Not much to say today – the charts and tables speak for themselves. Sydney and Melbourne dominate, with Hobart having a bit of a dash, but from a low base.
So, we seem to want Australia’s housing to be more affordable. Really? Well, there is only one way that this can be achieved. The price has to drop – and in some places, sharpish.
Over 5,000 house sales are expected during 2017 – twice the volume five years ago. The number of properties listed for sale continues to decline.
Today, our chart shows the number of dwellings approved, but not yet started. It is one of those property charts where, if the lines go down, it is a good thing.
The boring stuff first. The Queensland Government released ShapingSEQ – the draft South East Queensland Regional Plan – for public consultation late last year.
They say it helps if you can tell the time. So, because we like to be helpful, here is what time it is when it comes to Detached Houses.
As we noted yesterday, over the short-term at least, things are looking okay for the housing market in Australia.
The tea leaves suggest that dwelling prices should continue to appreciate over the short-term. Here, I am talking about the next six, to maybe, twelve months.
When looking at population action, it appears that it is all now happening in Victoria and New South Wales. Last year, Victoria attracted 36% of Australia’s population growth.
Next week is a busy one for the RBA. It is only one of five weeks in the year that they release three things in a single week. Not bad work if you can get it.