Despite all the gloom and doom and talk of significant drops in property values across the country – it seems that things are not so bad. New research by RP data states that most Australian capital cities have actually enjoyed a slight increase in property values during 2011. Sydney, Canberra and Darwin have all managed to [...] [...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]
We are living in very strange times. It is difficult to tell what will be tomorrow. Business is down, stock market is experiencing extreme volatility and property prices have also come off the boil. Now lenders are forced to work a lot harder to find a home loan customer with many competing for business in [...] [...more]
Despite gloomy weather, the Sydney property market was going hot this weekend with clearance rates hitting figures not seen for over 10 months. Property buyers ignored Saturday’s rain, spending $117.7 million on 148 properties across the city, pushing up the clearance rate to 63.5 per cent from 52.6 per cent the week before. This [...] [...more]
A new Moorabbin, Victoria residential development has been purpose-built to provide cheap accommodation. The project will deliver much-needed affordable housing in Kingston’s tight rental market. Appropriate tenants are being sought for the 75-apartmetn development, in South Road, near the Nepean Highway, that should be ready next month. The one- and two-bedroom units all have their own [...] [...more]
In the 1960s, ‘70s and even the ‘80s, real estate at Mt Buller was an indulgence afforded only by the wealthy. The reason was that there was no security of tenure and therefore, finance could not be readily obtained. Now, with leases and subleases that can be registered with the Crown Lands Department, security for lenders [...] [...more]
The Melbourne property market has certainly seen better days. Most real estate agents are struggling to clear properties as people are looking but not buying. According to RP Data, during April, Melbourne houses were discounted by an average of 6.9 per cent from their initial asking price ito help achieve a sale. Melbourne units and apartments [...] [...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]
Despite all the doom and gloom in the media, the latest data from the ABS reveals some sign of life in Victorian home loan activity, which may be an indication that the Victorian property market is finally stabilizing. Victorian seasonally adjusted owner-occupied home loans increased by 4.1 per cent in April compared with the figures for [...] [...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]
