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...

Source: Courier Mail Queensland is in the grips of its worst rental crisis on record with just 0.7 per cent vacancy rates forcing families to live in their cars as experts say there is no sign of reprieve in sight and things may yet get worse. Record-low vacancy rates, blown-out housing waitlists and an unrelenting property price boom have deepened Queensland’s rental crisis with families still scrambling for shelter. Jess Pomerenke secured a rental after speaking to The Courier-Mail...

Source:  AVAA The first decision under recent Anti-Phoenixing Laws has been handed down. Victorian Supreme Court Associate Justice Gardiner observed that the case had “all the classic hallmarks of a phoenix transaction” before handing down his decision. It is his opinion that assets had been transferred below market value - or best available price at the time.
 
Introduced under the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 and takin...

Source:  Australian Property Journal RENTAL properties are becoming less and less available, as the country’s rental crisis mounts the national vacancy rate continues to fall, reaching just 1%. According to the latest data from SQM Research, in March there were just 36,868 residential rental properties available Australia-wide, down again from February’s 43,844 and last March’s 72,446. In Sydney the vacancy rate fell to 1.6% with 12,748 vacancies, while in Melbourne ...

Source:  Australian Property Journal Rental availability continues to shrink, as vacancy rates across more than half of Queensland LGAs and sub regions reached record levels in the first quarter of the year. According to REIQ’s Residential Vacancy Report for the March quarter, rental stock is fast running out in the Sunshine State, with record lows most apparent in the Tablelands Region and Southern Downs Region where vacancy rates are tightest at 0.1%. Likewise in the regional ...

Source:  Corelogic The residential property markets of Australia’s two largest cities have hit their first quarter of negative territory since the extended lockdowns of 2020. Sydney and Melbourne’s market slowdown has seen CoreLogic’s national Home Value Index (HVI) continue to lose steam through April. Housing values are still rising at the national level, however the 0.6% monthly rate of growth is the lowest reading since October 2020. Sydney and Melbourne, which h...

Source: Corelogic CoreLogic’s national Home Value Index (HVI) was up 0.7% in March, a subtle increase on the 0.6% lift recorded in February. The uptick in the monthly rate of growth was primarily driven by stronger conditions in Brisbane, Adelaide, Perth and the ACT, along with several regional areas, offsetting a slip in values across Sydney and Melbourne. The first quarter of the year has seen Australian dwelling values rise by 2.4%, adding approximately $17,000 to the val...

Source:  CoreLogic Property market performance across Australia’s east coast, particularly South East Queensland and Northern New South Wales over the past year, could be summarised as having leading price growth, increased auction activity, and favourable internal migration trends. However, the end of February was a sobering reminder of the impact of extreme weather events and climate change. 

Numerous enquiries from the industry and media have reached CoreLogic regard...

Source:  Toowoomba Chronicle Toowoomba's rental crisis could push the cost of rent up by more than $5000 this year as the Garden City records the second lowest volume of vacant properties in 17 years. With a population of 171,000 housed in 66,000 dwellings, an estimated 22,000 of those make up Toowoomba’s total rental pool, according to property research firm Propertyology. Analysis of the city’s rental market has found just 81 dwellings are currently being advertised ...