Australian median house prices have declined over the past year and are expected to only drop further, but with capital gain and equity in houses declining, it’s renters who are left to make up the difference.
“The data for the June quarter 2017 clearly shows an uptick in activity on an annual basis across the board, which is pleasing," said REIWA president, Hayden Groves.
Recent changes to stamp duty in NSW mean that foreign investors now pay almost $100,000 in transaction taxes to acquire a standard apartment in Sydney.
In the first three months of 2017, the Tasmanian real estate market recorded its highest number of sales since 2004, according to new data from the REIT.
Sales volumes rose 8 per cent in the month of February, but the median house prices was down 1.3 per cent, according to the latest data from the REIWA.
Victorian rental reforms will hit our most vulnerable: REIV
Gil King, chief executive officer of the Real Estate Institute of Victoria, writes that higher costs for landlords could translate into higher rents and lower supply of rental property.