In periods when house prices were soaring,more property owners were enticed by the prospect of a quick flip. But now?
Only a handful of homes changed hands in a string of sought-after inner city postcodes and tiny neighbourhoods further afield over the past year.
Australians have witnessed the sharpest rise in interest rates in a generation,but the property market could have another surprise in store.
As interest rates soar,some neighbourhoods are starting to display more red flags for mortgaged households than others.
Experts previously warned that a cash rate of 4 per cent or more could trigger a wave of distressed sales.
Greg Clark,a London-based urban planning expert visiting Australia this week,said public land was the “secret weapon” in the housing supply challenge.
Home buyers are feeling the pinch as their budget falls faster than property prices,while mortgage repayments and the cost of living get worse.
After the steepest price falls on record,will it get any easier to buy a house this year?
Sydney’s steepest downturn is past its worst point and many pockets of the city recorded double-digit price gains over the past year.
Six-figure sums have been slashed from house prices in popular coastal destinations that boomed during the pandemic.
Home values lifted last month,the first national rise since April last year,but is it a turnaround or a false dawn?