Easing inflation welcomed but no respite on housing - REIA
Real Estate Institute of Australia (REIA) President, Mr Hayden Groves said the latest ABS figures indicate inflation is continuing to moderate eliminating the need for further interest rate rises, however the housing crisis remains a top priority for governments to address.
Sydney luxury residential rents rise by 13.1% over 12 months, the third highest growth of 10 global cities measured by Knight Frank
Sydney's annual luxury rental growth in the 12 months to the end of June 2023 surged from 11.7% to 13.1% compared to the previous quarter, bucking the global trend of slowing growth in rental rates, according to the latest research from Knight Frank.
“Residential building approvals in July 2023 continue to tread at very low levels, with this month’s decline led by a relatively sharper fall in multi-units,” stated Tom Devitt, HIA Senior Economist.
Time to move forward together to help renters - REIA
The Real Estate Institute of Australia (REIA) has provided a ten-point plan aimed at assisting Australian renters to the Federal Senate Inquiry (the Inquiry) into the worsening rental crisis.
According to John McGrath, Chief Executive Officer of McGrath Estate Agents, a seasonal boost to listing numbers will provide welcome relief for buyers in today’s competitive market.
Combined capitals set for busiest auction week since early April
With 2,377 homes currently scheduled to go under the hammer, this week is set to overtake last week (2,037) as the combined capital's busiest since early April (2,687).
The NSW Government’s 10-point plan to increase rental supply
REINSW believes there is an urgent need to challenge the Minister for Better Regulation and Fair Trading on this approach and CEO Tim McKibbin welcomes the opportunity to issue this challenge.
According to Nerida Conisbee of Ray White Group Chief Economist, with more property coming on to the market, this greater certainty about the outlook is likely to make this a much better spring selling season than last year.