What is build-to-rent and why is government backing it?
Rents and property prices are rising strongly in much of Australia due to an undersupply of properties, leading some commentators to call for reforms that would stimulate the construction of a significant amount of new build-to-rent (BTR) housing. Generally, developers sell all the new housing they build, often during the construction period. But with BTR, […]
- Author: admin
- Date: 6 May 2024
Here’s how much income you need to buy your dream home
If you’re wondering how much money you need to earn to purchase property, new modelling has found the answer. The following calculations are based on the median house price and assuming the buyer has a 20% deposit. Buyers in Sydney would need a gross annual income of $192,400 per year to purchase a two-bedroom house, based on […]
- Author: admin
- Date: 6 May 2024
New report identifies Australia’s most affordable property locations
The Northern Territory leads the way for housing affordability, with 100% of locations deemed affordable, according to the PropTrack Housing Affordability Index. Next come Western Australia on 41%, Queensland on 23%, South Australia on 14% and the ACT on 10%. They’re followed by New South Wales on 10%, Victoria on 8% and Tasmania on 7%. […]
- Author: admin
- Date: 6 May 2024
ANZ takeover of Suncorp: what happens if your bank merges?
Australia’s fourth-largest mortgage lender, ANZ, is one step closer to acquiring the country’s ninth-largest, Suncorp Bank, after winning an appeal against an earlier rejection of the deal. ANZ and Suncorp agreed the deal in July 2022, but the Australian Competition & Consumer Commission (ACCC) decided, in August 2023, not to authorise the takeover because it […]
- Author: admin
- Date: 19 March 2024
EV battle heats up as govt moves forward on fuel-efficiency rules
For the past few years, Tesla has been synonymous with electric vehicles (EV) in both Australia and other markets outside China. But that may be changing. In the December 2023 quarter, Chinese manufacturer BYD sold more EVs throughout the world than Tesla, while in January BYD outsold Tesla in Australia, according to the Australian Financial Review. […]
- Author: admin
- Date: 19 March 2024
New research takes aim at stamp duty
Stamp duty is both an increasingly expensive tax and a highly inefficient one, according to joint research by the e61 Institute and PropTrack. Four decades ago, the average buyer in Sydney, Melbourne, Brisbane and Adelaide needed to work for about one month to afford to pay stamp duty, based on comparing the average post-tax income […]
- Author: admin
- Date: 19 March 2024
What to expect from property in 2024
One of Australia’s leading property economists, Ray White Group Chief Economist Nerida Conisbee, has given 10 insights about what to expect from the property market this year. Price growth will continue. Market forces will lead to further price growth in 2024, according to Ms Conisbee. “At this point, housing supply remains extremely low and many […]
- Author: admin
- Date: 2 February 2024
Rents grow 11.5% over year, 1.8% over quarter
There’s been a noticeable slowdown in rental growth, although it’s not yet clear whether this is an out-of-the-ordinary result or sign of a trend. Across Australia, the median rent in the December 2023 quarter experienced 11.5% year-on-year growth but only 1.8% quarter-on-quarter growth, according to PropTrack. PropTrack Senior Economist Angus Moore said the rental market […]
- Author: admin
- Date: 2 February 2024
Top 10 car brands revealed
Toyota was the clear market leader in 2023, in what was a record-breaking year for new vehicle purchases. Motorists bought 1,216,780 new vehicles last year, which was a 2.3% increase on the previous record, set in 2017, according to the Federal Chamber of Automotive Industries. More than one in six of those buyers, or 17.7%, […]
- Author: admin
- Date: 2 February 2024
Is 2024 the year to buy property?
The Reserve Bank of Australia has rounded out 2023 with the decision to hold the nation’s cash rate at 4.35%. 2023 hasn’t been an easy year for homeowners or ambitious first-home buyers. The cash rate increased from 3.10% to 4.35% over the course of eleven months in the RBA’s bid to bring inflation back within […]
- Author: admin
- Date: 5 December 2023
