Source: Australian Property Journal
With little availability in the nation's rental market, rents are being placed under upwards pressure rising for another month.
According to SQM Research, the national rental vacancy rate is still tight, sitting at 1.7% over July, while the national combined weekly rent is up 1.3% to $508 a week, a yearly increase of 13.7%.
In Melbourne the vacancy rate was up from 3.5% in June to 3.6%, while in Sydney it fell from 2.8% to 2.7%. While in M...
Source: CoreLogic
Australian housing values increased a further 1.6% in July, according to CoreLogic's national home value index. The latest rise takes housing values 14.1% higher over the first seven months of the year and 16.1% higher over the past twelve months.
CoreLogic's research director, Tim Lawless, described the market as strong, but losing steam. "The 16.1% lift in national housing values over the past year is the fastest pace of annual growth s...
Source: Austadiums
Brisbane has been awarded the 2032 Olympic Games, with venues previously confirmed, including a re-built 50,000-capacity Gabba to be the main stadium. See the full list below.
Officials are planning to host an Olympic Games that'll break-even avoiding the mistakes of previous hosts were huge sums of money have been spent building stadiums that end up as white elephants.
The Brisbane 2032 Masterplan includes 32 venues within South-East Queensland for the 28...
Source: REIQ
Although some 11 years away, the 2032 Olympic Games is on the lips of most Queenslanders particularly among Brisbanites whose home city has been declared host of the event.
However, it's not just the excitement of the world's largest multi-sport event that has tongues wagging.
Hosting the 2032 Olympics and Paralympics could be a "game-changer" for Queensland, according to Brisbane Lord Mayor Adrian Schrinner, who says it could "deliver 2...
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%.
...