Real Estate and Property Market News

Despite skyrocketing house prices, there's still hope for first-time buyers! A new report reveals hidden gems – the cheapest property pockets across Australia.

Fairfield City Mayor Frank Carbone told Sky News Australia the dream of homeownership is fading for many as developers find themselves priced out of the game.

Millennials (born between 1981 and 1996) now make up the largest share of new property investors, accounting for a whopping 46% in 2023. This surpasses Gen X (1965-1980) who came in second at 37%.

Urban Development Institute of Australia President Col Dutton argues that greater cooperation between the federal and state governments is the key to tackling Australia's housing crisis.

Minister Jackson pointed to both the Goods and Services Tax (GST) and recent cuts to infrastructure funding as evidence that NSW isn't receiving its fair share of federal resources.

The Australian property market is showing no signs of slowing down in 2024, with auction clearance rates remaining "very strong" according to REA Group Senior Economist Paul Ryan.

According to Deputy Opposition Leader Susan Ley, the rising cost of living combined with a lack of clear housing policy from Labour is creating a sense of hopelessness among young Australians.

Australia's housing market defied expectations, with prices creeping up again in February. CoreLogic's national home value index showed a 0.6% increase, marking the strongest monthly gain since October 2023.

Hundreds of new apartments are popping up across Sydney, but they're not for sale. This innovative "build to rent" model is simple: large, professionally managed buildings specifically designed for renters, not buyers. With 19 projects underway, areas like Parramatta, Ryde, and Canterbury-Bankstown are embracing this new approach.

While rising interest rates are a contributing factor, new research reveals a shocking truth: a record number of Australians are struggling to keep up with their mortgage payments, and it's not just due to higher borrowing costs. The latest data shows that over 1.6 million homeowners, or 31%, are now "at risk" of mortgage stress.