Brisbane, the capital city with the fastest-growing property prices in Australia, has rocketed to 10th on the global list of annual capital city residential rises. According to Knight Frank’s global residential cities index, which tracks the movement of average residential prices across 150 cities worldwide, Brisbane has shot from 89th position at the same point
Worsening skill shortages will be “the challenge of the decade” for Australia’s under-pressure construction industry, a new report has warned. Construction job vacancies have increased by a massive 80 per cent since late 2019. It is forecast that by 2023 there will be more than 100,000 unfilled roles in the sector. “This will be almost 50
It's no doubt Australian's love property. We love discussing, renovating, building, looking at and buying property. It's also undeniable we love investing in property, with about two (2) million or 21% of Australian households holding an investment property. This number has increased by 13% over the last five years. Property Commentator Michael Matusik explains that of
Record rainfall levels across Queensland is causing havoc for builders, as construction timelines blow out and labour shortages continue. Bureau of Meteorology have just released a new climate report that points to the big wet in NSW and Queensland extending for months. The Special Climate Statement reveals that the 2022 southeast Queensland flood peaks haven't
It’s official – Australia now has a new PM after Scott Morrison’s defeat over the weekend. But what does Labor leader Anthony Albanese’s historic win mean for Aussies already feeling the pinch as our cost of living crisis rages on? According to H&R Block’s director of tax communications Mark Chapman, the change in government could
Australia’s construction sector is facing crisis as builders struggle with surging costs for raw materials, worker shortages, supply chain delays, major weather events and looming interest rate rises. The chaos is also hitting consumers, who are facing long building delays and unexpected cost blowouts. Westpac chief economist Bill Evans warned Australia would be building “a
Over the past year, national house price growth has outstripped the pace of unit prices but with both markets levelling out, that gap in performance is narrowing. House and unit prices rose again in March, and in the first quarter of 2022, but the pace of growth is slowing and it is house prices that
A lift in the price caps within the Federal Government's Home Loan Deposit Scheme means home buyers will have a broader range of properties they can now buy. The scheme helps first-home buyers purchase a property with a 5% deposit without needing to pay costly lenders' mortgage insurance. The cap will rise by $100,000 across
Let’s start with some helicopter numbers. Table 1 outlines the current housing rental vacancy rates across the larger urban areas in Australia. Most locations have a vacancy rate under 1%. Weekly rents for detached houses have risen by 15% over the last twelve months. It now costs, on average, $570 per week or $30,000 per year
The Brisbane property market has retained its position as the fastest growing capital city property market in the country. House price growth continues to outpace unit price growth, however, the gap is closing between the different product types. Supply in Brisbane remains tight, and off the back of the floods it is possible that this
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