INDUSTRY NEWS
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Five years on: COVID-19’s lasting impact on Australia’s housing market
Five years after COVID-19 was declared a global pandemic, its influence on Australia’s housing market remains strong, with national home values rising 38.4% since March 2020.
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Rental prices drop in Auckland and Wellington, offering relief for renters
New data from realestate.co.nz shows that rental prices have dropped in two of New Zealand’s largest cities, with Wellington seeing the biggest decline.
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Housing taxes now account for half the cost of a new home
Government taxes and charges on new housing have doubled in some Australian cities over the past five years, with new homebuyers now spending up to 15 years of their mortgage just paying off these costs.
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New homes require smaller mortgages in five states
Homebuyers in five Australian states are taking out smaller mortgages for new homes than for established properties, challenging the notion that new builds always come with premium price tags.
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Renovations add value, but not as much as you think
Homeowners considering renovations can expect to make back at least their costs, but several other factors impact the actual value added to properties.
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Property market gains momentum as new listings spike in February
Australia’s property market showed renewed momentum in February, with new listings rising across major capital cities and auction clearance rates improving, according to the latest data from Domain. New supply reached a four-month high, marking the second-highest February level on record.
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High-end property markets signal broader recovery ahead
Australia's premium property markets are showing strong signs of recovery, potentially signaling a broader market turnaround according to recent data.
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Rental affordability hits record low across Australia
Rental affordability in Australia has deteriorated to its worst level since records began in 2008, with median-income households able to afford just over a third of available rentals.
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Sydney among world’s most expensive luxury property markets
Sydney has secured its position as one of the world's most expensive luxury property markets, ranking 11th globally according to a new report.
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Victoria strengthens renter rights with new laws
Victoria has passed new laws strengthening renter protections, including a complete ban on ‘no reason’ evictions.
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New home approvals rise, signalling progress for housing supply
New home building approvals in Australia have reached their highest level since December 2022, offering some positive news for the construction industry.
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Hope for housing affordability after RBA rate cut
Housing affordability in Australia might be at a record low, but the RBA rate cut suggests 2025 may bring welcome relief for both buyers and renters.
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Regional migration trend started well before COVID
More Australians are moving from capital cities to regional areas in a long-term trend that began well before the COVID-19 pandemic, according to new research.
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New Zealand property values show signs of recovery
Property values in New Zealand have returned to growth, signaling the end of 2024's mini downturn and suggesting modest growth ahead for 2025.
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Coalition announces FIRB overhaul
A Dutton Government has pledged to establish a taskforce to reform the Foreign Investment Review Board (FIRB), Shadow Treasurer Angus Taylor has announced.
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Queensland set to usher in the next wave of million-dollar suburbs
Queensland has emerged as the leading state in Australia's next wave of million-dollar suburbs, claiming four of the top 10 spots according to new research.
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REA Group invests in rural property data platform Agtuary
REA Group has announced it will acquire a minority stake in Agtuary, a platform specialising in rural property and environmental data insights.
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Housing market rebounds as prices rise
After three months of decline, Australian home values increased by 0.3% in February, marking a reversal in the short-lived downturn, according to CoreLogic’s Home Value Index.
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Five years on: how the pandemic transformed home buying in the US
Five years after the onset of the COVID pandemic, the US housing market looks significantly different. Home values have soared, virtual home touring has become mainstream, and buyer preferences have shifted, according to new data from Zillow.
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Townsville leads regional Queensland in house price growth
Townsville is experiencing the fastest-growing house prices of any regional city in Queensland, following years of subdued market conditions.
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Home prices rebound in February amid interest rate cut
National home prices rose by 0.40% in February, reaching a new record and reversing recent minor declines.
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Builders launch federal election campaign to address housing crisis
Master Builders Australia has launched its federal election campaign, demanding concrete action from all political parties to address Australia's housing crisis.
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Apartment rents cool in the US, but family homes stay pricey
Renters in the United States may find better deals on apartments this year, but those looking for single-family homes will likely continue to face high costs, experts say.
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Aussie homeownership dreams remain strong despite market pressures
A new LJ Hooker survey has revealed that despite soaring property prices and mortgage pressures, Australians remain committed to the dream of owning their own home. The findings highlight a continued belief in real estate as a solid investment, as well as the key home features buyers refuse to compromise on.
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China leads foreign investment in Australian real estate
Foreign investment in Australian residential real estate continues to show strength with China leading the way in approved residential property purchases.
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Buying a unit can shave nearly two years off first-home buyer savings time
First-home buyers in Australia can enter the property market nearly two years sooner by purchasing a unit instead of a house, according to Domain’s latest First Home Buyer Report.
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Victoria aims to become “townhouse capital” with planning reforms
Victoria is set to streamline the approval process for medium-density housing with Premier Jacinta Allan introducing a new "townhouse code" aimed at making the state Australia's townhouse capital.
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Stars gather in a stellar venue
In a star-studded evening of timeless elegance, the RE/MAX Australia annual awards gala was a spectacular event in the ballroom of The Star Brisbane.
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NSW Government’s Low and Mid-Rise policy to unlock 112,000 homes over five years
The Minns Labor Government’s Low and Mid-Rise housing policy is set to deliver 112,000 new homes across New South Wales over the next five years, as the second stage of the reforms comes into effect on 28 February.
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Productivity failures are holding Australia back, says report
Australia’s housing affordability crisis is being worsened by three decades of declining productivity in home construction, with new research revealing that the sector is building homes at half the rate it did in 1995.
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US real estate giant makes $2.7b bid for Domain
A major shake-up is underway in Australia's property portal landscape as US-based CoStar Group has launched a $2.7 billion takeover bid for Domain, Australia's second-largest real estate platform.
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Agents warned about social media rental scams
A wave of rental scams are targeting renters through social networking sites, with prospective tenants being urged to work with registered property managers.
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Rate cut provides modest relief as mortgage stress continues
The Reserve Bank of Australia's decision to cut the cash rate to 4.10 per cent offers some reprieve to struggling homeowners, but research suggests the reduction may not be enough to ease widespread financial pressure.
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Investor boom drives spike in home loans
Australia's home loan market has experienced significant growth in 2024, with investor lending leading the way and showing remarkable resilience amid changing market conditions.
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Regional markets show strength as capital cities slow
Regional property markets are showing remarkable resilience while capital cities face declining prices.
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