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 [...] [...more]
Auction clearance rates were down this weekend despite talk of consumer confidence returning. Auction figures released by Australian Property Monitors found clearance rates in Brisbane were down by 35.5 per cent over the weekend, with Brisbane recording the lowest clearance rate of only 12.5 per cent. The story was much the same in Melbourne, with auction [...] [...more]
It seems that in an effort to afford that dream first home, some buyers resort to renting out rooms in their new home to assist with home loan repayments. A recent survey of home buyers conducted by Mortgage Choice, revealed that 14 per cent of home buyers said that they intend to reduce their costs of [...] [...more]
According to the Housing Industry Association , although the overall housing market is still quite weak there seems to be some improvement in the number of new home sales generated in March 2010. New home sales numbers increased by 4.3 per cent in March, following a 0.6 per cent gain in February. Detached homes [...] [...more]
Home prices of Australian capital city fell 1.8 per cent in the March quarter according to the latest RP Data-Rismark Home Value Index. RP Data research director Tim Lawless said that the numbers were being dragged down by a recent rapid build up of housing stock into the market. “The amount of realestate being advertised for [...] [...more]
As cost of land continues to increase and the size of new house block continues to shrink, residential land sales across Australia have fallen away to their lowest level in at least 10 years. The Housing Industry Association – RP Data residential land report showed that the volume of land sales dropped to about [...] [...more]
First Home Buyers may begin to slowly re-enter the property market in the coming months. Based on the latest Genworth Financial’s Home Buyer Confidence Index, recent first home buyers have shown they are comfortable with high debt levels, this may well result in other First Home Buyers deciding that now is the time to enter the [...] [...more]
The Building Revival Forum scheduled for tomorrow is expected to raise the need for an increase to the first-home owners grant for buyers of new homes in order to revive the dying First Home Buyer market. Industry will also seek a commitment from the State Government to significantly reduce stamp duty for off-the-plan purchase [...] [...more]
Home Buyers are walking away from the property market at a pace that threatens to further deflate property prices by at least 5%. The number of new home loans approved by Australian lenders has fallen by 5.6 per cent to a 10-year low in February, after a similarly sharp decline in January. We can not blame [...] [...more]
Canberra residential property prices are beating every other state in Australia. According to figures provided by RP Data-Rismark, housing prices in Canberra have soared by 3.7% for the 3 months to May 2010, with the median price today being $508,500. The ACT government have started selling land via a “virtual” ballot after buyers camped out for [...] [...more]
