Australian Property Updates


Property Information & Real Estate Updates

New Player in Domestic Building Insurance

VMIA reaches agreement with QBE to deliver domestic building insurance*  The Victorian Managed Insurance Authority (VMIA) has entered into an agreement with QBE Insurance (Australia) Limited, QBE, under which the VMIA will provide domestic building insurance to builders and owner builders in Victoria.  The agreement follows the recent decision by the Victorian Government to transition builders to a State underwritten ...

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Melbourne welcomes a new suburb

20,000 Victorians will soon have a new home in Melbourne’s newest suburb. Cranbourne East Precinct Structure Plan (PSP) has just been approved. Schools, kindergartens, retirement villages, open spaces and three local town centres will all be developed over the next 15 years as well as up to 3,000 new jobs will be created. “We are delivering on this plan and ...

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First home buyers walking away in WA

The first home buyers’ market in Western Australia has collapsed on the back of rising interest rates, the state’s peak real estate body says. Figures from the office of state revenue reveal first home buyers dropped over 50%, from 2300 in April 2009 to 988, in the same month this year. Real Estate Institute of Western Australia (REIWA) president Alan ...

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Property Developers drop Sydney due to high costs

SYDNEY is being shunned. The big residential developers are pinning hopes of future profits on Melbourne, Perth and Adelaide. Brisbane has also fallen out of favour.Researchers constantly identify Sydney as the city of opportunity due to a undersupply of housing and rising prices, but the city’s costs are high, it is being stung by a new state tax and it ...

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Sydney is lagging behind Melbourne in growth of property market: what are the impacts for home buyers in these cities?

Aussie’s John Symond looks at the fact that Melbourne is growing faster than Sydney. What are the impacts for home buyers in these cities? John Symond, Executive Chairman of Aussie, is widely credited with bringing competition to the Australian home lending industry, forcing the banks to drop their mortgage interest rates and lifting their service levels.

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