Higher borrowing costs have taken a large bite out of property prices in recent months, and with more rate hikes to come we likely haven’t seen the bottom of this current downturn.
A proposed merger between Newcastle Permanent and Greater Bank received the green light from members this week, laying the groundwork for the creation of Australia’s largest customer-owned bank.
Australian property has been swept with a cascade of market falls, dragging prices down in 80% of the country. But a new housing report from QBE highlights a surprisingly simple way to add up to 10% to the value of your home: energy-efficient features.
The Reserve Bank of Australia (RBA) has delivered an aggressive series of hikes to the cash rate for the last six months, bringing up the average variable rate home loan by more than 2% p.a. Now, official interest rates sit at 2.60%, which the RBA considers ‘neutral’ territory.
A new report from the Australian Bureau of Statistics (ABS) confirms the Boomers have had it easier, aptly named 'Back in my day' .
At a time when rent prices are boiling over and homebuyers are being priced out of the areas they work in, Labor’s Federal Budget for 2022-23 provides a modicum of hope for the future of affordable housing.
Six consecutive months of interest rate hikes have taken a heavy toll on the Australian property market, with Sydney home values falling by 10.1% — the equivalent of $116,500 — since hitting their peak in February this year.
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Australia has seen a significant decrease in rental properties available under $400 per week, says a new PropTrack Market report.
The Reserve Bank of Australia has lifted interest rates at a rapid pace this year, most recently by 0.25% at its October meeting. Economists at all four major banks expect the tightening cycle to continue as the central bank ramps up its efforts to tame inflation.
Australian property has had a bumpy year, with falling prices, rising interest rates, and slowing sales leading to an overall cooler market than we started with in 2022. Many buyers have sensed a promising window of opportunity, but is now really a good time to buy in?