Hello, everyone.

How are you all doing out there?

I’m Kate Hill bringing you the best and unbiased and honest content on property along with some fantastic hints and tips and area reports and all sorts.

Stay tuned today for all your latest property news.

Now house prices throughout Australia reached new peaks in July this year according to new figures from PropTrack.

They say that while July is typically the slowest month for house price growth, nationally, house prices were up by point eight percent.

This led to a six point two eight percent increase in the past twelve months with Perth leading the pack.

Prices up twenty three percent, Adelaide up fifteen, Brisbane up fourteen, Sydney up ten, Darwin up four, ACT up one percent.

Melbourne is down one percent, Hobart is down two percent.

Proptrack senior economists say that the growth in Perth is quite astonishing.

They attribute the softness in Melbourne and the ACT to a solid flow of new properties coming onto the market.

Now that, of course, is only partway the truth, but anyway, that’s a whole other video.

With rental availability remaining low, they believe that prices will continue to rise.

The unit markets have also performed solidly in the past twelve months with price growth in most capital cities.

The strongest growth with nineteen percent in Perth, seventeen percent in Brisbane, and twelve percent in little old Adelaide. Property buyers are targeting new properties with the latest figures showing a lift in new home sales in the June quarter.

According to the Housing Industry Association, new home sales during the quarter are twenty percent higher than at the same time in twenty twenty three.

The HIA economists say that sales of new homes nationally increased by fifteen percent in the June quarter of twenty four compared to the March quarter.

They say that this will result in a lift in construction later in the year.

The increase in demand started in Western Australia in the second half of twenty three.

It was followed by an increase in new home sales in Queensland and South Australia in the first half of twenty four.

Now they say that these three markets have seen demand for new homes increase due to strong employment opportunities and the relative affordability of land, which is driving local population growth.

Market confidence is returning as the impact of rate increases dissipates and the shortage of housing stock makes new home building increasingly attractive.

Australia’s rental crisis is driving more people to share housing or to live with relatives as rents surge at the fastest pace in over a decade.

The CBA’s latest report highlights that rents are rising rapidly due to the high demand and limited supply, forcing many to adapt by economising through shared living arrangements.

Currently, about five percent of Australians over fifteen live in shared houses, a one percent increase from twenty to twenty one, equating to roughly two hundred thousand additional people.

Economists note that more individuals are also living with extended family like siblings, grandparents. As household formations shift to combat these rising costs, the annual rent growth rate has hit nine percent, which is the fastest since two thousand and eight, driven by near record low vacancy rents in our capital cities.

While rent increases have slowed slightly in Sydney and Melbourne, they predict only a gradual moderation in rent inflation.

Now the Australian rental market did show signs of stabilizing a little in July as more property investors re-enter the market, offering renters slightly more options after a period of record low vacancy rates.

Now data from PropTrac revealed a small decline in the national rental vacancy rate to one point four two percent driven by regional areas while the capital cities remained steady at one point four seven percent.

Over the past three months, rental supplies improved with vacancy rates rising by point one eight percentage point.

This increase has been more, and most noticeable in six of the eight capital cities.

Despite these improvements, the market remains very tight with vacancies still at half the rate considered balanced, which is three percent.

PropTrac noted that while investor activity has helped slow rental price growth, the market remains challenging for renters who continue to face really fierce competition.

Renters are still seeing price rises with national rents increasing by nine point one percent over the past year, building approvals at a decade low, and continued strong population growth driven by migration.

The rental market’s future remains uncertain.

Now, of course, I will keep you posted on all things property from around Australia as our year progresses.

Don’t forget to hit the like and subscribe button if you are enjoying all the free content, and I look forward to seeing you all soon. Bye.

Hello, everyone.

How are you all doing out there?

I’m Kate Hill bringing you the best and unbiased and honest content on property along with some fantastic hints and tips and area reports and all sorts.

Stay tuned today for all your latest property news.

Now house prices throughout Australia reached new peaks in July this year according to new figures from PropTrack.

They say that while July is typically the slowest month for house price growth, nationally, house prices were up by point eight percent.

This led to a six point two eight percent increase in the past twelve months with Perth leading the pack.

Prices up twenty three percent, Adelaide up fifteen, Brisbane up fourteen, Sydney up ten, Darwin up four, ACT up one percent.

Melbourne is down one percent, Hobart is down two percent.

Proptrack senior economists say that the growth in Perth is quite astonishing.

They attribute the softness in Melbourne and the ACT to a solid flow of new properties coming onto the market.

Now that, of course, is only partway the truth, but anyway, that’s a whole other video.

With rental availability remaining low, they believe that prices will continue to rise.

The unit markets have also performed solidly in the past twelve months with price growth in most capital cities.

The strongest growth with nineteen percent in Perth, seventeen percent in Brisbane, and twelve percent in little old Adelaide. Property buyers are targeting new properties with the latest figures showing a lift in new home sales in the June quarter.

According to the Housing Industry Association, new home sales during the quarter are twenty percent higher than at the same time in twenty twenty three.

The HIA economists say that sales of new homes nationally increased by fifteen percent in the June quarter of twenty four compared to the March quarter.

They say that this will result in a lift in construction later in the year.

The increase in demand started in Western Australia in the second half of twenty three.

It was followed by an increase in new home sales in Queensland and South Australia in the first half of twenty four.

Now they say that these three markets have seen demand for new homes increase due to strong employment opportunities and the relative affordability of land, which is driving local population growth.

Market confidence is returning as the impact of rate increases dissipates and the shortage of housing stock makes new home building increasingly attractive.

Australia’s rental crisis is driving more people to share housing or to live with relatives as rents surge at the fastest pace in over a decade.

The CBA’s latest report highlights that rents are rising rapidly due to the high demand and limited supply, forcing many to adapt by economising through shared living arrangements.

Currently, about five percent of Australians over fifteen live in shared houses, a one percent increase from twenty to twenty one, equating to roughly two hundred thousand additional people.

Economists note that more individuals are also living with extended family like siblings, grandparents. As household formations shift to combat these rising costs, the annual rent growth rate has hit nine percent, which is the fastest since two thousand and eight, driven by near record low vacancy rents in our capital cities.

While rent increases have slowed slightly in Sydney and Melbourne, they predict only a gradual moderation in rent inflation.

Now the Australian rental market did show signs of stabilizing a little in July as more property investors re-enter the market, offering renters slightly more options after a period of record low vacancy rates.

Now data from PropTrac revealed a small decline in the national rental vacancy rate to one point four two percent driven by regional areas while the capital cities remained steady at one point four seven percent.

Over the past three months, rental supplies improved with vacancy rates rising by point one eight percentage point.

This increase has been more, and most noticeable in six of the eight capital cities.

Despite these improvements, the market remains very tight with vacancies still at half the rate considered balanced, which is three percent.

PropTrac noted that while investor activity has helped slow rental price growth, the market remains challenging for renters who continue to face really fierce competition.

Renters are still seeing price rises with national rents increasing by nine point one percent over the past year, building approvals at a decade low, and continued strong population growth driven by migration.

The rental market’s future remains uncertain.

Now, of course, I will keep you posted on all things property from around Australia as our year progresses.

Don’t forget to hit the like and subscribe button if you are enjoying all the free content, and I look forward to seeing you all soon. Bye.

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