Source: API Property Journal
AUSTRALIAN house prices are falling at their fastest rate since the early 1980s recession, and rising interest rates could see 30% wiped off values.
Values fell by 1.3% in July, marking the third consecutive drop for CoreLogic’s national Home Value Index. After prices surged 28.6% through the pandemic growth phase, they are now 2.0% below the April peak.
Five of the eight capital cities recorded a month-on-month decline, led by Sydney and Melbourne w...
Source: REIQ
The rental supply squeeze has kept a tight grip on Queensland, despite some slight increases in vacancies on the coasts, according to the Real Estate Institute of Queensland’s (REIQ) latest report.
The REIQ’s Residential Vacancy Report for the June Quarter 2022, released today, showed the vast majority of Queensland continues to endure incredibly tight and relatively flat vacancy rates, well below one percent, a far cry from a healthy 2.6 – 3.5 percent r...
Source: The Chronicle
Essential workers such hospital workers and teaching staff, even students, are struggling to find a rental as Queensland’s vacancy rates plummet to punishing new lows across parts of the state.
The REIQ’s Residential Vacancy Report for the June Quarter 2022 shows that vacancy rates have fallen again across 21 of the 50 Queensland housing markets, with two regions – Goondwindi and Southern Downs –practically putting up the “no vacancy sign&...
Source: CoreLogic
Australia’s rental market continues to tighten as low supply levels cause national vacancy rates to dive and rents to rise across all capital cities and property types over the past three months.
CoreLogic’s Quarterly Rental Review for Q2 2022, released today, shows the national rental index increased 0.9% in the month to June and 2.9% over the June quarter, a 30 basis point increase on the three months to March.
Dwelling rents are 9.1% higher across the...
Source: CoreLogic
Owing to the popularity of the state’s largest coastal markets (Gold Coast and Sunshine Coast), Queensland was the only state to have a similar number of million-dollar markets in both its capital city (122) and its rest of state area (107). Thanks to its relative affordability and a steady stream of interstate migration, values have surged across Queensland, with the number of million-dollar markets more than doubling across Brisbane (up 139.2%) and regional QLD (u...
Source: Australian Property Journal
The national residential vacancy rate has been crunched to just 1% – its lowest level in 16 years – and is set to tighten further, as rents skyrocket and the national rental crisis worsens.
New data from SQM Research showed there were 36,478 vacant properties across the country in May, down from 39,616 in April.
Vacancy rates in Sydney and Melbourne came down over the month to 1.5% and 1.7% respectively, and were steady in their CBDs at...
Source: CoreLogic
Housing markets lost more steam in May as a combination of higher interest rates, rising inventory levels and lower sentiment dampened conditions. CoreLogic’s Home Value Index (HVI) showed Sydney (-1.0%) and Melbourne (-0.7%) dwelling values continued to record the most significant month-on-month falls, while Canberra (-0.1%) recorded its first monthly decline since July 2019.
Although housing values continued to rise across the remaining capitals, the growth wa...
Source: CoreLogic
While housing value growth has slowed, rents continue to rise swiftly. Nationally, CoreLogic’s Hedonic Rental Index increased 1.0% in May, taking the quarterly rate of growth to 3.0%, up 60 basis points on a year ago.
The annual change in rents is now tracking at 8.8% across the combined capital cities and 10.8% across the combined regions.
Unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house ...
Source: Australian Property Journal
Owner occupier and investor home loan commitments fell at their fastest pace in nearly two years in April – but remained higher than pre-pandemic levels – a month ahead of the Reserve Bank lifting interest rates for the first time in 12 years.
April’s 6.4% fall in commitments to $31.0 billion followed a rise of 2.1% in the previous month, according to the latest data from the Australian Bureau of Statistics (ABS).
Owner-occupied lending...
Source: Australian Property Journal
Queensland's residential property market is continuing to grow, as much of the country begins to experience stagnation and decline for the first time since the onset of COVID.
According to REIQ’s data for the first quarter of 2022, median house prices are up 3.23% and median unit prices are up 2.17%, despite disruptions throughout the period including further COVID-19 outbreaks, flooding, several long weekends and the run up to the Federal Elect...
