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Auction levels fall, buyers remain hesitant, and capital city markets take a blow: here are the biggest property and real estate stories from the past week.
Welcome to REB’s weekly round-up of headline stories and news that are important not only for the real estate sector but also for the state of property in Australia more broadly.
To compile this list, not only do we consider the week’s most-read stories and the news that matter to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape. Here are the biggest property stories of the week:
1. One-fifth of Sydney auctions withdraw as volume and clearance rates fall nationally
CoreLogic reveals a marginal decline in auction levels and preliminary clearance rates this week.
2. Rate hikes stymie spring selling frenzy
Data shows that new home sales have had their “weakest” quarter since June 2020.
3. AHURI report highlights need for government solutions to social housing problem
Social housing stock built per annum is falling concerningly short of what is needed, according to the national body.
4. Number of Australian markets in decline doubled during September quarter
A report finds a significant number of Australian capital city housing and rental markets have experienced value decreases throughout the last quarter.
Following the Queensland government’s emergency housing summit, industry bodies have proposed suggestions towards the state’s housing crisis.
6. RBA makes a case for slowing rate rises
Recent floods and inflationary pressures will factor into the central bank’s next monetary policy decision.
7. Australians yet to wake from ‘Great Australian Dream’
New data suggests that many Australians indicate desires to relocate and are “unwilling to sacrifice the lifestyle they have become accustomed to”.
8. How our climate future will dictate city design and home construction
A Singaporean architect has urged for greater innovation in urban city design.
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