Monthly Archives: November 2011

We are in the midst of a construction boom

According to the Australian Bureau of Statistics we are in the midst of a construction boom. Total construction work done in Australia rose by a record 12.5 per cent in the September quarter. Construction work in chain volume terms, seasonally adjusted, was valued at $47.467 billion in the September quarter, compared with $42.191bn in the June quarter, the ABS said ...

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No joy from auction clearance at weekend

Auction clearance rates were down this weekend despite talk of consumer confidence returning. Auction figures released by Australian Property Monitors found clearance rates in Brisbane were down by 35.5 per cent over the weekend, with BrisbaneĀ  recording the lowest clearance rate of only 12.5 per cent. The story was much the same in Melbourne, with auction clearance rates declining by ...

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Consumers still wary of the property market

It seems that Australian property buyers are taking a break – there is certainly no rush to make a property purchase despite lower interest rates and lower property prices. According to a survey of potential property buyers by theĀ  Commonwealth Bank/MFAA Home Finance Index for September, only 16.9% of respondents are considering purchasing a property over the next 12 months. ...

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Housing oversupply may take some months to clear

With auction clearance rates down, and the number of property sales across the board also in significant decline, it may take as long as eight months to clear housing stock on the market today. RP Data’s Property Pulse has reported that housing stock is piling up, with 7.4 months of effective supply on the market. Research analyst Cameron Kusher said ...

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First Home Buyers are staging a comeback

According to statistics provided by the Loan Market Group, First home buyers are finally awake after a long period of hybernation. This segment of the home loan market has been the most active with the Loan Market Group during the month of October. For the first time in over two years the mortgage broker has had over 51 per cent ...

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