An urgent danger to life warning has been issued as floodwaters submerge the city of Lismore on the northern NSW coast on Monday and more rain expected for Tuesday..
Australian home price growth is set to slow down in late 2021 following double-digit percentage surges since the worst of the Covid downturn.
National property values climbed by 1.8 per cent in April, a sharp comedown from March s 2.8 per cent pace which was the fastest since October 1988.
Since the short-lived Covid downturn in property prices ended in September last year, house and apartment prices have soared by 10.2 per cent.
Last month, property prices hit record highs in 63 of Australia s 88 real estate sub markets with prices falling in just four localised regions nationally, CoreLogic data showed.
CoreLogic s research director Tim Lawless said property values were likely to slow in coming months as the number of potential buyers thinned out at the record price levels.
A city that is much more affordable than Sydney or Melbourne is tipped to conservatively enjoy 20 per cent house price growth during the next two years.
In Brisbane, $1million buys a very nice house, including a renovated Queenslander, near the city instead of an ordinary brick veneer home in western Sydney more than 30km from the central business district.
In the Queensland capital, $650,000 is still enough for a modest home near the CBD.
During the past year, six suburbs in Brisbane saw mid-point house prices climb into the seven figures, with values soaring by more than $250,000 in one year or by close to a third.