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The weekly round-up of the biggest news stories from across Momentum Media’s property brands from the week ending 15 September.
To compile this list, not only do we consider the week’s most-read stories and the news that matter most to you, but we also 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. Investor lending nears record high
New figures from the Australian Bureau of Statistics (ABS) have revealed that investor lending activity continues to outpace that of owner-occupier growth. The value of investor loans totalled $11.7 billion in July 2023, according to the ABS, just shy of the $11.8 billion record high achieved in January 2022.
2. Total residential dwelling values near $11tn: ABS
The total value of residential dwellings in Australia rose to $10.9 trillion in the June 2024 quarter, while the number of residential dwellings climbed to 11.2 million.
3. 1 in 3 first home buyers using Home Guarantee Scheme
The federal government’s Home Guarantee Scheme was used by 43,800 first home buyers – roughly one in three – in the financial year 2023–24, according to the most recent Trends and Insights report from national housing authority Housing Australia.
4. NSW government welcomes new housing report
The Minns Labor government has embraced the Productivity and Equality Commission’s latest report, Review of Housing Supply Challenges and Policy Options for New South Wales.
5. How prices are expected to perform over spring
Values fell in almost a third of Australian suburbs over the latest quarter, with four major cities home to most of the negative growth.
6. Greens urge Treasurer to cut rates
The Greens are urging the Treasurer to use his powers to bring down interest rates, in exchange for them backing the RBA board reform.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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