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Property market

Yesterday

Housing news from Victoria budget 2024.

Australia to fall 300,000 homes short of Albanese’s target

The housing industry welcomes official recognition that the country will fall short of its goals, but warns demand for new homes is still underestimated.

  • Michael Bleby

Why city boltholes are the next must-have for Baby Boomers

A new wave of apartment buyers could fuel stiffer competition, experts say.

  • Nila Sweeney

This Month

The 37 largest community housing providers bid for funding to develop more than 26,000 social and housing units in developments such as this one in western Sydney’s Penrith.

$10b housing fund should be doubled, community providers say

The massive response to the federal government’s first tender to develop affordable and social rental housing shows more funding is needed, developers say.

  • Michael Bleby

Ransomware group claims attack on valuer HTW

In a post on the dark web, Black Suit says it has obtained 20 gigabytes of the valuation firm’s customer and transaction data.

  • Michael Bleby
Undersupply and cashed-up buyers are driving house prices higher. But affordability may limit that growth.

What every buyer needs to know about auction clearance rates

Auction clearance rates give some clues about when to buy or sell.

  • Tom Richardson
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Kristen Kubank with one of her sons Angus, in front of her new investment property that she bought for her kids to rent

How this CFO landed on the perfect property to help her adult children

Kristen Kubank bought a townhouse to help her adult-aged children who have struggled to enter the property market despite having stable jobs.

  • Campbell Kwan
House prices would continue to rise despite the prospect of further rate rises or delayed rate cuts according to experts.

‘Bullet-proof’ house prices to keep rising despite higher rates

Chronic housing supply shortage would shield prices from sharp downturn if interest rates increase further, or stay higher for longer, experts say.

  • Nila Sweeney

April

Property investors spooked by renewed talk of rates rise

Having recently returned to the housing market in droves – outpacing owner-occupiers – investors could face a potential slowdown in capital gains.

  • Nila Sweeney
Vendor David Milton more than doubled his money on this Neutral Bay apartment in Sydney’s lower north shore.

Real estate agent doubles his money by selling own apartment for $6.5m

There’s a national shortage of suitable units for downsizers, so a man who sells them for a living has just sold his own home – at quite a profit.

  • Michael Bleby
Among the sales over the week was in Elwood, Victoria, where Ray White auctioneer Greg Brydon donned VR goggles to conduct the country’s first virtual live auction.

Sticky inflation not deterring home buyers at auction

Auction markets didn’t react to renewed interest rate rise fears as the pool of home buyers remains big enough relative to the number of homes up for sale.

  • Campbell Kwan
morgyn bostock

Why this apartment owner ditched real estate agents

Morgyn Bostock chose not to use an agent when she sold her home - and would happily do so again.

  • Updated
  • Gus McCubbing

What the new land value boss thinks will happen to property prices

Sally Dale’s appointment comes at a critical juncture for both the residential and commercial markets in Australia’s most populous state. 

  • Nick Lenaghan

Median house prices in Brisbane and Adelaide to hit $1m by December

House price growth momentum has slowed across the capital cities, but is still expected to hit new records this year according to Domain.

  • Nila Sweeney
Two sources say the data breach at valuation firm HTW was a hack and that information about former employees has been compromised.

HTW employee details may have been compromised in valuer data breach

Banks are still waiting for an independent evaluation of the data breach and some are increasing their restrictions on the valuation firm.

  • Michael Bleby
This multi-level carpark near Queen Vic Market is expected to sell for around $120m.

Melbourne car park near Queen Vic Market tipped to sell for $120m

The large car park site at 380 Queen Street, which could support a multi-tower project overlooking Queen Victoria Market, is owned by Singaporean investors.

  • Larry Schlesinger
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Buying a unit cheaper than renting in only 11pc of suburbs nationwide

The number of suburbs where buying was cheaper than renting plummeted to just 2.5 per cent across Australia, and 10.8 per cent for unit buyers.

  • Nila Sweeney

Cautious buyers drag down Sydney auction clearance rate

Strong auction results are becoming rare in Sydney as more buyers are reluctant to stretch their limits, agents say.

  • Nila Sweeney
Joe and Gianna Ciardi are using their super to borrow  more money after hitting their borrowing capacity.

‘Tapped out’ property investors use super when banks say no

A growing number of property investors who have “tapped out” their personal borrowing capacity are using their self-managed super funds to borrow more, advisers say.

  • Updated
  • Nila Sweeney
Sketch of the new home planned for David and Marisa Droga’s home on their Gaerloch Avenue, clifftop site in eastern Sydney’s Tamarama. 

David Droga plans new home for Tamarama headland site

The owners and designer Luigi Rosselli aim to create a house on the landmark Sydney site that better reflects its location and the environment.

  • Michael Bleby
Young home buyer, Edward Jiang, standing in front of his new home in Guildford.

He bought his first home at 19 – now he’s up to a $1m Guildford house

Edward, a 27-year-old bank analyst is passionate about property investment. He has just bought a home in Guilford for $1 million.

  • Campbell Kwan