Australian Property Updates

Property Information & Real Estate Updates

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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Annual value of residential property transactions at decade low

The total value of homes bought and sold during the 2010/11 year represents the largest annual fall in more than a decade. Recent RP Data figures show the value of residential property sales for the last financial year declined nationally by 18.2%. RP Data analyst Cameron Kusher said the total value of dwelling transactions was the lowest over a financial ...

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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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