Upgraders to Dominate in 2010
Up-graders will be a force to be reckoned with in 2010, according to the BIS Shrapnel Residential Property Index. "In the absence of continued first home buyer growth, demand from both up-graders and investors will be pivotal to sustained price growth over calendar 2010," the report said.
HOUSE PRICES FOR DUMMIES (by Chris Joye, RP Data Rismark)
Ever wondered how to discriminate between the different house price measures that are available out there? Then you need to read this >>>> I have received a bunch of questions from journalists about how to discriminate between the different house price measures that are available out there (this tends to be a cyclical event!
Nab, Westpac, Cba Leave Rates Steady
Australia's big four banks say they will hold standard variable home loan rates steady after the central bank shone the spotlight on bank mortgage rates as a major reason for leaving the cash rate unchanged.
Rba Leaves Cash Rate on Hold at 3.75%
The Reserve Bank of Australia (RBA) has left the official cash rate unchanged at 3.75 per cent. The central bank's surprise move marks the first time since its October policy meeting that it has not moved to increase the cash rate.
House Prices Record Strong Growth
House prices are at all time highs in most capitals after more buying in expensive suburbs drove the strongest annual price growth in seven years. The medium to long term outlook for property prices remains strong as the population grows, incomes rise and demand for houses outstrips new supply, says an Australian Property Monitors' report.
House Sales on the Boil As Confidence Returns
Just 3 per cent of people expect home prices to fall this year - compared to a third who were expecting prices to fall when surveyed early last year, according to the latest Westpac Consumer Sentiment survey. Despite three official interest rate rises, and the likelihood of more, sentiment towards property ranks at the highest levels since 1994.
Fixed Rate Mortgage Demand at Record Low
Demand for fixed rate mortgages dropped to a record low in December, a survey reveals. Just over one per cent of Mortgage Choice's new home loan approvals were for fixed loans in December, a company survey released on Wednesday shows. It is the lowest since the mortgage broker began recording such data in January 2003.
HOUSING AFFORDABILITY STEADY OVER 6 YEARS: Rismark
The perception that housing is becoming less affordable is untrue, according to a new housing index which indicates affordability has remained steady or even fallen over the last six years. Investment strategy firm Rismark Australia has released a new index that shows median house prices remained between 3.7 and 4.3 times disposable income over the last six years.
Race on As Keen Buyers Chase Too-few Properties
THE PROPERTY SCRAMBLE IS ON Supply, or rather, a serious lack of it, is tipped to become one of the driving forces shaping the 2010 residential market. There may be very little auction activity going on now but industry reports of strong levels of buyer inquiry and open-for-inspection numbers are already being received from across the metropolitan area.
Experts' Views Mixed on Mortgage Options
As the economy turns a corner, economic commentators are in two minds about whether borrowers should fix their mortgage at a relatively high interest rate or sign up for an historically low variable option. Economists predict we are looking at a fourth consecutive rate rise after a surprise surge in jobs on Thursday showed yet again the strength of the Australian economy.
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