Brace for a Housing Price-rise Flare up
Tony Richards, head of economic analysis at the Reserve Bank of Australia, has warned of a possible new price boom in the residential real estate sector. He noted the unwelcome social side-effects of such a trend, and called on state governments to make more development land available.
Island Hopping in the Heart of Sydney
As part of the 'Crave Sydney' celebrations throughout October, locals and tourists alike will be able to travel along the Sydney Harbour foreshore with Sydney Harbour Island Hopping.
Auction Activity Surges
The recent surge in home buying activity shows no signs of abating as Sydney and Melbourne both recorded auction clearance results above 70 per cent over the weekend. More than 260 properties went under the hammer in Melbourne this weekend, 190 of which were sold for a clearance rate of 72.2 per cent.
Home Loans Soar
AAP The federal government's enhanced first home owner grant helped mortgage brokers write more than $18 billion of home loans in the June quarter, an 18 per cent increase on the same period a year ago, a report says. Mortgage brokers wrote and settled $18.3 billion in new home loans in the June quarter, figures from independent consultants Market Intelligence Strategy Centre (MISC) found.
Imf Says Australian House Prices Not Overvalued
Australia is unlikely to experience a major correction in house prices given the impact of long-term migration on demand, according to the International Monetary Fund (IMF). In its world economic outlook, the IMF said that after taking long-term migration into account, there was insufficient evidence to suggest Australian house prices were significantly overvalued.
Australia’s population continues its rapid growth
Despite the world economic slowdown and a reduction in skilled migration, Australia’s population growth continues to surge ahead, creating unprecedented demand for Australian housing.
Reserve Bank Decision Imminent
Leading up to the Reserve Bank’s board meeting on Tuesday Oct 6th , there has been a great deal of data that the RBA board will be contemplating when deciding whether to lift interest rates or not. Residential property values recorded their largest monthly gain (1.9% nationally over August) since the RP Data-Rismark Home Value Index was released back in January 2005.
Property Values Climb 2% in August
National property values have jumped by almost 2 per cent in August in the largest monthly movement since January 2005. According to figures from RP Data, Australia’s housing recovery solidified during the month of August with strong capital gains registered across the country despite evidence of fading first home buyer numbers.
Lack of Housing Supply to Hurt Affordability
The Reserve Bank of Australia (RBA) has warned that rising house prices and interest rates could have a significant effect on affordability. Speaking at the Committee for Economic Development of Australia’s housing forum yesterday, the RBA’s Tony Richards said supply was not keeping up with the increasing level of demand driven by the surging population.
Global House Price Recovery
Australia’s residential property market is rebounding strongly… Global residential property markets bottomed in the March quarter of 2009 with numerous markets rebounding in the June quarter…It does appear that the worst is behind us…Buyers are still being very specific when conducting their due diligence, but there is a greater willingness to commit and the overall sentiment in the...
Previous Articles
- May 2024 2
- April 2024 2
- March 2024 1
- February 2024 1
- November 2023 1
- October 2023 1
- September 2023 1
- August 2023 1
- July 2023 1
- June 2023 1
- May 2023 2
- April 2023 1
- March 2023 1
- February 2023 1
- January 2023 1
- December 2022 1
- November 2022 3
- October 2022 1
- September 2022 2
- August 2022 1
- July 2022 4
- June 2022 3
- May 2022 2
- April 2022 1
- March 2022 1
- February 2022 1
- January 2022 1
- October 2021 1
- September 2021 4
- August 2021 1
- July 2021 2
- May 2021 1
- April 2021 2
- March 2021 2
- February 2021 1
- January 2021 2
- December 2020 2
- November 2020 2
- October 2020 2
- August 2020 1
- May 2020 2
- April 2020 2
- November 2019 1
- October 2019 1
- August 2019 1
- July 2019 1
- June 2019 1
- May 2019 1
- February 2019 1
- January 2019 1
- October 2018 1
- September 2018 1
- July 2018 2
- June 2018 2
- May 2018 1
- April 2018 2
- March 2018 3
- January 2018 1
- December 2017 3
- November 2017 1
- October 2017 1
- August 2017 1
- July 2017 1
- June 2017 5
- May 2017 31
- April 2017 30
- March 2017 32
- February 2017 28
- January 2017 31
- December 2016 31
- November 2016 29
- October 2016 30
- September 2016 30
- August 2016 26