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]
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]
The New South Wales state government is taking some action to significantly increase the housing supply in that state. First Home Buyers and renters are set to benefit from the proposed action. Last week, NSW premier Barry O’Farrell said the government had joined hands with Landcom to release 10,000 new housing blocks across NSW over the [...] [...more]
Research conducted by a national home loans provider – Mortgage Choice, suggests that now is a great time to purchase a property. According the research results, Australia currently has a very low rate of rental vacancy, while there are genuine expectations of rising rents due to expected economic growth coupled with healthy levels of immigration. Property [...] [...more]
WARRINGAH Council has made a decision to refuse subdivision of a controversial parcel of prime Brookvale bushland, one which a developer had wanted to build six homes. The developer lodged an application for a two-lot subdivision of the 97,800sq m block, which borders Warringah Rd, Beacon Hill Rd and Northcliffe Ave. While an environmental protection order [...] [...more]
