Lower house prices not translating into more affordable housing, as loans become harder to get
6 years ago

Lower house prices not translating into more affordable housing, as loans become harder to get

ABC  

Falling house prices, particularly in Australia's biggest cities, are doing little to improve housing affordability. Key points: REIA survey shows housing became less affordability at the end of 2018, despite price falls Real estate agents say tighter borrowing rules making it harder for potential buyers to get credit Sellers waiting for prices to improve before putting properties on the market The latest survey released by the Real Estate Institute of Australia on Tuesday shows the proportion of income required to meet loan repayments actually increased marginally in the December quarter. "It's pretty much a paper exercise, because our property goes down and house prices go down," Ms Stern said. "There's an ongoing research program looking at this very issue — is the unaffordability of housing and the congestion of larger cities undermining economic growth?" "There may be an opportunity, perhaps, in a year or the next 18 months, a slight pause in the market where it's more accessible for more aspiring home owners," he said.

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History of this topic

How Australia's housing market spun out of control — and what we can do to fix it
3 weeks, 1 day ago

How Australia's housing market spun out of control — and what we can do to fix it

ABC  

Property investment is ingrained in the Australian psyche, but is it too easy to cast landlords as the villain in our housing crisis? The bank regulator, Australian Prudential Regulation Authority or APRA, under the leadership of Wayne Byres, threw cold water on another investor-led housing boom in the mid-2010s by using "macroprudential tools", such as limits on investor lending growth …

Housing Hostages: Australia in 2050
3 weeks, 6 days ago

Housing Hostages: Australia in 2050

ABC  

Sam Hawley: Imagine it's 2050 and the housing bubble in Australia never burst. Sam Hawley: Michael, we know the increasing cost of housing is causing enormous economic pain and really human hardship, let's face it. Michael Janda: Yeah, so Sam, it really makes us look like a lot of other developed countries, particularly ones that have expensive housing. Sam Hawley: …

Australian home prices tipped to keep falling in early 2025
2 months, 3 weeks ago

Australian home prices tipped to keep falling in early 2025

ABC  

Australian home prices are set to keep falling in the first half of this year, according to a wide range of analysts, but they also expect the decline to be small and short-lived. "There are numerous signs of softening in the Australian property market," wrote AMP's chief economist Shane Oliver, before listing them: Auction clearance rates have cooled from their …

Shock figures show where house prices are FALLING in Australia - and the reason for the decline
2 months, 4 weeks ago

Shock figures show where house prices are FALLING in Australia - and the reason for the decline

Daily Mail  

Property prices in Sydney and Melbourne have declined as the number of overseas visitors drops with an immigration slowdown expected to cut prices further. The drop or slowdown in house prices, in Australia's two biggest cities, occurred as immigration levels moderated from record-high levels Perth's median house prices last year climbed by 18.7 per cent to $847,518, and by 1.7 …

The housing affordability crisis is going global
3 months, 2 weeks ago

The housing affordability crisis is going global

Live Mint  

DUBLIN—When Mikey Cullen’s parents were in their early 20s, they earned enough as public-sector workers to buy a house in the city. Ireland, after years of anemic construction, now has the European Union’s most expensive housing, according to a broad measure of rent, maintenance costs and utilities by Eurostat, the European Union statistics agency. “When cities had housing shortages, if …

National house prices losing steam
3 months, 4 weeks 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 …

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows
3 months, 4 weeks 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
4 months 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% …

Aussie teen rages over Sydney property prices
4 months ago

Aussie teen rages over Sydney property prices

Daily Mail  

House prices rose by 1.3 per cent across capital cities in October A young Australian has slammed the country's housing crisis as 'genuinely ridiculous' after receiving a flyer from a real estate agency that showcased ordinary properties that all sold for more than $1million. Data revealed house prices recorded an increase of 1.4 per cent in Sydney, with homes selling …

Home values in Canberra are declining but high interest rates and cost-of-living pressures still make buying hard
4 months, 3 weeks ago

Home values in Canberra are declining but high interest rates and cost-of-living pressures still make buying hard

ABC  

The latest data suggests a shift toward a buyers' market in Canberra this spring, but only for those who can afford to put a deposit together. CoreLogic Australia's head of research, Eliza Owen, said Canberra's housing market could be described as "pretty slow and steady", but with a little more weakness in recent months. "On top of that we're probably …

Why house prices are starting to fall
4 months, 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 …

House prices are still rising, but CoreLogic data shows the property market is cooling off
4 months, 4 weeks ago

House prices are still rising, but CoreLogic data shows the property market is cooling off

ABC  

Australia's property market is showing further signs of a slowdown, with national house prices rising slightly in October as more home-owners and investors look to capitalise on the spring selling season. "For the past couple of years, they've had really strong population growth, strong jobs growth, and subsequently strong housing demand that has kept prices rising, even through interest rate …

In New Zealand, interest rates have started to fall. This is the impact on the housing market
6 months, 4 weeks ago

In New Zealand, interest rates have started to fall. This is the impact on the housing market

ABC  

Across the ditch, economists say New Zealanders can now see "the light at the end of the tunnel" of high interest rates after the country's central bank announced the first cut in more than four years and signalled more were on the way. "The first cut is the deepest, to quote Rod Stewart," ANZ chief economist in New Zealand Sharon …

The 10 housing markets which are set to become affordable as mortgage rates drop
7 months ago

The 10 housing markets which are set to become affordable as mortgage rates drop

Daily Mail  

Mortgage rates are on the decline, which could mean some housing markets are set to become much more affordable. The biggest winner would be Lakeland, Florida, which would see the biggest increase in affordable listings if mortgage rates fell, Realtor.com found. The biggest winner would be Lakeland, Florida, which would see the biggest increase in affordable listings if mortgage rates …

Australian property prices remain resilient despite economic headwinds
8 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," …

This rundown property is unlivable... but it just sold for a staggering amount above reserve - in another sign of Australia's dire housing market
9 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 …

Building approvals in Australia at decade lows — what does this mean for the housing crisis?
9 months, 3 weeks ago

Building approvals in Australia at decade lows — what does this mean for the housing crisis?

ABC  

Decade-low building approvals could spell disaster for the future of the Australian government's ambitious plans to tackle the worsening housing crisis, property experts say. Australian Housing and Urban Research Institute's Dr Michael Fotheringham said April's figures were in keeping with a broader trend in the country's struggling building sector. "That's not a helpful trend, given the broader lack of housing …

Latest figures show huge change to Australia's property market compared with a year ago
10 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 …

Has the great Australian dream of affordable home ownership turned to a nightmare?
11 months, 3 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 …

Mapped: The areas where UK house prices have fallen the most
11 months, 3 weeks ago

Mapped: The areas where UK house prices have fallen the most

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 The average house price in the UK fell by 0.2 …

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis
1 year ago

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis

Daily Mail  

A plunge in home approvals has cast severe doubt over the federal government's ambitious plan to build 1.2million homes in five years. Australia's new house approvals are slumping casting severe doubt over the federal government's promise to build 1.2milion homes in five years To meet the Albanese government's targets, 20,000 homes will need to be built every month from July …

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

As a new parliamentary year gets underway, the housing crisis remains a powerful vote driver
1 year, 1 month ago

As a new parliamentary year gets underway, the housing crisis remains a powerful vote driver

ABC  

Political momentum has ebbed and flowed in the first fortnight of parliament for the year. Amidst the parliamentary ping-pong between Labor's hard-sell of its tax cuts and the Coalition's alarm at convicted immigrants on the loose, it's become clear all sides are keeping a close eye on another issue which could prove to be a far more powerful vote driver: …

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city
1 year, 1 month 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 …

Property values bounced back across Australia in 2023, but there are signs of slowing
1 year, 2 months ago

Property values bounced back across Australia in 2023, but there are signs of slowing

ABC  

Australian house and apartment values bounced back in 2023, increasing by 8.1 per cent nationally over 2023, according to new data. Key points: New data shows dwelling values rose nationally last year in comparison to 2022 Sydney remains the most expensive city to buy a property across the country Homes in capital cities increased significantly more than in regional areas …

Property prices see 'significant decline' in some suburbs and regions despite housing market rebound
1 year, 3 months 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 …

Australia's housing divide masks real interest rates pain
1 year, 6 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 …

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house
1 year, 6 months ago

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house

Daily Mail  

Housing affordability is at its worst level in three decades, with the average Australian household able to afford just 13 per cent of the market. The report found households earning the median income of about $105,000 can afford 13 per cent of all homes sold across the country in the last year - the lowest level since records began in …

A fall in house prices can only be a good thing
1 year, 8 months ago

A fall in house prices can only be a good thing

The Independent  

“A fall in house prices is a bad thing.’’ What a load of nonsense! Philip Pound London The only winner of the mortgage crisis is the banks As the hand-wringing over our surging interest rates continues unabated, and gleeful pundits predict a tanking of the housing market, you’d assume it was all bad news for borrowers. “A rising tide lifts …

May home sales rise with near record-few on the market and biggest annual price drop since 2011
1 year, 9 months ago

May home sales rise with near record-few on the market and biggest annual price drop since 2011

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes edged higher in May and the national median sale price posted its biggest annual drop in more than a decade, as a near all-time low supply of available properties constrained the housing market. Existing home sales rose 0.2% last month from April to a seasonally adjusted annual rate of 4.3 million, …

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

Priced out: young people needing housing face a closed door
2 years, 1 month ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Priced out: young people needing housing face a closed door
2 years, 1 month ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Has Australia's housing boom hit the end of the road and could it take the economy down with it?
2 years, 2 months ago

Has Australia's housing boom hit the end of the road and could it take the economy down with it?

ABC  

While Argentina may have dispatched Australia to go on and win football's World Cup, there is one kicking contest where we are undisputed world leaders – that's economic can kicking. Many fixed mortgage rates were below 2 per cent, some for terms as long as four years, and the Reserve Bank governor had said repeatedly that rates were unlikely to …

Revealed: Where in the UK house prices have dropped the most
2 years, 2 months ago

Revealed: Where in the UK house prices have dropped the most

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Average house …

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area
2 years, 2 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
2 years, 3 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 …

Why Australian house prices could begin to recover again in 2023 and 2024
2 years, 3 months ago

Why Australian house prices could begin to recover again in 2023 and 2024

Daily Mail  

Houses prices could recover a lot sooner than the experts are predicting despite fears of more interest rate rises. A Canstar survey of 2,157 Australians showed 60 per cent of respondents were in fact expecting house prices in their state to remain stable, grow or possibly even skyrocket before the end of 2024. Houses prices could recover a lot sooner …

Australian house prices fall seven months in a row but pace of decline slows
2 years, 3 months ago

Australian house prices fall seven months in a row but pace of decline slows

ABC  

National house prices have fallen in November but the pace of decline has slowed as low stock levels persist and buyers push ahead with purchasing despite rising interest rates. Key points: CoreLogic says national home prices fell 1 per cent in November, and by 3.2 per cent annually Unit values have fallen at half the rate of houses However, a …

Warning Australian property prices will start to slide even faster
2 years, 4 months ago

Warning Australian property prices will start to slide even faster

Daily Mail  

Australia's property market downturn could worsen amid fears of another super-sized interest rate rise - with a lot more to come. House prices in every capital city market went backwards in October following six consecutive monthly Reserve Bank interest rate increases, new CoreLogic data showed Australia's mid-point house and unit price fell by 1.2 per cent in October to $721,018, …

As rates rise again, Australia's average property prices are falling. Here's how steeply home prices are dropping across the nation
2 years, 4 months 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 …

Why aren’t older people downsizing to smaller homes?
2 years, 5 months ago

Why aren’t older people downsizing to smaller homes?

The Independent  

About six years ago, my parents decided to sell the family home and move house. The families are saying ‘You don’t need all this, you don’t want the hassle of having to do the work.’ They’re seeing that their parents could have an improved lifestyle if they downsized.” open image in gallery Unlike the US, the UK doesn’t have a …

House price plunge spreads with biggest monthly decline in 39 years
2 years, 6 months ago

House price plunge spreads with biggest monthly decline in 39 years

ABC  

Australia's housing market decline has spread across all capital cities and most regional areas, with a leading index showing the biggest monthly decline in nearly four decades. Key points: CoreLogic's index shows home values falling 1.6 per cent in August The rival PropTrack index recorded a smaller 0.4 per cent fall Regional markets have started falling, with almost the whole …

The housing market seems out of control. But there are lots of things we could do
2 years, 7 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 …

Interest rate rises will see property prices fall further as maximum home loan sizes shrink
2 years, 7 months ago

Interest rate rises will see property prices fall further as maximum home loan sizes shrink

ABC  

Property prices may be dropping but that doesn't mean that wannabe home owners are suddenly celebrating. Key points: The Reserve Bank is set to hike the cash rate again today Banks are already winding back mortgage limits as interest rates and inflation rise Mortgage brokers say a 'feedback loop' is emerging in the property market Lenders are simultaneously winding back …

Australian house prices fall at 'fastest rate' since 2008 financial crisis
2 years, 7 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 …

Sydney news: Harbour City house prices fall by fastest rate in 40 years
2 years, 8 months ago

Sydney news: Harbour City house prices fall by fastest rate in 40 years

ABC  

This is what you need to know this morning. Rapid drop in Sydney house prices Weaker buyer sentiment, rate hikes and rising inflation are affecting the auction market. Sydney house prices have slipped 1.9 per cent over the past month which is the fastest rate of decline in 40 years. “The latest results continue to highlight tougher selling conditions as …

Perth housing blocks now the smallest in the country amid strong demand for new homes
2 years, 9 months ago

Perth housing blocks now the smallest in the country amid strong demand for new homes

ABC  

The average block of land for new homes in Perth is just 399 square metres, the smallest in the country, but the houses are not shrinking as fast. Data from the Australian Bureau of Statistics shows that the average size of blocks of land for new homes has been steadily shrinking around the country for the past decade, and Perth …

Declining Sydney property prices a forecast for the rest of Australia, experts say
2 years, 9 months ago

Declining Sydney property prices a forecast for the rest of Australia, experts say

ABC  

As interest rates rise, Sydney house prices are dropping and experts say it is a "bellwether" for what is about to happen across the rest of the country. Key points: Interest rates are driving the decline in value of Sydney properties The Reserve Bank of Australia increased the cash rate to 0.85 per cent. "If we see interest rates rise …

Melbourne house prices could plunge by $135,000 by end of 2023 as AMP Capital issues forecast
2 years, 9 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 …

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