Daily Buzz: Saturday, 10 August
By
PropertyBuzz, your daily dose of property news.
One in five Australians have lived with an ex to save money on housing, Perth Unit Prices hit decade-high, and auction volumes get ready for Spring.
Welcome to Property Buzz! I’m Grace Ormsby.
Today is Saturday, 10 August.
– Many Australians are now choosing to live with an ex-partner due to high housing costs, according to a survey by Finder.
– 17 per cent of those surveyed said they had remained living with a partner post-breakup for affordability reasons.
– The trend is more prevalent among Gen Z and women, with 33 per cent of Gen Z and 19 per cent of women having lived with an ex.
– Finder’s head of consumer research is urging Aussies to build an emergency fund for potential separations so they don’t have to deal with potentially tricky situations – reminding people that moving out doesn’t affect one’s legal rights.
And Perth’s median unit sale price rose 2.2 per cent in July 2024, matching the 2014 peak, due to increased demand for affordable housing near the CBD.
– New unit listings and sales in 2023-24 were higher than the five-year average, with units selling in a median of nine days.
– Despite rising median unit rent, REIWA said the market has reached an affordability ceiling, with tenants seeking more affordable properties or sharing costs.
And looking to auction expectations for the weekend, and volumes are set to rise.
– Melbourne and Sydney are both set to see increased activity, while the smaller capitals show mixed trends.
Brisbane’s and Adelaide’s auction volumes remain steady, while Canberra and Perth are expected to see a decrease in auction activity.
– CoreLogic is predicting a further increase in the number of homes going under the hammer next week, with figures already upwards of 2,000 homes slated in for auction. Â
That’s Property Buzz for today.
See you again tomorrow, 11 August, for your daily dose of Property Buzz.
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