Proof Australia's housing market has gone mad: The awkward detail in this photo of a house that sold for $3million
8 months ago

Proof Australia's housing market has gone mad: The awkward detail in this photo of a house that sold for $3million

Daily Mail  

A Sydney home that prospective buyers weren't able to physically inspect because it was missing almost all its roof has sold for close to $3m. The three bedroom home at 89 Fitzroy St in Sydney's inner west suburb of Burwood sold for $2,750,000 earlier this month. A Sydney home that prospective buyers weren't able to physically inspect because it was missing almost all its roof has sold for close to $3m 'Please note: Internal inspections will not be permitted as the property does not meet health & safety requirements,' the listing read. 'Available for the first time in more than 60 years, now offering a rare opportunity to purchase at land value in one of Burwood's most highly desirable streets,' the listing read.

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History of this topic

New data reveals a record number of Australian homes surpassed $1 million property value mark
2 months, 4 weeks ago

New data reveals a record number of Australian homes surpassed $1 million property value mark

ABC  

A record number of Australian suburbs now have a median house or unit value above $1 million, according to a new report. New data from CoreLogic shows 29.3 per cent — or 1,057 — of the nearly 4,800 suburbs surveyed across the country now have a million-dollar median. Apollo Bay was one of two regional Victoria suburbs that saw median …

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 …

This rundown property is unlivable... but it just sold for a staggering amount above reserve - in another sign of Australia's dire housing market
6 months ago

This rundown property is unlivable... but it just sold for a staggering amount above reserve - in another sign of Australia's dire housing market

Daily Mail  

A dilapidated house in Sydney's east has sold at auction for $800,000 over its reserve price in yet another example of Australia's dire housing market. This run-down property in Sydney's east sold for $2.6million on the weekend The house features uneven floors, peeling paint, tiles missing and part of ceiling has collapsed In a similar auction also on Saturday, a …

Extraordinary rise in value of Aussie homes - here are the states with the largest jumps
6 months, 2 weeks ago

Extraordinary rise in value of Aussie homes - here are the states with the largest jumps

Daily Mail  

The combined value of Australian residential dwellings soared to a record $10.7trillion in the March quarter, according to new Australian Bureau of Statistics data. On Tuesday, the ABS reported that the total value of homes in Australia rose by $209.4billion in the first quarter of 2024, bringing the average home value to $959,300, up $14,300 in just three months. Across …

CoreLogic house price data show Brisbane overtaking Melbourne and Canberra as Australia's second priciest city
6 months, 3 weeks ago

CoreLogic house price data show Brisbane overtaking Melbourne and Canberra as Australia's second priciest city

ABC  

In short: CoreLogic data shows property prices grew by 0.8 per cent during May, making it the largest monthly increase since October last year. CoreLogic data shows property prices grew by 0.8 per cent during May, making it the largest monthly increase since October last year. However, Brisbane has now become the second-most expensive city for housing in the country, …

Brisbane sheds its sleepy image with surging house values — now only second to Sydney
6 months, 3 weeks ago

Brisbane sheds its sleepy image with surging house values — now only second to Sydney

ABC  

So, you still think of Brisbane as the sprawling, steamy, sleepy backwater in Australia's deep north? There's such a shortage of houses and units that anyone with the means to buy – locals, along with the 116,260 new arrivals from overseas and interstate last year – is camping out in crappy rentals across the city, doom scrolling on real estate …

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 …

Where in Australia house prices are surging the most... and the so-called 'affordable' market where prices climbed by just $140,000
8 months, 3 weeks ago

Where in Australia house prices are surging the most... and the so-called 'affordable' market where prices climbed by just $140,000

Daily Mail  

House prices in Australia's capital cities have surged by up to 20 per cent in the past year as immigration hit an all-time high. In Perth, the median house price has surged by 20 per cent during the past year to $735,276 to still be Australia's most affordable mainland state capital city market, new CoreLogic data showed CoreLogic research director …

Price gap between houses and apartments widens to new record as land values surge in capital cities
10 months ago

Price gap between houses and apartments widens to new record as land values surge in capital cities

ABC  

In short: CoreLogic data shows the price gap between apartments and standalone houses has widened by 45 per cent since March 2020 and January 2024. "It's not like this is just Sydney or Melbourne pushing the numbers around, it's happening across every capital city to some extent," Mr Lawless said. Mr Lawless said the widening gap between house and unit …

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 …

The one mistake Aussies are making when buying a house - and the things you should be looking for
1 year ago

The one mistake Aussies are making when buying a house - and the things you should be looking for

Daily Mail  

Prospective property buyers are being told to avoid purchasing something because it is cheap with a wealth expert warning it could cost you in the long run. Pictured are houses in the West Australian town of Coolgardie where houses typically sell for less than $160,000 Property investment expert Brett Warren, the director of buyer's agent Metropole in Brisbane, said buyers …

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal
1 year, 8 months ago

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal

Daily Mail  

A worrying number of young Australians have given up on ever owning their home, a new survey has found. A Resolve Political Monitor poll published on Monday showed 54 per cent of respondents on middle incomes and 63 per cent in the low income bracket think they will never be able to afford their own home. Sydney's median house prices …

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 …

Real estate: Where you can still buy a home in a big city near the BEACH for less than $200,000
2 years ago

Real estate: Where you can still buy a home in a big city near the BEACH for less than $200,000

Daily Mail  

Australians can still buy a home for $200,000 in a major capital city right near a beach if they opt for an apartment instead of a house. Orelia in Perth's outer south is the most affordable metropolitan suburb with a median unit price of just $183,522, and it's only one suburb from Kwinana Beach, near Rockingham. Australians can still buy …

As rates rise again, Australia's average property prices are falling. Here's how steeply home prices are dropping across the nation
2 years, 1 month ago

As rates rise again, Australia's average property prices are falling. Here's how steeply home prices are dropping across the nation

ABC  

Australia's median property values dropped 1.2 per cent in October, to $721,018, a figure including both houses and apartments. Adelaide Change: 0.3 per cent decrease in October Adelaide median house value: $706,154 Median unit value: $436,462 CoreLogic data shows Adelaide values recorded a COVID-19 "trough to peak" growth of 44.7 per cent. Hobart Change: 1.1 per cent decrease Hobart median …

Australian house prices set to drop further as interest rates surge. Here's a round up of what's happening with property prices across Australia
2 years, 4 months ago

Australian house prices set to drop further as interest rates surge. Here's a round up of what's happening with property prices across Australia

ABC  

Australia's median property value has dropped by 2 per cent since the beginning of May, to $747,800— a figure that includes houses and apartments, the latest housing data shows. Adelaide: home prices up Change: 0.4 per cent increase in July Adelaide median house value: $705,634 Median unit value: $431,409 Corelogic data shows Adelaide dwellings have recorded a 24.1 per cent …

Australian house prices fall at 'fastest rate' since 2008 financial crisis
2 years, 4 months ago

Australian house prices fall at 'fastest rate' since 2008 financial crisis

ABC  

House prices in Australia are dropping at their fastest pace since the global financial crisis — and market conditions are "likely to worsen" as interest rates continue to rise, according to property analytics firm CoreLogic. Key points: Economists predict Australian house prices could fall between 12 and 20 per cent The median property value dropped 8.5pc during the GFC Rents …

The major Australian city where you can still buy a home for under $250k
2 years, 5 months ago

The major Australian city where you can still buy a home for under $250k

Daily Mail  

Home buyers on a budget can still snap up a property for under $250,000 in suburbs only a half-hour drive from Brisbane's city centre. At Woodridge, 23km south-west of central Brisbane, the middle price for an apartment is just $229,170, CoreLogic data showed Real estate agent Selene Bruynzeels there was an increase in interest from first-time buyers and investors in …

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 …

‘Ridiculous prices’: Australians’ home ownership dreams turn sour
2 years, 8 months ago

‘Ridiculous prices’: Australians’ home ownership dreams turn sour

Al Jazeera  

Some Australians see buying a home as increasingly out of reach after a near tripling of prices in the last 20 years. “If doesn’t put housing affordability on the agenda for the government, I don’t know what will,” Nicola Powell, chief of research and economics at property marketplace Domain Group, said in a recent press release. “We have got ourselves …

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 …

From a 'class divide' to 'intergenerational theft', Australia's real estate frenzy leaves many behind
3 years, 1 month ago

From a 'class divide' to 'intergenerational theft', Australia's real estate frenzy leaves many behind

ABC  

An un-renovated semi-detached home in Bondi sold recently for more than $2.7 million. The "mint original condition", three-bedroom home, up the hill from the famous Sydney beach, provides a window into the extraordinary escalation of Australian real estate prices. "What's really striking is the decline in the home ownership rate among people under the age of 45," says economist Saul …

Behind these doors lies a coastal house boasts some of the greatest ocean views in Australia
3 years, 2 months ago

Behind these doors lies a coastal house boasts some of the greatest ocean views in Australia

Daily Mail  

A spectacular home described as a 'coastal masterpiece' with breathtaking 180-degree ocean views has sold for $6.8million. The stunning house sits on a generous 531sqm of land and boasts some of the best ocean views in Australia that can be admired from downstairs living spaces and the master bedroom upstairs. Behind the doors of the 14 Mcanally Drive, Sunshine Beach …

Sydney's median house prices hit record high of more than $1.3 million
3 years, 7 months ago

Sydney's median house prices hit record high of more than $1.3 million

ABC  

A "rapid" acceleration in price growth, mostly driven by upper-end homes, has seen Sydney's median house price rocket to a new record of more than $1.3 million. Domain's Senior Research Analyst, Nicola Powell said it had been a "rapid acceleration" in prices. "It's the fastest acceleration of house prices over a single quarter since our Domain records began in 1993," …

House prices in Australia are soaring, but not because there aren't enough homes
3 years, 8 months ago

House prices in Australia are soaring, but not because there aren't enough homes

ABC  

It's tempting to think home prices are soaring because there aren't enough homes. That's 12 per cent of our houses and apartments empty — used as holiday homes and second homes, or waiting for tenants. We're chipping away at Menzies's legacy From when Robert Menzies stepped down as prime minister in 1966 until the end of the 20th century, about …

Three neighbours combine to sell their Sydney homes together - and they've made $1.8million EACH
3 years, 8 months ago

Three neighbours combine to sell their Sydney homes together - and they've made $1.8million EACH

Daily Mail  

Three neighbours have united in a bid to each sell their homes in a suburban cul-de-sac - and the idea has seen them earn nearly $2million each. Despite not revealing the final sale, Newton Real Estate's David Newton confirmed the final price went 'substantially' above the $5.3million price guide and that each of the three home owners would receive about …

Three biggest mistakes young people are making when it comes to investment including buying a unit
3 years, 8 months ago

Three biggest mistakes young people are making when it comes to investment including buying a unit

Daily Mail  

Young Australians are making three fundamental investment mistakes in the share market and through buying property. Trying to get rich quick In a dramatic year, shares in buy now, pay later app Afterpay have dramatically soared from just $8.80 to a short-lived peak of $158 in February 2021 - with the stock price multiplying by 18 times in a less …

The 54 Sydney, Melbourne and Brisbane suburbs breaking the $1 million barrier in February 2021
3 years, 8 months ago

The 54 Sydney, Melbourne and Brisbane suburbs breaking the $1 million barrier in February 2021

Daily Mail  

Australia's property price boom shows little sign of ending with 54 suburbs in Sydney, Melbourne and Brisbane surpassing the $1million barrier during the past year. Copacabana on the central coast north of Sydney saw its median house price surge by 68 per cent from $850,000 to $1.425million Copacabana on the Central Coast, north of Sydney, saw its median house price …

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 …

Australian house prices hit RECORD highs - except in two major cities
3 years, 10 months ago

Australian house prices hit RECORD highs - except in two major cities

Daily Mail  

Capital city house prices have hit record highs despite the Covid recession and an exodus of professionals to more affordable regional areas by the beach. Sydney continued to have Australia's most expensive median house price of $1.2million based on Domain sales at the end of last year, with prices climbing 6.7 per cent. The story was very different on Sydney's …

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 …

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