The first six months of 2019 has seen overall transactions for this year down 1.9% on 2018, and down 0.5% in cumulative value. Across the state, house prices increased 4.2% over the six months whilst units were up 6.6% and land rose 7.5%.
With the recent news about building defects in the Mascot and Opal Towers, there’s some nervousness amongst buyers who are looking to buy into apartment buildings.
JLL data showed the number of apartments under construction in the inner-city regions of Australia’s six major capital cities fell a further 12% in 2Q19 to 39,660 apartments and was down 21% over the past year.
Infrastructure Australia CEO gears up to improve collaboration and coordination
"Our population is growing and changing, the structure of the economy is shifting, and rapid technological change is fundamentally reshaping our day-to-day lives," Infrastructure Australia Chief Executive Romilly Madew told WILLIAMS MEDIA.
Residential construction costs outpace inflation - CoreLogic
New South Wales continues to record the highest residential costs increase, up 4.5% on an annual basis, while Western Australia has the lowest rate at 2.9%, according to the latest CoreLogic CHIP Report.
