Tag: housing boom

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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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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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Multigenerational living: Should you live with your parents forever?

Multigenerational living: Should you live with your parents forever?

More Aussies are taking in their elderly parents, while fewer kids are flying the family nest, making instances of multigenerational living more common.

Once upon a time, this kind of living scenario wasn’t uncommon, with two or three generations more likely to live together under one roof. But it faded away over the past 100-odd years as rising wealth and societal changes in the West saw living in smaller family units favoured.

Now, for a number of reasons, chief amongst them affordability concerns, multi generational living is on the rise once more.

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Is now the best time to buy property?

Is now the best time to buy property?

New listings are up strongly, as activity ramps up as we enter spring selling season. So is now the best time for buyers to consider purchasing a property?

Choice for buyers continued to improve in August, with the total number of properties listed for sale lifting 3.9% month-on-month as market activity picked up ahead of the spring selling season.

August saw new listings in capital cities up 11.3% month-on-month after a seasonally quieter July.

Regionally, new listings were up 7.9% month-on-month in August.

Nationally, the total number of properties listed for sale was up 3.9% month-on-month in August as the busier month of new listings helped increase choice for buyers. The increase in the month brought the total number of properties actively listed for sale up 13.7% compared to a year ago – the largest year-on-year increase since 2010.

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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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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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