Great news for homeowners, bad news for home buyers: Domain says house and unit prices in Australia’s capital cities will fully recover value lost in the 2022 downturn by the end of 2023 – in two months.
Like many other developed nations, Australia is grappling with a housing crisis. The combination of soaring rental rates, a growing number of single-occupant households, and increasing migration levels have resulted in a severe shortage of affordable housing options, creating a supply-demand imbalance.
Usually, the property market leans one way or another. It’s either great for sellers seeking capital gains because there’s lots of competition, or it’s great for buyers because there are a lot of homes for sale and not much demand – meaning you could grab a property with a cheaper home loan.
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To sell or not to sell… that is the question. Generally, when it comes to investing in anything, time in the market is advised over timing the market. However, due to the seasonality of the property market, knowing the best time to sell could mean a significant difference in total returns. So have we passed that date, or is it still on the horizon?
Despite the Reserve Bank of Australia (RBA) holding the cash rate at 4.10% since June 2023, home loan lenders continue to chop and change their interest rates, meaning new opportunities for borrowers to refinance are always cropping up.
Confused about how a home loan works? You’re not alone. Google is full of silly and awkwardly worded questions about mortgages and the property market, so let’s have another look at some of the funniest – and get some serious expert answers.
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Australia’s national rental vacancy rate fell 0.6% down to 1.06% in September according to the latest PropTrack Market Insight Report. It also found that vacant properties are now 55% below March 2020 levels.
Saving and spending are two key parts of money management. Right now, we’re in a high-interest-rate environment, meaning home loans, savings accounts, and term deposits are all much loftier than they used to be.
First home buyers might have a window of opportunity to get on the property ladder with a smaller home loan. Domain reports that median unit prices have fallen in some of Sydney’s hottest suburbs, such as Glebe, Chippendale, and Redfern, by -10% to -19% in the last five years.
CoreLogic's September Home Value Index (HVI) recorded a 2.2% growth in national home prices over the quarter, but zooming in to focus on the nation’s capitals reveals one city is resisting the trend.