Latest news with #CoreLogicInc
Bloomberg
30-04-2025
- Business
- Bloomberg
Australian House Prices Hit Record High Ahead of Saturday's Vote
Australian home prices climbed for a third straight month to a record high ahead of an election on Saturday, while defying rising uncertainty over the economic fallout from US-driven global trade turmoil. The Home Value Index advanced 0.2% in April, with every major city recording a rise, property consultancy Cotality, formerly CoreLogic Inc, said in a statement on Thursday. Darwin and Hobart were the biggest gainers, up 1.1% and 0.9% respectively, while the bellwether market of Sydney edged up 0.2%.
Bloomberg
02-03-2025
- Business
- Bloomberg
Australian House Prices Rebound in February, Spurred by Rate Cut
Australian house prices rebounded last month as buyers jumped into the market in anticipation of the first interest-rate cut in more than four years which the Reserve Bank then delivered two weeks ago. The Home Value Index for major cities advanced 0.3% in February after two months of declines, property consultancy CoreLogic Inc. said in a statement on Monday. Sydney and Melbourne, the nation's two largest markets, both recorded gains, as did all other cities except Darwin.
South China Morning Post
16-02-2025
- Business
- South China Morning Post
Australia slaps 2-year ban on foreigners buying existing homes as prices soar
Australia 's government will ban foreign investors from buying established houses for the next two years as part of an election pitch to tackle surging home prices. From April 1, foreign investors will be banned from buying established property until March 31, 2027, Housing Minister Clare O'Neil said in a statement on Sunday. The restriction will then be reviewed to determine whether it should be extended. O'Neil said in comments televised by the Australian Broadcasting Corp that the ban would likely free up around 1,800 properties per year for local buyers. 'These initiatives are a small but important part of our already big and broad housing agenda which is focused on boosting supply and helping more people into homes,' the minister's statement said. Australia's housing is some of the most unaffordable in the world and soaring property prices will be a key election issue amid a broader cost-of-living crisis, especially among young voters who fear they will never be able to buy a home. In Sydney, housing values have jumped almost 70 per cent over the past 10 years, with the median dwelling price now around A$1.2 million (US$762,000), according to property consultancy CoreLogic Inc. Rents have also been climbing.
Yahoo
16-02-2025
- Business
- Yahoo
Australia to Ban Foreigners From Buying Some Homes as Costs Soar
(Bloomberg) -- Australia's government will ban foreign investors from buying established houses for the next two years as part of an election pitch to tackle surging home prices. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt How to Build a Neurodiverse City SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May A Filmmaker's Surreal Journey Into His Own Private Winnipeg From April 1, foreign investors will be banned from buying established property until March 31, 2027, Housing Minister Clare O'Neil said in a statement Sunday. The restriction will then be reviewed to determine whether it should be extended. Australia's housing is some of the most unaffordable in the world and soaring property prices will be a key election issue amid a broader cost-of-living crisis, especially among young voters who fear they'll never be able to buy a home. In Sydney, housing values have jumped almost 70% over the past 10 years, with the median dwelling price now around A$1.2 million ($762,000), according to property consultancy CoreLogic Inc. Rents have also been climbing. Still, the ban is likely to have only a marginal effect on prices. Overseas investors bought A$4.9 billion of residential real estate — including vacant land, new and established dwellings — in the 12 months ended June 30, 2023, according to the Australian Taxation Office. Established dwellings accounted for about one third of the total. The tax office will be given extra funding to help enforce the ban, O'Neil said Sunday. The government's move to ban foreign purchases of established houses matches a pledge by opposition leader Peter Dutton made last year. An election must be held by May 17, and polls show it will be a close fight, with cost-of-living concerns and housing among the top three issues. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate The NBA Has Fallen Into an Efficiency Trap Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Silicon Valley Swung From Obama to Trump ©2025 Bloomberg L.P.
Yahoo
16-02-2025
- Business
- Yahoo
Australia to Ban Foreigners From Buying Some Homes as Costs Soar
(Bloomberg) -- Australia's government will ban foreign investors from buying established houses for the next two years as part of an election pitch to tackle surging home prices. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt How to Build a Neurodiverse City SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May A Filmmaker's Surreal Journey Into His Own Private Winnipeg From April 1, foreign investors will be banned from buying established property until March 31, 2027, Housing Minister Clare O'Neil said in a statement Sunday. The restriction will then be reviewed to determine whether it should be extended. Australia's housing is some of the most unaffordable in the world and soaring property prices will be a key election issue amid a broader cost-of-living crisis, especially among young voters who fear they'll never be able to buy a home. In Sydney, housing values have jumped almost 70% over the past 10 years, with the median dwelling price now around A$1.2 million ($762,000), according to property consultancy CoreLogic Inc. Rents have also been climbing. Still, the ban is likely to have only a marginal effect on prices. Overseas investors bought A$4.9 billion of residential real estate — including vacant land, new and established dwellings — in the 12 months ended June 30, 2023, according to the Australian Taxation Office. Established dwellings accounted for about one third of the total. The tax office will be given extra funding to help enforce the ban, O'Neil said Sunday. The government's move to ban foreign purchases of established houses matches a pledge by opposition leader Peter Dutton made last year. An election must be held by May 17, and polls show it will be a close fight, with cost-of-living concerns and housing among the top three issues. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate The NBA Has Fallen Into an Efficiency Trap Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Silicon Valley Swung From Obama to Trump ©2025 Bloomberg L.P.
