News Release Wednesday 13th March Melbourne, Australia: More than one quarter of all residential properties purchased across Australia’s three largest states were funded entirely with cash in 2023, with buyers immune to recent interest rate hikes, according to a new report released by PEXA today. PEXA’s 2023 Cash Purchases Report found the total value of cash-funded residential sale…
Unit prices forecast to outpace houses in coming years
Australia’s housing market is at an ‘inflection point’ with deteriorating affordability and increased stock causing price growth to moderate, according to a new report. These factors are expected to drive a softer pace of home price growth of 2.7% nationally in 2024 – around half that of the 5.52% annual growth recorded in 2023 – before bouncing…
World-class Woolloongabba Urban Renewal – Brisbane 2032 Olympics
The State Government has announced that the largest urban renewal since South Bank is firmly underway with the Gabba Stadium Project Validation Report (PVR) complete, community consultation on the urban renewal started and a new name on the table. Deputy Premier Steven Miles is asking the community what they think of “East Bank”, as the…
Howard Smith Wharves’ Next Chapter: Plans Unveiled for the Riverside Precinct
Sketch drawing of what the new Howard Smith Wharves plan would look like The Howard Smith Wharves (HSW) precinct is about to embark on a new $20 million transformation, further enhancing its status as one of one of Brisbane’s most vibrant destinations. HSW Nominees Pty Ltd, the entity behind the wharves project has submitted a…
Brisbane home prices hit new record high, gaining on Melbourne
BRISBANE has led the nation in home price growth over the past month, with values hitting a new record high as homeowners brace for a potential rate hike next week, a new report reveals. Proptrack’s Home Price Index, released today, shows the city’s unit and house prices combined gained another half a per cent in…
Queensland property continues to shine on: REIQ
Queensland property keeps proving itself to be a shining performer, according to quarterly median sales results released by the Real Estate Institute of Queensland (REIQ) today. The June 2023 quarter (April – June 2023) revealed that many of the Sunshine State’s property markets remain in an enviable position, with statewide median house prices rising by…