RESIDENTIAL PROPERTY
AFFORDABILITY constraints are pulling back on rental growth – which has hit its lowest level in four years – providing some minor respite for renters, many of whom have been...
CoreLogic’s latest data showed the Australian rental market has experienced its slowest growth in four years, lifting just 0.1% month-on-month in July – a stark contrast to the...
Results were varied across the country. Rents rose 0.6% in Adelaide and 0.3% in Melbourne and Perth, while remaining flat in Darwin and Canberra. In contrast, rents have declined in...
We’ve seen a shift away from the more expensive sort of house market towards the more affordable unit market, as well as the shift to some of the more affordable regional...
The unit market is also a little less heated – with a national vacancy rate of 2.1%, compared to 1.1% for detached homes, according to PropTrack...
We’ve also seen a bit of a change in the formation of households. There’s been a reforming of the share houses that broke up over COVID. Also, people are moving back in with...
Rents to ease further
CoreLogic expects the pace of rental growth to continue to ease, particularly as affordability issues stretch further. As well as surging rents, there has also been a cost-of-living...
Whether that results in national declines it’s hard to say. But it does appear evident that the demand that was driving those double-digit rental increases just isn’t there to...
The tight rental market and high gross yields continue to encourage investors into the housing market at a higher rate than owner-occupiers, the latest official...
Obviously, anything that will increase rental supply will have a cooling effect on rental value. So as we see more investors entering the market, that should help keep a lid on...
Supply mission
National cabinet’s National Housing Accord officially started last month, aiming to deliver 1.2 million homes around the country over five years and turbocharge housing supply to...
However, a low base of approvals and new housing starts, and issues in the construction industry mean the target is unlikely to be reached. Australia would need...