Monthly Archives: July 2011

Home affordability problem will remain for at least a decade

Home affordability in Australia has progressively declined over the past decade.  Home prices today are “severely unaffordable”, and it will take 10 years of flat-lined prices to rectify this situation. The AMP.NATSEM Income and Wealth Report has found that over the past decade median house prices increased  by approximately 147% , while after-tax incomes went up by only 50%. Although ...

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Gen Ys prefer investment over home ownership

A new survey of Gen Ys has identified that while majority are happy with property as an investment tool, fewer are considering home ownership. The Mortgage Choice First Time Property Investors Survey has found 43% of Gen Y respondents will put off buying a home for themselves to purchase an investment property. There are a number of reasons behind this ...

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Auction clearance inproves

Despite gloomy weather, the Sydney property market was going hot this weekend with clearance rates hitting figures not seen for over 10 months. Property buyers ignored Saturday’s rain, spending $117.7 million on 148 properties across the city, pushing up the clearance rate to 63.5 per cent from 52.6 per cent the week before. This was the highest auction clearance rate ...

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Refund Home Loans opens real-estate office

Refund Home Loans has decided to enter the real estate market, with the opening of  its first real estate office in South Brisbane due shortly. Executive chairman of the Refund Group, Wayne Ormond, has voiced the groups intention to open a network of real estate offices across all states over the next few years. Just like Refund Home Loans, Mr ...

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Property Investors will benefit from rising rents

Current rental income growth is well below the rate of inflation, but this may well change in the short term. As new research from RP Data shows, capital city rents over the past year have only increased by just 2.7%, while Australia’s latest annual inflation rate is 3.3 per cent. RP Data found Brisbane’s median rent for houses is only$370 ...

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