Growth in Australian Construction Costs Lowest Since 2020

Posted on 2 August 2023
Source:  CoreLogic After more than two years of unabated increases in the price to build a new home or renovate, the pressure on construction costs has come off the boil, despite lingering volatility among individual material types. CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new home, returned a quarterly growth rate of 0.7% for the June quarter, the lowest rate since September 2020 and well below the 1.2% decade average. Th...

IRWA Conference - Denver, Colorado

Posted on 12 July 2023
John Leeson was invited to speak at the IRWA (International Right of Way) Association conference in Denver, Colorado in June 2023.  It was an honour to participate in the international presentation on water with representatives from throughout the world at the IRWA Conference. The conference hosted over 1,200 international attendees.  John was asked to participate in a Plenary Session: "The Ups and Downs of Water: Perspectives from Around the World", where John discussed...

Rental Insights - June 2023

Posted on 12 July 2023
Source: CoreLogic More than 40% of Australian house and unit markets record double-digit rent increase. CoreLogic’s national rental index shows the rate of rental growth has softened slightly, with rents up 0.8% in May compared to the 0.9% and 1% increases in April and March respectively. CoreLogic Economist Kaytlin Ezzy said the slowdown in the monthly growth rate had contributed to a fall in the annual trend, which dipped below double digits for the first time in 10 months, with re...

Strongest annual rental increase on record for Australia's capitals

Posted on 16 May 2023
Source: A surge in overseas migrants and international students coupled with a significant shortfall in rental listings has led to the strongest annual rental increase on record for Australia’s capitals. The mismatch between supply and demand continues to be the driving force pushing capital city rents higher. Over the four weeks to April 30th, the total supply of capital city rental listings was -20.9% below the level recorded this time last year and -39.8% below the...

Housing lending falls

Posted on 7 March 2023
Source: Australian Property Journal THE persistent decline of housing lending in Australia has accelerated in the 12consecutive month that it has fallen in. According to the ABS, the drop of 5.3% is the largest percentage drop since July 2022with investors (-6.0%) taking a heavier hit than owner occupiers (-4.9%). The latest data which excludes refinancing in lending, demonstrates the effect that inflation and interest rates are ultimately having on the housing market. Decline in house pr...

Affordable rental stock halved

Posted on 7 March 2023
Source: Australian Property Journal THE share of total properties listed for rent below $400 per week has nearly halved in the past year as the national rental crisis shows no sign easing. PropTrack’s Market Insight Report found that the share of properties listed on has plunged to just 17.6%. In March 2020, at the beginning of the pandemic, that share was 42.5%. The share of listings under $400 per week has halved over the past year in Sydney, Melbourne, Brisbane, ...

Rent control not a panacea for rental pain

Posted on 20 February 2023
Source:  REIQ The Real Estate Institute of Queensland (REIQ) says calls from tenants’ advocates for rent control in Queensland is a short-sighted solution to a complex problem. REIQ CEO Antonia Mercorella said rent control would not be a panacea for the rental crisis and would likely have the opposite effect and exacerbate challenging rental conditions. “We are acutely aware of the devastating impacts of the rental crisis and against that backdrop, it’s understandabl...

Home loan demand declines further

Posted on 6 February 2023
Source: Australian Property Journal Housing finance fell again over December, in the eleventh consecutive decline bringing lending down 31% from its January 2022 peak. According to the latest data from ANZ Research, housing lending excluding refinancing was down 4.3% in December 2022, following a 4.2% decline in the previous month. The drop in lending was similarly felt for both investors and owner occupiers, at 4.4% m/m and 4.2% m/m respectively. Despite these declines, total lending for i...

Rental vacancies fall to new low

Posted on 6 February 2023
Source: Australian Property Journal After a seasonal rise over December, the national vacancy rate has again fallen to its lowest point on record for January at 0.8%. According to the latest analysis from Domain, the return to vacancy declines indicates Australia’s highly competitive nature, with asking rents also at historic high levels. Vacant rental listings in January were 36.1% lower than in the same month in 2022 and at all time January low, with increased demand completely abs...

Rent crisis is set to spread: the case for doubling rent assistance

Posted on 24 January 2023
Source:  Australian Property Journal - Bruce Bradbury, Assoc Prof, Social Policy Research Centre, UNSW Sydney For many Australians, the rent crisis is just starting. Advertised rents have been soaring, but mainly for new rentals – so called“asking rents”. The broadest measure of rents actually paid – the rents on the 480,000 or so capital city properties the Bureau of Statistics uses to calculate the consumer price index – has climbed only modestly, increa...

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