Money

$1.4m median house price in Sydney distancing Aussies and their first home dream

Published

4 years ago

July 30, 2021

William Howard

Despite the global pandemic and Australia being largely cut off from the rest of the world, house prices throughout the country are soaring

Boosted by all-time low-interest rates and a lack of available properties, six cities have seen record-high prices for the third quarter in a row.

Over the last 12 months, homes in Sydney, Canberra and Darwin have risen by 20 percent in value, as experts warn the market is quickly becoming “unsustainable”.

The Domain House Price Report says the country is experiencing the perfect mix between low-interest rates, a limited number of available properties, strong demand and large government stimulus in the wake of the Covid pandemic.

This report has certified the views of some economists who say the housing market is unsustainable and out of reach for many young Australians and first-time buyers.

“This is a very unusual rate of growth. Unusual circumstances create extraordinary outcomes,” chief of research and economics Nicola Powell said.

Sydney, Australia’s most populous city, saw median house prices reach a record A$1,410,133

Sydney house prices soared by almost $1,200 a day over the June quarter, a total rise of $107,000, to a new record $1.41 million.

Prices rose more than 8 per cent over the past two quarters, a rare growth only seen three times over the past 30 years.

When compared to this time last year prices have jumped 24 per cent, a record performance that has exceeded the boom time results of 2015 and 2002.

Related Topics:australia Featured House market property

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Money

Markets surge as Fed hints at July cut

Fed’s Waller hints at July rate cut, boosting investor sentiment; Trump imposes 50% tariff on Brazil, provoking minimal market response.

Published

13 hours ago

July 11, 2025

ticker NEWS

Fed’s Waller hints at July rate cut, boosting investor sentiment; Trump imposes 50% tariff on Brazil, provoking minimal market response.

Fed Governor Christopher Waller, tipped as a possible next Chair, signalled a July rate cut is on the table, calling current policy “too tight.” That’s been enough to supercharge investor sentiment.

Meanwhile, Trump has slapped a surprise 50% tariff on Brazil, sparking political tension. Brazil’s President responded with tough talk on “sovereignty,” but markets barely blinked, the Brazilian real dropped just 1%.

#StockMarket #FederalReserve #Bitcoin #AUD #TrumpTariffs #TickerNews

Money

Trump’s copper tariff shakes global markets

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

Published

2 days ago

July 10, 2025

ticker NEWS

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

President Donald Trump has unveiled plans to impose a 50% tariff on copper imports, a move set to rattle global supply chains and redraw the industrial map.

The tariff will hit within weeks, with Chile, the world’s largest copper exporter, expected to bear the brunt.

While Australia’s direct copper trade with the US is limited, analysts say the real message is strategic: the US is reinforcing its domestic manufacturing power.

#CopperTariff #DonaldTrump #TradeWar #GlobalMarkets #TickerNews

Money

RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

Published

3 days ago

July 8, 2025

Ahron Young

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.