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
Australian mortgage holders can breathe a sigh of relief following the Reserve Bank of Australia’s decision to pause cash rate hikes. The RBA met on Tuesday and decided not to hike the cash rate for only the second time since last May. WATCH THE VIDEO ABOVE: Economists make their rates predictions as threat of recession … Read more
West Australian building company Modco Residential has entered voluntary administration, blaming rising costs and the media for its downfall. The WA building regulator, Building and Energy, warned the public to be “cautious” when dealing with the company because it had significant reason to believe it was under financial stress, with several court cases launched against … Read more
Australian mortgage holders can breathe a sigh of relief with the Reserve Bank holding steady on interest rates in consecutive months for the first time in more than a year. The RBA board met on Tuesday and decided not to hike the cash rate, mirroring the July decision. WATCH THE VIDEO ABOVE: New data shows … Read more
Mortgage holders can breathe a sigh of relief with the Reserve Bank of Australia holding steady on interest rates for a third consecutive month. But the outgoing governor has warned that an uncertain financial outlook could force the central bank’s hand in the near future. The RBA board met on Tuesday and decided against hiking … Read more
Adelaide builder Qattro has been placed into voluntary administration, with the company’s boss blaming the COVID-19 pandemic for its demise. Qattro’s managing director Bradley Jansen said he had “exhausted all options” to try to help the company recover post-pandemic, only for supply chain issues and labour shortages to hamper his efforts. “I have made significant … Read more
Karen Scarlett had been eagerly waiting to move into her dream home that’s been under construction with Adelaide-based builder, Qattro, for three years. Now she faces the idea of giving it up all together to buy another home, which could cost her $150,000 more than the first house, or continue renting. “When you’re on a … Read more
