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Australian Scene According to AAP, home prices across Australia’s capital cities, based on median sales prices in each market and potentially skewed by more higher end sales and fewer mid and low market sales, have continued to increase, rising an average of 10.2 per cent in the year to June, thanks to strong growth in […]
AUSTRALIAN SCENE BankWest recently published its 2017 Housing Density Report which reveals long-term trends in Australia’s housing density by examining the nation’s dwelling approvals over time. It looks at trends at a state and capital city level by monitoring the number and proportion of medium density dwelling (units, townhouses and apartments) approvals compared to total […]
If you’ve been contemplating a sale, there is some indication from experts that now may be the ideal time to sell up and capitalise on growth markets. With growing concern from economists that Australia’s housing market is in a bubble and has reached its peak, there’s a feeling that a significant correction is imminent, especially […]
Generally as we move through May, Australia’s property market typically slows down, however that wasn’t the case this year. According to CoreLogic, 2,619 properties went under the hammer on the weekend of May 20, that’s 210 more than the previous week and well above the 1,920 in the same week a year ago. Auction activity […]
Analysts from major banks and industry bodies seem to have some differing opinions on where Australia’s property market currently stands. Analysts from investment bank UBS are calling the top of the market, predicting that the boom could finally be about to turn. With heightened concerns from the Reserve Bank and retail banks steadily increasing lending […]
Economist and former Liberal leader John Hewson recently came out saying that Australia’s housing market is in a bubble caused by the “neglect and drift” of successive state and federal governments. ASIC boss Greg Medcraft recently mentioned a bubble and the Commonwealth Treasury secretary John Fraser also declaring a bubble in parts of Sydney and […]
We’ve heard recent reports of a certain politician suggesting buyers simply ‘earn more money’ if they want to get on the property ladder, however a housing affordability strategy targeting first time buyers is gaining some traction with MPs, offering a more viable potential solution. A proposal to allow young people to access some of their […]
We’ve all read the news reports about decrepit cottages and tiny garages fetching sky high prices, so it will come as little shock to learn that property in Australia and New Zealand’s major cities rates among the least affordable on the globe. The 13th International Housing Affordability Survey on global house prices was recently released […]
Welcome back to a brand new year. With Australia’s property affordability at an all-time low in many markets around the country, a number of property business leaders have urged state and federal governments to push ahead with tax reform to help fix the worsening problem. This comes after the Coalition ruled out changing the negative […]
Could our record-low interest rates be on the upswing? According to Mortgage Choice chief executive officer John Flavell, Australia’s lenders could soon begin increasing their rates. Flavell says it’s “very likely” that home loan rates have already hit the bottom of the interest rate cycle. “There is growing speculation that the United States’ Federal Reserve […]