Economic Updates

Last year we looked at how often listings advertised that pets were welcome to all tenants.

The theme of 2023 has been of slower listing activity and June was no different.

Australian house and unit prices have again jumped up in June, according to the latest house price data report from Neoval.

Australian capital city house prices fell by 6.4 per cent last year, dramatically different from the 20 to 30 per cent that many forecast. In fact, in many places around the world, we are seeing prices moving up again.

If you could live anywhere, where would it be? For the world’s wealthy, Australia is a top pick.

Early on in the upturn there was a lot of talk about the return of price growth being a “dead cat bounce”.

Like most people in the property industry, I was dismayed that a key revenue item in the recent Victorian budget was to increase land tax payments for investment properties.

Regional Australia was the standout during the pandemic with the virus sparking the greatest movement of people to these parts of Australia ever recorded.

It isn’t a bad time to be a first home buyer at the moment.

In April, new listings were down 17.1 per cent with Sydney and Melbourne seeing the biggest falls.

As interest rates have risen, the popularity of fixing interest rates has not surprisingly waned.

In February, over 140,000 foreign students returned to Australia and the number of students arriving on temporary student visas is slowly returning to pre-pandemic levels.