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Property market

Today

The three-bedroom, one-bathroom terrace house at 6 Cook Street in Sydney’s inner-western Glebe sold at auction for $2,151,000.

Serious buyers are out there – they’re just not hurrying

In a sign of how much the market has turned, the vendor of this Sydney property waited until the final week of a four-week campaign before the buyer appeared.

  • Michael Bleby

Yesterday

Austrata Finance CEO Andrew Boss.

Multibillion building rectification bills draw new lenders, loans

Friction over the new loans reflects the pressures on strata management, a cottage industry that has undergone huge growth and has to deal with increasingly complex issues.

  • Michael Bleby

It’s a buyer’s market as auction weakness spreads

Fewer new listings and vendor discounting have helped ease tumbling clearance rates a little, but the market is still trending down. It’s a boon for buyers. 

  • Nick Lenaghan

This Month

Sydney house prices on track for 20pc fall

The Reserve Bank of Australia’s likely 0.5 percentage point interest rate rise in August will completely knock out the Aussie housing market.

  • Christopher Joye
The Evergrande property slump was a defining moment for Chinese economy.

China in crisis meeting with banks on mortgage boycotts

Reports of rapidly escalating refusals to pay mortgages have sparked losses in Chinese bank shares, reflecting concerns that the property crisis may spread to the financial system.

  • Bloomberg News
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Rents jumped a record 12pc last year

The median asking rent of houses across all state and territory capitals jumped 12 per cent over the year to June – a record – and the equivalent figure for unit rents leaped 12.2 per cent.

  • Michael Bleby

Problems in your apartment block? Don’t sell without telling

Honesty is the best policy as silence over a nasty neighbour sees a sales contract rescinded.

  • Jimmy Thomson
Gamuda Land Australian general manager Jarrod Lai at its site at Fishermans Bend.

Malaysian developer sets sights on building 1000 homes by 2027

Gamuda Land’s latest project is a 200-unit tower in Melbourne’s Fishermans Bend as it hunts for more sites around the city.

  • Larry Schlesinger
Geoff Lucas.

The Agency takes a $5m step across to Tasmania

The ASX-listed real estate company has made the Apple Isle its six state of operation with acquisition of the family-owned Bushby Group.

  • Michael Bleby
The Gleneagle site acquired by Villawood Properties will support 600 lots.

Villawood adds $415m of projects to Queensland residential pipeline

Victoria-based Villawood Properties is moving swiftly ahead with its interstate expansion after buying three sites in Queensland.

  • Larry Schlesinger
The three-bedroom apartment at 25/16-18 Harrison Street in lower north shore Sydney’s Cremorne sold at auction for $1.93 million.

An $8000 reno adds $300,000 to sale price of Sydney unit

In a lower north shore suburb with plenty of one- and two-bedroom apartments for sale, one vendor found a cheap way to attract downsizers with a third bedroom.

  • Michael Bleby
Continued pain: Building material cost inflation may be past its worst but energy costs are now a growing threat to the industry.

Energy adds to builders’ woes as costs rise the fastest in 20 years

Construction cost inflation is spreading beyond materials more widely and one key input - energy - now has the industry even more worried.

  • Michael Bleby
Xavier College closed its Kostka Hall campus in Brighton last year.

Xavier College sells Brighton campus for $100m to Golden Age

The Jesuits’ exit on South Road provides Golden Age a development prize and a rare entry into one of Melbourne’s mostly highly sought suburbs.

  • Nick Lenaghan
The do-it-upper terrace house with plans approved for a renovation at 192 Crown Street in Sydney’s Darlinghurst sold for $1,365,000 at auction on Saturday. 

‘Two-part’ housing market bumps along the bottom

Even as borrowing costs rise, the largest market correction in 40 years is playing out selectively, and its effects are not felt across the board. 

  • Michael Bleby

New home build backlog may be starting to ease

A $6 billion backlog in housing construction could show early signs of easing next week, as supply chain constraints and poor weather begin to improve.

  • Tom McIlroy
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As clearance rates ease and prices fall, vendors are accepting larger discounst on their asking prices.

Buyers and sellers buckle up for the biggest correction in 40 years

Vendors are discounting, clearance rates are falling along with listings of homes for auction as unsold stockpiles up. But bargain hunters are also getting more cautious and nobody wants to get caught overpaying.

  • Nick Lenaghan and Michael Bleby
Harry Charlesworth, 22, bought an apartment in Elizabeth Bay for $45,000 below the amount the owner paid in 2020.

Harry, 22, just bought a $705k apartment without help from his parents

How this university dropout turned start-up executive bought a one-bedroom Sydney property without needing to tap his family.

  • Gus McCubbing

Sellers fear property market ‘grinding to a halt’ as decline picks up

As rate rises start to bite, buyers are refusing to pay asking prices while banks are offering big discounts and cash incentives to attract reluctant borrowers.

  • Duncan Hughes

What history tells us about falling house prices (in five charts)

Sydney is on track to record a 15 per cent fall in prices, which would be the largest downturn on record. But past cycles provide clues about when the market is likely to recover, and what to look for.

  • Ingrid Fuary-Wagner and Les Hewitt
caption to come.

How the RBA duped Aussie households

Martin Place risks destroying economic prosperity with some of the most aggressive rate increases in the world that are based on forecasts not worth the paper they are written on.

  • Christopher Joye