Australian Property Updates


Property Information & Real Estate Updates

.NSW

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 ...

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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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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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Sydney judged to be 7th most expensive city in the world

A recent survey by USB has identified Sydney as number seven in the list of the world’s most expensive cities in the world . The strong Australian dollar has undoubtedly contributed to Sydney coming in ahead of many other larger cities such as London and New York. Two years previously Sydney was a lot lower on the same list – ...

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