Australian Property Updates

Property Information & Real Estate Updates


Agents required to disclose the history of the property

Agents are required to disclose the history of the property, even if a murder took place in a house they are selling. The Australian Competition and Consumer Commission this month gained power to fine agents up to $1.1 million for misleading their clients. Under the new laws, if properties such as the Glen Iris townhouse where Margaret Wales-King and her ...

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Investors are the only source of growth in property market

INVESTORS are the only source of growth in the housing market, and rising stocks of unsold houses suggest the outlook for house prices is souring. The level of demand for housing by owner-occupiers remains weak, with the number of new mortgages taken out in May dropping by 0.7 per cent and now 26.9 per cent below the peak reached last ...

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Government Transport Plan devastates 200 homes in Melbourne

Victorian Government announced the updated Victorian $12 billion Transport Plan. The plan includes a metropolitan train tunnel as well as a regional rail link, road tunnel and truck action plan for the gridlocked western suburbs. Shocked residents in areas of Melbourne’s west were left to guessing whether their homes would be snatched in the State Government’s transport blueprint. While the ...

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More home loans taken out by owner-occupiers

THE number of home loans for owner occupied housing rose for the first time in eight months in May, official figures show. While the headline figure masks a slowing economy, it could mean borrowers will be spared another rate rise until the end of the year, economists say. Australian housing finance commitments for owner-occupied housing rose 1.9 per cent in ...

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Holding interest rates the right decision – by REIA

Last month, Real Estate Institute of Australia (REIA) President, Mr David Airey appealed to the Reserve Bank of Australia (RBA) to take the state of the housing market into consideration when making their decision regarding official interest rates. “Fortunately, the Reserve Bank have once again made a considered and accurate assessment of the property market and left official interest rates ...

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