Buyers who have sold their property last year or have simply come into some money should find 2012 a great year to make a property purchase. It does not matter if one is looking for a new home or an investment property, buyers should be able to find deals waiting for them in most capital [...] [...more]
THE number of home loans approved by banks and other lenders during the month of November has gone beyond market expectations, making economists believe that 2012 will be a good year for property. We have already seen 2 rate cuts in late 2011 and further cuts are expected in early 2012. This will undoubtedly boost [...] [...more]
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 [...] [...more]
It seems that Australian property buyers are taking a break – there is certainly no rush to make a property purchase despite lower interest rates and lower property prices. According to a survey of potential property buyers by the Commonwealth Bank/MFAA Home Finance Index for September, only 16.9% of respondents are considering purchasing a property [...] [...more]
With auction clearance rates down, and the number of property sales across the board also in significant decline, it may take as long as eight months to clear housing stock on the market today. RP Data’s Property Pulse has reported that housing stock is piling up, with 7.4 months of effective supply on the market. Research analyst [...] [...more]
According to statistics provided by the Loan Market Group, First home buyers are finally awake after a long period of hybernation. This segment of the home loan market has been the most active with the Loan Market Group during the month of October. For the first time in over two years the mortgage broker has had [...] [...more]
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 [...] [...more]
According to reports in the media, at least one of the big four banks is showing hesitation to provide property development loans both residential and commercial, given the perceived risks in many projects. The Australian reports that according to documents they were able to access at least 61 projects across Australia have been tagged as having [...] [...more]
While over the past 12 months there has been little activity in the property and home loan markets from First Home Buyers, this is likely to change in the near future. Speaking to The Adviser, Century 21 chairman Charles Tarbey said first home buyers and first time upgraders will dominate the market during the [...] [...more]
A downturn in Australia’s property market will only contribute to concerns of a two-speed economy in the resource-rich nation. Mining profits are bursting at the seams due to heavy demand from China and other fast-growing Asian countries, while consumer businesses and manufacturing have gone into hiding from concerns about the prospect of growing [...] [...more]
