Australian Property Listings Surge by 7.9% in August, Changing the Buyer-Seller Dynamic
Reading Time: 3 minutesThe Australian property market is heating up for spring, with a significant increase in the number of properties listed for sale. According to SQM Research, a total of 249,523 properties were listed in August, marking a 7.9% rise from the previous month and an 11.1% increase compared to the same time last year. This surge […]
Australia’s GDP Growth Slows to 1.5%, Bringing Rate Cut Closer
Reading Time: 3 minutesAustralia’s economy is growing at its slowest pace in over 30 years, outside of the pandemic period, which could pave the way for an interest rate cut in the near future. According to the Australian Bureau of Statistics, the nation’s gross domestic product (GDP) increased by just 0.2% in the June quarter and by 1.5% […]
Homebuilding Approvals on the Rise but Still Below Average
Reading Time: 3 minutesThe Australian housing market is showing signs of life, with homebuilding approvals increasing for the fifth time in six months. This trend provides a glimmer of hope for the nation’s housing supply, which has been struggling to keep up with demand. According to the latest data from the Australian Bureau of Statistics, the number of […]
National Median Property Price Climbs for 19th Straight Month
Reading Time: 3 minutesAustralia’s property market continues its upward trajectory, with the national median property price increasing for the 19th consecutive month in August. However, the rate of growth is beginning to decelerate, raising questions about the sustainability of this trend. According to CoreLogic, the national median price rose by 0.5% in August, but the pace of growth […]
Regional Property Markets Cool as Internal Migration Slows
Reading Time: 4 minutesEarlier this year, regional property markets were outperforming their capital city counterparts, fueled by strong demand and a migration boom. However, the tide has turned, with regional markets now showing signs of slowing down, while capital cities are regaining momentum. According to the latest data from CoreLogic, the combined regions saw a median price increase […]
Residential Construction Declines 2.9% as Demand Outpaces Supply
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Economist Predicts “Huge Fall” in Inflation, but RBA Rate Cuts Unlikely Until 2025
Reading Time: 3 minutesAustralia’s inflation rate is showing signs of easing, with the annual figure dropping from 3.8% in June to 3.5% in July, according to the latest data from the Australian Bureau of Statistics. This movement brings the country closer to the Reserve Bank of Australia’s (RBA) target inflation range of 2-3%, which has sparked discussions about […]
US-Based Buyer Interest in Australian Real Estate Jumps 51.2%
Reading Time: 3 minutesInterest in Australian real estate from US-based buyers has surged significantly, with search activity increasing by 51.2% in July compared to the previous year, according to a recent analysis by PropTrack. This spike has catapulted the United States to the top position as the leading source of overseas buyer interest in Australian property. The dramatic […]
Vendor Discounting Increases as Property Market Shows Signs of Cooling
Reading Time: 3 minutesAs the Australian property market shows signs of cooling, there’s been a noticeable rise in vendor discounting, indicating that sellers are finding it harder to secure buyers without negotiating on price. According to CoreLogic’s latest data, vendors across the country had to offer a median discount of 3.7% during the July quarter to achieve a […]
Australian Property Market Yields Record Profits in 2023-24
Reading Time: 3 minutesThe Australian property market has delivered its best profit results in over a decade, with an overwhelming majority of vendors enjoying substantial returns on their property sales during the 2023-24 financial year. According to research from Domain, 96.0% of house vendors and 90.7% of unit vendors across the nation achieved a gross profit, marking the […]