Sorry, you have Javascript Disabled! To see this page as it is meant to appear, please enable your Javascript!

CITY OF SYDNEY NEWS • HOMES AND PROPERTY • PROPERTY • PROPERTY SALES • REAL ESTATE

Australian home values record the largest decline on record

9 January 2023

Category - PROPERTY SALES

CITY OF SYDNEY NEWS • HOMES AND PROPERTY • PROPERTY SALES • REAL ESTATE • Sydney Living • Sydney Real Estate • Sydney Units • Town Planning

COVID-19 pandemic likely to impact near-term supply and long-term design of housing in Australia and around the world

18 September 2020

by Sponsored

Tweet COVID-19 pandemic likely to impact near-term supply and long-term design of housing in Australia and around the world Knight Frank has released the results of a survey of 160 global developers across 22 nations...

Check-in date

Fri 27 Jan 2023

Check-out date

Sat 28 Jan 2023

I don't have specific dates yet

Facebook Posts

Sydney Times

2 days ago

Australia Day 2022 - Dawn Projection ... See MoreSee Less

Australia Day 2022 - Dawn Projection

youtube.com

Video

View on Facebook

Sydney Times

4 days ago

We enjoyed a great Lunar New Year Fine Dining experience with amazing Chinese regional dishes and matching wines @spice.temple yesterday and it was exceptional - well worth taking the Matching wine supplement - check out the Menu on the front page of the Sydney Times ... See MoreSee Less

Photo

View on Facebook

Sydney Times

4 days ago

Premier Dominic Perottet received a “rockstar welcome” at a Chinese Community event on the deck of the Museum of Contemporary Arts , The Rocks tonight to light the sails of the Opera House to officially commemorate the Lunar New Year and the Premier emphasised the rich cultural and ethnic diversity of the Sydney community. ... See MoreSee Less

Photo

View on Facebook

Sydney Times

2 weeks ago

SHUO SHU 说书 17 December 2022 - 14 May 2023 Curated by David Williams – Sydney Times

www.sydneytimes.net.au

SHUO SHU 说书 17 December 2022 – 14 May 2023 Curated by David Williams When wandering through the streets of imperial China, amidst bazaars and teahouses, one might stumble across the [...]

View on Facebook

Sydney Times

3 weeks ago

Australian home values record the largest decline on recordThe CoreLogic Daily Home Value Index (HVI) hit a record decline of -8.40% on 7 January 2023 after peaking on 7 May 2022.The result takes the national housing downturn into new territory, breaking the previous record in peak-to-trough declines, when home values fell -8.38% between October 2017 and June 2019. While the housing downturn between 2017 and 2019 lasted 20 months, the new record-breaking price falls have played out in less than nine months, with further falls expected in the months ahead.The main force behind record home value falls is the recent cycle of rate hikes that have risen at the fastest pace on record. A 300-basis point increase in the underlying cash rate over just eight months has resulted in a rapid reduction in borrowing capacity, lowering the amount buyers can offer for homes. In addition to constrained borrowing capacity, higher interest costs may be dissuading potential buyers altogether.Australians are also more indebted today than through historic periods of rate rises, with the latest Reserve Bank of Australia’s estimate of housing debt-to-income ratio sitting at 188.5%. A decade ago this figure was 162.0% and in 2002 the ratio was 130.2%. Higher inflationary pressures, combined with a post-lockdown surge in spending, has also eroded household savings, which could be utilised for a home loan deposit. Softer housing demand may also reflect Australia’s ‘hangover’ from the elevated sales and listings activity through the 2021 boom, when an estimated 619,531 transactions occurred over the calendar year. Downturn frontrunnersThe bulk of the downturn is being led by Australia’s three largest capital cities, which also have the largest weighting in the national home value index. Sydney home values have seen a peak-to-trough decline of -13.0%, For perspective, the -8.4% drop has come off a high base. The sharp decline in dwelling values follows an upswing of 28.9% between September 2020 and May 2022, which was the fastest rise in home values nationally on record. The fall in national home values may be the largest peak-to-trough decline on record, ... See MoreSee Less

Photo

View on Facebook

error: Content is protected !!

Australian home values record the largest decline on record

Category - PROPERTY SALES

COVID-19 pandemic likely to impact near-term supply and long-term design of housing in Australia and around the world

Destination

Check-in date

Check-out date

About Us

Our Journalism

Membership