Approvals for new apartments have fallen to a seven-year low, down by 9.7%, as developers hold back applications for new developments at a time of high profile cladding and defect problems.
There are early signs the housing market may be recovering, with small price rises in Sydney and Melbourne – where house prices have dropped the most in recent years.
A new Grattan Insitute report, “Generation Gap: Ensuring a fair go for younger Australians” reveals younger generations are in danger of being the first generation to have lower living standards than their parents’ generation.
The Reserve Bank has continued to shake up the status-quo, cutting the official cash rate by 25 basis points for the second consecutive month in a bid to stimulate the economy.
More than half a million home owners across Australia are sitting on ‘pots of gold’ and could be increasing the value of their property by up to as much as 30%, new research shows.