Property

The property market has continued to swell as more cashed-up expats return to Australia, the Property Investment Professionals of Australia has revealed.

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Approvals for private sector houses reached a new record high in February, and has risen by almost 70 per cent since the introduction of the HomeBuilder grant, new data has shown.

Weekend auction markets are set for a well-earned break for the Easter holidays, with the next phase of autumn selling set to generate more record-breaking results.

The lender has forecast a sharp rise in house prices in 2021, but warned of looming lending restrictions, which could dampen growth in 2022.

Profitability in dwelling sales reached above pre-COVID-19 levels in the December quarter, coinciding with a rise in national dwelling values, new research showed.

Last week marked the busiest auction week since the first week of April 2020, while the preliminary clearance rate held at above 80 per cent, according to statistics.

Non-profit organisation Homes for Homes has announced that it will provide $200,000 to social housing projects in ACT after receiving new funding.

Home buying spending intentions rose further in February, with the home buying market expected to play a key role in supporting the economy in 2021, according to CBA research.

Auction volumes spiked across the combined capital cities last week to the second highest number of weekly auctions over the year-to-date, according to figures.