Australian Property

With the end of the month, so too comes the release of the latest housing price data from Cotality (the artist formerly known as Corelogic) and PropTrack.

Mark Litwin, Head of Investment Sales (NSW) at Knight Frank, penned a report on Sydney’s housing market fundamentals, which are underpinned by “persistent undersupply”.

On Wednesday, the rush to the bottom by Australian policymakers to pump housing demand entered yet another chapter, this time with multiple state government’s taking their turn.

When the pandemic arrived on Australia’s shores in early 2020, housing was already unaffordable for a majority of households, as illustrated by falling homeownership rates and declining rates of household formation.

If there is one country that has come to embody the absolute failure of developed world policymakers to address existential economic and social issues, it is South Korea.

The NSW government’s budget papers show that the state is expected to post a deficit of $5.7 billion for the 2024-25 financial year.

With the release of the latest rental vacancy rate figures from SQM Research, it was revealed that, at a national aggregate level, zero progress had been made in addressing the nation’s rental crisis over the last 12 months.

During the Albanese government’s first term, one of the main policy focuses was on public housing.

Net overseas migration is undoubtedly the most significant driver of housing demand in Australia. Australia’s population grew by 445,900 in 2024 (equivalent to a Canberra), driven by net overseas migration of 340,600.

Policymakers want Australians to live in shoebox apartments to alleviate the structural undersupply of housing in our major cities and accommodate endless population growth.

Canada experienced an unprecedented immigration boom after the pandemic, which caused a record housing shortage.

Cotality’s preliminary auction report revealed that the national clearance rate was 73.9% this weekend, which is the highest preliminary result since July 2024.

Over the past week, we have seen multiple articles like the following from The West Australian complaining about the decline in housing affordability, which has left residents struggling to pay mortgages or rent.

In September 2024, the Housing Industry Association (HIA) labelling the federal government’s failure to control immigration a “systemic policy failure” that “compounds the challenge of delivering sufficient housing”.

Master Builders Australia (MBA) has used a submission to the Productivity Commission to argue that the federal government should provide tax incentives to builders who meet industry standards.

Westpac’s latest consumer sentiment survey suggested that Australians have turned bullish on housing.

In last month’s budget speech, Victorian Treasurer Jaclyn Symes labelled the state government’s controversial Suburban Rail Loop (SRL) project as “Australia’s largest housing project”.