This year, in the Economist Intelligence Unit’s ranking of the world’s most liveable cities, Australia and New Zealand take six of the top-10 spots. Auckland took the top spot, thanks to New Zealand’s rapid response to COVID-19, allowing life to return to normal sooner than the rest of the world. House prices in Auckland leapt about NZ$140,000 (US$131,000) on average in 2020. Meanwhile, Wellington took the fourth spot and Australia's four major cities - Adelaide, Perth, Melbourne, and Brisbane - made it to the top-10 ranking.
Indeed, the demand for new homes across Australia increased by 15.3 per cent driven by owner-occupiers. Despite this strong demand, data from The Weekly Property Pulse showed that buying cost less than renting at 36.2 per cent of properties across the country, up from 33.9 per cent last year. Elsewhere in Singapore, according to a Knight Frank report, data for the second quarter of this year saw a total of $5 billion worth of investment deals transacted by both retail and institutional investors, a significant 127.3% jump year-on-year in the same period, showing further an improved outlook in real estate investment.
What caught our eyes this week?
Why the Most Liveable Cities are in Australia, New Zealand
The pandemic’s influence on quality of life has pushed cities in Australia and New Zealand to take six of the top-10 spots in a coveted annual ranking. Auckland took the first position in the Economist Intelligence Unit’s ranking of the world’s most liveable cities in 2021. Adelaide (3rd), Wellington (4th), Perth (6th), Melbourne (8th) and Brisbane (10th) also made the top 10.
U.S. Homeowners Have Another Chance to Refinance as Mortgage Rates Fall Again
Homeowners who missed out on the lowest average interest rate on a 30-year fixed rate mortgage earlier this year may have another chance. The average interest rate on a 30-year fixed-rate mortgage fell to 2.88%, and the 15-year fixed-rate mortgage dropped to 2.22%. The downward slide could pull some weary buyers back into the market with low rates.
Third of Australian Homes Cheaper to Buy than Rent
Homes across Australia are generally cheaper to buy than rent. The Weekly Property Pulse showed buying cost less than renting at 36.2 per cent of properties across the country, up from 33.9 per cent last year. The report comes as demand for new homes increased by 15.3 per cent driven by owner-occupiers while rent went up in places experiencing strong domestic migration.
Property Investment Jumps 127% Year-On-Year in 2Q2021
Real estate investment sales in Singapore in 2Q2021 improved on the back of strong land sales and a rebound in demand from retail and institutional investors, according to a Knight Frank report. The quarter saw a total of $5.0 billion worth of investment deals, a 127.3 per cent year-on-year increase compared to the $2.2 billion recorded in the same period last year.
Read also: Understanding Investment Properties
Transitory Inflation is Just Part of the Covid-19 Recovery
Inflation is a buzzword these days. Headlines about it are everywhere and there are questions about it left and right. It is probably the first time in a decade that the topic is discussed in a serious way. The attention makes sense though since recent CPI numbers have been above expectations, which were already elevated as much of the world come out of the Covid-19 lull.
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