Tag: home price surge

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No relief in sight: Australia faces worst housing affordability in 30 years

No relief in sight: Australia faces worst housing affordability in 30 years

Housing affordability is now at its worst level in at least three decades, according to the PropTrack Housing Affordability Index – a new comprehensive measure of the share of homes that households can afford to purchase across the whole income distribution.

Affordability is toughest in New South Wales, Tasmania and Victoria. This deterioration in affordability has been driven by a dramatic rise in
mortgage rates, combined with rising home prices over recent years.

At the same time, sharply higher price growth throughout the pandemic has meant housing accessibility — how long it takes new buyers to save a deposit — remains incredibly challenging.

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Untapped potential: 3 reasons regional property markets are booming

Untapped potential: 3 reasons regional property markets are booming

The PropTrack Regional Australia Report for 2022 has been released and it’s giving us a deep insight into the state of the Australian regional property market. The report shows that there have been some significant changes in the market since the start of the pandemic, and many of these changes are likely to continue in the coming months.

According to the report, regional areas have seen a surge in demand, with many people moving out of the cities and into more affordable regional locations. This trend is expected to continue, with regional areas predicted to see further price growth in the future.

However, the report also reveals that not all regions are performing equally, with some areas experiencing more growth than others. It’s clear that regional buyers need to be aware of the local market conditions and trends, in order to make informed decisions when buying or selling property.

Overall, the PropTrack Regional Australia Report provides valuable insights into the state of the property market in regional areas. If you’re considering buying or selling property in these areas, it’s important to stay informed and make strategic decisions based on the latest market trends and conditions.

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Australian property market 2023: Brace for falling house prices

Australian property market 2023: Brace for falling house prices

With 2022 already seeing a retreat in house prices from their record highs, experts are now predicting that the falls will become more pronounced.

PropTrack’s Cameron Kusher discusses the expected downturn and the factors driving this trend. He explains how changes in interest rates, borrowing capacity, and the effects of the pandemic all contribute to the anticipated decrease in house prices outlined in the PropTrack Market Outlook report.

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Making sense of the real estate downturn

Making sense of the real estate downturn

Australia’s real estate market is undergoing a downturn, causing worry for property owners and investors.

Economic factors such as low interest rates, weakened economy, and tighter lending standards are affecting demand. Oversupply in certain areas, particularly in the apartment market, has led to decreased property prices. Moving from cities to regional areas has also impacted certain areas.

However, it’s important to note that the downturn is not affecting the entire country equally and some areas are still stable or growing. To make informed decisions about property ownership and investment, it’s crucial to understand the context of the market and not just focus on the downturn.

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Housing affordability: How other countries are tackling housing shortages

Housing affordability: How other countries are tackling housing shortages

REA Group and Proptrack economist Anne Flaherty explains how housing affordability and housing shortages has become an issue in recent years and what other countries, like New Zealand are doing to help, including lowering barriers for medium density development and build-to-rent developments to provide stability for renters.

0:37 What countries are struggling with housing affordability
1:48 Build-to-rent developments

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Is the great Australian dream of homeownership dead?

Is the great Australian dream of homeownership dead?

REA Group and Proptrack economist Anne Flaherty looks at falling rates of home ownership among Australians, rising house prices and the difficulties first home buyers have in saving a deposit.

0:25 Current state of housing affordability in Australia
1:26 Shifting home buyer perceptions

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Would you buy a home with your sibling?

Would you buy a home with your sibling?

With property prices rising 24% last year, cracking the market remains tough for many young people – prompting some to explore buying with a different type of ‘partner’.

Real estate experts say buying with a sibling is an increasingly popular path to homeownership that can be an overwhelmingly positive experience for both parties, but warn there are serious considerations.

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How much more interest you’re paying on your mortgage

How much more interest you're paying on your mortgage

The RBA raised interest rates by another 50 bps in July, and the market expectation is that it’ll rise by another 1.5% by the end of the year. Homeowners in affordable, family-friendly suburbs may be most affected by the Reserve Bank of Australia’s recent interest rate rises, new data suggests, and PropTrack economist Angus Moore explains how this will affect mortgage holders.

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Is the Great Australian property dream still realistic?

Is the Great Australian property dream still realistic?

A quarter-acre block with a family sized home and big backyard was long desired by Australian buyers. But is this dream still realistic?

Our love for the big family home took hold when new suburbs were being developed rapidly and there was abundant space for low-density living. This is simply not as viable in today’s competitive market.

House prices Australia-wide have accelerated significantly in recent times, making the purchase of large blocks and homes more challenging – particularly for first home buyers. So what are developers doing to help the affordability crisis? Is there a solution?

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