Home values rise in October
Housing prices rose 1.1 per cent nationally in October, led by strong gains in Perth, Brisbane, and Adelaide, though prices rose everywhere as the first homebuyer deposit guarantee scheme kicked into gear.
Source: Cotality
Over the quarter, there were 5 per cent price gains in Perth, Brisbane, and Darwin.
Over the year, housing prices were up 6.1 per cent.
Source: Cotality
Cotality reported that in the capital cities the strongest price increases were in the middle (1.4 per cent) and lower (1.3 per cent) quartiles of the market, as first homebuyers compete with investors.
Supply remains very tight.
Building costs have continued to climb, rising by 0.6 per cent to be 31 per cent higher over the past five years.
You can download Cotality's report
here.
---
In other news, Westpac reported its latest full year results - I took a brief look through the housing loan portfolio performance
here:
Source: Westpac, investor presentation pack
There are still some loans in hardship, but these are largely running off now.
Interest-only lending has made a comeback, but still only represents 12 per cent of mortgage balances outstanding.
Macquarie Bank has been gaining mortgage market share this year, though has made some amendments to lending policies for trusts and companies.
---
1. Download our property buying guide
Download our free property buying guide here.
You can also check out a few of our recent property purchases here.
Get in contact with us today if strategic property investment is your thing.
2. Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.
And our popular Low Rates High Returns Show also remains available on Spotify.
3. Subscribe for my free daily blog
Subscribe for my free daily blog with more than 4 million hits here.
You can also catch up with me daily on Twitter here, where I'm far too active daily and have over 15,400 followers.
By the way, I'm an 8-times published author on finance, investing, and business, so you can check out some of my books here.
My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - check out our free Buy Right podcast series here.
4. Work with me privately
For a limited time you can book in a free diagnosis call with me here, so book in a call today.
