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]
According to the latest HIA – JELD-WEN New Home Sales Report, sales of new homes fell further during the month of September with sales of detached new dwellings being at the lowest monthly level for almost 11 years. The number of new homes sold in the month of September fell by 3.5 per cent [...] [...more]
The total value of homes bought and sold during the 2010/11 year represents the largest annual fall in more than a decade. Recent RP Data figures show the value of residential property sales for the last financial year declined nationally by 18.2%. RP Data analyst Cameron Kusher said the total value of dwelling transactions [...] [...more]
The Real Estate Institute of Australia has today called on the government to abolish stamp duty on all Australian property transactions. Speaking at the national Tax Forum, REIA chief executive Amanda Lynch said the current level of stamp duty have had the effect of making housing unaffordable to most first home buyers as well [...] [...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]
Demand for quality rental accommodation across the capital cities of Australia remains high, despite the fact that rentals continue to escalate. Low vacancy rates, improving employment, the end of the first home buyers’ grant and last year’s string of rate increases have contributing to the increase. Data provided by RUN Property shows that Sydney recorded [...] [...more]
Home buyers will be happy to hear that Australia’s average property price to income ratio has fallen back to 2003 levels. According to recent research conducted by Rismark, the average proce today of an Australian dwelling in relation to disposable income has fallen to just 4.2 times in March 2011 from its recent peak of 4.7 [...] [...more]
According to a new survey by PRDnationwide, convenient location close to public transport is the number one priority for home buyers. It seems that 57% of home buyers value proximity to public transport ahead of other property features. The PRDnationwide survey also found that 16 per cent of property buyers considered that having a supermarket within [...] [...more]
If you are looking for a property bargain – now is the best time to find one or many. According to new research by RP Data, property sales volumes have been in decline since September 2009. At the same time, vendors who need to achieve a sale of their property are forced to offer fairly significant [...] [...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]
