Record-low interest rates mean that it is now cheaper to buy than rent, with first home buyers taking advantage, doubling their participation in the market, a big four bank CEO has said. With the official interest rate at a record-low 0.1 per cent, NAB CEO Ross McEwan has pointed to a surge in first home
Record low interest rates and a fear of missing out as house prices accelerate sharply are driving Australians to buy property in a booming market. Realestate.com.au’s latest Property Seeker report, which involved an online survey of 6700 Australians in December 2020, showed market conditions led by low rates and government incentives are now the key driver of the unprecedented buyer
Australian homes are in short supply and selling at record speeds, with the average number of days that homes are listed for sale hitting record lows in every state in March. According to a housing indicators report by realestate.com.au owner REA Group, dwellings were listed for 48 days on average last month, down from about
Are you feeling rich? Maybe you should be as not only did household wealth hit record highs at the end of 2021, the lift in wealth in the quarter was the biggest recorded in 11 years. According to the Australian Bureau of Statistics (ABS), household wealth skyrocketed by $501 billion in the last three months
The latest Queensland Market Monitor from the Real Estate Institute of Queensland revealed that almost every region saw property prices rise by more than 6 per cent over the December 2020 quarter. According to REIQ CEO Antonia Mercorella, the increase in values across the state, which has continued into 2021, comes off the back of record-low
With rents rising and vacancy rates dropping, the stars are aligning for property buyers, an expert has said. The Reserve Bank of Australia (RBA) has signalled that record-low interest rates are set to remain until 2024 at the earliest, bringing the cost of borrowing down to half of what it was at the same time
Australia’s biggest bank – the CBA – has just upgraded its housing market forecast, joining the long line of economists that have done a 180° about-face. CBA economists think Australia’s housing market is “on the cusp of a boom”, saying that surging momentum in the property market and leading indicators pointed to strong price rises.
Anyone who has juggled working from home, home schooling and family meal time in the same space during COVID-19 knows firsthand how the pandemic has changed what Australians need in their home. While people are generally seeking more space and flexibility in their homes, the pandemic-enforced shift to working from home is having the biggest
A record two thirds of Australians say now is a good time to buy property, according to the latest research from comparison website Finder. Having surveyed over 20,000 respondents in their Consumer Sentiment Tracker nationally, 67 per cent believe now is a good time to buy, an all-time high since Finder began tracking the stat in May 2019. It was 42
Trends in housing finance show the continued rise of owner occupiers and first home buyers, led by Queensland The volume of finance secured for the purchase of property experienced a strong rebound in the September quarter, following the initial shock to demand for housing in the first two months of the June quarter. The latest ABS
