentiment lifts to a new high and dwelling prices now expected to grow around 19% in 2021 and 4% in 2022. Housing market sentiment lifts to a new high as house prices and rents continue to grow across the country. But the survey is tipping slower growth in prices over the next 1-2...

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Aussie suburbs where house prices are rising by up to $100k a month

Aussie suburbs where house prices are rising by up to $100k a month

The Beach Hotel in Byron Bay, an area which has seen the biggest rise in prices out of any other area in Australia. New data reveals you'd need to be making an extra $20,000 a month or more to break into the market for a 20 per cent house deposit in these suburbs. Property prices have risen as ...

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House prices jump $52,600 in three months, and the Reserve Bank says it can't do much about it

House prices jump $52,600 in three months, and the Reserve Bank says it can't do much about it

Reserve Bank Governor Philip Lowe says the economic recovery will depend heavily on the level of vaccinations and how Australians adapt to living with COVID. Australian house prices are now 19 per cent higher than they were before the pandemic, but the Reserve Bank of Australia won't be lifting ...

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Buying a home can feel impossible. Here are alternative ways to get into the housing market

Buying a home can feel impossible. Here are alternative ways to get into the housing market

Nic and Chris are trying a rent-with-option-to-buy option in their home city of Melbourne. Hands up if you're sick of being locked out of the housing market right now. If you've been paying attention, then you'll know that in the past 12 months alone prices have gone up by an eye-watering $100,...

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Sydney house values climb $850 a day amid fears of living standard hit

The average new mortgage to buy an established house in NSW has soared by more than $200,000 in two years amid a nationwide glut of home lending, raising fears our obsession with pumping money into real estate may hurt Australia's long-term living standards. As Sydney's median house price climbs...

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Housing big spenders fear going bust when interest rates rise

Monthly mortgage repayments now chew up 42 per cent of after-tax income in Brisbane. More than half of homeowners are concerned about interest rates increasing in the near future, with 15 per cent fearing they will be unable to make their repayments. And those fears are felt most acutely by hou...

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Australians save $60 billion a year on overseas travel, spend part of it on buying property

Australians save $60 billion a year on overseas travel, spend part of it on buying property

Buyers are using savings from cancelled holidays to buy holiday homes. Australians have saved some $60 billion a year in cancelled overseas travel because of the pandemic, figures show, with part of that cash flowing into the property market. Buyers lucky enough to keep their jobs have been tak...

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Property prices have surged faster than the annual household wage in these suburbs

Property prices have surged faster than the annual household wage in these suburbs

The coronavirus outbreak and continued lockdowns and restrictions have done little to dampen Australia's property market. Recent Domain data shows that property prices have reached record highs across all capital cities as the perfect storm for Australia's property market continues to roll out. ...

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Developer fees adding up to $85,000 a block, driving up housing prices

Developer fees adding up to $85,000 a block, driving up housing prices

Developer fees are adding up to $85,000 to new house prices, with doubts they are going into essential local infrastructure. Developers are paying up to $85,000 for every housing block they put on the market, with research showing the fees are driving up property prices and in some cases aren't ...

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Australian property prices are $103,400 higher than last year, CoreLogic says

Australian property prices are $103,400 higher than last year, CoreLogic says

Sydney's median property price lifted 1.8pc to $1.04 million in August. Australian house prices have become even more expensive, with coronavirus lockdowns across NSW, Victoria and the ACT having practically no impact on property values. Key points: Darwin, Canberra and Hobart saw the biggest ...

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Lockdowns hit property auction clearance rates

Lockdowns hit property auction clearance rates

Properties are being withdrawn from auction, but prices tipped to keep rising, but a slower rate. Ongoing lockdowns in Sydney and Melbourne have hit property auctions in our two biggest cities, but most experts do not expect to see an end to the prolonged boom any time soon, though price rises a...

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Southern developers make a beeline for the Gold Coast

Southern developers make a beeline for the Gold Coast

Palm Beach has become a hotspot for interstate developers. A raft of Sydney and Melbourne developers are snatching up landholdings along the Gold Coast's middle and southern beaches, as demand for high-end apartments in the region grows. With 12,000 Victorians and 18,000 Sydney-siders last year...

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Building demand drives 1.4% quarterly increase in Australia's housing construction costs

Building demand drives 1.4% quarterly increase in Australia's housing construction costs

CoreLogic's national measure of residential construction costs show an increase of 1.4% in the three months to June 2021, outpacing the Consumer Price Index of 0.8% for the same period. The latest Cordell Housing Index Price (CHIP) results show an annual growth rate of 3.9% and the largest quart...

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Reforms needed before Victoria hits 10 million people, infrastructure adviser says

Reforms needed before Victoria hits 10 million people, infrastructure adviser says

Melbourne's population is predicted to boom in outer suburbs. The population of Melbourne's fringe suburbs will grow by more than 900,000 people in the next 30 years, leading Victoria's independent infrastructure adviser to urge sweeping reforms to housing, transport, and energy use. Infrastruc...

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Price Pressures, Labor Shortages Rein in Construction Activity

Building costs are rising at a faster rate than inflation as construction demand continues to outstrip supply for both labour and materials. Despite billions of dollars' worth of stimulus being poured into housing and construction, activity will continue to decline due to the pandemic. Global s...

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Why investors are turning to the booming house-and-land market

Why investors are turning to the booming house-and-land market

Traditionally, the holy grail of property investing has always been land. Today, because of the pandemic, the lure of owning your own piece of dirt has never been stronger - or the returns higher, compared with townhouses and apartments. "Tastes shifted over the past few years into investing in...

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Lockdowns spark city exodus as thousands head to the hills

Lockdowns spark city exodus as thousands head to the hills

Since the start of the pandemic, a net 24,500 people have left Sydney for other parts of NSW. In total, almost 40,000 have moved out of Sydney since the pandemic started, with more than 10 per cent making the move to Brisbane.. But there are signs of change. In the first three months of this yea...

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Houses earning more than Australia's highest paid professionals

Houses earning more than Australia's highest paid professionals

Home owners are out-earning some of Australia's top professionals, with rapid price growth seeing house values climb by more than $1000 per day in some cities. Houses are out-earning some of Australia's top-paid professionals, with price growth in some cities outstripping the income of surgeons,...

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Regional house price growth in Australian towns reaches dizzying new heights

Regional house price growth in Australian towns reaches dizzying new heights

House prices in Australia's most popular regional towns have continued their phenomenal run of growth. Regional Australia is continuing its dizzying house price growth, with a jump of 4.5 per cent this last quarter alone, and a spectacular 12.5 per cent rise over the past year, latest figures sh...

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John McGrath - Investors replacing first home buyers

John McGrath - Investors replacing first home buyers

Investor activity across Australia has soared in recent months, with the highest amount borrowed to buy investment properties since mid-2015, however, John McGrath founder and executive director of McGrath Estate Agents cautions investors not to overextend for fear of missing out. Investor activ...

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Worst suburbs to be a landlord: where investors are losing the most money

Worst suburbs to be a landlord: where investors are losing the most money

High density areas such as the Parramatta region in Western Sydney have more vacancies. How long can low interest rates last? Lockdowns, border closures and a depleted pool of international students have been bleeding landlords dry in parts of Sydney and Melbourne. With vacancies elevated and ...

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'Builders are going bust': Construction material shortages cause costly delays

'Builders are going bust': Construction material shortages cause costly delays

Builders say they are being hampered by lengthy and costly delays due to a perfect storm of global and local events. A shortage of building materials including timber, bricks and windows has led to costly delays for renovations and new homes. A construction boom spurred by people investing in h...

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Your guide to buying the perfect investment property: Young investor, 28, who bought her first block of land when she was 21 reveals why it's ALWAYS better to build rather than buy a home

Your guide to buying the perfect investment property: Young investor, 28, who bought her first block of land when she was 21 reveals why it's ALWAYS better to build rather than buy a home

Alex Fitzgerald purchased her first investment property when she was 21 and is inspiring other young people to get into the market. Alex Fitzgerald bought her first house and land package at the age of 21. The 28-year-old purchased her fourth investment property in September 2020. Building a...

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Regional housing market doubles capital city value growth

Regional housing market doubles capital city value growth

Australia's regional housing market has far outpaced value growth across Australia's capital cities in the last 12 months, rising 13.0% compared with a 6.4% gain in capital city values. CoreLogic's quarterly Regional Market Update, which looks at capital growth over the 12 months to April 2021 i...

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New home sales sink as HomeBuilder qualifying period ends

New home sales sink as HomeBuilder qualifying period ends

More than meets the eye: New home sales fell in April, but from extreme highs. New home sales halved nationally in April, a month after the deadline ended for prospective buyers to benefit from the federal government's HomeBuilder stimulus, industry figures showed on Thursday. Total new sales d...

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Housing again at forefront of Australia's economic growth, making banks happy

Housing again at forefront of Australia's economic growth, making banks happy

There has been a shift in housing preferences in Australia post-COVID-19. Miraculous. That's how Commonwealth Bank's boss described Australia's economic recovery last week. But it was a strange word to choose. "Miraculous" can suggest a miracle has occurred, which implies the hand of God has b...

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Developers preparing for home buying frenzy

Developers preparing for home buying frenzy

Home sales are expected to spike in the next two weeks as first home buyers seek to get their purchases over the line before the HomeBuilder scheme ends. This comes at a time when Sydney property prices have finally cracked their peak levels from 2017 and in which house prices, home loans and...

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How COVID has shifted investor mindset in the property hunt

How COVID has shifted investor mindset in the property hunt

Historically, investor demand for housing has been very much focused on inner-city areas of major capital cities and popular holiday destinations, such as Queensland’s Gold Coast and Sunshine Coast. But the repercussions of COVID-19 and closed international borders have forced some dramati...

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ASX gains as JB Hi-Fi profits surge; Commonwealth Bank forecasts house price boom

ASX gains as JB Hi-Fi profits surge; Commonwealth Bank forecasts house price boom

Commonwealth Bank economists expect national dwelling prices to increase 8 per cent in 2021. Economists at Australia's biggest bank think the housing market is "on the cusp of a boom", as record low mortgage rates collide with the recovery in the jobs market. Key Points : CBA forecasts house p...

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House prices return to record highs as COVID rally continues into 2021

House prices return to record highs as COVID rally continues into 2021

House prices are back around the record levels set in 2017, but apartments are not performing as well. A 0.9 per cent rise in house prices last month has taken Australian housing values to a record high. exceeding the peak reached in 2017. Key points: Home prices are 0.7 per cent above their p...

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First home buyers to slow down; investors to return in 2021

After the domination of first home buyers in the 2020 property market, investors are expected to make their market comeback this year. Following the introduction of the federal government's First Home Loan Deposit Scheme, the pandemic further accelerated first home buyer activity across property...

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More Aussie house hunters looking to go 'off grid' in COVID's wake

More Aussie house hunters looking to go 'off grid' in COVID's wake

The coronavirus pandemic has brought about many unexpected changes to the property market, including soaring demand for regional properties and larger homes. But perhaps even more unforeseen is a strong trend towards 'off-grid' living.  New figures have revealed a significant increase in th...

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Australia's housing prices are predicted to rise by more than $160,000

Australia's housing prices are predicted to rise by more than $160,000

Australian house prices are expected to skyrocket by 16 per cent over the next two years, rising by as much as $160,000 in some capital cities. Commonwealth Bank's head of economics Gareth Aird predicted house prices will rise by 9 per cent in 2021 and 7 per cent in 2022 in an economics issues p...

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The house always wins: why house sales vastly outstripped unit sales over the year

The house always wins: why house sales vastly outstripped unit sales over the year

In the year to January, CoreLogic estimates that there were 459,308 properties transacted across Australia. Most of these sales were houses, rather than units. It is not unusual for house sales to make up the majority of transactions, with houses making up an average 70.2% of annual sales volume...

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HomeBuilder Take Up Doubles Expectations

HomeBuilder Take Up Doubles Expectations

The HomeBuilder grant scheme is twice as popular as anticipated and is set to cost the government an expected $2 billion. The original estimate for the scheme was $680 million for 27,000 grants when the prime minister first announced the initiative in June. The latest figures released from the ...

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Capital City House Prices Hit New Peaks

Capital City House Prices Hit New Peaks

Australian house prices hit record highs along the east coast, marking the steepest increase in four years and rounding out a year of unprecedented events and price predictions. The median house value now sits at $852,940, up 4. 1 per cent over the quarter and 5.8 per cent in the year according ...

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Australia's property market 'far stronger than expected' considering the pandemic

REA Group Chief Economist Nerida Conisbee says Australia's property market has been "far stronger than expected," this year considering the COVID-19 pandemic. "When the first lockdown hit in March, I certainly don't think anyone though that there would be pretty much no price decline in most of ...

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Housing markets predicted to have a bumper year

After a crazy year, record-low borrowing costs and government efforts to stimulate the economy have set Australian housing prices up for further growth in 2021 - after every city bar Melbourne closed the year in positive territory, having already made up their losses triggered by the pandemic. A...

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HomeBuilder success sees scheme extended beyond 2020

A further 15,000 homes are expected to be constructed or majorly rebuilt after the federal government revealed a three-month extension to its HomeBuilder scheme. HomeBuilder was initially brought in as a COVID-19 stimulus measure to drive demand in the construction sector and support jobs. The ...

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Federal Government extends HomeBuilder program for another three months but at a lower rate

Federal Government extends HomeBuilder program for another three months but at a lower rate

Property price caps have been lifted and the amount of time given to start construction extended. A Federal Government program offering cash grants for housing construction projects has been extended, but at a lower amount. The HomeBuilder scheme currently provides $25,000 grants to eligible pe...

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Low cost of debt ‘firing up’ house prices in capital cities

Houses are rising in price again in most capital cities and although the rental market remains weak there are some surprising increases in value. REA Group Chief Economist Nerida Conisbee told Sky News 80 per cent of suburbs across Australia have seen prices soar. "Sydney is stand out the most ...

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Sales of new homes increase since same time last year

Sales of new homes increase since same time last year

"The full impact of HomeBuilder is now evident in the HIA's New Home Sales Report with sales now 11.8 per cent higher in the seven months since restrictions came into effect than at the same time last year," commented HIA Chief Economist, Tim Reardon. The HIA New Home Sales report - a monthly su...

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Not quite less than zero: RBA looks at lower rates and more borrowing

Not quite less than zero: RBA looks at lower rates and more borrowing

The Reserve Bank says with interest rates to remain lower for longer, all levels of government can borrow for job-creating projects. The Reserve Bank could push interest rates closer to zero to help the economy out of the coronavirus recession as it presses all levels of government to use their ...

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Westpac Predicts House Price Surge

Westpac Predicts House Price Surge

Westpac is the latest bank to upgrade its short-term home price targets, citing record low interest rates, ongoing regulator support and a steadying economy for its more positive outlook. The bank says residential property prices are now expected to experience a 5 per cent correction through to ...

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House prices will boom again next year, according to Westpac, making Australia's cities less affordable. Here's how each capital is predicted to fare.

House prices will boom again next year, according to Westpac, making Australia's cities less affordable. Here's how each capital is predicted to fare.

Westpac has updated its property forecasts, expecting a serious boom in the coming years. The bank’s economists expect prices to fall nationwide by just 2.3% more to June before booming to 2023. Fuelled by low-interest rates and record economic support, chief economist Bill Evans and Ma...

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Economist update: Regional areas dominating strongest price growth

Economist update: Regional areas dominating strongest price growth

Looking at the Local Government Areas that are seeing the strongest growth over the past three months, it is overwhelmingly dominated by regional areas. Most of these are lifestyle areas – white-collar nomad driven – that have become popular over time, but particularly so since COVID-...

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Regional vacancies tighten as tenants flee CBDs

Residential vacancies in outer suburbs and regional areas fell sharply in July, while CBD apartments sat empty as professionals who could work remotely abandoned their city flats in favour of larger homes to escape the spreading virus. The SQM Research July vacancy rate report showed a slight dr...

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‘Licking their lips’: Who is still buying property in Australia’s recession?

‘Licking their lips’: Who is still buying property in Australia’s recession?

The Australian property market has taken a battering amid the COVID-19 pandemic with prices falling or stagnant in most cities, but white-collar workers, doctors and busy tradespeople have still been snapping up homes, agents said. Although the Australian economy fell into a recession in the Jun...

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All the grants, schemes and incentives available for first-home buyers around the country

All the grants, schemes and incentives available for first-home buyers around the country

If first-time home buyers manage to navigate their way through all the options, conditions and qualifications for assistance with buying their first home, then they’ve earnt every cent. In some states you have to buy a brand-new home, in others it can be newly renovated or less than five y...

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Increasing real interest rates, Victorian lockdown make RBA decision tougher

Increasing real interest rates and Victoria's stage-four lockdown will force the Reserve Bank to re-examine policy settings and its forecasts for the national economy amid growing evidence the jobs market has deteriorated in the past fortnight. The RBA board is expected to hold official interest...

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How hopeful home buyers are making the most of the current climate

How hopeful home buyers are making the most of the current climate

While the COVID-19 pandemic continues to disrupt property markets across the country, none more so than in Victoria, industry experts are reporting a wave of activity from first-home buyers spurred on by increased government support. “First-home buyers are out in force,” says Antony ...

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Melbourne house prices drop 3.5 per cent to median $881,000 in June quarter amid COVID-19 crisis, the sharpest fall in Australia

First-home hopeful Jyi McWilliams faces fierce competition for entry-level properties, even as Melbourne's median house price falls.  Melbourne house prices have fallen more than any other capital city during the COVID-19-related recession, new figures show, with experts warning there are...

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Covid Conditions Ripe for Build-to-Rent

At a time when Australia is looking to construction as a way to help the economy rebound as quickly as possible, build-to-rent is becoming an increasingly strong option. Build-to-rent developments, designed for renting professionally managed apartments on a long-term basis, are now serving as an...

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Developers report a rise in new home inquiries amid coronavirus restrictions

Developers report a rise in new home inquiries amid coronavirus restrictions

Isolation has put property at the front of people’s minds with developers reporting a rising rate of new home inquiries. Home buyers are making virtual inspections of new homes and visiting property websites in increased numbers, despite the limitations imposed by coronavirus, according to...

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House Price Surge Continues in ‘Rapid Recovery’: Corelogic

House Price Surge Continues in ‘Rapid Recovery’: Corelogic

Australia’s housing market is now five months into its recovery, as Sydney and Melbourne drive the turnaround with values up by 2.7 and 2.2 per cent respectively for the month of November. The national index recorded an increase of 1.7 per cent for the month, with all capital citie...

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House values jump 1.9 per cent in a month in Sydney and Melbourne

House values in Sydney and Melbourne jumped by 1.9 per cent in September as other capital city property markets struggled to gain traction on the back of the Reserve Bank's cuts in official interest rates. House values in Sydney and Melbourne jumped by 1.9 per cent in September as other capita...

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Frasers Property Buys 43-Hectare Land Parcel in Melbourne

Frasers Property has purchased a 43-hectare land parcel from a private syndicate in Melbourne’s west for $27.5 million. Frasers Property has purchased a 43-hectare land parcel from a private syndicate in Melbourne’s west for $27.5 million. The land buy marks the second major Melbo...

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Residents Complain of ‘Cracking’ in Melbourne’s Tallest Tower

Residents of Melbourne's partially completed super-skyscraper Australia 108 have expressed concerns over the structural integrity of the building, claiming to have experienced loud cracking sounds among a number of other defects. Residents of Melbourne’s partially completed super-skyscra...

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Melbourne property downturn over: Median house prices rise for first time in 18 months

Melbourne’s biggest property downturn since the 1980s appears to be at an end, with the latest figures showing a rise in both house and unit prices for the first time in 18 months. Melbourne’s biggest property downturn since the 1980s appears to be at an end, with the latest figure...

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Modest recovery’ forecast for Melbourne market in 2020

There’s a light at the end of the tunnel in Melbourne’s property market, which has shown positive signs in recent weeks as it shivers through wintry conditions. the fog could soon be lifting from Melbourne’s property market. Picture: Nicole Garmston There’s a lig...

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Melbourne Lot Sales Slump, Prices ‘Overvalued’

Developer value-add incentives like rebates and low deposit terms have had little effect on Melbourne’s land market, with lot sales for the March quarter down 59.5 per cent from 2018. Developer value-add incentives like rebates and low deposit terms have had little effect on Melbourne&rs...

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Rental Conditions Favour Tenants in These Capitals..

It's now more expensive to rent a house in Hobart than Melbourne, with rents rising in the Tasmanian capital 7.1 per cent over the quarter. It’s now more expensive to rent a house in Hobart than Melbourne, with rents rising in the Tasmanian capital 7.1 per cent over the quarter. W...

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Melbourne Suburban Rail Loop Moves Ahead

Initial site investigations for Melbourne's $50 billion Suburban Rail Loop will start in the second half of 2019 with specific station locations for the underground network yet to be finalised. Initial site investigations for Melbourne’s $50 billion Suburban Rail Loop will start in the s...

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Regional Australia is big winner in the Federal Budget

There was very little directly related to housing in this year’s Federal Budget, however regional Australia is the clear winner. There was very little directly related to housing in this year’s Federal Budget, however regional Australia is the clear winner.   More sp...

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Rents Across Australia Rise Over The First Quarter Of 2019

The first CoreLogic Quarterly Rental Review for 2019, which tracks median rents and rental yields across Australia, shows that national weekly rents have risen by 1 per cent during the first three months of the year. “This seasonally strong first quarter has delivered the highest incre...

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Australia’s Population Becoming More Diverse

Migration data which was recently released by the ABS showed that as of June 2018, an estimated 17,650,130 residents of Australia were born in Australia. Migration data which was recently released by the ABS showed that as of June 2018, an estimated 17,650,130 residents of Australia were bor...

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Geelong Has Once Again Achieved Australia’s Highest Regional Results

Dwelling sales were down in four of the five Queensland regions over the year to November 2018 with the Wide Bay region the only location to see an increase in home sales (2 per cent). Queensland’s rental market saw advertised rental rates rise over the year to December 2018 with the e...

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Dahua strikes $140m deal to buy Point Cook site from land bankers

Dahua has bought one of the last large parcels of land in Point Cook.   Related Posts NorthConnex Tunnel proceeding as planned November 1, 2017 The various hidden costs of buying an old house August 4, 2017

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Listings Lurch Higher as Housing Market Conditions Languish

The volume of housing stock listed for sale is currently higher, for this time of year, than it has been in many years. While total stock is elevated, newly listed stock remains at fairly similar levels to recent years which suggests that it isn’t a dumping of stock onto the market which ...

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Australian sustainable design The challenges, what we’re getting right, and where to from here

The drive behind building more environmentally friendly residential homes is coming from individuals, not government bodies, and cookie-cutter developments are holding us back, according to a think tank assembled to address the issue of implementing sustainable design. The chair of the discuss...

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Sydney home prices just fell at the fastest annual pace since 1990

Australian home prices fell for a 13th consecutive month in October, driven by continued falls in Sydney and Melbourne, the largest and most expensive capital city markets. CoreLogic’s Home Value Index slid 0.5% — the same decline reported in September — leaving the decline o...

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Sydney house prices to fall 5.1 pc, but surge on Central Coast: Moody's

Sydney house prices will fall 5.1 per cent this year, and then tread water in 2019 with only a 0.6 per cent gain, according to forecasts by Moody’s Analytics and Corelogic. However, the correction in NSW won’t be uniform with more affordable areas like the Central Coast &nd...

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How Have Dwelling Values Shifted Across The Regional Areas Of Australia?

The latest CoreLogic home value index results show the slowdown in the national market has become more broadly based with regional dwelling value growth continuing to slow. In this week’s Pulse we look at how values have changed over the past 12 months outside of the capital cities. Over...

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Australia's housing downturn is deepening as prices fall across most parts of the country

Australian home prices fell for an eleventh consecutive month in August, led by declines in a majority of capital cities. According to CoreLogic’s Hedonic Home Value Index, Australia’s median home price fell 0.3%, adding to a 0.6% drop recorded previously in July. That took the decl...

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$50b underground train network for Melbourne’s suburbs announced by Premier

MASSIVE $50bn pledge to connect all of Melbourne’s rail lines with an underground loop hasn’t been inspected by Victoria’s independent infrastructure body. The unfunded plan would take decades to build. A PROPOSED underground train network for Melbourne would carry passenge...

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Melbourne Airport Inks Deal for $100m Medical Marijuana Facility

Melbourne airport will soon be home to Australia’s largest state-of-the-art medical marijuana facility after signing a deal with ASX-listed medicinal cannabis grower Cann Group. Cann signed a heads of agreement on Wednesday for the lease of a five-hectare site in the Melbourne Ai...

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Developer Backs Innovative Build-to-Rent-to-Buy Model

Impeded by an uninviting property tax landscape, the build-to-rent sector has been stagnant in Australia despite the increasing viability of the model as home ownership rates continue to plunge. More than 40 per cent of Australians now rent by choice and the proportion of households in the renta...

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Victorian Government Pledges $5 Billion for Airport Rail Link

Construction of the long-awaited Melbourne airport rail link could start within four years after the Victorian Labor government promised to match a $5 billion funding pledge commitment from the federal government. Victorian Premier Daniel Andrews promised his government would invest if Labo...

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Aussie: 25 Years of Housing Trends

Aussie recently released there 25 Years of Housing Trends report. This report showcases: Strong housing market conditions have boosted household wealth over the past quarter of a century. The average mortgage size has increased at roughly the same pace as housing values. With mortgage rate...

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Domain’s Rental Report: June 2018

Only one capital city’s median rental price for houses increased over the June quarter according to the latest Domain Rental Report out today. The national median rental price for houses remained steady at $437 over the three months to June, while the median unit rental price f...

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Australia’s Top Performing Suburbs Revealed

Despite recent house price weakness, Australia’s property boom – which saw house prices in some areas of Sydney soar almost 90 per cent from 2010 – created windfall gains for some property owners. Property researcher Corelogic has revealed the top growth suburbs ov...

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Extremes of Australia’s property market growth and decline revealed

The disparate state of Australia’s property market has been laid bare in a new report, with prices in some markets falling by 7.4%, while others are booming, with price growth of just over than 16% year-on-year. The latest realestate.com.au Property Outlook Report, released today, s...

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Melbourne Apartment Market Looking Up

Melbourne’s apartment market has not been immune to commentary about oversupply, however a new report suggests that current supply is balancing out demand in the inner-city apartment market with median prices growing steadily in the past six months. The report from researchers Secret ...

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