Moody's concerned about Australian property prices

GLOBAL ratings agency Moody’s has issues a warning to Australia about our housing market amid fears that prices will tumble further if Europe’s debt crisis is not contained. In a new report, Moody’s says it believes that Australia’s Mortgage Insurance industry may be exposed when Australian property prices start dropping further if funding issues persist in Europe. The ratings agency ...

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Housing is becoming more affordable

Recent figures suggest that housing has become more affordable in recent years across all states of Australia. The Real Estate Institute of Australia (REIA) – Deposit Power Housing Affordability Report showed the proportion of income required to meet the repayment of home loans has declined by one percentage point to 33.6 per cent during the September quarter.With the exception of ...

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Housing blocks are smaller and more affordable

According to new research, builders are reacting to falling property prices and more cost-conscious buyers, by reducing the sizes of standard housing blocks as well as sizes of houses constructed for sale. Stockland, Australia’s biggest listed home builder, has cut the average size of it’s housing lots in it’s  house-and-land packages by almost 20 per cent – to 481sq m ...

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Minor recovery for new home sales

October 2011 has brought with it a minor recover in the number of new home sales in Australia. This was at least a small improvement from the lowest result in more than a decade. The latest HIA – JELD-WEN New Home Sales Report found the number of new homes sold in the month of October 2011 increased by 5.5 per ...

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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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