Blog - Burnham Real Estate

Real Estate Prices Buying a home Real Estate Agents

Apr 15, 2024

March Quarter 2024 Median Prices

What Are The Value of Homes in My Suburbs? Click Here to view this FREE information.

Real Estate Prices Buying a home Real Estate Agents

Mar 14, 2024

Price Guide - Melbourne December 2023

Curious of Melbourne House Prices? Suburb by Suburb prices available here.

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Feb 16, 2024

The Most Affordable & Expensive Pockets in Footscray

Click on the Interactive Suburbs Map to find the priciest and most affordable pocket in your suburb. A new analysis of the price differences within suburbs shows that a typical home buyer could save about $365,000 by searching in the most affordable pockets instead of the priciest areas. But in particularly exclusive enclaves, buyers pay a multi-million dollar premium to secure the best real estate in town, with the data highlighting just how much home values can vary in certain suburbs. The PropTrack analysis of home values by SA1 regions — small neighbourhoods made up of a handful of streets and typically home to a few hundred residents — has revealed each suburb's most affluent area, as well as where homebuyers might find pockets of affordability. Source: Realestate.com.au

Real Estate Prices

Feb 7, 2024

Statement by the Reserve Bank Board: Monetary Policy Decision

Media Release / Date 6 February 2024 At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent. Inflation continues to moderate but remains high. Inflation continued to ease in the December quarter. Despite this progress, inflation remains high at 4.1 per cent. Goods price inflation was lower than the RBA’s November forecasts. It has continued to ease, reflecting the resolution of earlier global supply chain disruptions and a moderation in domestic demand for goods. Services price inflation, however, declined at a more gradual pace in line with the RBA’s earlier forecasts and remains high. This is consistent with continuing excess demand in the economy and strong domestic cost pressures, both for labour and non-labour inputs. Higher interest rates are working to establish a more sustainable balance between aggregate demand and supply in the economy. Accordingly, conditions in the labour market continue to ease gradually, although they remain tighter than is consistent with sustained full employment and inflation at target. Wages growth has picked up but is not expected to increase much further and remains consistent with the inflation target, on the assumption that productivity growth increases to around its long-run average. Inflation is still weighing on people’s real incomes and household consumption growth is weak, as is dwelling investment. The outlook is still highly uncertain. While there are encouraging signs, the economic outlook is uncertain and the Board remains highly attentive to inflation risks. The central forecasts are for inflation to return to the target range of 2–3 per cent in 2025, and to the midpoint in 2026. Services price inflation is expected to decline gradually as demand moderates and growth in labour and non-labour costs eases. Employment is expected to continue to grow moderately and the unemployment rate and the broader underutilisation rate are expected to increase a bit further. While there have been favourable signs on goods price inflation abroad, services price inflation has remained persistent and the same could occur in Australia. There also remains a high level of uncertainty around the outlook for the Chinese economy and the implications of the conflicts in Ukraine and the Middle East. Domestically, there are uncertainties regarding the lags in the effect of monetary policy and how firms’ pricing decisions and wages will respond to the slower growth in the economy at a time of excess demand, and while the labour market remains tight. The outlook for household consumption also remains uncertain. Returning inflation to target is the priority. Returning inflation to target within a reasonable timeframe remains the Board’s highest priority. This is consistent with the RBA’s mandate for price stability and full employment. The Board needs to be confident that inflation is moving sustainably towards the target range. To date, medium-term inflation expectations have been consistent with the inflation target and it is important that this remains the case. While recent data indicate that inflation is easing, it remains high. The Board expects that it will be some time yet before inflation is sustainably in the target range. The path of interest rates that will best ensure that inflation returns to target in a reasonable timeframe will depend upon the data and the evolving assessment of risks, and a further increase in interest rates cannot be ruled out. The Board will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that outcome. Source - Reserve Bank of Australia

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Sep 1, 2023

Australia's most tightly held suburbs: Where people buy and never want to leave

Homeowners are holding onto properties for longer than ever, with new research revealing the suburbs where people buy and stay put for decades. With owners retaining properties for longer, options have become increasingly limited for buyers hoping to get a foothold in suburbs so desirable that people rarely sell. Click here to read further and find out how tightly held your suburb is.