May Market Update
The latest market update by Cotality (formerly CoreLogic) shows that house prices have risen in the month of May, adding 0.5% to the House Price Index, bringing the total return in the housing market to 1.7% in the first five months of 2025. According to head of research Eliza Owen, the rises have been driven by the cut in interest rates and expectations of further cuts.
Owen predicts that growth over the next 6 months will be on the lower end of the 6 to 10% range with soft wages growth and high prices still putting a lid on borrowing capacities.
What’s it worth?
With the interest rate cycle well and truly turning downwards, now is as good a time as any to find out the question on every home owners’ lips – ‘what’s it worth?’
Bartlett and Co. principal Tim Bartlett says that the second half of the year will benefit from interest rate cuts. “The cut in May was the second cut in this cycle and there are more expected towards the end of the year. This will increase serviceability for loans and potentially breathe some new life into the market.”
Tim says it is worth getting an appraisal so that vendors are ready to move into the selling phase when the new interest rate environment ramps up. Give Tim a call for an obligation free appraisal.
Who Wants to be a Millionaire?
New research by Cotality has revealed that 34 per cent of Australian homes are now worth $1 million or more. That’s a big increase from a decade ago when only 10 per cent of homes crossed the seven figure sum.
The rise reflects the 67 per cent increase in house values since April 2015. But the milestone has had a downside with Cotality Head of Research Eliza Owen telling ABC that declining home ownership rates and the average age of first buyers increasing.
“The rate of home ownership has gradually declined over time, particularly among younger, low-income households where income cannot keep pace with growth,” she said. “The average age of first home buyers has increased, and increasingly wealthy households are stuck renting for longer, which increases competition for low-income, renting households.”
Downsizing offers more than just a lifestyle shift — it can bring real financial rewards.
With the region’s growing number of apartment developments and coastal living appeal, many retirees are making the move to smaller, low-maintenance homes. Not only does downsizing free up equity, it may also reduce living costs, while also unlocking potential superannuation benefits. Eligible Australians aged 55 and over can contribute up to $300,000 from the sale of their home into their super, boosting retirement income and taking advantage of a tax-friendly environment.
Bartlett and Co. principal Tim Bartlett says, “For many in the Illawarra, downsizing means simplifying life while strengthening their financial future.”
Follow us on socials
Follow us on Facebook, Instagram and YouTube.
To keep up to date with the latest in real estate news and the more recent listings, make sure to like and follow.
You’ll be the first to know about new properties as they hit the market.
What’s it worth?
With the interest rate cycle well and truly turning downwards, now is as good a time as any to find out the question on every home owners’ lips – ‘what’s it worth?’
Bartlett and Co. principal Tim Bartlett says that the second half of the year will benefit from interest rate cuts. “The cut in May was the second cut in this cycle and there are more expected towards the end of the year. This will increase serviceability for loans and potentially breathe some new life into the market.”
Tim says it is worth getting an appraisal so that vendors are ready to move into the selling phase when the new interest rate environment ramps up. Give Tim a call for an obligation free appraisal.
Who Wants to be a Millionaire?
New research by Cotality has revealed that 34 per cent of Australian homes are now worth $1 million or more. That’s a big increase from a decade ago when only 10 per cent of homes crossed the seven figure sum.
The rise reflects the 67 per cent increase in house values since April 2015. But the milestone has had a downside with Cotality Head of Research Eliza Owen telling ABC that declining home ownership rates and the average age of first buyers increasing.
“The rate of home ownership has gradually declined over time, particularly among younger, low-income households where income cannot keep pace with growth,” she said. “The average age of first home buyers has increased, and increasingly wealthy households are stuck renting for longer, which increases competition for low-income, renting households.”
Downsizing trend set to take off
Downsizing offers more than just a lifestyle shift — it can bring real financial rewards.
With the region’s growing number of apartment developments and coastal living appeal, many retirees are making the move to smaller, low-maintenance homes. Not only does downsizing free up equity, it may also reduce living costs, while also unlocking potential superannuation benefits. Eligible Australians aged 55 and over can contribute up to $300,000 from the sale of their home into their super, boosting retirement income and taking advantage of a tax-friendly environment.
Bartlett and Co. principal Tim Bartlett says, “For many in the Illawarra, downsizing means simplifying life while strengthening their financial future.”
Follow us on socials
Follow us on Facebook, Instagram and YouTube.
To keep up to date with the latest in real estate news and the more recent listings, make sure to like and follow.
You’ll be the first to know about new properties as they hit the market.
