Property

Wealth levels have changed the property buyer profile, CoreLogic’s head of residential research Australia has revealed.

The quarterly rise in the pace of growth for construction costs is not a new surge, rather a return to trend, CoreLogic has revealed.

The number of new homes being built has fallen by 10 per cent to reach a new decade low, according to new data.

Home sales dropped over the 2023 calendar year, however, remain higher than historical averages, CoreLogic has found.

Loan commitments for owner-occupiers have risen once again, the latest ABS data has revealed.

A slight easing of vacancy rates in December did little to disguise the abysmal figures of 2023.

Brisbane is now the third-most expensive city in Australia for median home values, after Sydney and Canberra.

Despite a microscopic rise in building activity in November, an economist has warned it could take “until the back half of the decade” to see a meaningful improvement.

Australians know that home building must ramp up over the next 12 months. For that to happen, the participation of developers is key.

Rents are up by $60 per week when compared to the average advertised prices in December 2022.