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As of the December quarter of 2023, housing affordability in New South Wales, Victoria, South Australia, Tasmania, and the Australian Capital Territory have been all at their lowest in 20 years. In the past 12 months (to the December quarter of 2023), the weighted average capital city Australian median house price grew by 5.3% to $$1,005,242, maki…
Continue reading >In Q3 2023, Tamworth recorded a median house price of $529,000, and a median unit price of $375,000. This represents annual (Q3 2022 – Q3 2023) growth of 13.0% for houses and 17.5% for units. Sales volume between Q3 2022 – Q3 2023 declined by -26.0% (to 211 sales) for houses and increased by 23.8% for units (to 26 sales). An undersupply in houses …
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Australia’s economy is entering a new phase following 12 consecutive cash rate hikes since May 2022. With the cash rate currently in a ‘hold’ pattern (at 4.1%), there is a multiplier effect on all facets of life. How does this impact the property market for the rest of 2023 and early 2024? And is the cash rate the only issue?
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The PRD Affordable and Liveable Property Guides 2nd half 2023 are available for Brisbane, Sydney, Melbourne, Hobart, Gold Coast, and Perth. These guides provide valuable insights on property trends and how current economic conditions (including cash rate hikes) have impacted the market, as well as future developments for the next 6 months. For tho…
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The Australian property market is made up of many ‘micro markets’, each performing at its own individual pace dependent upon demographics, population growth, economic structure and fundamentals, and …
COVID-19 is, without a doubt, a disruption and game-changer at the same time. There are many uncertainties at present, and quite a few “doom and gloom” stories on a collapsing economy and being on th…
The perceived trend of millennials prioritising lifestyle experiences (such as buying smashed avocado on toast), over home ownership aspirations prompted a deeper look into this claim.
PRD’s latest research report ‘Australia Bushfires | The Real Estate Perspective’ shines a light on the silver lining to the devastating impact many Australian communities have experienced.
A key finding in this report was that in order to identify affordable and liveable areas, suburbs with declining annual median house or unit price growth had to be considered. This was the same metho…
New South Wales (NSW) recorded a home loan affordability index reading of 26.9 points, which represents a 2.3% improvement in the 12 months to the June quarter of 2019. Although this is below the Aus…
ew South Wales (NSW) continues to offer increasingly affordable opportunities in its property market, with its home loan affordability index at 28.3 points in the March quarter of 2019.
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