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Australia’s home ownership dream is dying, inflation is rising, and is renting worse for your health than smoking?
Welcome to Hot Property, REB’s weekly round-up of headline stories that are important not only for the real estate sector, but also for the state of the Australian property market as a whole.
To compile this list, we consider the week’s most-read stories and the news that matters to you, collating your need-to-know property report from across our site and sister brands. Here are the biggest stories of the week:
For the second consecutive month Australian inflation is on the rise, according to new data from the Australian Bureau of Statistics (ABS). With less than a fortnight to go before the Reserve Bank of Australia’s (RBA) November meeting, could we be set for the first cash rate rise since June?
For tenants in Australia, this news may come as no surprise especially considering the high rent, low vacancy conditions categorising the nation’s rental market in recent months. This new report conducted by two universities found private renting is worse for participants’ health than smoking. Who would have thought?
Is the great Australian dream dead for young Aussies? With house prices soaring in recent years, the answer to that question is maybe.
In line with the potential death of the great Australian dream, new figures from one of Australia’s big four banks indicate FHB participation in the market is at near-decade long lows.
With the nation nervously waiting for the central bank’s decision at 2:30pm AEDT on Melbourne Cup Day, one economist at Westpac revealed the trio of factors which will dictate the board’s next actions.
New data from PropTrack revealed the Australian regions tenants are hunting the most this year, with one city leading the charge, claiming nine of the top 10 spots.
Following a lengthy downswing throughout much of last year, leading brand Domain has given a timeline of when last year’s property value losses will be recouped for home owners.
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