Eliza Owen

speaker

379 appearances 2 recordings 1 series first heard Nov 2024 last heard May 2025

Eliza Owen’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: Has affordability finally hit home price growth? · 1 Nov 2024 podcast

But on the demand side, as you say, renters are doing it particularly tough at the moment.

Um, they tend to be lower income households in the rental market as well.

And so cost of living pressures have meant that renters simply cannot afford to keep increasing their rental payments.

And we're also seeing some suggestions of increased share housing, like the RBA reporting a slight uptick in average household size.

Um and our data is also showing stronger growth in rents in larger properties, suggesting that there's more demand for properties where you can share house and scale rental costs.

Well

So I mean the fastest growing housing stock is again in the lower quartile value of both the house and unit market.

For example, in Sydney, areas like Blacktown, Fairfield and Campbelltown are some of the fastest growing areas across the city.

And I think that's partly because they're areas where you can still in some pockets buy

a detached house for under a million dollars, which sounds crazy in terms of something that would be relatively affordable.

Um, but given that yeah, given the median uh house value in Sydney is now one point five million.

Um, it it is quite desirable, I think, for young people who want to own their own family home.

Um talking to developers, they're seeing more of a niche in the luxury apartment market because part of where demand has come from is the big increase in capital gain windfalls through the pandemic period.

So people who are downsizing, they're flushed with that capital growth.

growth.

They're not taxed on it.

And so they're looking for um, you know, a nice apartment to downsize into.

So apparently that segment of the development space is is going quite well too.

Yeah, to be honest, there's not much uh movement in that end of the market and the value performance, believe it or not, is quite weak at this point in the cycle.

So the top twenty five percent of house values in Sydney, which would be anything about two point two million and above, were down in value by half a percent uh over the past month.

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