According to SQM research, Melbourne’s rental vacancy rate surged 1 percent in December to a 6 year high of 4.4 percent as the city deals with an oversupply of residental property. There is now 16,000 rental properties sitting empty. A fortnight ago, the Herald Sun reported on a rental glut …
According to Skelton Sherborne, a freight forwarder of mining and construction equipment, imports of heavy machines into Australia fell 62.5 percent in November and December. Skelton Sherborne Director Brad Skelton said the last slowdown of this rate occurred in December 2008 / January 2009 when imports fell 77 percent. He …
More doom and gloom headlines circulate Australian media today with comments from an United States based property analyst suggesting Australian property could crash by more than 60 percent. At the same time, Australian experts counteract the argument saying it can’t happen in Australia, in fact – some say we have …
Australian Bureau of Statistics figures released today show Australia lost 29,300 jobs in December. For the year, there was close to no new jobs created making job growth last year the worst since 1992. Unfortunately this year is not expected be any better. Excessively high levels of household debt and …
While the real estate lobby groups put on a brave face and shower us with news of a recovery (0.1% increase in property prices in November), surging rents, housing shortages, tight rental vacancy rates and that it is never a better time to buy – you will get in at …
It’s the 64 thousand dollar question – With the housing market once again collapsing, just like in 2008, will the government re-introduce the first home buyers’ grant to prop it back up? With a federal election due next year, Aussie Home Loans boss John Symond expects a new boost towards …
It was December 2008. Three months earlier Lehman Brothers had collapsed – credit markets have frozen over. Two months earlier, Prime Minister Kevin Rudd announces the First Home Owners’ Boost, designed to save the housing market, or at least temporary, by encouraging first home buyers to bring forward their purchases …
When the BBC last Thursday warned international markets about a 22.5 percent rise in mortgage repossessions down under in NSW, we thought the Australian media had swept this news under the carpet. Under the headlines of “Fears mount over health of Australia’s housing market”, the BBC reported on what is …
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