Property prices set to slow?

FHBA Market Update: 18/April/2017

As you often read in our weekly FHBA Market Updates, Australia’s two capital cities are currently witnessing large property price growth and they have been for a few years now.

While no one can always accurately predict what will occur to property prices, two leading Australian property forecasters have predicted that house prices will stagnate over the next three years in both Melbourne and Sydney, along with most of Australia’s other capital cities. Aspiring first home buyers across Australia will be hoping they are correct!

In today’s FHBA Market Update we take a look at the latest property price movements; new property price predictions from two Australian property forecaster companies; where the future of housing may be heading; why some young Australians are leaving Sydney for other east coast cities and why super access for your first home is probably not the best idea the government has to solve housing affordability.

News affecting first home buyers

Mixed news this week for first home buyers with everyone now waiting to see what the government will do in relation to housing affordability, in the upcoming May budget (or if they will do nothing at all):

Capital City Price Movements

The CoreLogic Daily Home Value Index (as at 18/04/2017):

  • Adelaide – 484.92 (Qtr + 2.8% / Yr + 2.4%)
  • Brisbane – 554.63 (Qtr + 1.6% / Yr + 4.9%)
  • Melbourne – 909.68 (Qtr + 4.4% / Yr + 16.9%)
  • Perth – 568.74 (Qtr – 0.8% / Yr – 5.1%)
  • Sydney – 1112.08 (Qtr + 5.7% / Yr + 17%)

(Source: CoreLogic)

Preliminary Weekend Auction Clearance Rates (15th – 16th of April, 2017)

Source: CoreLogic

*Please note auction results are still coming in from the Easter weekend and this will influence clearance rates

Interest Rates Update – 18/04/2017

While some of the standard interest rates banks offer home loan customers have been rising over the last few weeks, many banks are offering special rates for a short time. To see if you are eligible for any of the hot home loan specials on offer at the moment be sure to book in a complimentary, no obligation consultation with an FHBA Broker.

New Homes of the Week (ed. 50)

Over the last week we have been busy making enhancements to our FHBA New Homes Property Portal. The property portal, dedicated to first home buyer suitable homes, is popular amongst first home buyers searching for FHOG eligible affordable properties.

Learn more about the FHBA New Homes Property Portal makeover here

Tweet of the Week

Missed a previous FHBA Market Update? Click here to catchup now

Written By,

First Home Buyers Australia

First Home Buyers Australia
First Home Buyers Australia

Australia’s leading organisation specialising in assisting first home buyers achieve the great Australian dream of property ownership.