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Could a rate hold cause a surge in house prices? + Packer's $100m project puts comfort before luxury

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6 months ago

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EmailThis is what's moving in property this week.

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NEWS

1

Housing prices to surge as ‘no rate hike’ makes buyers less reserved

Property prices are tipped to rise at a faster pace nationally in the coming months following Wednesday’s CPI data as Brisbane’s record run of price growth could be nearing the end.

2

Southeast Queensland land prices jump as buyers vie for stock

New data shows the average price of a block of land in the region was up 11 per cent in the three month, as buyers adapt to higher interest rates and competition heats up for limited stock.

3

Builders call for more migrants to meet new homes target

Master Builders Australia is calling for the establishment of a new dedicated building and construction visa pathway to help address the housing crisis and build 1.2 million new homes.

4

Property investors in race for the exit

Investors are exiting Victoria’s already tight rental market, with landlords struggling to keep up with rising costs from new tenant-friendly laws and higher taxes.

5

Starter’s gun fired for work on athletes’ village

Work on the athlete village for the Brisbane 2032 Games will begin this month with Premier Steven Miles pledging to feed Olympians steak following criticism of vegan-heavy menu offered in Paris.

MARKET MOVERS

$100m harbour view unit project approved for Manly

Backed by James Packer, developer Tim Price has secured approval for his five-storey apartment project where units will start from $2.5m.

Three SA islands hit the market for first time in 100 years

Fancy owning your own island? Well here’s a chance to pick up not only one, but three islands for sale in a South Australian wildlife haven.

Turning wine bottles into trendy tiles scores start-up millions

A Nowra firm that recycles glass into high-end tiles has attracted $7.75m from a big name backer as it looks to enter the benchtop market and expand manufacturing.

Tower Power: stake in Sydney’s tallest building up for grabs

The market for top-end office skyscrapers is about to be tested, with Japanese company Mitsubishi Estate Asia looking to sell its stake in the $2bn Salesforce Tower.

✣ PRESTIGE PROPERTY

Overseas interest in prestige homes back on the rise

Asian buyers, who are a key part of the top-end housing market in Melbourne and Sydney, are quietly making a return.

Escape to the country

Fancy a luxe weekender? This five-bedder with a tennis court and pool, set on 8.5ha in Victoria’s High Country, is priced $2.3-2.4 million.

Small market but Perth leads in auction clearance

Perth uncharacteristically secured the nation’s highest weekend auction success rate at 88.9 per cent, highlighting its residential property market’s ongoing recovery.

COMMERCIAL PROPERTY

Universal Hotels buys Sydney’s Evening Star

Adelaide tower sold to prominent developer for record price

Centuria rides AI wave with move on Reset Data

German group secures new Sydney office with view

NEWSLETTERS TODAY'S PAPER MIND GAMES THE AUSTRALIAN PLUS

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