Australia News

Where should you put your money in 2023?

For investors, 2022 was a turbulent year. Investors saw a decline in the value of their shares, homeowners saw their home values fall by the most significant margin in decades, and savers were disadvantaged since interest rates increased but failed to keep up with inflation. In that case, where can we expect to find promising investment prospects in the next year? To find out, we consulted the professionals. In an interview with CNBC, Mark Lister, investment director at Craigs Investment Partners, predicted that the real economy will be hit worse than the financial markets. Although the financial markets struggled in

March 7, 2024 No Comments

Australia News

Queensland Housing Minister Implores Sympathy Following an ‘Appalling’ Proposal to Increase Rents By 20%.

Queensland’s housing minister deems it “appalling” that landlords have been persuaded to boost rates amid a rental crisis after a Brisbane real estate agent advocated for rises of over 20%. Leeanne Enoch’s remarks came after Guardian Australia reported that Ray White West End emailed landlords pushing them to increase rents by more than double the inflation rate. “It is awful to see several real estate agents implementing significant rent hikes amid enormous demands on the whole housing sector,” said Enoch. “I would strongly urge real estate agents and homeowners to have compassion when we gather at the Queensland housing summit

March 7, 2024 No Comments

Australia News

NAB predicts that by 2023, home prices will fall by much to 22.3%

The National Australia Bank predicts that between 2022 and 2023, house values will decline by 23% in several states. The majority of Australia’s metropolitan cities, except Sydney, will witness a severe decline in housing values in 2023 due to the pandemic. NAB discovered that Hobart will have the most significant decline in home prices next year, with prices expected to decrease by 16.6% after falling by 6.4% this year. This could result in a 23 percent decline in Hobart home prices over the next two years, shaving as much as $174,000 off the price of a $758,000 median-priced home. The

March 7, 2024 No Comments

Australia News

How the Australian real estate market has progressed over the past year.

The housing market is among the most susceptible to changes in interest rates. Eight consecutive rate hikes in 2022 to combat rising inflation sent shockwaves across the market and are still at the heart of the decline in Australian property prices. When comparing national home prices from November 2017 to November 2018, we see a yearly decline of 3.2 percent. However, Eliza Owen, chief of research at CoreLogic, says the decline’s speed has slowed “broadly since September.” Although some might consider this good news, she warned that next year could see a resumption of the slide. CoreLogic data reveals that

March 6, 2024 No Comments

Australia News

Indicators show that Australian property prices will decline in 2023.

There is one way to gain a sense of what will happen to Australian property values in 2023, notwithstanding the impossibility of predicting the future: look over the ditch. Since the Reserve Bank of New Zealand (RBNZ) began the current interest rate increase cycle in October 2021, New Zealand has served as a leading indicator for property markets and economies across the developed world. While some central banks, such as the RBA, were slow to join the campaign to combat inflation, other central banks worldwide followed the RBNZ in rapidly increasing interest rates. Since they were high in November last

March 3, 2024 No Comments

Australia News

The Australian Real Estate Market Declines Resulting To The Rise Of Domestic Rates

September results in property price reductions in capital cities as of October 4. In September, property values in Australia decreased by 1.4% as the market continued to cool in reaction to rising interest rates and greater living expenses. According to statistics supplied by CoreLogic, the reduction represented a little improvement over the 1.6% price decline in August. Tim Lawless, director of research at CoreLogic, said that “the lack of momentum in the speed of value drop was visible in the majority of capital cities and broad rest-of-state areas, with a few exceptions.” Sydney property values decreased by 1.8% in September,

March 3, 2024 No Comments

Australia News

Australian borrowers will highly experience mortgage stress due to high rates

How many Australians are now likely to have trouble with their mortgages? The sharp rise in mortgage rates over the past few months will force families to make complex changes to how they spend their money. What is mortgage stress? There is no official definition of mortgage stress, but it is when a family has trouble making home loan payments. People who spend more than 30% of their income on mortgage payments are often used as a measure. However, it doesn’t do an excellent job of expressing this idea. Situations are different for everyone. This is usually easy for households

February 29, 2024 No Comments

Australia News

Thousands of Rentals Vanish from Australia’s Property Market

Australia’s property market is currently grappling with a puzzling and concerning trend as an alarming number of rental properties disappear from the landscape. This phenomenon, which is sending shockwaves through the real estate sector, has raised questions about housing availability and affordability for thousands of Australians. Rental Properties in Decline According to recent reports and data analysis, there has been a noticeable decrease in available rental properties across the country. Property experts and analysts have expressed growing concerns about the reasons behind this unexpected trend. Factors Contributing to the Rental Shortage Several factors are believed to be contributing to the

September 22, 2023 No Comments

Australia News

Australia’s Major Cities Grapple with Soaring Property Prices

Australia’s most populous cities are grappling with some of the world’s most exorbitant property prices, presenting significant challenges for prospective homeowners in Sydney and Melbourne. The 2023 housing affordability report by Demographia underscores that in 2022, five of Australia’s largest housing markets were marked by unaffordability, with only Hong Kong trailing behind Sydney in terms of housing affordability. The analysis compares median property prices to median incomes and generates a ratio that quantifies the affordability of housing. In simpler terms, Sydney’s median house price is divided by its median pre-tax income, resulting in a score of 13.3, whereas Hong Kong’s

August 25, 2023 No Comments

Australia News

Surge in Australian Property Prices Sparks Unprecedented Boom

Australian property prices have ignited a remarkable boom, leaving experts astounded and market participants exhilarated. Recent reports reveal that the real estate sector is undergoing a period of remarkable growth, with property values experiencing an extraordinary surge. Property prices across various cities and regions in Australia are undergoing a rapid ascent, leading to a frenzy of buying and selling activity. The market, once characterized by stability, has been shaken by this unexpected surge, prompting both homeowners and potential buyers to reevaluate their strategies. Analysts attribute this fervent increase in property prices to a confluence of factors, including a robust economy,

August 18, 2023 No Comments