New strata laws in New South Wales make it easier for apartment owners to update or redevelop their ageing unit blocks
According to CoreLogic’s latest Hedonic Home Value Index results, capital city dwelling values rose 0.2% throughout November 2016
The latest auction market preview from CoreLogic indicates there are slightly fewer auctions to take place across the combined capital cities this week
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The value of lending to owner-occupiers has fallen over two consecutive months to August 2016, while investor lending rose for the fourth consecutive months.
The apartment oversupply problem may be worse than what the Reserve Bank has stated, with the latter’s data only focusing on inner city apartments.
It has been another strong week for auction results across combined capital cities as the preliminary auction clearance rate last week hit 77.9%, sustaining the above 70% clearance rate since the last week of July.
After reaching a record high in the March 2016 quarter, construction numbers eased slightly over the June 2016 quarter, falling by 3.6% and 2.1%, respectively.
Australian housing demand hits an all-time high with demand for all dwellings jumping 17% over the past 12 months to September this year.
Experienced buyers know that vendors have different motivations for selling aside from money, and that includes privacy and timing.
After surging 56% over the past four years, property growth in Sydney is expected to fizzle and remain flat in the next three years, finally giving an end to Sydney’s housing boom.
Vacancy rates in Brisbane jumped ahead of Darwin in September rising to 2.6%, according to the latest rental figures.
The latest Housing Outlook Report by QBE shows improvement in housing affordability over the next three years, partly due to investors retreating from the market.
A sharp fall in house prices have given one capital city its most affordable property market in 13 years, according to the latest figures from the Housing Industry Association.
Housing affordability continues to worsen in the ACT, with its affordability index dropping by 1.5% during the September quarter.
Perth continues to be one of the most affordable capital city property markets, with the median house and rent prices slightly softening this September.
Despite falling by 1.8% over the month of August, residential dwelling approval figures remain strong, registering a 10.1% increase from last year’s figures.
Sydney is no longer hailed as the best place to buy and invest in Australia, according to a survey of 1000 property investors by the Property Investment Professionals of Australia (PIPA).
Capital city auction volumes and clearance rates increased substantially this week following a quiet auction market during the Labour Day long weekend.
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