Tag: house prices
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Property prices charge up amid buyer rush
Property prices have recorded the sharpest growth in more than two years after the government’s deposit guarantee scheme ignited demand for entry-level homes. The first-home buyer scheme, which was expanded at the start of October, appears to have turbocharged the growth in house prices that had already been occurring since the Reserve Bank started cutting…
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A million dollars to live in Murrumba Downs? Qld’s new seven-figure suburbs
Million-dollar homes are increasingly commonplace in Australia, with new research showing roughly one in every three suburbs pack a median seven-figure price tag. According to a new paper by property data company Cotality, 195 suburbs across the country have jumped into the exclusive club after strong housing market gains over the last 12 months. In…
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Housing scheme will level the playing field: PM
Anthony Albanese has brushed off suggestions a scheme designed to help more young Australians buy a home could drive up property prices. Labor’s five per cent deposit scheme took effect on Wednesday, allowing eligible first-home buyers to get a mortgage with a much smaller deposit and avoid paying for lenders’ mortgage insurance. Some analysts argue…
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Soaring house prices may be locking people into marriage
House prices continued to rise across Australia in June, recent data shows. Nationally, prices have risen about 38% in the past five years. Higher housing prices are simply one contributor, albeit a very important one, to the cost-of-living crisis that Australian households face. Energy prices are another. Those higher costs of living and the financial…
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Regional SA house prices hit new high
The price of a home in regional SA grew by 0.57 per cent over October, making it the highest growth market in the country according to new PropTrack data. With a median price of $449,000, the cost of housing in the state’s regions is as expensive as it’s ever been and up more than 75…
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Double-digit rise in Adelaide rents in 12 months
PropTrack data released today shows the median price of a rental in Adelaide has hit $580 per week – up 10.5 per cent in a year. It’s the second-largest annual increase in rent prices of all capital cities after Perth, where the median price of a rental rose by 12.1 per cent to $650 in…
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Affordability fears as Adelaide houses become more expensive than Melbourne
Both the Property Council of Australia and Shelter SA have renewed calls for action on housing in the state after news that Adelaide’s median home value climbed past Melbourne’s in August for the first time since CoreLogic started keeping records 40 years ago. The Adelaide median house price is now $790,800, compared to Melbourne’s $776,044.…
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Adelaide property price growth to moderate
A new PropTrack Property Market Outlook Report found that Adelaide property prices are set to rise between 5 per cent and 8 per cent in the 2024-25 financial year, down from 12.9 per cent growth over the past 10 months. But property price growth in Adelaide will be the second-strongest nationally in FY25, after Perth…
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How this Queensland city has boomed despite China’s dead cat bounce
Everyone was waiting for China to reignite tourism. Politicians led trade missions, airlines rescheduled services, airports celebrated and destinations started putting out the welcome mat and they waited … and waited. Compared with other markets like New Zealand, the rebound from China has been a dead cat bounce, less than half the 2019 levels when…
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Luxury unit market to climb as corporate landlords enter residential market
Significant changes occurred in the property market this year and some of them were likely to continue in 2024. Conisbee said one of them would be who owned the rental properties as Australian and global institutional owners of property were looking to residential markets as an investment of choice. “Spanning “build to rent”, retirement living,…