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 Eslake. "I suspect when the 2021 results come out, the home ownership rate among younger Australian adults — that is say between their 20s and mid-30s — will be lower than it was at the census of 1947." "Only the children of people who already have wealth, will be able to acquire home ownership in the future," he said.

Real Estate Housing Prices Price House Estate Real Bondi Buy House Prices Supplied Australian Hobart Ownership Four Corners Home Ownership  australias  wealth  divide  price  prices  estate  class  house  housing  theft  bondi  buy  leaves  australian  frenzy  real  ownership  youve  intergenerational

History of this topic

What’s really behind the surprise surge in house prices?
3 weeks, 1 day ago

What’s really behind the surprise surge in house prices?

The Independent  

Sorry to make a soggy start to the week even more miserable, but it brings bad news for homebuyers. Nationwide recently trumpeted itself as the “first major lender to offer first-time buyers ability to borrow six times income, up to 95 per cent loan-to-value”. “The acceleration in house price growth is surprising, since affordability remains stretched by historic standards, with …

Surprise jump in house prices with fastest rise in two years - as experts warn they will continue to increase
3 weeks, 1 day ago

Surprise jump in house prices with fastest rise in two years - as experts warn they will continue to increase

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy House prices made a surprise jump in November, with experts …

National house prices losing steam
3 weeks, 1 day ago

National house prices losing steam

ABC  

Nick Grimm: Housing prices rose nationally by 0.1% last month, but it looks like the market could be losing steam. Elizabeth Cramsie: Joe White is a real estate agent in Dunsborough in Western Australia. Elizabeth Cramsie: While rate cuts are expected at some point next year, he's not convinced it will bump up prices again. Elizabeth Cramsie: Real estate agent …

Home prices in India to rise 6.5% in 2025, driven by demand from wealthy: Survey
3 weeks, 1 day ago

Home prices in India to rise 6.5% in 2025, driven by demand from wealthy: Survey

Deccan Chronicle  

Average home prices in India are set to rise steadily over the coming years driven mainly by demand from wealthy individuals, while the rising cost of living will make owning a property unattainable for most people, a Reuters poll found.While India's middle class tightens its belt, cutting back on everything from tea to two-wheelers due to soaring consumer inflation, the …

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 …

Sydney and Melbourne house prices predicted to fall next year as Perth leads nation in value growth
1 month ago

Sydney and Melbourne house prices predicted to fall next year as Perth leads nation in value growth

ABC  

House prices in Sydney and Melbourne are set to decline further in 2025, while Perth is likely to experience the strongest growth among Australia's capital cities, according to SQM Research's latest Boom and Bust Report. City 2025 housing price forecast Perth +14% to +19% Brisbane +9% to +14% Darwin +5% to +8% Melbourne -5% to -1% Sydney -5% to -1% …

Why house prices are starting to fall
1 month, 3 weeks ago

Why house prices are starting to fall

ABC  

Sam Hawley: All focus this week will of course be on the US election and we'll be bringing you plenty of coverage. I mean, you know, what we've seen on a longer term perspective back, you know, I don't know, ever since I've been looking at it, you know, since the 60s or 70s, there's always been an ever increasing …

South Australian home prices up thanks to Victorian investors looking avoid land tax increases
2 months, 3 weeks ago

South Australian home prices up thanks to Victorian investors looking avoid land tax increases

ABC  

Investment property owners are selling up in Victoria to avoid increased taxes and buying in South Australia instead, according to real estate agents. Changes hit Victorian landlords Real Estate Institute of Victoria chief executive Kelly Ryan said the taxes came on top of higher minimum standards for properties introduced by the Victorian government, plus rent freezes during the COVID-19 pandemic, …

Housing market ‘is reviving’ amid growth in house prices and mortgage approvals
2 months, 3 weeks ago

Housing market ‘is reviving’ amid growth in house prices and mortgage approvals

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. “These trends have helped to improve affordability for prospective …

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 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 …

Annual house price growth increases at fastest rate since 2022
3 months, 3 weeks ago

Annual house price growth increases at fastest rate since 2022

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Annual house price growth has picked up at the fastest …

Australian property prices remain resilient despite economic headwinds
5 months ago

Australian property prices remain resilient despite economic headwinds

ABC  

Australian house prices have risen for a sixth straight quarter, according to analysis by Domain. "The housing market remains resilient despite low consumer sentiment, economic pressures and high interest rates," Domain's chief of research and economics, Dr Nicola Powell said. "Supply still remains constrained overall, weighed against a surge in demand from strong population growth and a tight rental market," …

As property prices grow, a new study forecasts Greater Sydney's market remaining unaffordable into next decade
5 months ago

As property prices grow, a new study forecasts Greater Sydney's market remaining unaffordable into next decade

ABC  

It's no secret that property prices in Sydney are eye-wateringly high. But according to a new study, property prices across Greater Sydney will be unaffordable for anyone on a single median income until at least the next decade. According to the results, quarterly repayments — including houses, apartments and townhouses — in 2031 for those on a median full-time income …

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 …

Extraordinary rise in value of Aussie homes - here are the states with the largest jumps
6 months, 1 week 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 …

Top CEO Matt Barrie exposes the huge problem with Australia that's the 'root of all evil' - and why many young Aussies may have the same grim vision of their future
6 months, 4 weeks ago

Top CEO Matt Barrie exposes the huge problem with Australia that's the 'root of all evil' - and why many young Aussies may have the same grim vision of their future

Daily Mail  

A top CEO has claimed the wildly expensive housing market that successive governments have let run out of control is the 'root of all evil' in Australia. Freelancer.com CEO Matt Barrie said the staggering increase in house prices has led to widespread ramifications for Aussies' finances and the way they view the world. Freelancer CEO Matt Barrie has taken aim …

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 …

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 …

Has the great Australian dream of affordable home ownership turned to a nightmare?
8 months, 2 weeks ago

Has the great Australian dream of affordable home ownership turned to a nightmare?

ABC  

Almost everyone recognises the problem. A recent study by the US Federal Reserve Bank of Dallas found that while higher rates since 2021 had made life tougher for home buyers, affordability would have been even worse if rates hadn't risen because housing prices would have risen more. Since the turn of the century, lower interest rates have allowed home buyers …

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 …

'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 …

House prices continue to rise despite higher interest rates, inflation and cost of living
9 months, 3 weeks ago

House prices continue to rise despite higher interest rates, inflation and cost of living

ABC  

In short: Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. "It's pretty unusual for economic conditions to be so weak but the housing market showing this really strong trend," CoreLogic's …

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 …

Alan Kohler exposes Australia's 'worst financial mistake' - and boomers are the ones benefiting
10 months, 1 week ago

Alan Kohler exposes Australia's 'worst financial mistake' - and boomers are the ones benefiting

Daily Mail  

This video is no longer available This video is no longer available The ABC's finance expert Alan Kohler has described the housing affordability crisis as Australia's worst ever financial mistake. Adelaide, he pointed out, is now Australia's second least affordable capital city when the state's average, full-time salary is compared to the city's median property price. In January, the median …

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 …

How will the latest rise in inflation impact house prices?
11 months ago

How will the latest rise in inflation impact house prices?

Daily Mail  

A drop in house prices is 'inevitable' following the latest inflation figures, a top property trade body suggests. The headline CPI rate defied expectations of a dip in December, rising from 3.9 per cent to 4 per cent Property insiders agreed that it is likely to be a 'bumpy ride' ahead for the property market. The typical home was worth …

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 …

Property prices see 'significant decline' in some suburbs and regions despite housing market rebound
1 year ago

Property prices see 'significant decline' in some suburbs and regions despite housing market rebound

ABC  

Property prices "defied expectations" to hit record high values this year, but some suburbs and regional areas have bucked the trend and seen "very significant declines" in their median house prices in the past 12 months. Key points: Data from PropTrack shows suburbs of greater Hobart have seen median house prices fall by more than 10 per cent in the …

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 …

Property prices across most of Qld reach record highs after post-COVID tumble
1 year, 1 month ago

Property prices across most of Qld reach record highs after post-COVID tumble

ABC  

Homes in almost every part of Queensland are now worth more than ever before, even surpassing the post-COVID records set in early 2022 after years of booming prices. Key points: Property prices in almost every part in Queensland are now higher than ever, overtaking COVID-era peaks Analysts say a combination of affordable regions and fewer homes on the market is …

National home prices rise to be just half a per cent off last year's historic high
1 year, 1 month ago

National home prices rise to be just half a per cent off last year's historic high

ABC  

National home prices accelerated their growth in October, rising 0.9 per cent for the month, according to CoreLogic data. "At this rate of growth, we will see the national HVI reach a new record high midway through November, recovering from the 7.5 per cent drop in values recorded over the recent downturn between May 2022 and January 2023," said CoreLogic's …

Property values are tipped to reach a new high. Here's how much prices have risen in each capital city
1 year, 2 months ago

Property values are tipped to reach a new high. Here's how much prices have risen in each capital city

ABC  

With Australia's median property value set to hit a new peak by the end of 2023, what does that mean for where you live? Adelaide Monthly change: 1.7 per cent increase Adelaide median house value: $742,909 Median unit value: $464,414 The September quarter saw Adelaide recording the highest capital gain at 4.3 per cent, pipping out Brisbane and Perth. Brisbane …

Australia's housing divide masks real interest rates pain
1 year, 3 months ago

Australia's housing divide masks real interest rates pain

ABC  

If it feels like we're in uncharted territory when it comes to keeping a roof over your head, you're right. So by splitting that line out into the different groups of people it represents, you can see that it's the increase in mortgage costs that has driven housing costs to record highs. If you only look at the typical housing …

Peter Costello issues a wake-up call to young Australians complaining about house prices
1 year, 6 months ago

Peter Costello issues a wake-up call to young Australians complaining about house prices

Daily Mail  

Nine chairman and former treasurer Peter Costello has claimed young Australians are prioritising overseas holidays over saving for a house deposit. Peter Costello, who was treasurer under Liberal PM John Howard, claimed young people would rather spend money on travelling than saving for a house How long it takes to save for a mortgage deposit SYDNEY: 14.3 years in a …

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 …

House price falls ease in February with Sydney posting a rise as real estate listings dry up
1 year, 9 months ago

House price falls ease in February with Sydney posting a rise as real estate listings dry up

ABC  

A lack of properties for sale and the first rise in Sydney home prices in more than a year have stabilised real estate values across the nation. Key points: The CoreLogic home price index fell 0.1 per cent nationally in February, the smallest fall since May 2022 Sydney home values rose for the first month since January 2022 Westpac is …

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 …

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023
1 year, 11 months ago

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023

ABC  

It's the question that most Australians want an answer to. Signs of a weaker housing market: property listings are 'abnormally low' Economists had been predicting a 15–20 per cent fall in property prices since the Reserve Bank started increasing interest rates in May. Shane Oliver says with house prices already down by about 8 per cent from their pandemic high, …

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 …

What Australia's housing market has been doing over the past year
1 year, 11 months ago

What Australia's housing market has been doing over the past year

ABC  

Few sectors of the economy are as sensitive to interest rates as the property market. The fall in national values was largely driven by capital city dwelling values dropping 5.2 per cent, while regional dwelling values rose 3.3 per cent over the same period, CoreLogic figures show. Economist Maree Kilroy expects further rate hikes in early 2023, with the cash …

Sydney, Melbourne real estate: Why house prices could rise in 2023 even with interest rates rising
1 year, 11 months ago

Sydney, Melbourne real estate: Why house prices could rise in 2023 even with interest rates rising

Daily Mail  

House prices could rise again in 2023 even if interest rates keep going up because rental vacancy rates are tight and immigrants are moving to Australia. House prices could rise again in 2023 even if interest rates keep going up because rental vacancy rates are tight and immigrants are moving to Australia House prices expected to rise again in 2023 …

The idyllic places by the beach where house prices are PLUNGING
2 years, 1 month ago

The idyllic places by the beach where house prices are PLUNGING

Daily Mail  

Idyllic places by the beach have suffered some of the sharpest house price falls as a result of surging interest rates. Byron Bay on the NSW far north coast is among the hardest hit markets with the median house price in this council area plunging by 15 per cent in the year to October. Where house prices are PLUNGING BYRON …

Australian home prices fall for six months in a row as interest rate rises bite
2 years, 1 month ago

Australian home prices fall for six months in a row as interest rate rises bite

ABC  

National property prices have fallen for the sixth month in a row as higher interest rates make the cost of borrowing more expensive. Key points: The housing downturn has deepened across the country as interest rates continue to rise CoreLogic says national home prices fell 1.2 per cent in October, and by 0.9 per cent annually However, a PropTrack survey …

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 …

House price growth stalls amid rising interest rates
2 years, 2 months ago

House price growth stalls amid rising interest rates

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. Annual house price growth slowed to single digits for …

Perth rental market tightens further as experts tip moderate house price growth
2 years, 3 months ago

Perth rental market tightens further as experts tip moderate house price growth

ABC  

Western Australia's rental vacancy rate has dropped to its lowest level in more than a decade, as experts warn of more pain ahead for those struggling to get a roof over their heads. Key points: Vacancy rates have hit new lows in Perth and regional areas The shortage is set to worsen as more people move to WA House price …

The expensive suburbs where house prices are falling very sharply as interest rates rise
2 years, 3 months ago

The expensive suburbs where house prices are falling very sharply as interest rates rise

Daily Mail  

Wealthy suburbs near the beach and sea change areas are suffering the sharpest house price falls as interest rates keep surging. The far north coast of NSW is also going backwards with the median house price in the Richmond-Tweed area - covering Byron Bay and Ballina - plunging by 5.5 per cent last month to $963,737. The far north coast …

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