UPS AND DOWNS
Market comment: UPS AND DOWNS
Prices up, cash rate steady, affordability down 2024 is underway, with a Sydney property market that's still big on demand and short on supply. There's also an ever-growing set of challenges for those wanting to enter the market that are the result of recent economic developments, as is shown by new data from CoreLogic. Tim Lawless, CoreLogic's director of research, ...
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IT'S A HAPPY NEW 'MARKET' YEAR
IT'S A HAPPY NEW 'MARKET' YEAR
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PLANNING FOR THE FUTURE
Market comment: PLANNING FOR THE FUTURE
Politics and planning changes – a different Sydney for the future As part of its moves to take control of the state's housing targets and increase the supply of housing, the Minns government has decided to abolish the Greater Cities Commission and give responsibility for determining these goals to the NSW Planning Department. When the Commission produced its draft recommendations ...
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SUPPLY AND DEMAND
Market comment: SUPPLY AND DEMAND
RBA, ABS, BTR, FOMO and the Law of Supply and Demand Domain's property journalist Melissa Heagney-Bayliss recently asked economists from the big four banks the question “what's the outlook for property prices in 2024?” Her conclusions from their answers were that house prices will rise between three per cent and five per cent; a lack of housing supply will keep ...
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UP UP & AWAY
Market comment: UP UP & AWAY
Sydney's property rebound surges ahead as more rises forecast The rebound in housing prices across Australia has brought joy to homeowners but caused some problems for newly-installed RBA governor Michele Bullock. Along with the $336 billion resurgence in prices calculated by the Australian Bureau of Statistics has come more threats of inflation, and that's been a driver of cash rate ...
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ON THE LOOKOUT
Market comment: ON THE LOOKOUT
Listings up, property prices up, interest rates steady August was quite a month in Sydney property, and September is following the trend. First, prices of Sydney property continue to rocket ahead. CoreLogic's figures showed Sydney's prices rose 1.1 per cent in August while more stock has begun arriving onto the market in time for the Spring selling season. New listings ...
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Waving Not Drowning
Market comment: Waving Not Drowning
Population, property prices grow faster than house numbers Sydney's winter may deliver cooler evenings, but in the light of day the heated property market continues to bring price increases that Domain calls ‘hyper-growth'. Nationally, home values have shot upwards at the fastest rate since 2021, and in Sydney the median house price rose $500 a day during the first six ...
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SUPPLY DROUGHT
Market comment: SUPPLY DROUGHT
Low supply and big demand, plus no prime rate increase, but for how long? June was yet another good month in the Sydney property market as figures from CoreLogic show. Sydney house prices rose 1.7 per cent in the month which takes the cumulative recovery to 6.7 per cent since January this year. This translates into a weekly hike of ...
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UP SHE GOES
Market comment: UP SHE GOES
More gains likely for Sydney house prices and rentals Sydney housing prices are proving to be incredibly resilient, despite an economic slowdown and twelve interest rate increases in a little more than a year. Of all Australian capital cities, Sydney has continued to produce the largest price gains, with home values rising by 1.8 per cent in May – the ...
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TIME TO SMILE
Market comment: TIME TO SMILE
A pause in rate rises and signs of a price recovery The Reserve Bank's decision in April to leave interest rates where they are brought a sigh of relief from almost everyone connected to the property market. It was a welcome break from the string of ten consecutive monthly rises in 2022 and 2023 that have impacted property prices across ...
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DOWN BUT NOT OUT
Market comment: DOWN BUT NOT OUT
Sydney property looks forward to halt in interest rate rises With Australian property prices having fallen nationwide, largely as a result of the RBA's interest rate increases that have made it harder for borrowers to acquire funds for housing, there is naturally a mounting wave of speculation about when the price falls will stop and a cyclical upswing will get ...
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ENJOY THE RIDE
Market comment: ENJOY THE RIDE
A buyer's market as price declines start to slow The most recent peak in Australia's house prices was in May 2022, and since then they've fallen by 8.4 per cent. Median values dropped in more than 2400 house and unit markets nationally in 2022, CoreLogic's Mapping the Market Report shows, with the downturn spreading to 51.7 per cent of analysed ...
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HURRY UP AND SLOW DOWN
Market comment: HURRY UP AND SLOW DOWN
A new year and maybe one with a recovery in sight .... Housing prices around the world fell in 2022. In Sweden housing prices finished the year down 15 per cent. In America, Seattle housing prices fell 9.5 per cent and San Francisco prices lost 11.6 per cent in just the last five months. Canadian housing prices are down 10 ...
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The Unanswered Questions Continue
Market comment: The Unanswered Questions Continue
Unanswered questions. They just keep coming ! In November, Australian home values lost slightly more than one per cent based on CoreLogic's 5 capital city index, bringing the cumulative fall to 7.7 per cent since the market's May 2022 peak. Sydney prices have fallen by 11.4 per cent from their highest point. CoreLogic's data gives a capsule image of the ...
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I'VE GOT MONEY IN MY POCKET
Market comment: I'VE GOT MONEY IN MY POCKET
Interest rate rises make this a buyer's market for those with finance With property prices falling, many sellers are becoming more receptive to the offers they receive. There are some two dozen Sydney postcodes where property values have retraced to pre-pandemic levels: Suburbs like Darlinghurst, where CoreLogic figures show house values are down 13.7 per cent from their March 2020 ...
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WILL THEY PUSH THE BUTTON ?
Market comment: WILL THEY PUSH THE BUTTON ?
Rates rise and prices fall while sellers retreat and buyers wait It's easy to see the effects of rising interest rates on housing prices. Property values were still showing modest monthly increases of around 0.3 per cent in the first months of 2022, CoreLogic's home value index showed, but those rises came to a sudden stop after the first rate ...
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SPRING SELLING SEASON HAS SPRUNG
SPRING SELLING SEASON HAS SPRUNG
Spring selling season begins as the Sydney property market settles As we enter the spring selling season there are signs that buyers are reducing their budgets and sellers are revising down their expectations from the highs of 2021 to meet the market. More new homes are being listed for sale and listings are 26.4 per cent higher than the same ...
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DON'T WORRY .... BE HAPPY
Market comment: DON'T WORRY .... BE HAPPY
Rates rise again, Reserve Bank isn't worried At its August meeting the Reserve Bank increased the cash rate by 50 basis points, to 1.85 per cent. This will further reduce the amount the average family can borrow to purchase a home, and some analysts have forecast the RBA will raise the cash rate by another two full percentage points before ...
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LET THE GAMES BEGIN ......
Market comment: LET THE GAMES BEGIN ......
Rising interest rates drive big changes in the property market Over the past year, at its peak the property boom had created 450 suburbs across Australia with a median house value exceeding $1 million. Sydney had the greatest number of suburbs joining the million-dollar club with 128 suburbs making the list. These included suburbs from the south-west (30 suburbs), outer ...
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Forecasting The Future
Market comment: Forecasting The Future
Prices ease, buyers back in the driver's seat, and forecasts for the future This time a year ago, property prices were rising fast and first-home buyers were in hot competition with investors to acquire properties across Sydney. Now, prices are easing as interest rates go up and the property market is returning to conditions that were considered ‘normal' until the ...
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