Stage 3 Tax Cuts: Will It Allow Greater Access to the Property Market?
June 27, 2024, midnightFrom the Desk of the Chief Economist
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From the Desk of the Chief Economist
Continue reading >The PRD Affordable and Liveable Property Guides 1st Half 2024 are available for Brisbane, Sydney, Melbourne, and Hobart. These guides provide valuable insights into property trends and how current economic conditions (including higher interest rates) have impacted the market, as well as future developments for 2024. For those looking for more affo…
Continue reading >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 >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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Between 2017 and 2018, Sydney Metro median house prices have softened by -5.6%, whilst units have softened by -2.5%. Affordable options can be found in Sydney’s South Western suburbs.
Median property prices in Hobart grew by 1.7% (houses) to $450,000 and 4.0% (units) to $340,000 between 2017 and 2018. During this time sales transactions softened by -41.1% (houses) and -50.3% (unit…
The ACT’s small scale in comparison to other states means it can stand tall for offering some of the best economic indicators this quarter. Perhaps most importantly, for homeowners, ACT won the gold …
The Northern Territory (NT) continued its streak as one of Australia’s most affordable markets, taking out the silver award nationally for the highest home loan affordability index reading (as of Jun…
South Australia (SA) recorded 37.0 points in the home loan affordability index in the June quarter of 2018, signifying a decline of -0.8% over the past 12 months. That said, this is the second least …
Tasmania (TAS) closes 2018 with celebratory news for first home buyers, amidst fears that they had been priced out of the market. The number of first home buyer loans approved in the June quarter of …
As of June 2018, WA’s home loan affordability index reading was 41.8 index points, well above the Australian average of 31.1 index points. That said, this is a slight decline when compared to the Mar…
Victoria (VIC) has proven itself to be a top performer in 2018, earning the most medals in the PRD Key Market Indicators Q4 2018 Awards, and positioning itself as a market leader in many areas. It’s …
Queensland’s (QLD) top achievement this quarter was winning the silver award nationally for highest median weekly family income growth at 2.5% in the 12 months to June quarter 2018. QLD can boast a s…
As 2018 closes, it is time to celebrate some wins, the most notable of all being positive consumer sentiment and growth in the number of first home buyer loans. The Australian consumer sentiment inde…