Prospera Finance Latest Blogs
Last quarter’s least and most profitable housing markets revealed
Nearly half of all apartments sold in central Melbourne during the December quarter were unprofitable due to poor capital gains, according to CoreLogic. Wayne Taylor Home sellers pulled in a record $306,000 average gross profit in the December quarter, boosted by the sharp gains racked up during the pandemic boom cycle, CoreLogic’s Pain and Gain [...]
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Why now might be the right time to add to your property portfolio
Market dynamics bolster what looks to be a property investor turnaround. Rhett Wyman Despite the high interest rates, many property owners across Australia saw their equity holdings significantly bolstered last year, as large swaths of the nation’s property market saw strong value gains. Now that rates have finally dropped for the first time in more [...]
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New property listings jump in February
Australia’s residential property market saw an increase in listings in February, with both new and total listings rising compared to the previous month and year, according to data from SQM Research. Total listings reached 429,325, up 2.3% from January and 4.1% from February 2024. Much of this growth came from Sydney, where listings jumped 11.6% [...]
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Which suburbs have become affordable after the rate cut?
This month’s interest rate cut has boosted buying power for home buyers across the market, with the benefits arriving first at the top end of the market. The weekend auction market is already showing more bounce as aspiring home buyers take stock of the market and size up opportunities, less than a week after the [...]
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Rate cut to boost buyer sentiment, but not house prices
The Reserve Bank of Australia’s decision to cut the interest rate by 0.25 of a percentage point to 4.1 per cent will put a floor under house prices in the country’s two biggest housing markets, but is unlikely to spark a surge in prices, economists and property analysts say. Paul Bloxham, HSBC’s chief economist, said [...]
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Home loan demand rises as buyers ready for rate cut
Hopeful home buyers are preparing for lower interest rates as early as next week by arranging financing in larger numbers, with real estate agents hoping the Reserve Bank of Australia will unleash a surge in transactions after a slow start to the year. The number of mortgage applications, a forward-looking indicator, rose 2.7 per cent [...]
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Slowing Perth, Brisbane housing markets boost affordability hopes
Housing affordability could get a boost in coming months, with the Brisbane and possibly Perth markets likely to join Sydney, Melbourne and Canberra in a downturn that is expected to receive only a modest lift from interest rate cuts this year, economists say. The pressures from nearly three years of high interest rates and soaring [...]
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Westpac brings forward rate cut forecast
Following the release of new inflation data, another major bank has said it expects the central bank to start the easing cycle next month. Westpac Group (Westpac) has revised its cash rate call for February 2025, suggesting that the Reserve Bank of Australia (RBA) will now start the easing cycle following its meeting next month. [...]
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Home listings pile up in Sydney and Melbourne amid falling prices
Stock levels are piling up in parts of Sydney as more sellers come to market amid weak buyer demand. Peter Rae Sellers racing to beat the competition – in a falling market already padded by properties that failed to sell in spring last year – have pushed up the volume of residential listings in parts [...]
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