Regional housing market continues to slow

[{"selector":"#anim-0c826900-7260-4b43-a829-c5ee672ecd7a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] AFTER a “regional renaissance” brought on by the global pandemic, property market conditions in Australia’s regions are... Read more

[{"selector":"#anim-e9743b49-e5ce-4184-bb8c-1ac19cc065c8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to the annual PropTrack Regional Report 2022, regional Australia is seeing slowing market conditions after house prices had... Read more

[{"selector":"#anim-8f85d12a-03fa-4d66-a1b9-c4d94ebf0a53 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Home prices across the regions have dropped 2.2% since their April peak this year, though are still holding strong compared to declines seen in the capital cities. Read more

[{"selector":"#anim-ea2d0174-7c26-487c-92c9-91eb7e005b32 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Home prices across the regions have dropped 2.2% since their April peak this year, though are still holding strong compared to declines seen in the capital cities. Read more

Likewise, home prices in the capitals have fallen 2.1% from the same time last year, while still sitting 24.4% up on pre-pandemic levels. Read more

[{"selector":"#anim-cb1262a7-5904-4619-97f5-0dd26f18b0f5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] While in regional Australia, home prices are still sitting 6.5% up on their level a year ago and are up 46.6% on March 2020 levels. Read more

[{"selector":"#anim-33643a79-e78c-4b12-a917-19f2a7a70229 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “Throughout 2020 and 2021, we saw the pandemic, multiple lockdowns and... Read more Eleanor Creagh, report author, senior economist at PropTrack. White Scribbled Underline

[{"selector":"#anim-c47fc7aa-c04a-4127-8bfe-87e2d1f7a93b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] After two years driven by a shift in preferences towards lifestyle locations, with sea- and tree-changes trending... Read more

[{"selector":"#anim-35fbecaa-8690-41fe-b354-9115491cdea4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “Housing markets in regional Australia thrived as people sought more space and more affordable homes. Remote working opportunities and... Read more

[{"selector":"#anim-b59e3dc4-3b55-4f16-bd18-98ed14730405 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “As public health restrictions have eased and interest rates have quickly risen, the boom has been replaced with slower growth and... Read more

[{"selector":"#anim-fdb676ed-c6fb-4037-b355-c701dab29696 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The number of potential buyers per listing in regional Australia has now dropped 22% from the peak recorded in January this year, though this is... Read more

[{"selector":"#anim-eb36e4f8-674f-4a8e-b782-6db28ff6de76 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Stock in the regions is also limited, falling 37% from pre-pandemic levels, leaving far less choice for regional buyers... Read more

[{"selector":"#anim-02c34584-d95d-4f1e-ab17-ab5aecbdec7f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The opposite is true in the capitals, with options expanding in Sydney and Melbourne, where total listings are... Read more

[{"selector":"#anim-f5ca840c-1215-4aab-8b60-a9445d63932e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] While regional prices are forecast to continue to slow, amidst monetary tightening and lowered net migration... Read more

[{"selector":"#anim-dfa567b3-6764-43cf-97bf-c4f10d298c30 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “Regional markets are likely to continue to exhibit a slower pace of price falls compared to capital cities. They remain buoyed by... Read more

[{"selector":"#anim-9c6d7467-91c2-4c27-8565-432b25533e48 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “In addition, conditions remain tougher for regional buyers, with the number of properties listed for sale still well below... Read more

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