Australian Property Updates


Property Information & Real Estate Updates

New rise of property development

Building approvals rose 15.3 per cent to 16,383 units in March, seasonally adjusted, from an upwardly revised 14,208 units in February, the Australian Bureau of Statistics (ABS) said on Wednesday. It was the highest number of monthly building approvals since October 2003 and the first rise in overall approvals since last December.In the year to March, building approvals were up ...

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RBA's rate increase nightmare for first home buyers

MORE than 90,000 recent first-home buyers could be forced out of their homes because interest rates have risen faster than expected. They have been caught out by the Reserve Bank’s increase in rates – yesterday’s increase to 4.5 per cent was the third in three months and the sixth since October. The hike means repayments on a $300,000 mortgage will ...

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Australian Real Estate Market Fundamentals do not suggest a likely 50 per cent drop in house prices – REIA

he Real Estate Institute of Australia (REIA) have suggested that Mr Edward Chancellor was being too simplistic in his analysis of the Australian Real Estate Market. REIA do not agree that house prices are more than 50 per cent above their fair value.   Mr Chancellor’s comments compare house prices to income only and does not take into account the Australian ...

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Taxation reform on housing untouched for now – by REIA

The Real Estate Institute of Australia (REIA) is disappointed the Government hasn’t tackled the hard reforms for inefficient state taxes in its response to the Henry Review, which would have further contributed to economic growth. “The Government’s first wave response to the Review has been confined to reform resource, company and small business taxes and superannuation,” said REIA President, Mr ...

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