Property prices dip across all capital cities
Residential property prices dropped by 3% in the March quarter, according to figures released by the Australian Bureau of Statistics (ABS). Data showed that property values fell in capital cities, with Sydney (-3.9%) and Melbourne (-3.8%) recording the largest declines.
NSW budget supports investment
Treasurer Dominic Perrottet handed down the New South Wales budget on Tuesday—and it delivered a record infrastructure spend to drive investments despite reduced stamp-duty revenue, according to the Property Council of Australia.
Granny flats can boost property value
More than half a million homeowners across Australia’s eastern seaboard have enough space on their property to build a granny flat, which could boost home values by 30% and add around 27% to rental income, according to an analysis by CoreLogic and Archistar.
