Property

Treasurer Jim Chalmers says the Opposition is politically profiting from high inflation, after a big four bank predicted a Melbourne Cup day rate hike and big house prices falls by the end of next year.

Weakened buyer confidence and reduced borrowing capacity have driven down house prices across every capital city for the first time in 15 years.

An American A-lister has reportedly snapped up the late Sam Neill’s sprawling New Zealand lifestyle estate.

Australia faces the worst housing downturn in 70 years as the likelihood of the fourth interest rate hike this year diminishes the borrowing capacity of prospective borrowers, a leading housing economist says.

Australia’s largest mortgage broking group is warning recent first homebuyers are most at risk of being trapped owing their bank more than their home is worth as property prices plunge.

It may sound dramatic, but the numbers make it difficult to conclude anything other than this: housing confidence is heading towards a cliff.

Mortgage applications from first homebuyers are in the worst freefall since 2022 and sales of brand new homes have tanked, calling into question Labor’s Budget plans to boost housing supply.

The typical homeowner in one Australian state is $32,700 poorer as a result of interest rate rises and Labor’s Budget tax changes, which are denting consumer sentiment again.

Treasurer Jim Chalmers shouldn’t be taken seriously when he claims Labor’s ‘really important reform’ on property taxes will help young people buy their first home.

Suburbs more likely to vote One Nation across the country have one major surprising factor in common during Australia’s housing downturn.

Administrator Stephen Longley said 350 staff at the company’s head office face immediate dismissal if funding can’t be found to keep the business going, throwing into turmoil 219 housing and apartment projects.

Australia has finally stopped falling behind on a major housing target — but one major bank is warning a price drop looms for two capital cities.

STEPHEN JOHNSON: Tenants are set to pay a lot more for rent as Labor’s Budget tax changes discourage future property investment.

The move would reduce affordability and security problems for renters across the country.

Treasurer Jim Chalmers has backed Treasury’s call that house prices will keep climbing over the next couple of years, even as the downturn deepens and major banks tip further falls.

’I was strategic with the amount. I didn’t want it to be something that I noticed.’

This three-bedroom, two-bathroom property looks like a steal, but with ‘a little more emotional trauma’.

AARON PATRICK: Allowing new homes to be built is one thing. Changing the tax rules and pushing down prices is another. Mr Albanese is changing the country. Investors are being forced to adapt.