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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Despite the seasonal increase in listings in December, vacancy rates remained tight compared to last year.
The housing market is in for a soft landing this year unless a surge in listings occur as early as next month.
However, one capital city ended 2021 with a decline in house prices.
Capital cities have been hosting more than 4,000 auctions over the past few weeks.
A CoreLogic report has listed the best performing suburbs based on several housing market indicators.
The proposed reform would consider the value of interstate investments when assessing tax liability in Queensland.
The situation, however, is different in regional markets, where new listings remained substantially down from pre-pandemic levels.
Sales activity in the city’s luxury residential segment has already tripled since 2019.
PropertyGuru’s fourth annual Asia Property Awards (Australia) winners and highly commended awardees were announced on Thursday 9th December in a virtual gala celebration premiering on AsiaPropertyAwards.com and the official live platforms on Facebook, LinkedIn, and YouTube.
Five of the eight capital cities now have vacancy rates of under 1%.
Six of the eight Australian capital cities have median prices that are still undervalued compared to the affordable median price an average household can afford.
They can only afford around 10% of rental properties across Australia.
Strong rental returns await savvy investors in South West Queensland.
The housing market is on its fastest upswing on record, with prices and sales rising consistently.
Sellers are rushing to make a sale before Christmas, making up for the lost time during the recent lockdowns.
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