Australia's housing market worsens with falls getting steeper

James Mayger / Bloomberg

Aug 03

Australia's housing market decline worsened, with prices declining in June and July by the most since December 2022 as rising interest rates and tax changes hit demand for homes. Australia's housing ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.itiger.com/news/2656372797"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2656372797\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2656372797?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-08-03 02:11","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2656372797","market":"hk","top_or_hot":-1,"title":"Australia's housing market worsens with falls getting steeper","media":"James Mayger / Bloomberg","content":"<div>\n<p>Australia's housing market decline worsened, with prices declining in June and July by the most since December 2022 as rising interest rates and tax changes hit demand for homes. Australia's housing ...</p>\n\n<a href=\"https://www.theedgesingapore.com/cityandcountry/residential/australias-housing-market-worsens-falls-getting-steeper?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australia's housing market worsens with falls getting steeper</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralia's housing market worsens with falls getting steeper\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-03 02:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/cityandcountry/residential/australias-housing-market-worsens-falls-getting-steeper?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>James Mayger / Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Australia's housing market decline worsened, with prices declining in June and July by the most since December 2022 as rising interest rates and tax changes hit demand for homes. Australia's housing ...</p>\n\n<a href=\"https://www.theedgesingapore.com/cityandcountry/residential/australias-housing-market-worsens-falls-getting-steeper?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UCC","symbol_name":"ProShares Ultra Consumer Discretionary","start_time":0,"source_url":"https://www.theedgesingapore.com/cityandcountry/residential/australias-housing-market-worsens-falls-getting-steeper?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2656372797","we_media_id":null,"thumbnails":[],"rights":{"source":"edge_highlight","url":"https://www.theedgesingapore.com/cityandcountry/residential/australias-housing-market-worsens-falls-getting-steeper?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2656372797","pubTimestamp":1785694265,"columns":[],"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"Australia's housing market decline worsened, with prices declining in June and July by the most since December 2022 as rising interest rates and tax changes hit demand for homes. ","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UCC":"ProShares Ultra Consumer Discretionary","VABS":"Virtus Newfleet ABS/MBS ETF","EFC-B":"Ellington Financial Inc."},"translate_title":"澳大利亚房地产市场恶化，跌幅加剧","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EFC-B":1.5,"VABS":1.5,"UCC":1.5},"content_text":"Australia's housing market decline worsened, with prices declining in June and July by the most since December 2022 as rising interest rates and tax changes hit demand for homes. Australia's housing market decline worsened, with prices declining in June and July by the most since December 2022 as rising interest rates and tax changes hit demand for homes. \nPrices across the country last month fell 0.7% from June, with a drop of 1.4% in Sydney leading declines in many major cities and also across regional areas, data from property consultancy Cotality showed Monday. June's decline was also worse than initially reported, revised down to a 0.7% fall from May.\n\nHome values have been slugged by a combination of rising interest rates, the government cutting tax breaks for investors, as well as the rising cost of living and the already heavy debt burden on households. The drop in prices may make it easier for some people to buy a place to live, though the data also showed rents are still rising, adding to the burden for others.\nThe downturn \"gathered momentum\" in July, according to the Cotality report, with the situation now worsening in mid-sized capitals after prices already started falling in Sydney and Melbourne. \"There remains a mismatch between the pricing expectations of buyers and sellers,\" said Cotality head of research Gerard Burg, who noted that less than half of homes put up for auction in capital cities are actually being sold.\nIn reaction to the tax changes in May and three interest rate hikes this year, fewer people are taking out home loans, according to banks, with the National Australia Bank last week reporting a 15% drop in mortgages in the second quarter. Despite that, the total amount of outstanding mortgage debt continued to grow in June, showing just how indebted Australians have become after years of taking out larger and larger loans to pay for houses, which have skyrocketed in price. \n\nThe value of outstanding home loans rose 7.5% in June from a year earlier, rising at the same pace as the preceding two months, according to data from the Reserve Bank of Australia last week. Borrowings by people for a residence was up more than 6%, while housing investors' debts climbed 10.4%, the quickest increase in more than a decade.\nHousing supply has undershot demand for years as the cost and time required to build a house has risen, with shortages of workers and rising costs of materials all adding to the difficulty of building new homes. The number of completed homes has been falling or flat for years, with little sign the government's promise to boost supply is actually having an effect. \nAbout 205,000 dwellings were approved to be built in the year that ended in June, according to official data released Thursday. There were more than 18,000 approved new homes in June, the data showed, although approvals are quite volatile and there's no guarantee that all these dwellings will actually be built.\n\"While this remains well short of the Housing Accord target of 240,000 per year, it marks a solid recovery from the mid2024 low of around 165,000,\" said Lucinda Jerogin, an economist at Commonwealth Bank of Australia. \"Higher interest rates remain a constraint on construction activity, while supplychain disruptions associated with the Middle East conflict and broader capacity constraints in the sector pose upside risks to construction costs.\"\nCharts: Bloomberg","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}