CoreLogic RP Data’s latest Rental Review shows that the biggest capital city rental market losers were Perth, Darwin & Canberra, where over the year, rents have dropped by -4.2%, -4.7% and -2.6% respectively.
According to data from the Reserve Bank the ratio of household debt to disposable income is 153.8% and the ratio of housing deb to disposable income is 140.3% both of which are record highs.
Following on from our look at the most affordable inner-city suburbs last week, this week we are highlighting the most affordable middle-ring suburbs across each city.
Over the first quarter of 2015, rental rates on a national basis have risen by 1.3% for houses and units, while, across the combined capital cities.
The cost of housing close to the centre of capital cities is continuing to climb due to the inherent shortage of land, high buyer demand and abundance of amenity in these regions which is resulting in buyers paying a premium in order to secure a home
Recently released population growth data from the Australian Bureau of Statistics shows that some of the regions with the strongest population growth are in South-West Western Australia.
Demographic data for the September 2014 quarter released by the Australian Bureau of Statistics (ABS) last week shows the fewest interstate movements in many years over the quarter.
The CoreLogic RP Data Pain & Gain Report is a quarterly assessment of realised gross profit and loss based on dwelling re-sales over the December Quarter of 2014.
Across Australia, homes are being owned for longer, with the average number of years a capital city house is owned climbing from 6.8 years a decade ago to 10.5 years.
The cost of vacant land has risen again in 2014 however, the typical area of those vacant lots which have sold has actually increased over the past year reversing a more than 20 year trend of reducing lot sizes.
Based on CoreLogic RP Data’s estimates of residential sales transactions to December 2014, there were 471,932 dwelling sales nationally.
Early signs are emerging that lower mortgage rates are providing further stimulus to housing market conditions.