PropTrack

Investor loans have been trending upwards for the past few quarters and are now above the five year average. This is contributing to an increase in rental supply and a moderation of rent prices. Renters now have more choice than they did a year ago. Securing a property has also become less competitive, with slower population growth and the increased adoption of share housing to offset rising living costs. Read more: https://lnkd.in/g4rkbqb7

We're thrilled to announce that REA Group has entered into an agreement to acquire a minority stake in Agtuary, a leading platform specialising in rural property and environmental data and insights. Agtuary is transforming the landscape of rural property management and investment with cutting-edge geospatial analytics and AI-powered tools. The platform’s capabilities allow professionals to make informed decisions with products like land due diligence and environmental reports, mobile inspection apps, mapping, portfolio management, and emissions accounting. We look forward to working closely with Agtuary to identify ways to collaborate and create valuable solutions and services for our customers. You can read more in the media release here: https://lnkd.in/gxiehF5u

Our latest Home Price Index revealed house prices hit a new record in February. National house prices increased 0.40%, reversing the small price falls in recent months. Check out the below video for the top things you need to know this month.

National home prices hit a new peak in February, according to the PropTrack Home Price Index released today. The report found national home prices rebounded and grew 0.40% following mid-February’s interest rate cut. February’s rate cut boosted borrowing capacities, while improved affordability and buyer confidence have driven renewed demand and price growth, reversing the falls of recent months. Read more here: https://lnkd.in/gAVM5jTa

This week's newsletter looks at the impact of the Reserve Bank's recent rate cut on home prices. Senior Economist Eleanor Creagh breaks down the following: ◼️ A boost to buyer confidence and auction clearance rates. ◼️ Potential price growth in Sydney and Melbourne. ◼️ Key insights on market trends and what to expect in 2025. Don’t miss out on how these changes could affect your property value and subscribe to be notified each week.

New listings increased 2.7% year-on-year in January - the highest volume of new listings for the month of January since 2018, according to the REA Group Listings Report. The persistent strength of new listings has resulted in the highest volume of total listings since January 2021, giving buyers more choice. Read more below.

During the high house price growth period in 2021, a staggering 418 suburbs joined the million dollar club. While the list continues to expand over time, there are a number of suburbs that have fallen off the list recently. PropTrack Economic Analyst Megan Lieu shares the suburbs that have fallen out of the million dollar club in the past year: https://lnkd.in/gE4CHawb

Despite a slowdown in house price growth, Australian home loans have hit record highs. In this week's newsletter, Senior Economist Eleanor Creagh analyses ABS data which reveals a 1.4% rise in the total value of new home loan commitments in the December 2024 quarter, even as the number of loans fell by 0.4%. Key Highlights: ◼️ Owner occupier loans increased by 4.2% in value, hitting an all-time high average of $666,000. ◼️ Investor loans saw a 2.9% decline but reached a record average size of $674,000. ◼️ Expectations of interest rate cuts in February could boost buyer confidence, potentially reversing recent price declines. As we anticipate shifts in interest rates, stay tuned for insights on how these trends could impact the 2025 housing market and subscribe to be notified each week.

An increase in rental properties on the market is reducing competition and giving more negotiating power to renters after years of tight supply and rising costs. According to PropTrack's latest rental report, rent price growth has slowed to its lowest rate since mid-2021. In certain areas within larger capital cities, analysis shows that renters are securing significant discounts worth more than $50 a week compared to the typical advertised prices in those areas. PropTrack Economic Analyst Megan Lieu shares the areas with the largest difference between median rent and advertised rent: https://lnkd.in/gKNqahqb

Home prices in most suburbs across Australia have increased since interest rates started to rise in 2022. Though the initial hikes drove prices down, the market soon stabilised, with buyer and seller activity fuelling price increases. Thus, while mortgage holders have been paying more monthly, their home equity has continued to grow. Read more on how Australian home prices have changed amid interest rate rises: https://lnkd.in/garNPSxe