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 shows national home prices falling 0.06 per cent in October, and rising 0.27 per cent annually Property data firm CoreLogic said home values across the country fell a further 1.2 per cent in October from a month earlier, with the median home price now at $721,018. On an annual basis, national home prices dropped 0.9 per cent in October, but prices in Sydney and Melbourne — the cities with the most expensive real estate — fell much more than elsewhere. Ms Owen said the RBA's central forecast was a fall of 11 per cent in home prices, but some markets could see bigger tumbles. Home prices nationally jumped nearly 29 per cent from the low of the pandemic in September 2020 to record highs in April 2022, thanks to record low interest rates and massive government stimulus.

Market National Prices Interest Rates Interest Fall Rate Rates Melbourne Sydney Interest Rate Buyers Row Rba Brisbane Photo Regional Regional Areas Home Prices Corelogic Northern Beaches Cent Fell John Gunn Proptrack Interest Rate Rises Ossitt National Home Prices  buyers  market  fall  prices  cent  fell  bite  australian  national  row  rises  rate  rates  regional  months  interest

History of this topic

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 …

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows
3 weeks, 1 day 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 weeks, 1 day 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% …

Interest rates might fall in February … but don't bet the house on it
1 month, 2 weeks ago

Interest rates might fall in February … but don't bet the house on it

ABC  

It's the hope that kills you. Rate cuts may not come until autumn, if they come at all Now even a February rate cut is looking unlikely, according to the money markets, which are pricing just 20 per cent chance of a cut, despite all four big banks and many other local economists forecasting it. Markets are pricing in a …

Why house prices are starting to fall
1 month, 2 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 …

The cheapest home loan interest rate in Australia as banks slash rates
2 months, 3 weeks ago

The cheapest home loan interest rate in Australia as banks slash rates

Daily Mail  

Australian borrowers tempted by lower fixed rate mortgages should not jump in too soon, amid predictions of even better deals on offer in 2025. Macquarie Bank on Thursday slashed its two and three-year fixed rates by 20 basis points to 5.39 per cent - now Australia's lowest mortgage rate outside of a green loan. But their lowest fixed rates are …

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 …

US home sales fell in August despite easing mortgage rates, more homes on the market
3 months ago

US home sales fell in August despite easing mortgage rates, more homes on the market

Hindustan Times  

LOS ANGELES — Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased …

Will interest rate decline shake up California housing market?
3 months ago

Will interest rate decline shake up California housing market?

LA Times  

The interest rate on a 30-year fixed mortgage has fallen from above 7% in May to the low 6% range as of last week. For many prospective homebuyers, the last two years have been brutal as high home prices and mortgage rates produced the most unaffordable housing market since the 2000s bubble. Experts attribute the recent decline in mortgage rates …

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 …

Australian property prices remain resilient despite economic headwinds
4 months, 4 weeks 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," …

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
5 months ago

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

Associated Press  

LOS ANGELES — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Existing home sales sank to a nearly 30-year low last year as the average rate on a 30-year mortgage surged to a 23-year high of 7.79%, according to mortgage …

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?
5 months, 2 weeks ago

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?

Associated Press  

LOS ANGELES — The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and fall. The weak spring sales are a reflection of the affordability challenges many home shoppers face: the average rate on a 30-year mortgage rate is moored near 7%; the supply …

US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices
6 months ago

US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what’s traditionally the housing market’s busiest period of the year. “We had low home sales activity, prices are hitting record highs and homes look like they’re still getting multiple offers.” The …

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 …

Latest figures show huge change to Australia's property market compared with a year ago
6 months, 4 weeks 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 …

US home sales post second straight monthly drop; house prices accelerate
7 months ago

US home sales post second straight monthly drop; house prices accelerate

Live Mint  

* Existing home sales fall 1.9% in April * Housing inventory increases 9% to 1.21 million * Median house price rises 5.7% to $407,600 from year ago By Lucia Mutikani WASHINGTON, May 22 - U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. Though …

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
7 months ago

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices

Associated Press  

WASHINGTON — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.22 million in March, the National Association of Realtors reported Wednesday. Homeowners have hesitated to put their houses on the market …

Home sales fall in March with mortgage rates rising
8 months ago

Home sales fall in March with mortgage rates rising

Associated Press  

LOS ANGELES — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices. A modest pullback in mortgage rates early this year helped lift home sales in January and February, but rates mostly ticked up in February and March, when many of the home sales that were finalized last …

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 …

UK House Prices Decline for the First Time in Six Months
8 months, 2 weeks ago

UK House Prices Decline for the First Time in Six Months

Hindustan Times  

UK house prices slipped for the first time in six months in March, lender Halifax said in data that confirmed a setback in the property market’s recovery. “That a monthly fall should occur following five consecutive months of growth is not entirely unexpected particularly in view of the reset the market has been going through since interest rates began to …

House prices fell in March. Here’s why that shouldn’t surprise us
8 months, 3 weeks ago

House prices fell in March. Here’s why that shouldn’t surprise us

The Independent  

After showing some modest signs of life, Britain’s maddening housing market decided to resume its sulk in March. The Nationwide Building Society’s latest index showed a modest year-on-year rise of 1.6 per cent but a seasonally adjusted month-on-month fall of 0.2 per cent when compared to February’s prices. The latest positive news came from the British Retail Consortium, which said …

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 …

Mortgage rates tumble for the second week in a row
9 months, 1 week ago

Mortgage rates tumble for the second week in a row

CNN  

Washington, DC CNN — Mortgage rates dropped for the second week in a row, falling nearly a quarter of a percentage point over the past two weeks in the face of stronger-than-expected employment and inflation data. “Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation,” said Sam Khater, Freddie Mac’s chief …

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 …

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 …

Home prices jumped by the most in almost a year in November, this closely watched barometer says
10 months, 3 weeks ago

Home prices jumped by the most in almost a year in November, this closely watched barometer says

Associated Press  

LOS ANGELES — A closely watched housing market barometer shows U.S. home prices in November posted their biggest annual gain in more than a year. A tight supply of homes for sale nationally has kept upward pressure on home prices despite a severe housing market slump deepened by a sharp runup in mortgage rates last fall. “That suggests pivoting of …

House prices rose in January and are anticipated to keep going up if rates come down
10 months, 3 weeks ago

House prices rose in January and are anticipated to keep going up if rates come down

ABC  

House prices are on track to continue rising across the country, propelled by renters and migrants wanting to buy their own homes and buyers trying to get in ahead of interest rate cuts expected later this year. Data from CoreLogic shows that house prices rose nationally, up 0.4 per cent in the month of January, and 8.7 per cent across …

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 …

Commonwealth Bank forecasts massive interest rate cuts for Australians: Here's when the country's biggest bank predicts they will begin
1 year ago

Commonwealth Bank forecasts massive interest rate cuts for Australians: Here's when the country's biggest bank predicts they will begin

Daily Mail  

The Commonwealth Bank is now forecasting six interest rate cuts in 2024 and 2025 - starting in September next year as Australian inflation moderates faster than predicted. Mr Halmarick is basing his prediction of 150 basis points of rate cuts, in 2024 and 2025, on inflation falling back to the top of the Reserve Bank's two to three per cent …

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 …

Reserve Bank leaves interest rates on hold in an early Christmas present for borrowers - but here's why Aussies with mortgages should be worried
1 year ago

Reserve Bank leaves interest rates on hold in an early Christmas present for borrowers - but here's why Aussies with mortgages should be worried

Daily Mail  

Australian borrowers have been warned to expect another rate hike even though the Reserve Bank has this month left interest rates on hold. The cash rate is already at a 12-year high of 4.35 per cent after the RBA last month raised rates for the 13th time in 18 months. KPMG chief economist Brendan Rynne said the Reserve Bank statement …

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 …

House prices rise for the first time in six months, say Halifax - but are still lower than a year ago
1 year, 1 month ago

House prices rise for the first time in six months, say Halifax - but are still lower than a year ago

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. Read our privacy policy Average UK house prices rose …

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 …

Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyers
1 year, 2 months ago

Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyers

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes in September fell for the fourth month in a row, grinding to their slowest pace in more than a decade as prospective homebuyers grapple with surging mortgage rates and a near historic-low level of properties on the market. Existing home sales fell 2% last month from August to a seasonally adjusted …

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 …

Have home prices bottomed? While low housing inventory stymies sales, bidding wars prop up prices
1 year, 4 months ago

Have home prices bottomed? While low housing inventory stymies sales, bidding wars prop up prices

Associated Press  

LOS ANGELES — The U.S. housing market remains in a deep sales slump, but the worst declines may be over when it comes to home prices. If mortgage rates remain elevated and inventory continues rising, the combination could weigh on home prices and cause the national median sales price to dip this fall, said Lisa Sturtevant, chief economist at Bright …

House prices are falling, but here’s why it would be wrong to give up on bricks and mortar
1 year, 4 months ago

House prices are falling, but here’s why it would be wrong to give up on bricks and mortar

The Independent  

Homeowners can be forgiven for worrying about the news of a slump in house prices, but all is not doom and gloom. Whereas April and May’s hot inflation figures raised the prospect that the UK could be an outlier on inflation among advanced economies, prompting an ugly spike in borrowing costs, June’s reading largely allayed those fears. The Nationwide data …

House prices fall at fastest annual rate in 12 years as mortgage rates soar
1 year, 5 months ago

House prices fall at fastest annual rate in 12 years as mortgage rates soar

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. With markets now forecasting a peak in bank rate …

Interest rate pause no help for regional Victorian home owners selling properties as repayments increase
1 year, 5 months ago

Interest rate pause no help for regional Victorian home owners selling properties as repayments increase

ABC  

Bronte Harrop has decided she cannot afford to be a home owner, despite having a stable full-time job where the 27-year-old earns above-average income. Key points: Interest rates being held this month provides little relief for struggling home owners and renters One couple has lost tens of thousands of dollars on the sale of their home Regional house prices have …

Buying or selling? How to deal with rising mortgage rates and falling house prices
1 year, 5 months ago

Buying or selling? How to deal with rising mortgage rates and falling house prices

The Independent  

For millions of Britons who had plans to move house or get on the property ladder this year, the latest mortgage misery coupled with the cost of living crisis makes paints a grim picture. Ross Lacey, director and chartered financial planner at Fairview Financial Management, said: “As a homeowner, if you want to move then even if your property price …

May home sales rise with near record-few on the market and biggest annual price drop since 2011
1 year, 6 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, …

Annual house price growth turns negative for first time since 2012 – index
1 year, 6 months ago

Annual house price growth turns negative for first time since 2012 – index

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. As expected, …

House prices fall at fastest annual rate since financial crisis
1 year, 6 months ago

House prices fall at fastest annual rate since financial crisis

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. Read our privacy policy House prices fell at the …

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 …

Sale of newly constructed homes falls by half; Housing minister concerned
1 year, 8 months ago

Sale of newly constructed homes falls by half; Housing minister concerned

NL Times  

Sales of new construction homes fell by half in the last quarter of 2022 compared to a year earlier, Statistics Netherlands said this week. The cause of the trend is likely due to the limited growth of new homes placed on the market, said CBS Chief Economist Peter Hein van Mulligen. “Then you get an interest rate shock: both buyers …

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