Strong price growth has returned to Sydney and Melbourne and is expected to spread to more affordable Brisbane, according to CBRE research. While the devastating coronavirus outbreak has cast a shadow over the economy in the opening months of this year, CBRE’s 2020 market outlook report says Australia’s residential markets have, to date, started the…
Apartment Supply Shortage to Hit by 2022
Slumping numbers of new apartments under construction could force an undersupply by 2022, property advisory group Charter Keck Cramer has forecast. The demand-supply imbalance, according to Charter Keck Cramer’s quarterly state of the market, is largely due to population growth and anaemic construction activity. In Australia’s biggest cities prices have strongly rebounded, with Melbourne lifting by 1.2 per cent over January,…
Major Infrastructure Projects Kicking Off Development
Population growth, congestion in capital cities, transport and arterial roads, as well as the need to improve regional connectivity has continued to drive record levels of spending on major infrastructure projects across Australia. More than $123 billion of construction work has commenced since 2015, with a committed forward pipeline of more than $200 billion aiming to build…
2020 Property Market Recovery ‘Fastest Ever’: Corelogic
Australia’s housing market looks set to make a full recovery by April after reaching its bottom last year, with the latest market research showing owner-occupiers lead the charge. National dwelling values bottomed out 8.4 per cent below their peak in June 2019, with the market since recovering 6.7 per cent. While most recovery periods match the length…
Western Sydney Airport Bridge Completes Construction
A new bridge at Western Sydney Airport, as wide as Sydney’s Harbour Bridge at 49 metres, marks the completion of the first phase of construction on the new airport at Badgerys Creek. The bridge to Badgerys Creek, which opened on Monday, was built as part of initial earthworks on the Airport site. Stage one of construction…
House Price Rebound Gives the Reserve Bank Pause
The Reserve Bank has decided to hold the cash rate steady at 0.75 per cent despite growing expectations of further rate cuts over coming months. The rate remained unchanged from the record low in October 2019, which was largely anticipated by market analysts. RBA governor Philip Lowe said the global economic outlook remained reasonable. “There…
