A five-bedroom house in South Australia’s outback is being advertised for just $50,000. The Coober Pedy home on Big Johns Rd includes air-conditioning, built in wardrobes and is located near the town’s main street. Real estate agency, Andrews Property Regional SA, said the previous tenant was paying $180 per week to stay in the home. … Read more
Tens of thousands of homes are vacant across NSW, new data has revealed, as state and federal governments scramble for solutions to the country’s housing crisis. In New South Wales, about 43,183 inactive or vacant homes have been identified, with about 22,000 of the houses in Greater Sydney. The City of Sydney has 1757 inactive … Read more
House prices have surged more than 30 per cent across Australia since the outbreak of COVID-19, a report has found. Since COVID was declared a global pandemic in March 2020, property group CoreLogic found its national home value index rose by 32.5 per cent. The increase meant the median value of an Australian house rose … Read more
The Australian suburbs where buyers can secure a home with mortgage repayments on par with the nation’s average rent have been revealed in new data. Australia’s median weekly rent was $570 last year, according to CoreLogic’s 2023 rental report. An analysis of the market by PropTrack found more than 350 locations across the country where … Read more
The SA government has extended the eligibility of a 2 per cent deposit scheme for first home buyers. Previously, the 2 per cent deposit loan offered through state-government backed lender, HomeStart, was only available to eligible tertiary education graduates. Treasurer Stephen Mullighan announced on Monday the scheme would be extended to all first homeowners financing … Read more
Housing prices in one picturesque area on the NSW coast have dropped by up to $187,000 in the past year, according to new data revealing the beachside suburbs where values have fallen the most. Home values across the 25 oceanfront suburbs — mostly located on the NSW Central Coast, Sydney’s Northern Beaches and the Mornington … Read more
Australian median rental prices have hit new records, with the average dwelling costing $601 per week or $31,252 annually. Nationally, rental prices increased 8.3 per cent between January and December 2023, CoreLogic’s latest report found. It said the increases have averaged 9.1 per cent for the past three calendar years, whereas the annual growth rate … Read more
Former Sunrise host-turned Compare the Market economic director David “Kochie” Koch has crunched the numbers to expose a growing wealth gap in the housing market. He linked spending by those in the older generation to a boom in inflation, and explained how mature Australians have been shielded from rate rises, in a “tough pill for … Read more
Another month of convincing home price growth in Perth, Brisbane and Adelaide has been recorded as poor affordability keeps the two biggest capital city markets in check. Dwelling values across the three smaller cities have been rising by about one per cent a month since May, based on analysis of CoreLogic’s home value index. Nationally, … Read more
The end of COVID-19 didn’t herald the end of issues plaguing the construction industry, including lengthy wait times to complete homes and residential builders going bust. Housing Industry Australia South Australian director Stephen Knight said the average time for a house to be finished is now about 14 months — still much longer than the … Read more
