How Canberra's COVID-19 lockdown is impacting the capital's property market
3 years, 3 months ago

How Canberra's COVID-19 lockdown is impacting the capital's property market

ABC  

Cracking into Canberra's property market was already a struggle, but the current lockdown has made buying a home even more difficult. "Over the past four weeks we have seen the new listings count across the ACT fall by 16 per cent," CoreLogic's head of Australian research Eliza Owen said. Homes that have been on the market during the lockdown have been selling, with many agents reporting a 100 per cent virtual auction clearance rate. "The clearance rates on virtual auctions have been very high and a lot of those have been to purchasers who have been unable to physically inspect the property," Mr Bright said. The practice also occurred during last year's lockdown, to help filter out serious buyers from the "sticky beaks" in a crowded virtual room.

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History of this topic

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows
3 weeks, 2 days ago

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows

ABC  

National home prices are losing momentum and anticipated interest rate cuts are unlikely to stop falls in house prices next year. New CoreLogic data shows house prices increased 0.1 per cent nationally in the last month of spring — the weakest Australia-wide result since January 2023. Brett D'Souza says he "made mistakes" when he tried to sell his home without …

CoreLogic data suggests cost of buying a house in Canberra is stabilising as units decrease in value
3 months, 3 weeks ago

CoreLogic data suggests cost of buying a house in Canberra is stabilising as units decrease in value

ABC  

The latest data on home values suggests the cost of buying a home in Canberra is stabilising. Only Sydney is a more expensive city for houses, with Canberra's median value just shy of $968,000, a dip of 0.3 per cent in the last month. The data suggested Canberra's units, however, are decreasing in value, down 2.3 per cent over the …

CoreLogic house price data shows home values still rising but growth is slowing
3 months, 3 weeks ago

CoreLogic house price data shows home values still rising but growth is slowing

ABC  

In what will be disappointing news for first home buyers, Australian house prices have continued to rise over the past month, according to new data. Average dwelling values climbed by 0.5 per cent in August, the 19th consecutive monthly increase in house prices tracked by CoreLogic's Home Value Index. Australia's capital cities were evenly split on house price rises and …

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 …

Latest figures show huge change to Australia's property market compared with a year ago
7 months ago

Latest figures show huge change to Australia's property market compared with a year ago

Daily Mail  

Homeowners are becoming more confident about putting their properties on the market, with the latest figures showing 40 per cent more homes available than there were 12 months ago. The latest PropTrack listings report revealed the Aussie property market saw the strongest new listings for the month of April since 2021 'If we look in Sydney and Melbourne, the number …

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city
10 months, 2 weeks ago

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city

ABC  

Three capital cities continue to power the national property market, with prices rising by 0.4 per cent in January to start off the new year. Brisbane Monthly change: 1 per cent increase 1 per cent increase Brisbane median house value: $888,628 $888,628 Median unit value: $568,595 It was the pockets on the outer fringe of Brisbane that recorded the biggest …

Housing Boom and Bust Report tips property price to fall in 2024 as interest rates weigh
1 year, 1 month ago

Housing Boom and Bust Report tips property price to fall in 2024 as interest rates weigh

ABC  

Australian real estate is set for a double-dip downturn, according to a leading analyst, as interest rates finally weigh on property prices and for-sale listings surge. Key points: SQM Research is forecasting flat to falling home prices for most cities except Perth and Brisbane in 2024 High interest rates, rising unemployment and an increase in distressed sales are expected PropTrack …

Sydney housing crisis: Newtown home sells in just three minutes - $360,000 above asking price
1 year, 9 months ago

Sydney housing crisis: Newtown home sells in just three minutes - $360,000 above asking price

Daily Mail  

It sold for $360,000 above the reserve price at the auction One family forked out $3.11million for the Newtown house An auction for a Sydney home wrapped in three minutes An auction for an 'unusual' city home has ended in mere minutes and gone $360,000 above the reserve price - showing at least some places appear to be immune to …

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area
1 year, 11 months ago

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area

ABC  

Australian housing prices were down 5.3 per cent over 2022, marking the first time housing values have fallen over the calendar year since 2018. Regional South Australia was the stand-out for growth conditions with values up 17.1 per cent through 2022, while regional markets in NSW and Victoria both saw annual falls. Queensland Queensland saw mixed results with its housing …

The Australian suburbs that have recorded the largest value declines since COVID-19 hit
2 years ago

The Australian suburbs that have recorded the largest value declines since COVID-19 hit

ABC  

It's known as the "COVID housing boom": Australia's house and unit prices went wild as the pandemic set in. Sydney's inner-city suburbs of Darlinghurst, Surry Hills, Forest Lodge and Redfern recorded the sharpest falls in median house values since the pandemic hit, CoreLogic figures show. Many economists have predicted further house price falls in 2023, with AMP's veteran chief economist …

The housing market seems out of control. But there are lots of things we could do
2 years, 4 months ago

The housing market seems out of control. But there are lots of things we could do

ABC  

I am dumber than our house. If you own a house, higher property prices may make you feel richer even though it's difficult to "realise" that profit. Even though there are thousands of housing markets across Australia — and prices can swing markedly even within small suburbs — most have risen at a consistent rate in recent decades. With two-thirds …

Melbourne house prices could plunge by $135,000 by end of 2023 as AMP Capital issues forecast
2 years, 6 months ago

Melbourne house prices could plunge by $135,000 by end of 2023 as AMP Capital issues forecast

Daily Mail  

Melbourne house prices could tumble by as much as $135,500 in just 18 months, according to one financial expert. Melbourne house prices could tumble by as much as $135,500 in just 18 months, according to one financial expert Mr Oliver's prediction comes as the Big Four banks issued their forecasts warning the housing market could drastically drop in value by …

Property boom over in Sydney and Melbourne — but prices still rising elsewhere
2 years, 8 months ago

Property boom over in Sydney and Melbourne — but prices still rising elsewhere

ABC  

The housing boom in Sydney and Melbourne seems to be over, with house prices in both cities falling last month, despite a national uptick in the monthly growth rate. Key points: National home values rose 0.7 per cent in March, according to CoreLogic Brisbane, Adelaide and regional had the biggest rises Prices in Sydney and Melbourne fell, lagging well behind …

Australian house prices keep growing but Sydney posts first fall in 17 months
2 years, 9 months ago

Australian house prices keep growing but Sydney posts first fall in 17 months

ABC  

Australian property prices continued to race upwards last month, but the nation's two biggest cities have started lagging well behind. Key points: Home values rose 0.6 per cent nationally in February according to CoreLogic Brisbane, regional and Adelaide had the biggest increases Sydney prices fell for the first time in 17 months with Melbourne values flat For the first time …

Australian property prices surged 22pc last year, its biggest jump since the 1980s
2 years, 11 months ago

Australian property prices surged 22pc last year, its biggest jump since the 1980s

ABC  

Record low interest rates have driven Australian housing prices up 22 per cent last year — its sharpest rise in three decades. Key points: Housing prices rose 1 per cent nationally in December, with regional markets up 2.2pc and capital cities 0.6pc Hobart had the biggest capital city price increase over the past year while Perth had the smallest rise …

Bundaberg's housing market booms as city dwellers escape lockdowns
3 years, 3 months ago

Bundaberg's housing market booms as city dwellers escape lockdowns

ABC  

City dwellers hunting for their slice of bush paradise to escape pandemic lockdowns in larger cities are creating a property boom in the south-east Queensland city of Bundaberg. "The year ending May 2020 in Walkervale, the average price was $204,601 and then by May 2021, the average house median value is $249,000, that's gone up 21 per cent." "The problem …

Canberra COVID-19 cluster grows to 28 as ACT lockdown extended for two weeks
3 years, 4 months ago

Canberra COVID-19 cluster grows to 28 as ACT lockdown extended for two weeks

ABC  

The ACT has recorded 19 new locally acquired cases of COVID-19, taking the total number of active cases in Canberra to 28. Key points: One of the confirmed cases is a worker at an aged care facility who was infectious at work for three days One of the confirmed cases is a worker at an aged care facility who was …

Price gap between units and houses in Canberra the largest in the country
3 years, 4 months ago

Price gap between units and houses in Canberra the largest in the country

ABC  

The national capital now holds another title: the city with the largest price gap between units and houses in Australia. Key points: Since the onset of the COVID-19 pandemic, ACT house prices have increased more than 20 per cent For every house constructed in Canberra, there are 5.5 units built In June, Canberra's median house price was nearly $880,000, while …

House prices keep surging, real estate likely to shrug off short COVID lockdowns, CoreLogic says
3 years, 5 months ago

House prices keep surging, real estate likely to shrug off short COVID lockdowns, CoreLogic says

ABC  

Australia's house price surge has continued into winter, but there are early signs momentum might be coming out of the market, and not due to snap COVID lockdowns. Key points: Dwelling prices rose 1.9 per cent nationally over June, with similar growth rates in capitals and the regions Housing values rose 13.5 per cent over the financial year just ended …

Canberra gains more than a dozen 'million-dollar suburbs' in two years as house prices rise rapidly
3 years, 7 months ago

Canberra gains more than a dozen 'million-dollar suburbs' in two years as house prices rise rapidly

ABC  

If you are trying to enter the Canberra property market and feel it is getting much harder, much quicker — you are right. Key points: The median house price in more than a quarter of Canberra's suburbs now exceeds $1 million Analysts say the ACT's high incomes and a reduced supply of properties are feeding the boo- Soaring prices are …

Housing boom may be halted by regulators or economic trends, analysts warn
3 years, 8 months ago

Housing boom may be halted by regulators or economic trends, analysts warn

ABC  

Some analysts are warning that Australia's multi-decade property boom may be about to end, but most agree that will not happen this year with double-digit house price growth widely expected in 2021. Key points: Property prices could increase by double digits this year, analysts say The trend could continue until the end of 2022 However, after that, there's a chance …

Housing again at forefront of Australia's economic growth, making banks happy
3 years, 8 months ago

Housing again at forefront of Australia's economic growth, making banks happy

ABC  

That's how Commonwealth Bank's boss described Australia's economic recovery last week. Mr Comyn said about 20 per cent of first home buyers were relying on guarantors to secure their loans with CBA, and "about half of those would be guarantees provided by parents" or family members. Shayne Elliot, ANZ chief executive Last month, ANZ's economics team said house prices could …

House prices rising at fastest pace in 32 years as listings can't keep up with demand: CoreLogic
3 years, 8 months ago

House prices rising at fastest pace in 32 years as listings can't keep up with demand: CoreLogic

ABC  

Australian house prices are rising at the fastest pace in 32 years, as the Sydney and Melbourne property markets stage a full recovery from the short-lived COVID downturn. Key points: Home values in Sydney, Melbourne, Hobart, Canberra and Brisbane are at record highs Capital city price rises outpaced regional markets for the first time in a year Some economists expect …

Perth property prices surge as Kwinana, Mandurah, Belmont, Victoria Park lead the way
3 years, 9 months ago

Perth property prices surge as Kwinana, Mandurah, Belmont, Victoria Park lead the way

ABC  

Jessica Hawes and her fiance Callan Bennett sold their Parmelia property in Perth's south last week for $115,000 above what they paid for it in September 2019, thanks to a huge house price boom in the area and across the country. Key points: Some Perth real estate agents are recording big increases in activity Urgency among buyers is being reported …

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 are hitting record highs in Adelaide, and buyers are feeling the pinch
3 years, 10 months ago

House prices are hitting record highs in Adelaide, and buyers are feeling the pinch

ABC  

Adelaide's housing market had often been considered an affordable option when compared to the eastern states, but buyers are becoming bewildered at the increasing price of property and level of competition. Key points: Adelaide's property prices hit a record high in the most recent quarter Experts say that's good news for sellers, but buyers are struggling to get into the …

Why Australia's property prices will continue to soar
3 years, 10 months ago

Why Australia's property prices will continue to soar

ABC  

Across the suburbs, they're lining up for home inspections. A fortnight ago, Australian real estate prices lurched back into record territory — and there is no end in sight. With interest rates locked in at a whisker above zero — and with Reserve Bank assurances they'll stay put for the next four years — it's little wonder buyers are scrambling …

House prices to surge in Australian capital cities, driven by 'aggressive' Government stimulus
4 years ago

House prices to surge in Australian capital cities, driven by 'aggressive' Government stimulus

ABC  

House prices, which are already making a strong recovery from the COVID-19 recession, are likely to inflate further in 2021. Key points: Perth, Sydney and Adelaide are expected to see the biggest price rises next year Australian borrowed $22.7b in October to buy property It was driven by first home owners and the HomeBuilder stimulus program Australia's capital cities may …

Australian property bubble hasn't yet burst, but can house prices keep rising amid the pandemic?
4 years, 1 month ago

Australian property bubble hasn't yet burst, but can house prices keep rising amid the pandemic?

ABC  

After years of dire predictions that Australia's property bubble could burst, national house prices continue to withstand the otherwise devastating impact of the coronavirus pandemic, and once again the doomsayers have been proven wrong. It's a question I asked AMP Capital chief economist Shane Oliver, who in late March at the onset of the pandemic in Australia, had warned that …

CoreLogic property value index finds 'remarkable' rise in house prices for October
4 years, 1 month ago

CoreLogic property value index finds 'remarkable' rise in house prices for October

ABC  

House prices across Australia have risen overall for the first time since the start of COVID-19. Key points: House prices were up nationally in October It follows five months of national declines during the coronavirus pandemic Melbourne is the only capital city market that did not record a rise in values in October Monthly data from CoreLogic shows that, as …

House prices to bounce back in 2021 after modest falls during coronavirus pandemic, CBA predicts
4 years, 3 months ago

House prices to bounce back in 2021 after modest falls during coronavirus pandemic, CBA predicts

ABC  

Australia's biggest home lender says house price falls so far during the pandemic have been surprisingly small, and its internal modelling is predicting a quick rebound everywhere except Melbourne. Key points: CBA is now forecasting a 6 per cent fall in capital city property prices due to COVID-19, down from 10 per cent initially But the bank warns that Melbourne …

Melbourne leads house price falls as other markets stabilise from coronavirus dip
4 years, 3 months ago

Melbourne leads house price falls as other markets stabilise from coronavirus dip

ABC  

Melbourne's property market has taken another big hit during August, with price declines more than twice those seen in any other capital city around the country. Key points: Melbourne home prices fell 1.2 per cent last month, but remain 5.9 per cent up over the past year Most cities saw either modest gains, flat prices or a slower rate of …

Coronavirus pandemic fails to impact Sydney's auction market with more homes sold than same time last year
4 years, 3 months ago

Coronavirus pandemic fails to impact Sydney's auction market with more homes sold than same time last year

ABC  

The coronavirus pandemic has failed to dampen Sydney's property market, with more homes selling at auction compared to this time last year. Key points: Sydney has seen a steady decline in home values but the number of auctions have increased The highest clearance rates are in the northern beaches, Sutherland and inner west Vendors are selling now ahead of a …

Canberra's house prices are reaching record highs during the COVID-19 pandemic. Here's why
4 years, 3 months ago

Canberra's house prices are reaching record highs during the COVID-19 pandemic. Here's why

ABC  

The global health crisis is crippling economies across the world and Australia's real estate market is feeling it too — but not in Canberra, where values are going up. Canberra real estate agents say with a lot of buyers, houses are being snapped up fast — many above market value. Canberra real estate agent Shaun Iqbal says low supply and …

Home prices ease in July but there are warnings of bigger falls ahead
4 years, 4 months ago

Home prices ease in July but there are warnings of bigger falls ahead

ABC  

Australian home prices fell 0.6 per cent last month, with the biggest declines in Melbourne as the impact of the second wave of COVID-19 was being felt. Key points: Home prices nationally fell 0.6 per cent in July, with a 0.8 per cent average decline for capital cities and flat prices in the regions Melbourne and Sydney had the biggest …

COVID-19 no obstacle to Coffs Harbour real estate, with rental vacancies tight and sales strong
4 years, 5 months ago

COVID-19 no obstacle to Coffs Harbour real estate, with rental vacancies tight and sales strong

ABC  

When the COVID-19 pandemic first washed across Australia one of the immediate economic fears was for the property market, particularly in regional areas like Coffs Harbour on the New South Wales North Coast. Key points: Rental vacancies in Coffs Harbour have fallen to 2.4 per cent Local real estate agents report strong sales despite the COVID-19 economic slowdown The Federal …

Coronavirus likely to see Sydney house prices fall for 18 months, economist warns
4 years, 5 months ago

Coronavirus likely to see Sydney house prices fall for 18 months, economist warns

ABC  

Sydney's property prices will inevitably fall for 18 months — and "maybe even beyond that" — because of coronavirus, an economist has warned. Key points: Demand for rental properties in Sydney has been declining Demand for rental properties in Sydney has been declining Economist Sarah Hunter says landlords could look to sell, but prices could decline for 18 months Economist …

How bad is COVID for house prices compared to other great crashes of history?
4 years, 5 months ago

How bad is COVID for house prices compared to other great crashes of history?

ABC  

Experts say a decline in Australian house prices since the beginning of the COVID-19 pandemic is not yet anywhere near as steep as other historic market crashes, but this time there's little ammunition left to blast the economy — and the real estate industry — out of a trough. "Through the second half of 2019 the market was very much …

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