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
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
According to CoreLogic’s 2022 Women & Property report for Australia and New Zealand, women continue to have a lower total percentage of property ownership than males, possibly putting them at a disadvantage from recent real estate wealth advances In Australia in January 2022, 26.6 per cent of residential property was owned by women, compared to
New research from Canstar reveals that 11 million Australian adults are worried they will be unable to afford household bills amid skyrocketing living costs. Housing costs including rent or mortgage repayments were cited as the biggest concern. And 72% of borrowers will need to forgo certain expenses to afford higher loan repayments. THE EFFECTS OF
There’s no denying that buying a home is a big decision and yet you may be surprised by the number of people who are influenced by factors other than price, resale value, and location. From the number of a house to a lick of new paint on the walls, it seems we are influenced
When it comes time to draw on your portfolio’s hard-won equity for re-investment, there’s no escaping the valuation process. While there are a number of professionals who can give you a reasonable idea of what your holding is worth, the one that counts most is the registered property valuer because banks rely on their opinion
New research on the Sunshine State’s 10-year forecast reveals steady tailwinds for the property market. Colliers has foreshadowed a “golden decade” for Queensland property with the release of its new report, Queensland 2022 and Beyond, which looks at the economic factors that will impact the state’s housing market in the coming years. The 2032 Olympic
