Australian Bureau of Statistics (ABS) Housing Finance figures for June show, in trend terms, the number of commitments for owner occupied homes fell 0.8 per cent, compared to the previous month. In seasonally adjusted terms, the number of commitments decreased 3.9 per cent. “Except for the purchase of new dwellings, the decreases in lending were [...] [...more]
Agents are required to disclose the history of the property, even if a murder took place in a house they are selling. The Australian Competition and Consumer Commission this month gained power to fine agents up to $1.1 million for misleading their clients. Under the new laws, if properties such as the Glen Iris [...] [...more]
INVESTORS are the only source of growth in the housing market, and rising stocks of unsold houses suggest the outlook for house prices is souring. The level of demand for housing by owner-occupiers remains weak, with the number of new mortgages taken out in May dropping by 0.7 per [...] [...more]
Victorian Government announced the updated Victorian $12 billion Transport Plan. The plan includes a metropolitan train tunnel as well as a regional rail link, road tunnel and truck action plan for the gridlocked western suburbs. Shocked residents in areas of Melbourne’s west were left to guessing whether their homes would be snatched in the State Government’s [...] [...more]
THE number of home loans for owner occupied housing rose for the first time in eight months in May, official figures show. While the headline figure masks a slowing economy, it could mean borrowers will be spared another rate rise until the end of the year, economists say. Australian housing [...] [...more]
Last month, Real Estate Institute of Australia (REIA) President, Mr David Airey appealed to the Reserve Bank of Australia (RBA) to take the state of the housing market into consideration when making their decision regarding official interest rates. “Fortunately, the Reserve Bank have once again made a considered and accurate assessment [...] [...more]
Properties located within walking distance of the local train station are experiencing an upswing in price, new data from PRDnationwide has found. According to latest research by PRDnationwide, Sydney properties that are located near a railway station have jumped by 12.1 per cent in the 12 months to December 2009. The median sale price in those [...] [...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]
Real estate market continued to cool in May, after house prices in capital cities recorded their second straight month of single digit growth in May. The RP data-Rismark Hedonic Home Value Index grew by a seasonally adjusted 0.5 per cent in May, up a touch from the 0.2 per cent recorded in April. April’s near flat [...] [...more]
The latest figures from the Real Estate Institute of Queensland have confirmed the status of the Sunshine Coast and the Gold Coast as the worst performers in the state. The REIQ’s figures for the five years to March 2010 show that the Sunshine Coast has recorded the lowest growth in its median house [...] [...more]
