Monthly Archives: October 2011

Auction clearance rates still extremely low

This weekend Auction clearance rates for residential properties in both Sydney and Melbourne was way below expectations. Potential purchasers are clearly staying away, waiting for possible a rate cut resulting in the availability of cheaper home loans, or perhaps their confidence has simply been shattered by a recent spate of economic disasters both locally and overseas. According to the latest ...

Read More »

Ten percent of Aussies under housing stress

A housing lobby group claims that more than ten percent of Australian households are suffering from housing stress. Australians for Affordable Housing commissioned the National Centre for Social and Economic Modelling (NATSEM) to produce a report which found more than 850,000 households in Australia, both home owners and renters,are living with financial hardship due to the high cost of housing. ...

Read More »

Auction clearances unseasonally low

In a sign that the real estate market is extremely subdued, auction clearance rates around the country are staying around 60 per cent in Sydney and Melbourne, despite the fact that spring is historically the best time to sell your property. According to the latest data from Australian Property Monitors, only 56.3 per cent of properties listed for auction in ...

Read More »

Annual value of residential property transactions at decade low

The total value of homes bought and sold during the 2010/11 year represents the largest annual fall in more than a decade. Recent RP Data figures show the value of residential property sales for the last financial year declined nationally by 18.2%. RP Data analyst Cameron Kusher said the total value of dwelling transactions was the lowest over a financial ...

Read More »

NSW unit market favoured by First Home Buyers

First home buyers seem to love the New South Wales property market. Now that prices have leveled out, many are looking to take advantage of the soon to expire stamp duty concessions and finally make their purchase. In NSW, first home buyers currently receive a stamp duty exemption for home purchases under $500,000, with discounts calculated on a sliding scale ...

Read More »