By clicking send message I agree to the terms and conditions, privacy policy and to receive correspondence from The Realestate Conversation and Williams Media.
ABS lending finance data shows loans for home renovations dropped 10.7 per cent in February, the largest decline in seven years.
Read More
“Investors have been the target of a number of regulatory interventions and we are now seeing this impact on residential building activity,” says HIA Senior Economist, Geordan Murray.
The Reserve Bank of Australia has held the cash rate steady at 1.50 per cent for the twentieth consecutive month.
New house sales rose in three states, but large falls in Queensland and Western Australia dragged the overall result into negative territory.
Hobart now has the fastest growing property prices in Australia, while long-time leader Sydney has slipped to fourth place.
"The confidence is really good, it's back," Chris Wilkins of Ray White Drummoyne told SCHWARTZWILLIAMS.
First-home buyers made up 18 per cent of total owner-occupier housing finance commitments in November, the highest percentage in over five years.
Stronger building approvals in Victoria and Queensland offset declines for all other states during October, according to new data from the ABS.
Overall, Australian homes are their smallest in 20 years, but Australian houses remain the second-largest in the world.
The latest data from the ABS shows that 64,470 apartments are being built in New South Wales, a record for the state.
Keep the conversation going with Recon Daily
Keep the conversation going with LUXURY LIST WEEKEND our free newsletter covering Australian luxury real estate.
Join the Australian Commercial real estate conversation with COMMO our free newsletter