2024 is already shaping up to be the year of the unit, with unaffordable house prices, high interest rates and population growth driving buyers towards cheaper properties in convenient locations. Recent data from CoreLogic reveals that unit values are experiencing faster growth than house prices across Australia. This trend is evident in more than half
Four years on from when the World Health Organisation declared COVID-19 a worldwide pandemic, CoreLogic research director Tim Lawless has revealed seven ways COVID changed housing trends. It was four years ago when the World Health Organisation declared COVID-19 a worldwide pandemic. Since that time economic trends, including housing metrics, have been on a roller coaster
2023 presented numerous challenges for the real estate sector, grappling with escalating interest rates, surging house prices, insufficient supply, and heightened demand. Looking ahead to the upcoming year, Domain's 2024 Outlook Report foresees a persistent uptrend in both house and unit prices, sustained high interest rates, and robust population growth. Domain's Chief of Research and
Palaszczuk Government backing first time home buyers by doubling grant, as part of a raft of cost of living measures delivered by the government. The government is doubling the First Home Owner Grant, taking the total to $30,000 for eligible first home buyers. This will come into effect from Monday, 20 November. This means more
The latest data from the Australian Bureau of Statistics (ABS) shows some patchy areas of recovery; however, the building and construction industry remains on high alert as high-profile insolvencies send shockwaves through an industry doing it tough. With the industry just starting to get back onto an even keel, now is not the time to
Sales of new homes continued to fall last month, as the ongoing construction crisis claims more casualties. The latest Housing Industry Association (HIA) report, which surveys the major builders in the five largest states, showed a 7.2% decline in the sale of new homes in March, extending the streak of losses due to the impacts
Queensland is falling behind in the race to build new homes in a further sign that there is no relief in sight for the state’s crippling housing and construction crisis, with industry commentators fearing it will get worse before it gets better. In 2021-2022, strong migration saw 40,000 new households looking for a home to
Whichever direction property markets go in 2023, construction companies may keep toppling. Record-setting real estate prices and elevated construction and transaction activity hasn’t correlated to a healthy building sector in recent years. High-profile construction company busts have been headline fodder in 2022, with every week seemingly seeing another builder going under. Insiders and analysts have
With cost of living pressures top of mind, new consumer research released today by Commonwealth Bank reveals Australians are looking to reduce expenses, increase savings and lift their incomes as part of their New Year’s resolutions. The research highlighted: 9 in 10 (93 per cent) Australians have a financial goal for the New Year 1 in 2
The building and construction industry continues to be buffeted by many challenges which show no sign of abating. Master Builders Queensland has undertaken a survey in order to gain a better understanding of the nature of these challenges, how they expect to change going forward and how contractors are responding in their business practices. Current
