The number of Australians who believe it’s a good time to buy a home surged 11.5 per cent over the December quarter, reaching highs not seen in three years.
The Reserve Bank of Australia’s (RBA) decision to leave the official cash rate on hold earlier this month was driven largely by “slightly higher than expected” house prices in the September quarter.
Median house prices have climbed 1.4 per cent across the nation’s capitals for the June quarter, according to the Bendigo Bank/REIA Real Estate Market Facts report.
There are several “encouraging” signs of improvement in housing activity, backed up by positive data, which indicate a housing market recovery is imminent, according to CommSec.
Australia’s housing shortfall has increased by 28,000 dwellings, taking the cumulative shortfall since 2001 to 228,000 dwellings, according to the Urban Development Institute of Australia (UDIA).
Queensland’s property market is finally clawing its way back, posting positive results for the first time in 18 months.
The Real Estate Institute of Queensland’s (REIQ) March quarter median house price report found property prices across most of the sunshine state increased – in some cases significantly.
Rental vacancy continues to tighten across Queensland, with the majority of cities now seeing vacancy rates fall to below three per cent, according to the Real Estate Institute of Queensland (REIQ).
The first major contributor to this tightening vacancy is the slower sales activity over the past 12 months, leaving potential first homebuyers stationary in rental properties, REIQ chief executive officer Anton Kardash said.
A Queensland property boom has up-shifted from ‘likely’ to ‘certain’ following the Queensland state election result, according to Terry Ryder of hotspotting.com.au.
He says the sunshine state was already heading into a real estate recovery, with the resources sector and key indicators suggesting rising property markets, but the Liberal National Party’s smashing of Labor on the weekend is a huge boost for confidence.
The next economic boom could be here as soon as 2014 according to one chief economist recently addressing a business leaders’ luncheon in Brisbane.
Some of the city’s top ASX company CEOs were in attendance as BIS Shrapnel economist Frank Gelber predicted growth in ailing sectors including property and retail.
More doors could be open for potential homeowners this year, following a new study into lending criteria by Australia’s financial comparison website
RateCity.com.au The company analysed the loan-to-value (LVR) ratios of home loans and found there are now more than two thirds of home loans with LVRs of 95 per cent and above. This compares to about 50 per cent of home loans two years ago.
The Commonwealth Bank has become the latest lender to break ranks with the Reserve Bank of Australia (RBA) and raise rates out of cycle by 0.1 per cent.
It follows a decision by ANZ and Westpac to raise rates last week (ANZ by six basis points or 0.06 per cent to a variable rate of 7.36 per cent and Westpac by 10 basis points or 0.1 per cent to a variable rate of 7.46 per cent).
Australia's housing shortfall is expected to blow out to more than 640,000 in 20 years, prompting industry calls for tax cuts and other measures to stop prices going through the roof.
The gap between demand and supply increased by 28,200 to 186,800 housing units this year, a National Housing Supply Council (NHSC) report reveals.
Released today, the Australian Bureau of Statistics House Price Index figures report a glossier picture for the recent September quarter established house price averages across eight capital cities, with a smaller 1.2 per cent average dip across capitals, compared to the 2.2 per cent drop recorded in the 12 months to the September quarter.
Yesterday’s official cash rate drop could be setting the scene for buoyant buying times ahead in the housing market, according to Laing and Simmons general manager Leanne Pilkington.
Commercial property investor sentiment is still strong across most markets in the Asia Pacific despite the worsening economic situation in the United States of America and Europe, according to a new report from CB Richard Ellis.
The Reserve Bank Board’s decision not to budge the official cash rate from 4.75 per cent today translates to prime time for home loan rate negotiations as the mortgage industry scrums for business, according to interest rate comparison website RateCity.
For the month of August, RP Data-Rismark’s Combined Capital Cities Index indicated a slowdown in capital city dwelling price declines, reporting a seasonally adjusted capital loss of only 0.4 per cent, the smallest decline since April.
With all the volatility in the sharemarket recently, there's been speculation interest rates could start to drop. But whether or not rates move in the near future, investors should already be armed with solid protection for their portfolio, according to Gavin Hegney of Hegney Property Group..
With all the volatility in the sharemarket recently, there's been speculation interest rates could start to drop. But whether or not rates move in the near future, investors should already be armed with solid protection for their portfolio, according to Gavin Hegney of Hegney Property Group..
European debt, American recession and a looming second global financial crisis (GFC). Sounds familiar, doesn’t it? Well, according to Understand Property, another economic slump around the world is potentially a good thing for your investment property.
Amid the economic uncertainty leading to recent sharemarket falls around the globe, accounting firm Chan and Naylor reminds people that Australia remains the 'lucky country' and there are bargains around for savvy investors in both property and stocks.
Australian houses cost $66,000 less than what they were two years ago, yet household wages have risen by almost $20,000 in five years. The changes mean it's now very realistic for homebuyers to get into the market, according to RateCity.
The home loan uptake for new home constructions or a newly completed dwellings may have risen by 5.7 per cent in May, up from 3.3 per cent rise in April, however further sustained improvements are needed to see this trend continue, according to the Housing Industry Association (HIA)..
Improved housing affordability and rental yield increases signal a prime time for opportunistic buying, according to May's RP Data-Rismark Hedonic Home Value Index.
The residential property market has been slow recently, but a combination of factors will come together to see the market improve from 2011-12, predicts BIS Shrapnel.
The property market is one of the main reasons why more and more Australians are becoming millionaires, according to an annual report by Capgemini and Merrill Lynch..
