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]
This weekend Auction clearance rates for residential properties in both Sydney and Melbourne was way below expectations. Potential purchasers are clearly staying away, waiting for possible a rate cut resulting in the availability of cheaper home loans, or perhaps their confidence has simply been shattered by a recent spate of economic disasters both locally and [...] [...more]
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 [...] [...more]
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, [...] [...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]
A recent survey by USB has identified Sydney as number seven in the list of the world’s most expensive cities in the world . The strong Australian dollar has undoubtedly contributed to Sydney coming in ahead of many other larger cities such as London and New York. Two years previously Sydney was a lot lower on [...] [...more]
THE great Australian dream of owning a double storey house in the suburbs with a pool, and a large back yard – is no more… Instead, more and more Australians would choose to own a townhouse or an apartment in close proximity to the city or other suburban centres. According to a report from the Grattan [...] [...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 new information released by RP Data, investment properties located in Sydney’s eastern suburbs are providing investors with the greatest returns. It seems that especially properties in the Sydney suburb of Woollahra have recorded an increase in advertised rents of 22.2 per cent over the year. Suburbs of Sydney overall performed very well [...] [...more]
