Latest news with #propertyMarket
Reuters
2 days ago
- Business
- Reuters
Rate cut expectations boost Australia home prices in May
SYDNEY, June 2 (Reuters) - Australia's house prices rose for the fourth straight month in May as expectations of more interest rate cuts boosted buyer sentiment, with every state capital posting a rise in prices. Figures from Cotality, formerly CoreLogic, showed national prices rose 0.5% in May from April, compared with a 0.3% gain the previous month. Annual growth in national prices was 3.3%. "The continued momentum we're seeing across almost all markets is no doubt being fuelled by rate cuts - both those that have already happened, but also potential cuts in the coming months," Cotality Research Director Tim Lawless said. Those cuts could boost sentiment in June and through the rest of the year with home prices expected to post "a modest rise" this year, though at slower pace recorded in 2024, Lawless said in a statement. The Reserve Bank of Australia cut interest rates to a two-year low last month as cooling inflation at home offered scope to counter rising global trade risks, and left the door open to further easing in the months ahead. Strong immigration and tight supply has helped Australia's property market to end a year-long slide much earlier than the expectations of many experts.
ABC News
2 days ago
- Business
- ABC News
Australia's house prices continue to rise
The latest data from property research firm Cotality shows house prices have continued to rise across the country amid interest rate cuts.
Bloomberg
3 days ago
- Business
- Bloomberg
Australian House Prices Continue to Climb After RBA Rate Cut
Australian home prices climbed for a fourth straight month, driven by a second interest rate cut by the country's central bank and expectations more will follow later this year. The Home Value Index advanced 0.5% in May, with every major city recording a rise, property consultancy Cotality, formerly CoreLogic Inc, said in a statement on Monday. Darwin was the top gainer, climbing 1.6%, followed by Perth which rose 0.7%. The bellwether market of Sydney was up 0.5% and Melbourne increased 0.4%.
Daily Mail
3 days ago
- Business
- Daily Mail
Selling your home? Don't forget to stage your GARDEN: From a neat trick with paint to whether metal or wood is better, how to add value for less
If you're poised to put your home on the market, you're likely to have given it a declutter and deep clean, as well as refreshed any tired paintwork. But you may not have given the garden as much attention as you should –which experts say is a big mistake.
Arabian Business
3 days ago
- Business
- Arabian Business
Dubai real estate market stabilising; investors confident in long-term growth
The Dubai real estate market is entering a healthy 'stabilisation phase' and investors are confident in long-term projects, according to brokerage and developer Asico. Following a period of remarkable growth where residential property prices surged by approximately 60 per cent between 2022 and early 2025, driven by strong international investor interest, the market is now entering a phase of stabilisation in 2025, said Asico. This transition indicates a move towards a more balanced and sustainable trajectory. Dubai real estate stabilisation phase Several key indicators point towards this stabilisation: Price adjustments: As of January 2025, the average price per square foot stood at AED1,484 ($404), reflecting a slight 0.57 per cent month-on-month dip, indicating a cooling from the rapid escalation witnessed in previous years Shift in demand: While luxury properties continue to attract interest, there's a noticeable shift towards mid-market and affordable housing. In 2024, two out of five ready home sales were valued at less than AED1m ($272,000), highlighting a broader market appeal and a move towards more sustainable growth Supply dynamics: Developers are responding to the evolving market by accelerating construction schedules, aiming to bring handovers forward by three to six months. This proactive approach is designed to meet the current demand and prevent potential shortages, contributing to market equilibrium Wail Abualhamail, Director of Real Estate at Asico, said: 'The current phase of stabilisation reflects the natural progression of a maturing market. We are seeing a shift from speculative buying towards more strategic, long-term investments. At Asico, we believe this evolution is a healthy sign, indicating investor confidence, improved regulation, and a more sustainable future for Dubai's real estate sector.' Despite the stabilisation, Dubai's real estate market continues to exhibit robust performance. In February 2025, the market recorded a 32 per cent increase in transaction volume and a 37 per cent rise in value compared to the same period in 2024, totalling more than AED50bn ($13.6bn). The off-plan market remains a significant driver of this activity, with a 38 per cent increase in volume and a 60 per cent increase in value year-over-year. Key areas such as Dubai Creek Harbour, Mohammed Bin Rashid City, and Dubai Hills have been particularly popular for off-plan investments. The Dubai government's ongoing strategic initiatives are also playing a crucial role in bolstering the real estate sector. The Dubai Economic Agenda (D33), which aims to double the emirate's economy by 2033, specifically focuses on enhancing the contribution of the real estate sector. Furthermore, policies such as the Golden Visa programme and the provision for 100 per cent foreign ownership in certain sectors have further strengthened investor confidence in the market. Asico said: 'As the market enters this phase of stabilisation, investors are presented with opportunities to make informed decisions in a more predictable environment'. The increasing focus on mid-market properties opens avenues for a broader range of investments, while the sustained overall demand underscores the market's long-term strength. According to Asico, this stabilisation period signifies a maturing of Dubai's property sector, where factors such as quality, thoughtful planning, and strategic location are expected to be the primary drivers of long-term returns, moving away from reliance on short-term speculation.
