US EditionHouse values jump on rate cut, denting home buying hopes for young
- Some regions in Australia have seen significant property value increases, with Western Australia's Midwest at 25.4%, Queensland's Townsville at 23.5%, and South Australia's Yorke Peninsula at 17.2% over the past 12 months.
- Housing affordability remains low as the national dwelling value to household income ratio is estimated at 8, with record loan serviceability levels.
- A report shows that young home buyers lost $54,000 in purchasing power due to slow wage growth, significantly impacting their ability to afford homes.
- Emma Dawson from Per Capita stated that the lack of real wage growth between 2012 and 2022 has forced younger Australians to depend on family support for purchasing property.
13 Articles
13 Articles
Property values reach new record high after interest rate cut
Australian property values reached new record highs in March, reversing a recent downward trend, according to market analysts at CoreLogic.The company's national Home Value Index showed an overall increase of 0.4 per cent for the month.It makes March the second consecutive month of property value growth, after a three-month decline which saw values drop 0.5 per cent.READ MORE: 'Cannot be avoided': Big change coming to every cigarette todayIncrea…
Canberra scores biggest increase in home prices
The lift in CoreLogic’s national Home Value Index was broadly based with rises in every capital city except Hobart, along with all the rest-of-state regions. By Farid Farid Homeowners will have an extra pep in their step as figures show Australia’s property market returning to record highs. Values increased 0.4 per cent over March after the Reserve Bank cut interest rates for the first time in four years. The lift in CoreLogic’s national Home Va…
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