Property Prices to Rise by 23 Percent, Says Qbe Lmi
Property prices across Australia are expected to grow by as much as 23 percent over the next three years, as upgraders and investors pile back into the market.
Lender Cuts Rates on All Residential Products
In contrast to market conditions that point to upward rate movements, Liberty Financial will today drop rates on all of its residential loan products. The non-bank lender believes that the move will help inject competition into a market that is currently dominated by the big four banks.
Real Estate Activity Still Strong
Business remains brisk for real estate agents, according to RP Data’s latest Market Activity Index. The Index, which measures the activity of real estate professionals, has risen by 14 per cent since the start of June. The increase in action corresponds with the rise in overall real estate listings. More than 48,400 new real estate listings have been added to the market over the last month.
Rate Rises 'will Balance Housing Market'
Rising interest rates will prevent the housing market from overheating and will help create a well balanced market.. Industry executive Brian White says this month's interest rate rise by the Reserve Bank of Australia (RBA) and the prospect of further increases will prevent the property market from rising too rapidly.
Wealth of Australians Grows by 4% in Second Quarter : Commsec
The wealth of Australians rose by four per cent to $4,894 billion in the second quarter, the largest increase in five and a half years, according to a CommSec analysis of the Australian Bureau of Statistics and Federal Treasury's Modellers' Database. And private sector debt fell by 3.6 per cent to a 12-month low of $602.7 billion in the three months to June, the biggest drop in eight years.
Mortgage Market Gets $8 Billion Boost
AAP/Reuters The federal government will invest a further $8 billion of taxpayers' money in new residential mortgage-backed securities (RMBS) to support the home lending market, Treasurer Wayne Swan says. The move is set to double its investment in mortgage-backed securities, and comes as an earlier investment of $8 billion announced a year ago nears completion.
Property Market Recovering Well: Ratecity
Financial comparison website RateCity says Australian property is racing into recovery, with the number of home loan applications rising by almost 30 per cent in the first few weeks of September. "Lower interest rates and the first home buyer incentives have definitely helped the Australian real estate market land bank on its feet," RateCity chief executive Damian Smith said.
Direct Property Ownership in Aust Offers Strong Returns
Reuters Direct ownership of property in Australia has delivered higher returns than listed property trusts or fixed interest products, an industry association said.
House Prices Set to Jump: Report
October 14, 2009 - 1:28pm House prices may surge about 20 per cent or more in some of Australia's largest cities over the next three years, driven higher by on-going shortages. Adelaide - previously considered among the more affordable cities - may lead the advances, with prices likely to be 23 per cent higher by June 2012 from a base of June 2009, according to the QBE LMI Housing Outlook.
House Prices Lift As Buyers Return in Force
The latest data on residential property prices by RP Data-Rismark shows a rise of 2% for August 2009. This is the fastest increase since the service started compiling the figures in 2005, and indicates that the stable financial system, relatively low unemployment, and housing undersupply due to a growing population are keeping the Australian market resilient.
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