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INSANE: 18 | Vintage Vibes

Rising rates, higher inflation and declining house prices mean Australian households are being whacked from all directions.

AAP

Perth rental vacancy rate drops as rising costs push vulnerable West Australians to the brink

Perth's rental market becomes even tighter with a vacancy rate of less than one per cent, the latest property data shows. Meanwhile, median rents are continuing to rise as more West Australians struggle to make ends meet.

ABC News

CoreLogic data shows Melbourne is Australia's most affordable capital city for home rentals, followed by Adelaide

Melbourne replaces Adelaide as Australia's most affordable city for renting a typical home, but rates are rising everywhere and vacancies are tightening, latest figures show.

ABC News

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Shrinking households help drive up national rents at record pace

Shrinking households and a limited supply of rental properties have combined to push up rents at the fastest annual pace since 2008.

The New Daily

ACT house prices are 'flattening out' as auction clearance rates hit lowest level since 2020

Auction clearance rates in Canberra drop to the lowest levels since 2020, amid predictions the ACT is reverting to a buyers' market.

ABC News

The Loop: The PM arrives in Paris, house prices fall nationally, and the new financial year brings new policies

Here's your TL;DR for this morning's news.

ABC News

Home prices drop for the second month in a row as Reserve Bank's aggressive interest rate rises hit hard

Aggressive interest rate increases have caused the second monthly fall in home prices across Australia's capital cities. It is the sharpest slowdown in the property market in 30 years.

ABC News

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Sydney and Melbourne lead accelerating housing downturn

Sydney and Melbourne are leading Australia's falling house prices, which are gathering momentum as interest rates rise and consumer confidence takes a hit.

The New Daily

Regional towns set for ‘growing pains’ as young people abandon cities

Young people are trading in cities for regional towns as high property prices and more working from home encourage a move to the country.

The New Daily

Sydney and Melbourne set to lead property price tumble, with other cities to follow

As interest rates rise, prices are already down 3% in Sydney and 1.8% in Melbourne, with other capitals tipped to follow suit

The Guardian - AU

Buyers 'get a look in' as Canberra's auction market cools

One property expert said Canberra buyers had "more stock to choose from, less urgency and some leverage at the negotiation table".

The Canberra Times

Australia’s borders were closed and population growth stalled – so why are houses so expensive?

Experts say last two years has amplified issues such as a lack of social and affordable housing, a lack of supply and an increase in shorter-term leases

The Guardian - AU

Home prices keep rising, even as the market cools

"The affordable housing problem is going to stick around no matter what."

Axios

Sydney house prices still 20% above pre-pandemic levels despite rising interest rates

Economists say while property prices could come down by up to 20%, affordability has ‘never been worse’

The Guardian - AU

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The Canberra Times

First home buyers secure home for less than $680,000

A young family beat out an investor to secure their first home at auction during the week.

ABC News

Gold Coast property market cools as auctions slow down, houses spend more time on market

Real estate agents on the Gold Coast notice a cooling of the market, compared to how it was during the pandemic.

ABC News

Former PM Joseph Lyons's old school house goes up for sale as regional Tasmania bucks housing trend

Fancy living where a former prime minister used to dispense wisdom? This 1860's school house might be just what you are looking for — if you don't mind a shift from the mainland.

ABC News

The suburbs bucking the trend of falling house prices

While Australian home owners may be feeling a tad nervous after hearing house prices have fallen for the first time in 20 months, buyers will be sitting up and taking notes.

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ABC News

House prices fall for the first time in nearly two years as rising interest rates bite

Australian home prices have fallen nationally for the first time in at least 20 months, according to two leading monthly indices, although many parts of the country are still in a property boom.

ABC News

HomeBuilder and first home buyer grants made housing less affordable says Reserve Bank

Government subsidies such as first home buyer grants and HomeBuilder have boosted demand for homes and helped push up house prices, with "pervasive" impacts on housing outcomes for some Australians, according to the Reserve Bank.

ABC News

Property ownership is not the Australian dream for many lifelong renters

Some young Australians say they are choosing not to buy as property and housing prices climb to unreachable heights. Although there are signs the market is cooling in regional areas.

ABC News

Should you leave your money in superannuation or put it towards a deposit for a first home?

Allowing first home buyers to draw their superannuation will likely, over time, push up house prices, according to many leading economists, but are you better off leaving your money in your super fund or pulling it out for a home deposit?

The Guardian - AU

Coalition super housing policy likely to inflate prices by increasing demand, analysts say

Saul Eslake points to ‘unambiguous and unequivocal evidence’ showing such policies lift prices rather than home ownership

ABC News

Waterfront house in Howrah sells for $8.533 million, breaking Tasmanian real estate records

A waterfront estate on Hobart's eastern shore sells for $8.533 million, breaking the real estate record for a suburban house in Tasmania.

ABC News

A decade of savings isn’t enough for most first home buyers, as deposits soar out of reach

While house prices are expected to fall nationally as interest rates continue to rise, that won't necessarily improve the plight of first home buyers, according to CoreLogic's latest housing affordability report.

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