House Prices

Sea-change and tree-change hotspots are high on the list, along with affordable outer suburbs offering space to work from home and an option for first-home buyers.

For those people who were brave – or smart – enough to buy last year, they’re reaping the rewards big time now, selling again and pocketing hundreds of thousands of dollars profit without having lifted a finger.

NIMBYism is the cause of the housing crisis, driving planning restrictions that block new housing construction and worsen housing affordability, a report says.

Barely touched since it was built in 1969, the time capsule sold to renovation enthusiasts for a whopping $507,000 above the point when it was declared on the market.

A four-bedroom house in Narrabundah has a date with a wrecking ball after it sold under the virtual hammer on Saturday for $1,115,000.

Kay & Burton has been slapped with a $9913 fine for underquoting a fixer-upper that sold for $5.8 million at auction in March – $1.4 million above the top of the asking price range.

Home sales this year have hit the highest number since 2004 with a buying frenzy fuelled by rock-bottom mortgage rates, a loosening of credit policies, government incentives and record COVID-19 savings.

A flood of buyers and sellers are expected to hit Melbourne’s real estate market this weekend following the news in-person inspections can now go ahead.

The units accrued interest from as far as Dubai and London with local first-home buyers, investors and executives from Brisbane to Sydney and Melbourne all vying for a rich slice of the historic pie.

While some markets have shown signs of softening demand, the latest lockdowns might have a counterintuitive effect on the outlook for property, new research suggests.