Construction costs rise at the fastest annual pace since 2005
CoreLogic’s Cordell Construction Cost Index (CCCI) for Q4 2021: • Construction costs rose 5.6 percent in the year to September, the fastest annual pace since 2005. • National construction costs increased 7.3% over the 2021 calendar year • A 3.8% surge in national residential construction costs over the three months to September 2021 • Victoria’s […]
Land prices soar to record highs
The median lot price increased 8.5 percent to $256,683 in the 12 months to June, according to the latest Housing Industry Association-CoreLogic Residential Land Report. Residential land prices rose the most in Melbourne, up 19.6 percent over the year. Check out the full details here: https://bit.ly/3tzvRN9
Wage Growth was Left Behind the Living Cost Rise
Wages growth varies wildly by industry and occupation and average pay increases are still trailing the rising cost of living. Check out the full details here: https://ab.co/3IxUfmn
Property owners are bulling in price growth for 2022 – survey
More than eight out of 10 Australians believe housing values will continue to rise this year, with nearly six out of 10 believing residential values will rise by 10% or more, a new survey has found. Check out the full details here: https://bit.ly/3D0lAMR
Annual CPI inflation increased to 3.5 percent in the December quarter
◘ Annual CPI inflation increased to 3.5 percent in the December quarter, due to higher dwelling construction costs and automotive fuel prices.◘ Trimmed mean annual inflation, which excludes large price rises and falls, increased to 2.6 percent, the highest since June 2014.◘ Rising construction costs drive higher prices for new dwellings◘ High levels of building […]
The mean price of the residential dwelling in Australia is now valued at $920,100
The national average price for residential real estate has beat the one million dollar mark for the first time. The mean value of real estate in Australia is now $920,100 according to Domain’s latest House Price Report. Domain chief economist Andrew Wilson said the $20,000 jump was driven by strong growth in capital city markets […]
Australia’s eight capital cities grew 23.7 per cent over the last 12 months
New data released by the Australian Bureau of Statistics (ABS) has suggested that the last 12 months have seen capital city property values soar to new heights, with the statutory agency reporting its largest-ever recorded annual growth. Check out the full details here.: https://bit.ly/3JjhXUR
House prices to peak in mid-2022
Regional markets have continued to climb. The combined region’s home price index rose by 1.6 percent in February. The CBA reported said, “Stock remains low in regional Australia and many retirees are moving out of the major capital cities to regional Australia, particularly the coastal fringes,” and this has supported strong price gains. Check out […]
More Australians now considering Property Investment
More Australians are considering property investment, according to new research from the Commonwealth Bank. The number of people who aspire to purchase a property has jumped four percentage points. This rise is likely due to more manageable property prices in combination with low-interest rates and favorable lending standards. Check out the full details here: https://bit.ly/3pPwYWt
Australia makes top 5 for Global House price growth
Australia has returned to a top-five position in a quarterly global house price index, having achieved 18.9 percent annual price growth. Globally, prices rose 9.4 percent on average across the 56 countries and territories covered by the index, with 96 percent of nations showing positive year-on-year increases, Knight Frank revealed. Check out the full details […]
