Australian Property Updates


Property Information & Real Estate Updates

Property Development

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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Banks hold worries over viability of development loans

According to reports in the media, at least one of the big four banks is showing hesitation to provide property development loans both residential and commercial, given the perceived risks in many projects. The Australian reports that according to documents they were able to access at least 61 projects across Australia have been tagged as having retail or commercial areas ...

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Australian Property market – uncertain future…

A downturn in Australia’s property market will only contribute to concerns of a two-speed economy in the resource-rich nation. Mining profits are bursting at the seams due to heavy demand from China and other fast-growing Asian countries, while consumer businesses and manufacturing have gone into hiding from concerns about the prospect of growing rates, the high value Australian dollar, trading ...

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Building approvals are down and house prices keep falling

According to statistics from HIA, new home sales have seen their biggest monthly decline in five years, whereas home prices overall are continuing to come down. First Home buyers who were previously very active in the purchase of new homes are deserting the market, with investors being the main purchasers of housing today. The new lending rules introduced through the ...

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Carbon tax will add to costs of construction

The introduction of Carbon Tax is expected to add $5,000 to the average cost of building a home due to the tax impact on building materials. According to the Australian, energy efficient homes will be costing more as the Carbon tax will also affect the price of double-glazing as well as insulation materials. The Master Builders Association expects at least ...

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