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…
Sydney house prices headed towards a double-dip downturn
Sydney’s housing market could be on course for a double-dip downturn as early as next month, after prices slowed faster than expected in November, sparked by the Melbourne Cup interest rate rise and a large lift in listings, CoreLogic data shows. Home values in the city lifted by 0.3 per cent during the month, which…
FOMO returns amid high migration and supply shortage
Expectations of strong capital growth and robust rental increases fuelled by record migration are enticing a growing pool of property investors like Marc Woolfson back into the market, despite higher interest rates. “I think there are really good opportunities for property values to increase strongly due to limited housing supply and high migration,” he said. Melbourne-based…
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…
Average new Aussie first-home buyer won’t get into property market until 2049: Finder
Those who start saving today have a mountain to climb before they can buy a home, new research suggests. A first-home buyer who started saving a deposit for the average Aussie house would only have enough money to get a loan by the year 2049, new modelling of earnings and prices reveals. It would be…
Light rail extension from Broadbeach to Burleigh breaks ground, supporting over 700 good jobs
Statement Minister for Transport and Main Roads The Honourable Mark Bailey Major construction is underway on Gold Coast Light Rail Stage 3 (GCLR3), with upgrades to the Southport depot and essential underground services in Broadbeach and Mermaid Beach. Traffic changes are taking place on the Gold Coast Highway to relocate and upgrade major water main,…