Posted
on 20 February 2023
Source: REIQ
The Real Estate Institute of Queensland (REIQ) says calls from tenants’ advocates for rent control in Queensland is a short-sighted solution to a complex problem.
REIQ CEO Antonia Mercorella said rent control would not be a panacea for the rental crisis and would likely have the opposite effect and exacerbate challenging rental conditions.
“We are acutely aware of the devastating impacts of the rental crisis and against that backdrop, it’s understandabl...
Posted
on 6 February 2023
Source: Australian Property Journal
Housing finance fell again over December, in the eleventh consecutive decline bringing lending down 31% from its January 2022 peak.
According to the latest data from ANZ Research, housing lending excluding refinancing was down 4.3% in December 2022, following a 4.2% decline in the previous month.
The drop in lending was similarly felt for both investors and owner occupiers, at 4.4% m/m and 4.2% m/m respectively.
Despite these declines, total lending for i...
Posted
on 6 February 2023
Source: Australian Property Journal
After a seasonal rise over December, the national vacancy rate has again fallen to its lowest point on record for January at 0.8%.
According to the latest analysis from Domain, the return to vacancy declines indicates Australia’s highly competitive nature, with asking rents also at historic high levels.
Vacant rental listings in January were 36.1% lower than in the same month in 2022 and at all time January low, with increased demand completely abs...
Posted
on 24 January 2023
Source: Courier Mail
In a market where rents are rising 25 per cent, soft er prices and rising rates do not explain the exodus of private investors.
In every city across Australia the rent crisis is hitting hard. Anyone who needs to rent finds out very quickly there is very little on offer and prices are rising rapidly. For property owners, however, it’s a red-hot market. The single biggest risk for private investors in property investment – the risk of missing rental inco...
Posted
on 24 January 2023
Source: Australian Property Journal - Bruce Bradbury, Assoc Prof, Social Policy Research Centre, UNSW Sydney
For many Australians, the rent crisis is just starting. Advertised rents have been soaring, but mainly for new rentals – so called“asking rents”.
The broadest measure of rents actually paid – the rents on the 480,000 or so capital city properties the Bureau of Statistics uses to calculate the consumer price index – has climbed only modestly, increa...
Posted
on 24 January 2023
Source: Australian Property Journal
AUSTRALIAN home values recorded the greatest decline on record in the first month of the new year.
CoreLogic’s Daily Home Value Index (HVI) took an 8.40% tumble on 7 January 2023,from its peak on 7 May 2022. This latest index result eclipsed the previous record in peak-to-trough declines, when home values dropped 8.38% between October 2017 and June 2019.
CoreLogic noted that the previous housing downturn between 2017 and 2019 held for 2...
Source: API Property Journal
AUSTRALIAN house prices are falling at their fastest rate since the early 1980s recession, and rising interest rates could see 30% wiped off values.
Values fell by 1.3% in July, marking the third consecutive drop for CoreLogic’s national Home Value Index. After prices surged 28.6% through the pandemic growth phase, they are now 2.0% below the April peak.
Five of the eight capital cities recorded a month-on-month decline, led by Sydney and Melbourne w...
Source: The Chronicle
Essential workers such hospital workers and teaching staff, even students, are struggling to find a rental as Queensland’s vacancy rates plummet to punishing new lows across parts of the state.
The REIQ’s Residential Vacancy Report for the June Quarter 2022 shows that vacancy rates have fallen again across 21 of the 50 Queensland housing markets, with two regions – Goondwindi and Southern Downs –practically putting up the “no vacancy sign&...
Source: REIQ
The rental supply squeeze has kept a tight grip on Queensland, despite some slight increases in vacancies on the coasts, according to the Real Estate Institute of Queensland’s (REIQ) latest report.
The REIQ’s Residential Vacancy Report for the June Quarter 2022, released today, showed the vast majority of Queensland continues to endure incredibly tight and relatively flat vacancy rates, well below one percent, a far cry from a healthy 2.6 – 3.5 percent r...
Source: CoreLogic
Australia’s rental market continues to tighten as low supply levels cause national vacancy rates to dive and rents to rise across all capital cities and property types over the past three months.
CoreLogic’s Quarterly Rental Review for Q2 2022, released today, shows the national rental index increased 0.9% in the month to June and 2.9% over the June quarter, a 30 basis point increase on the three months to March.
Dwelling rents are 9.1% higher across the...
