Source:  Domain Brisbane tenants are now paying the highest median house rents in the city's history after prices climbed 12.5 per cent over the past year to reach a record-shattering $450 per week. Property experts say mass interstate migration, a booming property market and years of steady rent prices fuelled the hike, with tenants warned to brace themselves for further jumps as landlords capitalise on record-low vacancy rates and skyrocketing demand. According to the lates...

Soiurce:  REIQ Journal Australia's economic recovery from the effects of the COVID-19 pandemic has been led by the performance of its east coast property market, according to end-of-financial year figures released by PEXA, Australia's leading digital property settlement platform. THE TRENDS THAT MATTER IN AUSTRALIA'S PROPERTY BETWEEN JULY 2020 AND JUNE 2021 Queensland leads the east coast for growth, recording +203,000 property sale settlements (up 37% year-on-year) w...

Source:  CoreLogic National home values rose 1.9% in June, taking annual growth to 13.5% for the financial year. The growth in Australian dwelling values was led by houses, which rose 15.6% over the year, compared to a 6.8% lift in unit values. CoreLogic Head of Research for Australia, Eliza Owen noted "This is the highest annual rate of growth seen across the Australian residential property market since April 2004, when the early 2000's housing boom was winding down after a...

Source:  Ausralian Property Journal AUSTRALIANS are still increasingly deciding to make the move to regional areas, as the COVID-19 accelerated trend sees a 7% increase. According to a new report by Commonwealth Bank and Regional Australia Institute (RAI) the increase in movements from capital cities to regional areas between March of 2020 and 2021, supported an increase in net regional migration of 66% in the last quarter compared to the same period in 2020. RAI-CBA Regional Mov...

Source: Ian Neil, McCarthy Durie Lawyers Although the issues concerned an Accountant's expert report in Queensland Supreme Court civil litigation1, the Court's consideration of the issues are no doubt relevant to experts' reports in the Planning & Environment Court and Land Court jurisdictions. Indeed, it is probably fair to say that many expert reports in those jurisdictions, possibly for reasons of complacency in instructions provided or the expert's frequent engagem...

Source:  Australian Property Journal AUCTION clearance rates and sale volumes have continued to decline as the market shows signs of cooling after a heated month of March. National Sale volumes dipped below the $1 billion mark on the weekend for the first time since 27 February when the market began to pick up in the lead up to Easter. According to Domain, there were 1,721 listings, 1,223 auctions and 981 sales were reported, resulting in a preliminary clearance rate of 80.2%. ...

Source:  CoreLogic The pace of capital gains across Australian housing markets has been close to record breaking, with the national growth rate in March the fastest since 1988. Such exuberant conditions have been driven by a multitude of factors including record low mortgage rates, a stunning surge in consumer confidence as the economic recovery beats expectations, a range of additional stimulus measures which have incentivised home buying and building, and persistently low adverti...

Source:  Australian Property Journal QUEENSLAND set its highest sales settlements since 2007 in the first quarter of the year, as confidence soars in the north-eastern property market. According to recent analysis by PEXA, national sale settlements in the first quarter were up 30% compared to the same period in the previous year, with nearly 200,000 properties being settled. In Queensland sales settlements were up 40% year-on-year, with 51,771 properties settled in the quarter.&n...

Source:  Brisbane Times Brisbane is booming as babies are born and southerners began to flee lockdowns for the Sunshine State's (usually) COVID-free lifestyle. Brisbane's population grew by 1.9 per cent during 2019-20, recording the highest growth rate of all capital cities, according to new Australian Bureau of Statistics data. ABS demography director Phil Browning said Brisbane was closely followed by Perth, with a population growth rate of 1.8 per cent. Third was Mel...

Source: First National Real Estate According to CoreLogic, Australian home values surged 2.1% higher in February; the largest month-on-month change in the national home value index since August 2003. A combination of record low mortgage rates, improving economic conditions, government incentives and a significant shortage of inventory has created a broad-based boom across the housing market nationally.

Values rose in every capital city, and throughout each state regionally, confirmin...