(NewsNation) — U.S. home sales in May dropped to the third-lowest level in a decade as homebuyers continue to face elevated mortgage rates, record-high prices and low inventory. Last month, 407,959 homes were sold, down roughly 3% from a year ago, according to real estate brokerage Redfin. To put that in perspective, only two months … Read more
A group of homeless men living in tents behind a Salvation Army office in Adelaide’s northeast are being forced to move on — but there is nowhere else for them to go, with homeless shelters full across the city. Peter Woodforde is one of the four men living in a gazebo behind the office on … Read more
A NSW property is on the market for just $65,000 — but there is, of course, a catch. The Tottenham property, located about six hours from Sydney, is a former church. It is situated on 1010sqm and has power, water and sewerage available. Know the news with the 7NEWS app: Download today Photos included in … Read more
Covering the cost of weekly essentials is leaving Australians on JobSeeker and other welfare payments with little left over to pay other bills or incidental expenses. A single person out of work and living in a shared house would have just $127 of income each week after covering three core weekly expenses of rent, transport … Read more
Australian renters looking to move house had slightly more choice in April but with competition for vacant homes still fierce, prices will probably continue to rise. Vacancy rates have been holding at very low levels in most parts of the country, leaving more renters scrambling to secure the few available properties and pushing market rents … Read more
A high-profile Sydney real estate agent has lashed the government for not doing enough to help Australians through the housing crisis, as he claimed it would take a typical first home buyer 40 years to save for a deposit in Sydney. Tom Panos filmed himself in a café, highlighting one of the staff members working … Read more
The Reserve Bank has held interest rates, despite acknowledging stubbornly high inflation, in its third decision of the year. Tuesday’s decision means the cash rate will remain at 4.35 per cent, as it has been since the most recent hike last November. WATCH THE VIDEO ABOVE: RBA announces interest rate hold. Economists largely anticipated the … Read more
Melbourne is the only Australian city where property prices have fallen over the past month, new figures show. Australia clocked its fifteenth month in a row of house price growth, with prices gaining a further 0.6 per cent in April, according to Corelogic’s home value index. While each capital city saw an increase in property … Read more
The federal government is looking at making Islamic home financing increasingly accessible to help more Canadians break into the housing market. As part of the 2024 federal budget that was released last week, Ottawa said it is “exploring new measures to expand access to alternative financing products, like halal mortgages.” Last month, the federal government started consulting … Read more
The Australian dream of owning your own home is being “crushed” by rising rents and over-inflated house prices, a new report finds. After reviewing more than 45,000 rental listings, Anglicare Australia’s rental affordability report has declared the market the worst it has ever been. “This is not hyperbole,” the report released on Tuesday said. Newsletters: … Read more
