The Headlines: Australian House Prices Set for Speedy Recovery

House rich cash poor

New CoreLogic House Prices Report Says Recovery’s on the Way

House prices in Sydney are expected to start shooting up once again, according to the latest housing report from the analytics firm CoreLogic.

A 1.4% increase in the NSW capital was seen over the March period, four times higher than what was seen in the previous month and the fastest rate since October 2021.

Sydney isn’t the only market experiencing growth either, with numbers in the capital cities of Melbourne, Perth, and Brisbane all in the positive. Markets increased by 0.6%, 0.5%, and 0.1% over the past month in those metropolitan areas respectively.

CoreLogic house prices report screenshot showing the 28-day rolling average increases for each capital city.
Image: CoreLogic / Reddit

Overall, the value of the housing market increases in March rose by an average of 0.6%, the first average national increase the country has seen in almost a year.

CoreLogic’s research director, Tim Lawless, said that rising house prices were due to a mix of low housing stock, high rental demand, and increased immigration.

“The trend at the moment looks like the very steep downturn since the start of interest rate rises will be followed by a fairly rapid turnaround. So, it looks like we’re going to see a V-shaped recovery,” Lawless said.

Drake Samples Kim Kardashian in New Song

Kimye drama has been brought back to the surface after hip-hop legend Drake shared a preview of a new song, ‘Rescue Me’, featuring a vocal sample of Kim Kardashian. The song, about finding a woman to settle down with long-term, is thought to be a pointed dig at fellow rapper and ex-husband of Kardashian, Kanye West AKA Ye.

“I didn’t come this far just to come this far and not be happy, remember that,” Kardashian says in conversation with Kris Jenner.

The clip is taken from the 2021 series finale of Keeping Up With the Kardashians where the fashion icon talks to her mum about her divorce from West and moving on with her life.

Fans are expecting the clip will re-ignite the beef between Ye and Drake, who have been feuding for years and taking shots at each other on tracks. However, that beef appeared to quieten down in November 2021 after both men publically declared it over.

Now it looks like Drake is ready to restart the war as he teases a new album, expected later this year.


Elon Musk Calls the New York Times ‘Propaganda’, Removes Blue Tick

Twitter CEO Elon Musk has taken his own feud with the New York Times to the next level by describing the publication as “unreadable,” “diarrhea,” and “propaganda” after the legacy paper lost its blue tick on Twitter.

On Sunday, the blue verification badge next to the NYT‘s name on the site disappeared, despite their account having 55 million followers.

Musk has been engaged in a reshuffle of the popular social media platform ever since he took over as owner and CEO last year. The current controversy is an overhaul of the verification system, which Musk has demanded users now pay for.

Last month, Twitter announced that it would start phasing out legacy blue tick badges on April 1 unless those accounts pay the USD$8 subscription that was introduced in November. Multiple celebrities and high-profile accounts have been tweeting in protest at the changes, with many signing off from the platform for good.

The latest move from Musk is the next escalation in his campaign against journalists and media organisations who he views as critical of his actions. The NYT has frequently written articles critically investigating Musk’s business practices which appear to have enraged the some-time world’s richest man.

Related: Elon Musk Says He Will Quit As Twitter CEO — Is There a Grain of Salt Big Enough to Take This With?

Related: There Are 10 Mill Empty Homes in Australia — Would a Vacancy Tax Fix the Housing Crisis?

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