Asking prices rise and property listings increased significantly in October

Capital City Average asking prices increased 1.8% for houses and 0.1% units over the month to 3rd November. Average unit asking prices are now $563,900 and houses $989,100. Compared to a year ago, the capital city asking prices posted an increase of 5.2% for houses but declined by 1.0% for units. Over the month, most […]

Read More >>

Living locally and the rise of the 20-minute neighbourhood

The ability to work, live and play all within 20 minutes’ reach is the new gold standard for urban planning. Imagine being able to carry out your daily activities within a 20-minute walk from home. All the things you need in a day would be just a short walk away. In planning circles, it’s a […]

Read More >>

Vacancy Rates continue to Rise in Melbourne and Sydney

The national residential rental vacancy rate has recorded a minor decrease over the month from 2.6% in April to 2.5% in May 2020, with the total number of vacancies Australia-wide now at 86,398 vacant residential properties. However, the largest rental markets of Sydney and Melbourne recorded rises in rental vacancies. Sydney rose to 4.0%, making […]

Read More >>

Buyers are surprisingly responsive to a rise in listings over May

COVID-19 has brought about downside risks for the economy and housing market. A 0.3% decline in March GDP confirmed a technical recession is underway in Australia, total wages paid fell 5.4%between mid-March and early May, and Australian dwelling market values saw the first month-on-month decline since June 2019. But one surprising sign of stabilising emerged […]

Read More >>