Australia’s major banks are forecasting the nation’s property boom to continue under the auspices of strong economic rebound and ultra-low interest rates. The accelerating post-COVID-19 price rise is largely driven by owner-occupier purchasers and reflects supply lagging behind the shifting demand. The CEOs of four major banks all signalled an optimistic outlook on the house…
Australian Bank Tells Distressed Property Investors to Sell
March 30, 2021
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Commonwealth Bank of Australia (CBA) is encouraging distressed property investors to take advantage of the surging house prices and sell their properties. Listing investment properties on the market is one of several options the bank is suggesting for customers who are unable to repay their home loans, according to The Australian. “If you’re an investor,…
Office Vacancy Rate at Over 20-Year High Across Australia
February 4, 2021
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The vacancy rate for Australian office spaces has reached a 24-year high with a reduced demand amid the CCP virus pandemic, while at the same time significant amounts new supply have been added to the market. The Property Council of Australia Office Market Report for the six months leading to January 2021 found the vacancy…
Inner City Living Falling Out Of Fashion Thanks to CCP Virus Pandemic
The popularity of inner-city living is declining amidst the CCP Virus pandemic alleges a new report from real estate advisory Corelogic. According to the report apartment rents in Sydney and Melbourne plunged by 5.7 percent and 7.6 percent respectively last year as COVID-19 lockdowns and border restrictions dried up the stream of tourists and overseas students…
Hollywood Celebrities Flock to Small Australian Beachside Town
An increase of Hollywood productions in Australia has attracted famous and rich names to a small seaside town in northern New South Wales which has driven up real estate prices in the once quiet surfers’ paradise. Inquiries about properties in Byron Bay have surged, with city-dwellers inspired by the onset of working-from-home during the pandemic…
HomeBuilder Has ‘Saved the Day’ for Construction Industry: Master Builders
The building industry’s peak body is applauding the success of the HomeBuilder scheme, which is expected to support $18 billion worth of residential construction and renovation projects. “There is no doubt that the Federal Government’s decisive action to implement HomeBuilder in the eye of the COVID storm saved the day for thousands of small builders…
Australian Regional Property Markets Racing Ahead in Profits
A new report by property researcher CoreLogic has found that the property market in rural and regional areas experienced a boom in the last financial quarter. The latest Corelogic Pain and Gain report found that just over 88 percent of housing sales made a gain in the September quarter, translating into $24.8 billion in profits. This was…
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