Invest
More expensive homes take brunt of housing slide
The slowdown in property price-growth is impacting houses on the higher end of the spectrum, as those worth $400,000 or less remain untouched, new numbers reveal.
More expensive homes take brunt of housing slide
The slowdown in property price-growth is impacting houses on the higher end of the spectrum, as those worth $400,000 or less remain untouched, new numbers reveal.
According to the latest numbers from property research group CoreLogic, national dwelling values continue to fall but cheaper homes are, so far, untouched.
“With values now falling in Sydney and Melbourne, it is unlikely to initially result in an increase in sales under $400,000. However, should it continue for a number of years we may finally see a reversal of the declining trend in sales under $400,000,” CoreLogic research analyst Cameron Kusher said.
Dwelling value growth slowed over the 2017-18 financial year to -0.8 per cent, following an increase of 10.2 per cent over the previous year.
However, the number of properties sold for less than $400,000 continues to fall as value growth on the lower end of the spectrum continues, falling from 30.7 per cent of all houses to 29.2 per cent, and from 35.4 per cent of unist to 34.6 per cent.
At the same time, the number of million-dollar sales is beginning to slide.
“As housing market conditions continue to weaken, it is anticipated that there will continue to be fewer sales above the $1 million threshold,” Mr Kusher said.
“This will largely be driven by weakening in Sydney and Melbourne. Smaller capital cities are also likely to continue to see the share of $1 million sales climb further too.”
The 12 months to June 2018 saw 16.0 per cent of all houses and 8.8 per cent of units sell for at least $1 million, down from 16.1 per cent of houses in the previous year and 9.1 per cent of units.
Property
Millennials believe first home buyers need more support
Australia’s up-and-comers in the housing market say more needs to be done to slow rising house prices. ...Read more
Property
3 in 4 borrowers in trouble are in lockdown: ANZ
Despite offering support, ANZ said freezing home loan repayments will be the last resort, as three in four requests for support stem from NSW. ...Read more
Property
RBA gives APRA’s use of macro tools a tick of approval
Ahead of an expected move to impose tougher lending rules on the banks, the Reserve Bank has looked into previous attempts by APRA to cool the housing market. ...Read more
Property
Federal incentives are driving more first home buyers into the market
While property prices continue to grow, new research suggests that the government’s current crop of first home buyer incentives is having an impact on this segment of the market. ...Read more
Property
Why it now costs 130% more to service a mortgage than 3 decades ago
The lifetime cost of owning a home has increased by over 130 per cent in just three decades, new research has revealed. ...Read more
Property
Using the 30/30/3 rule for home buying during uncertain times
Thinking of buying a home? Uncertain economic times may have you double guessing your purchase, but the 30/30/3 rule can help you make this a reality. ...Read more
Property
Rental yields reach decade high, but not all markets move at the same pace
Changing consumer preferences towards lifestyle destinations and a lack of supply have led to record national price growth, albeit price fluctuations vary region-to-region, fresh figures show. ...Read more
Property
What younger Australians are getting wrong about home loans
As young Australians look to fight the odds and take their first step onto the property ladder, more and more are making easy mistakes. ...Read more
The Olympic effect on property and equity investors; COVID-19 Disaster Payments and super
Listen now
Do lockdowns boost property prices? Are short-sellers levelling the playing field? Did you lodge your tax returns early?
Listen now
Will lockdowns halt the housing boom? Is the metaverse taking over? And the cons of lodging your tax returns early
Listen now
Are you being priced out of the market? Have you got the Tuesday blues? And are you ready for the upcoming super changes?
Listen now
Property
Millennials believe first home buyers need more support
Australia’s up-and-comers in the housing market say more needs to be done to slow rising house prices. ...Read more
Property
3 in 4 borrowers in trouble are in lockdown: ANZ
Despite offering support, ANZ said freezing home loan repayments will be the last resort, as three in four requests for support stem from NSW. ...Read more
Property
RBA gives APRA’s use of macro tools a tick of approval
Ahead of an expected move to impose tougher lending rules on the banks, the Reserve Bank has looked into previous attempts by APRA to cool the housing market. ...Read more
Property
Federal incentives are driving more first home buyers into the market
While property prices continue to grow, new research suggests that the government’s current crop of first home buyer incentives is having an impact on this segment of the market. ...Read more
Property
Why it now costs 130% more to service a mortgage than 3 decades ago
The lifetime cost of owning a home has increased by over 130 per cent in just three decades, new research has revealed. ...Read more
Property
Using the 30/30/3 rule for home buying during uncertain times
Thinking of buying a home? Uncertain economic times may have you double guessing your purchase, but the 30/30/3 rule can help you make this a reality. ...Read more
Property
Rental yields reach decade high, but not all markets move at the same pace
Changing consumer preferences towards lifestyle destinations and a lack of supply have led to record national price growth, albeit price fluctuations vary region-to-region, fresh figures show. ...Read more
Property
What younger Australians are getting wrong about home loans
As young Australians look to fight the odds and take their first step onto the property ladder, more and more are making easy mistakes. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
