Flood-affected properties in New Zealand are increasing in value faster than undamaged ones, as buyers prioritize affordability despite rising weather risks. Data from Cotality indicates these homes trade at an initial discount but show stronger growth, particularly in regions like Auckland and Hawke's Bay.
House prices are falling in Sydney, Melbourne, Adelaide, and Canberra. Sydney and Melbourne saw their largest monthly declines since August 2022, with Sydney values down $48,000 year-to-date. This slowdown is attributed to rising interest rates and reduced investor borrowing capacity.
Auction clearance rates in Australia's capital cities have dropped to a six-year low, with less than half of homes selling at auction. Experts cite weaker selling conditions and high interest rates, while political debate intensifies over housing affordability and tax reforms.
Australian house prices stagnated last month, with Sydney and Melbourne seeing price drops. This shift, driven by interest rate hikes, contrasts with the public and political view of housing as an investment rather than a basic need, hindering affordability efforts.
