Real estate industry warns of 'perfect storm' for renters and investors
3 years, 4 months ago

Real estate industry warns of 'perfect storm' for renters and investors

ABC  

Single mum of three Alicia Johns spends almost half her weekly income on rent. Key points: The Real Estate Institute of Tasmania warns that as the state's housing market become less appealing to investors, it will put pressure on rent prices Its latest report shows that while rents are increasing, they're failing to keep up with the rising house market It could force landlords to either flee the market or further increase rents "It's tight … we just budget," she said. Ms Welling said the much-discussed rental caps, would see investors "flee the market" and lower returns on investments could also drive them away. "When we start to see things calm down, I think we can expect to see a considerable amount of people make their way to Tasmania," Ms Welling said. "I know a lot of people … think that this is a fantastic time for real estate agents … but it is very tough as well," she said.

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History of this topic

What Rachel Reeves’s Budget really means for the housing market
1 month, 3 weeks ago

What Rachel Reeves’s Budget really means for the housing market

The Independent  

Rachel Reeves’s measures in the Budget will undoubtedly have an impact on homeowners, aspiring buyers and landlords – but there were probably fewer drastic changes than many people anticipated. In a move that directly targets landlords and wealthier homeowners, the chancellor confirmed that stamp duty for second homes will increase from 3 per cent to 5 per cent from 31 …

‘Buyers’ market’ as property asking prices rise more slowly than usual
2 months ago

‘Buyers’ market’ as property asking prices rise more slowly than usual

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Tim Bannister, Rightmove’s director of property science said: “This …

Real estate agents weigh profits against prices as property market finds yet another gear
6 months, 1 week ago

Real estate agents weigh profits against prices as property market finds yet another gear

ABC  

In short: The Australian property market appears to have shifted up another gear. "I think we will probably be in a situation where we're no longer seeing such astronomical price growth in a couple of years from now," said CoreLogic's head of research, Tim Lawless. "And that lack of available supply, against what seems to be quite high demand, is …

'I don't think it's a Ponzi scheme,' economist says, as median property values rise by $63,000
9 months ago

'I don't think it's a Ponzi scheme,' economist says, as median property values rise by $63,000

ABC  

In short: The price of the median national dwelling has reached an all-time high of $765,762, according to CoreLogic. Over the past 12 months, CoreLogic's Home Value Index has risen 8.9 per cent, as demand exceeds supply. CoreLogic's interactive Mapping the Market tool found that 88.4 per cent of the 4,625 house and unit markets analysed nationally saw values rise …

Depressing statistic that will have young Sydneysiders wanting to move to Melbourne
11 months, 2 weeks ago

Depressing statistic that will have young Sydneysiders wanting to move to Melbourne

Daily Mail  

Rents continued to grow in every capital city in the last months of 2023, but economists say there could be some relief on the horizon. The latest PropTrack Market Insight report found the median national rent has continued on its meteoric rise, increasing 1.8 per cent over the December quarter to $580 per week. This is an 11.5 per cent …

Buying a home is now 52% MORE expensive than renting one, new analysis finds, with typical mortgage payment $1.1K higher than rent
1 year, 2 months ago

Buying a home is now 52% MORE expensive than renting one, new analysis finds, with typical mortgage payment $1.1K higher than rent

Daily Mail  

Americans buying property are now paying 52 percent more on mortgage payments than the average cost of renting a home - the highest premium for buying since at least 1996. The average cost of a new lease for a family home was around $2,184 in the third-quarter of this year, according to research by real estate intelligence firm CBRE In …

High rental growth likely to ease from 2024 as RBA reaches end of interest rate hikes
1 year, 5 months ago

High rental growth likely to ease from 2024 as RBA reaches end of interest rate hikes

ABC  

High rental growth is likely to ease from next year as the Reserve Bank of Australia signals it is near the end of its current interest rate hiking cycle and inflation begins to moderate. Key points: CoreLogic analysis expects rental growth will begin to ease from 2024 as the RBA nears the end of its current monetary tightening cycle It …

National rental prices rise by 2.5 per cent as market battles high migration-led demand and housing supply shortages
1 year, 5 months ago

National rental prices rise by 2.5 per cent as market battles high migration-led demand and housing supply shortages

ABC  

National rent prices have risen by 2.5 per cent in the three months to June, as the rental market battles rising demand driven by overseas migration, a chronic shortage of available properties, and tight vacancy rates. Key points: CoreLogic data shows rental prices remain above average levels but rental growth is moderating Stronger than expected demand from migration and a …

There is a perfect storm brewing for the housing market and it could make buying your own home a pipedream
1 year, 7 months ago

There is a perfect storm brewing for the housing market and it could make buying your own home a pipedream

ABC  

This isn't supposed to be happening. It's now entirely possible the Reserve Bank won't get inflation down to 2-3 per cent, regardless of whether it raises interest rates again. It went into orbit through the pandemic, as the RBA slashed interest rates to a whisker above zero, and returned to Earth after the reserve bank began its savage series of …

House prices rise for the first time in 11 months in March, while chronic rental shortage continues
1 year, 8 months ago

House prices rise for the first time in 11 months in March, while chronic rental shortage continues

ABC  

Property prices have gone up nationally for first time in 11 months, despite rising interest rates. Key points: CoreLogic's national property price index rose for the first time since April 2022 Sydney led the monthly gains, while Hobart's home prices continued to drop sharply A federal report is predicting a shortfall of more than 100,000 homes within the next five …

Rents rising at slower pace despite 'record high' 10pc surge last year, CoreLogic says
1 year, 11 months ago

Rents rising at slower pace despite 'record high' 10pc surge last year, CoreLogic says

ABC  

Australian landlords passed on their biggest-ever rent increases in 2022, and the cost-of-living situation is unlikely to ease significantly for tenants in coming months. Key points: Rents have been rising at a slower pace in the past six months Rental vacancies are still very low New rental listings hit a 10-month high last month Last year, the nation's median rent …

Tasmanian property investor drop 'a worry' for the rental market, REIT says
2 years, 4 months ago

Tasmanian property investor drop 'a worry' for the rental market, REIT says

ABC  

There are growing concerns a drop in investors buying into Tasmanian real estate could further shrink the availability of rental properties in the state. Key points: Overall, Tasmanian house sales have continued to trend down for the second consecutive quarter Despite the falls, property sales for the June quarter were still slightly above the 10-year average of 1,739 properties Mary …

Tasmania's housing market frenzy may be over, but prices still at an all-time high
2 years, 7 months ago

Tasmania's housing market frenzy may be over, but prices still at an all-time high

ABC  

There are signs Tasmania's real estate market has started to soften, with the Real Estate Institute of Tasmania's March quarterly report indicating the number of property sales has dropped. Key points: The number of properties sold across Tasmania decreased by 10.5 per cent Real estate agent Hank Petrusma said "people are being a bit more selective" But the value of …

House price rises may be slowing and more property is on the market
2 years, 8 months ago

House price rises may be slowing and more property is on the market

Dutch News  

There are tentative signs that the rise in house prices may be slowing down, with the average sales price falling 2.1% in the first quarter of this year, compared with the final three months of 2021, according to real estate agents association NVM. Nevertheless, NVM-affiliated estate agents have only sold 29,000 homes so far this year, which is down almost …

House price rises may be slowing and more property is on the market
2 years, 8 months ago

House price rises may be slowing and more property is on the market

Dutch News  

There are tentative signs that the rise in house prices may be slowing down, with the average sales price falling 2.1% in the first quarter of this year, compared with the final three months of 2021, according to real estate agents association NVM. Nevertheless, NVM-affiliated estate agents have only sold 29,000 homes so far this year, which is down almost …

Australian property prices post biggest monthly gain in 17 years
3 years, 9 months ago

Australian property prices post biggest monthly gain in 17 years

Al Jazeera  

Australia’s housing market is booming again, with the biggest monthly price gain in 17 years dispelling fears of a Covid-induced downturn. The rapid gains have been “spurred on by a combination of record-low mortgage rates, improving economic conditions, government incentives and low advertised supply levels.” While housing prices are surging from Singapore to Canada and the U.S., a return to …

House prices record sharpest increase since 2003, CoreLogic says
3 years, 9 months ago

House prices record sharpest increase since 2003, CoreLogic says

ABC  

Australian house prices have posted their sharpest monthly increase since August 2003, with analysts at CoreLogic saying the market is now entrenched in one of its strongest growth phases on record. Key points: Capital city home prices rose 2 per cent and regional prices rose 2.1 per cent in February Sydney and Hobart led the capital city rises, up 2.5 …

Warning Perth in 'rental crisis' as residential vacancy rate slumps to lowest level in 13 years
4 years, 2 months ago

Warning Perth in 'rental crisis' as residential vacancy rate slumps to lowest level in 13 years

ABC  

Western Australia's peak real estate body has warned Perth is in a "rental crisis" after the city's residential vacancy rate fell below 1 per cent for only the third time in 40 years. Key points: Perth's residential vacancy rate is at its lowest mark since March 2007 REIWA says Perth could run out of available rentals in early 2021 The …

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