Housing set for fresh record highs

first_img FOLLOW SOPHIE FOSTER ON FACEBOOK Rates set to drop to historic low 0.75pc Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Index results as at September 30, 2019. Source: CoreLogicThe national index saw a 0.9 per cent lift month-on-month, “the largest monthly gain since March 2017” and the third month in a row it’s risen. Over the quarter the national value of housing was up 1.7 per cent, according to CoreLogic head of research Tim Lawless.This makes the job of the Reserve Bank of Australia board tougher when it comes to monetary policy setting, with experts widely predicting a fall in the cash rate target to 0.75 per cent for October to counter poor employment data and prevent rises in the AUD. The latest CoreLogic September home value index, out Tuesday morning, signalled that a recovery in property prices was well underway, with 1.7 per cent rises posted in Sydney and Melbourne, 1 per cent in Canberra, and 0.1 per cent in Brisbane for the month. Adelaide was flat, while three capitals went backwards — Perth (-0.8 per cent), Hobart (-0.4 per cent) and Darwin (-0.2 per cent). “Although housing values are now consistently tracking higher, at least at a macro-level, the national index remains 6.8 per cent below the October 2017 peak, indicating that buyers still have some time to take advantage of improved housing affordability before values return to record highs.”He said even though there had been a “rapid bounce-back in home values over the past two months” — Sydney up a cumulative 3.3 per cent and Melbourne up 3.2 per cent over August and September — they were still 11.9 per cent and 7.9 per cent below peak respectively. The latest home value index signalled a property price recovery is well underway, with Brisbane one of the capitals sitting in positive territory.Experts are warning Australia is now headed to fresh record highs for house prices, as the latest home value index posted its biggest monthly rise in more than two-and-a-half years. But there’s still time for buyers to get in before cheap credit and loosened lending scrutiny spark rises in property demand. Sydney has begun its bounceback.Critically for Queensland’s coastal markets, among the areas that have moved back into growth nationally were the Gold Coast (1 per cent) and Sunshine Coast (0.9 per cent.CoreLogic found that “the latest quarter has seen a substantial turn” with 33 capital city sub-regions recording rises in values, with parts of Melbourne and Sydney that had seen the largest correction during the downturn now facing upward pressure on prices.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoValues remain more than 10 per cent below their 2017 peaks. MORE: New top sale notched for Coast Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:40Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:40 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenQuestions for Millennial home buyers01:41 Beach house hits market with jawdropping pricelast_img

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