The numbers that drive our future
More homes are coming under the hammer as the Spring selling season heads towards Grand Final weekend. But the extra stock in the market combined with fewer bidders is leading to lower clearance rates and clear signs the country is heading for a buyers’ market, according to analysts.
The auction market is at its busiest for six months with almost 2,500 properties going under the hammer.
Perth and Adelaide are expected to record Australia’s strongest house price growth with first-time buyers driving the residential market, a new survey shows.
Signs of a softening housing market as more property comes up for auction, and advertised stock on the market for longer.
High inflation "hurts everyone" but especially those on low and fixed incomes, RBA governor Michele Bullock stressed following a sluggish economic growth report.
Apart from COVID, economic growth is at its the slowest since 1991/92 when Australia was gradually recovering from the 1991 recession.
Economists say the slowdown was largely expected and won't persuade the RBA to cut interest rates any time soon.
The RBA seriously considered an increase to the cash rate in August and has warned cutting them in 2024 could keep inflation above its target until mid-2027.
Get Australian Conveyancer News Alerts pushed to you
All news, articles and insights on the Australian Conveyancer are available free and online. Subscribe to receive these insights direct to your inbox every week. Stay on top of the issues affecting the industry and your business.