Eleven buyers – a mix of young families and developers, who were eyeing it for its knock down potential – registered to bid. Two key statistics indicate that Australia’s housing affordability crisis will continue to worsen, even as governments scramble to ease supply constraints. Byron Bay might be out of reach, but Sydneysiders are ditching the commute for coastal hotspots that cost half the price of the capital.

So much so, that some owners preferred to leave their homes empty rather than renting them at rates that wouldn’t cover costs. Another risk factor in the property sector in 2023 is an increase in interest rates, which could also cause people to put off buying property. We believe that interest rate hikes will continue until the first half of 2023 but rates are expected to stabilize or decrease in the second half.

Sluggish rate of new home approvals is bad news for renters, buyers

South African home renovations transcend mere aesthetics; they stand as strategic investments for substantial financial gains. This Lion’s Head home is situated on The Atlantic Seaboard’s largest residential plot. Unless you live in an area that is super walkable and has public transport , you’re likely going to want a car in Spain. Having lived there for the better part of two decades, Sally shares her experience of buying a car. With hybrid work the new norm, the industry is betting on sedate suburban and small-town locations where employees of big companies go to escape their homes.

• There were 411 sales across the 12 markets covered in the three months to December compared to 370 in the same period in 2022.
• Limassol has the highest percentage price increases year-on year for both apartments and houses at the end of the first quarter of 2024, according to a report issued by Cypriot fintech…
• The latest PropTrack listings report revealed the Aussie property market saw the strongest new listings for the month of April since 2021.
• Ohri said that Indian diaspora across the world, including in the US, Middle East, South East Asia, Australia and Canada, had purchased homes in different DLF projects.
• Canggu has probably seen the most dramatic increase in land prices during the entire real estate history in Bali.
• Meanwhile, Mr Kusher said as the property market continued to strengthen, the rental market remained strained due to a lack of rental stock available.