The PropTrack Home Price Index shows the home price upturn is firmly entrenched and prices hit fresh record highs in many markets in October.
The rental market remains extremely challenged, with renters facing significant competition for the limited stock available. This has pushed the cost of renting much higher over the past year.
Interest from overseas property seekers is skyrocketing as migration has returned to pre-pandemic volumes.
Demand for rentals is at a heightened level and in some suburbs, enquiries from renters have increased by more than two-fold in the past 12 months.
Build-to-rent (BTR), a fairly new concept in our property landscape, has been brought up as a possible method to increase housing supply and alleviate housing shortages. So, what does it involve and what is its current state in Australia?
Given the speed at which Australia’s population is growing, there’s no question that a lofty new housing target is justified. But is it realistic? Probably not.
Rent prices are set to increase further as vacancy rates continue to tumble. However, there are still some suburbs close to the CBD where median rents are considerably lower than their capital city average.
Across the country, renters are struggling to find somewhere to live as demand for properties reaches an all-time high and the number of available properties hits an all-time low.
The property market had a busy start to spring with new listings sitting 4.5% higher year-on-year.
Australian home prices reached a new record high in September, with regions even recording double-digit growth this year.
Australia is in the midst of a population boom, driven by a surge in net migration following pandemic border closures. But with record low vacancy rates and deteriorating affordability, will we be able to house everyone?
Australia is in the midst of a population boom, driven by a surge in net migration following pandemic border closures.
Throughout 2022, the share of homes that sold for less than asking price increased following interest rate hikes and falls in home prices.
Interest in Australian property from overseas has never been higher, and some locations are more desirable than others.
House rents have remained flat for six months, while unit rents have continued to rise. We expect the price gap will continue to narrow in the coming months.
Renters are facing extremely low availability of rentals and buyers are facing the worst affordability in at least three decades.
National home prices reached a record high in September, entirely regaining the price falls of 2022 despite an uplift in the number of properties coming to market.
Despite higher interest rates, the share of homes being sold below the asking price has fallen over 2023, signalling a strengthening of market conditions.
The spring selling season has arrived, and there's good news for buyers who have faced limited options for much of this year.
The persistent undersupply of properties available to rent is pushing vacancy rates lower, and with rental demand outstripping supply, weekly rents are still increasing rapidly.
The housing market has been unexpectedly resilient this year in the face of significant increases in mortgage interest rates.
The proportion of property owners who consider it a good time to sell has increased from the lows seen at the start of the year, as buyer demand heats up for spring.
Property markets around the country ramped up in August, led by Sydney and Melbourne, which both recorded their busiest end to winter in more than a decade.
The number of investor loans has risen over recent months; however, one state is attracting more investors than others.
Property market activity has been unseasonably high over the past few months, with higher listings and sales in many capital cities.
A large share of properties hitting the market this year were owned for three years or less, but the reason why isn't what it might initially seem.
Housing affordability is at its worst level in decades, and it is more challenging than ever for first-home buyers to get their feet on the property ladder.
The PropTrack Housing Affordability Index is a new state-of-the-art measure of Australian housing affordability.
Housing affordability is now at its worst level in at least three decades, according to the PropTrack Housing Affordability Index, a new comprehensive measure of the share of homes that households can afford to purchase across the whole income distribution.
The PropTrack Home Price Index shows that national home prices jumped a further 0.28% in August as the spring selling season approaches.
Conditions are tough for renters. There are very few vacant homes and rents are rising. But in some regions finding a rental is significantly easier.
With only four months remaining of the year, the ‘fixed-rate cliff’ as has been colloquially termed is passing the halfway point, with more than $100 billion in fixed rate mortgages set to expire by the end of the year.
Analysis shows fewer new listings are associated with higher home price growth, after accounting for other factors. In particular, recent new listings – those 1-2 months ago – have the highest correlation with home price growth.
National property prices increased 2.3% over the first six months of 2023, signalling a shift in the housing market and reversing the declines experienced in the prior six months. Despite the better-than-expected price growth, home prices declined 0.1% over the financial year.
Demand for properties for sale was unseasonably high in July, but enquiries for new developments in particular have increased significantly.
Older Australians are far more likely to own an investment property than younger Australians, a trend that has been growing over time.
The latest construction industry data shows that the pace of building cost increases has slowed.
Strong rental competition in the capital cities is prompting prospective tenants to offer more than the advertised price, particularly in Sydney and Melbourne.
Australia’s biggest property markets are warming ahead of spring, with both Sydney and Melbourne busier than usual for July.
Finding a rental property continues to be difficult across the country, even with a lift in the number of available homes in recent months.
Despite signs of slowing inflation, there's no such relief for tenants as official data shows rents grew at the fastest pace in 25 years during the June quarter.
Our New Zealand neighbours are eyeing up Aussie properties as trans-Tasman migration increases.
The PropTrack Home Price Index shows that home prices in July continued to recover. July marked the seventh consecutive month of national home price growth, reversing much of the falls recorded over 2022, with national home prices returning to positive annual growth to sit 1.36% higher than a year ago.
After three tough years for regional renters, it looks like conditions might finally be starting to ease.
Winter is traditionally a quiet period for the property market, but stronger sales volumes and unseasonably high buyer demand in some cities and regions suggest that sellers are in prime position in the coming months.
A detailed analysis of sale prices for homes sold off-market, compared to those listed on realestate.com.au, has found that homeowners who choose to sell their homes off-market achieve lower selling prices.
New loan commitments increased by 4.8% in May 2023 to $25 billion, signalling property buyers are becoming increasingly active even after 12 interest rate rises since May 2022.
National home prices have risen for the sixth consecutive month following a decline in the latter half of 2022. However, in some regions, prices have not wavered in the past year, growing by as much as a tenth in value.
Sellers in prime winter position as supply remains limited amid solid demand.
It was just a little over a year ago that interest rates rose for the first time in over a decade, spelling an end to a boom that had seen property prices grow at close to the fastest rate in history.
National home prices have increased for six consecutive months, rising by a further 0.3% in June. As a result, national home values are now only 0.1% lower than a year ago.
The trend is clear - the gap between the price of houses and units is widening.
Ever since I began working in the property sector, people have mentioned the adage that property prices double every seven to ten years. Despite the strong price growth through the pandemic, this hasn’t been the case lately.
The PropTrack Home Price Index shows that home prices continued to recover in June. Sydney has led the recovery, with prices up 4.5% since their trough in November last year; but most other capitals have also seen prices start to recover over 2023. This recovery has helped lift prices across the combined capital cities to be back in line with where they were a year ago.
Over the past 3-5 years, home prices have experienced tremendous growth. Though interest rate hikes dampened prices from mid-2022, some metro suburbs have had values double in less than two years.
Vacancy rates have fallen to very low levels across the country since the pandemic. That means that available rentals are in short supply, and conditions are tough for renters.
While we need more homes, data on planned development in our major cities shows they are not being prioritised where people want to live.
Property listings jump in May, but 2023 remains quieter than 2022.
Over the first five months of 2023, national property prices increased by 1.5%. Aside from Darwin, all capital cities saw prices rise in May, with Adelaide and Perth sitting at peaks.
The latest PropTrack Home Price Index showed the current price rebound continued in May, with price rises becoming more widespread across markets.
Low vacancy rates and strong demand for rentals has led to a surge in rent prices, with some suburbs seeing increases of over 30% in the past 12 months.
In the past year, we’ve seen regional rental markets start to ease a bit. They’re still very tight, but things are starting to improve.
The current price rebound continued in May with price rises becoming more widespread and broadening across markets. National home prices increased for the fifth consecutive month, rising 0.33% in May, now up 1.55% year to date. This continued lift in May brings national home prices up 1.03% over the past quarter, the strongest pace of quarterly growth since the March quarter of 2022 when prices peaked.
Rental conditions worsen in our largest capital cities but there is some relief for the regions
April was a quieter month than March across the nation’s property markets, as is usually the case due to the Easter and Anzac Day public holidays.
Sydney, Melbourne and Perth face toughest rental market conditions in the country; rental supply improves in smaller capitals and regional areas.
While the government has committed to increasing housing stock, construction industry headwinds and fast population growth may hamper plans to provide a prompt solution to the housing crisis.
Home prices fell over 2022 following persistent interest rate rises and falling buyer demand. But in recent months there have been signs of recovery, with certain regions leading the rebound in prices.
ANALYSIS: Amid a national rental crisis, fast recovering population growth, and constrained housing supply, measures to address the housing shortage and worsening affordability featured prominently in this year’s budget.
Rent increases are putting a big financial strain on many Australians. But a closer look at the data reveals which households are feeling the most pain.
National home prices increased again in April and have now risen for four consecutive months. The 0.14% growth in April brings the cumulative 2023 increase to 0.75%. Tight supply continues to underpin prices, alongside stronger housing demand, which is offsetting the impact of interest rate rises.
The national rental market was extremely tight over the first quarter of 2023. Rental vacancy rates were edging lower due to exceptionally strong demand for rental accommodation and an ongoing shortage of supply.
The dip in home prices experienced in 2022 pales in comparison to the surge experienced during the pandemic when interest rates hit record lows. Looking back over a longer horizon, over the past 10 years, almost all suburbs have experienced price growth, with some even tripling in value.
Overseas interest in Aussie properties has surged to record levels as migration hits highest point in three years.
National property prices declined over the second half of 2022, along with sales volumes. Despite a low volume of new listings, the total volume of properties available for sale has trended higher as properties are taking longer to sell.
The national rental market remains tight, characterised by strong demand and low supply, resulting in properties leasing rapidly. While conditions are still tight, rental price growth slowed significantly over the final quarter of the year, with no change nationally. Median advertised rents were recorded at $480 per week at the end of 2022. Over the 2022 calendar year, national rents rose by 6.7%, up from a 4.7% increase the previous year.