Australian Property Updates


Property Information & Real Estate Updates

Finance

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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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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Housing affordability is yet to be addressed

According to a report by a housing action group, an average Sydney-sider needs to spend more than 8 years worth of salary to purchase a home in Sydney. This represents an increase from 5 years of salary in 2001. This is still a problem despite the fact that most states have seen a drop in property prices over the past ...

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