Housing affordability, however, will likely continue to deteriorate even with price falls, an expert predicts.
Young Australians are driving the overall migration growth in regional areas, which is at a five-year high.
Queensland’s top marginal stamp duty rate remains one of the highest in the country.
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Demand appears to be waning as interest rates, particularly fixed ones, have already started rising.
Some experts believe the federal government missed some opportunities to address other pertinent issues in the market.
Properties in some regional areas have already seen their days on market decline since the pandemic started.
More than half of investor inquiries in Darwin are from interstate-based buyers.
A study found that $25bn worth of residential properties are exposed to rising coastal risks.
Experts believe it would be better for the government to address other relevant long-standing issues concerning renters, including rent increases.
These are just among the several recommendations outlined in the recently released report from the Standing Committee on Tax and Revenue.
Buyers in these markets are in desperate need for more options as supply remains tight.
The increasing number of renters in stress should compel the federal government to prioritise social housing in the upcoming budget, an expert says.
Smaller targeted reforms to stamp duty will help alleviate the pressure on the state’s housing market.
The vacancy rate has fallen to a 16-year low while rents have grown at their fastest since the 1970s.
The new rental scheme aims to boost the workers and encourage further investment in the territory.
CoreLogic’s latest Rent Value Index showed an 11.8% cumulative increase since the end of March 2020.
These suburbs could benefit from the expected growth in Queensland’s population over the next few years.
The housing market was not able to sustain the strong sales recorded over the last few months of 2021.
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