The surge in house prices during the pandemic is likely to be followed by a modest correction, if history is to be believed.
One in three Australians plans on renovating their home in the coming twelve months, to give it a fresh look and increase its value as reported by Architecture & Design.
Housing loans for investors struck a record high in January, as new figures showed the growth in Australian house prices was at its slowest pace since October 2020.
The Australian Bureau of Statistics said loans for housing rose 2.6 per cent in January to $33.7 billion.
Of these, owner-occupied mortgages rose one per cent to $22.7 billion, while investors home loans jumped 6.1 per cent to a record $11 billion.
Tips for investing in property
Advice for parents with adult kids living at home
Do you have adult children living with you? Thanks to housing affordability and stagnant wage growth, more kids are relying on Mum and Dad to keep a roof over their head well into their 20s and 30s. Get some advice on how to foster financial independence in your kids, so they’ll be ready to stand on their own two feet when they leave the nest at last.