Should you buy or rent property in 2024? lolita, 05/07/2025 When Satyen Joshi moved to Mumbai from Bengaluru five years back, little did he know that he would have to pay more than ₹50,000 per month as rent. He is now contemplating buying a property in the suburbs for around ₹2 crores. He has taken this decision at age 40 because he has the funds to pay up and may not have to take a huge loan for the property. A homebuyer should go ahead and purchase a property if he has funds available to make a sizeable down payment. (Pixabay) Despite an increase in home loan interest rates and rising housing prices, the overall sentiment in the domestic residential market remains positive on the back of robust demand with as many as 2.6 lakh housing units expected to be sold by the end of 2023, the highest number since 2008. The growth momentum is likely to continue in 2024 with sales likely to touch around 3 lakh units, a report by JLL’2023: A Year in Review’ had said. Also Read: Year Ender 2023: Housing sales likely to touch 2.6 lakh units by end of 2023; Luxury housing sales rise by 83% The report also notes that the … Continue Reading
Renters would now be financially better off buying one-third of the places they rent lolita, 04/04/2025 Renters in many major capital cities would now be financially better off buying the apartment or unit that they live in, according to new analysis that further highlights the ongoing rental affordability crunch for lower-income households. The data from private analytics company PropTrack compares the estimated cost of renting a property for 10 years versus purchasing one with a 20 per cent deposit, adding in stamp duty and rates. Early last year, it was found about one-quarter of properties nationally were cheaper to buy than rent. This has now risen to a third. This trend is much more acute when you split out apartments or units. Housing analytics firm PropTrack released this data on November 28, 2023.(Supplied: PropTrack) PropTrack economist Paul Ryan says this trend is emerging not because buying is getting cheaper but because rents keep going up rapidly, especially at the “bottom end” of the market dominated by students, young people and those on lower incomes. “We’ve seen rent growth on units increase quite substantially,” he adds. Housing market analysts say there are many reasons behind the continuing rental crunch, including the resurgence of migration, unwinding trends after the pandemic and a slowdown in new … Continue Reading
Property prices stabilizing after another boom, with rents still going up, especially on apartments lolita, 24/03/2025 The property market appears to be stabilizing in key regions after the latest boom, according to the latest monthly figures, with analysts forecasting that prices will not keep rising as quickly next year. Key points: Melbourne and Hobart home prices dropped 0.1 per cent in November Perth (+1.9 per cent), Brisbane (+1.3 per cent) and Adelaide (+1.2 per cent) had the biggest monthly city increases Homes at the lower to mid-range price points are now performing better than the top end The median national property price is now at a record high of $753,654, according to CoreLogic, although it is much higher in Sydney at more than $1.2 million. Key markets Sydney and Melbourne were fairly flat over the past month, but prices were still rising strongly in Brisbane, Adelaide and Perth. “They’re continuing to see housing values rocketing along,” CoreLogic’s chief economist Tim Lawless says. “Below the surface there’s a lot of diversity here.” CoreLogic’s figures for November show a patchwork of results across the country.(Supplied: CoreLogic) Interest rates have been rising since May last year, with some economists tipping another rate rise in February. Mr Lawless says property value growth is slowing as buyers at … Continue Reading