Property in the media

What was discussed in the media last week effecting investors, property owners, and renters. We have summarised the key information from the week that was.

National Rental Enquiry

The National Rental Enquiry is seeking input from Landlords and Tenants and may result in a recommendation for a rent freeze being imposed. You can voice your opinion up until the 4th of August. See the link on our Bio for more information. Given there is a mass exodus of investors from the market and a lack of new investors buying, this could be disastrous for both Landlords and Tenants.

40% of all sale listings in Sydney are investment properties

Almost a third of all auction listings in Sydney and Melbourne over the past week were investment properties, as higher interest rates and taxes force landlords to sell. The figure comes as Jarden research showed investor listings as a share of all listings hit a record high of 40% in Sydney in June.

Sydney House Prices Jump 5.3%

Domain has reported a 5.3% jump in Sydney House prices in the June quarter, which is more than four times faster than the growth recorded in the previous three months, and the sharpest quarterly increase since late 2021.

The rapid growth has also exceeded the historical average of 2.8%, fuelled by strong demand outpacing the available home listings.

Predicted increase in house prices

Domain is predicting Sydney house prices to increase as much as 9% by June next year, Melbourne to rise by up to 2%, and Brisbane by 4%. Across the combined capitals, house prices are forecast to increase between 2 % and 4%.