Australian Property Updates

Property Information & Real Estate Updates

Home Loans

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 ...

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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 ...

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Excessive stamp duty is crippling the Australian property market

The Real Estate Institute of Australia has today called on the government to abolish stamp duty on all Australian property transactions. Speaking at the national Tax Forum, REIA chief executive Amanda Lynch said the current level of stamp duty have had the effect of making housing unaffordable to most first home buyers as well as property investors. Stamp duty rates ...

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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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First Home Buyers will stage a comeback shortly

While over the past 12 months there has been little activity in the property and home loan markets from First Home Buyers, this is likely to change in the near future. Speaking to The Adviser, Century 21 chairman Charles Tarbey said first home buyers and first time upgraders will dominate the market during the traditionally hot spring selling season. Significant ...

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