Australia News

It’s no secret that the real estate market in Sydney has been a hot topic for the past decade. With demand far outstripping supply, house prices have skyrocketed, making the dream of homeownership a distant reality for many. However, even within the current climate, some suburbs are experiencing unprecedented growth in property values. According to recent data from CoreLogic, some suburbs have seen their median house prices soar by over 30% in the past year alone. Let’s look at some top-performing Sydney suburbs where house prices have risen the most. Dulwich Hill Nestled in the Inner West, Dulwich Hill has

According to modeling by CoreLogic, even though the rental market in Sydney is highly competitive, the significant rent increases have not kept up with the rising mortgage costs in any council area, resulting in new investors being in a worse financial position by potentially thousands of dollars per month. A Sydney investor who purchased in March would spend $334 more weekly on mortgage repayments for a median-priced dwelling than if they bought it three years ago. By comparison, the median weekly rent raised $127 between March 2020 and March 2023, defecting mortgaged landlords $207 worse off. Investors in the Ku-ring-gai

Sydney has one of the most costly real estate marketplaces in the world. Still, Singaporean Julian Choo, who relocated to Australia in 2010, and his Australian-Malaysian wife Joanne Chai were able to purchase their first house there four years ago. Shortly after their acquisition, the Covid-19 epidemic broke out, and their property’s worth skyrocketed as interest rates hit a new low of 0.1 percent. The central bank’s promise that interest rates wouldn’t increase until at least 2024 encouraged the pair to make another real estate investment. At the end of 2021, they made a wise investment by purchasing a home

Despite falling home costs due to higher interest rates, youthful Australians are being shut out of the market. According to the latest statistics from the Australian Bureau of Statistics, the number of people purchasing their first house in January fell by 8.1%, reaching its lowest since February 2017. Six years ago, in that very same month, the Australian Prudential Regulation Authority declared an assault on interest-only and investment loans, which triggered a decline in the housing market. In January 2021, two months after the Reserve Bank of Australia reduced interest rates to a record low of 0.1 percent, there was