The weekly round-up of the biggest news stories from across Momentum Media’s property brands from the week ending 7 August.
To compile this list, not only do we consider the week’s most-read stories and the news that matter most to you, but we also curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
Majors forecast sharper-than-expected housing downturn
The major banks have now flagged larger-than-expected house price falls as senior government ministers emphasise opportunities for first home buyers.
More Australians abandon home ownership plans
Just 13 per cent of prospective first home buyers expect to purchase within the next 12 months, continuing the downward trend of prospective home buyers.
Mortgage demand dives as hardship climbs
Borrowing appetite has cooled significantly after recent rate hikes and tax changes, with stress indicators edging higher.
Housing approvals lift, yet Accord shortfall deepens
Building approvals have shown a significant rebound in new homes, but industry bodies have warned that the pipeline still trails national housing targets.
Government opens consultation on property tax shake-up
The government has opened its consultation phase on negative gearing and capital gains tax reforms in a bid to lock in all the legislation’s details before it comes into effect on 1 July 2027.
Further declines ahead as major capitals predicted to fall 10% from peak
The downturn is only just beginning in the major capitals amid predictions of further steep declines for Melbourne and Sydney, while the rest of the nation also loses momentum.
Downturn: Premium properties to bear the brunt
The national downturn has spread to the premium property space, with dwellings seeing larger value declines than cost-effective homes as market momentum continues to rapidly decline.
Older home owners postpone downsizing as market softens
One in three older home owners is delaying downsizing as Australia’s property market softens, with many exploring other ways to unlock equity, new data has revealed.
[Related: Hot Property: The biggest property headlines from the week 20–24 July]
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