The Real Estate Industry is fuming at the government for not consulting with them. The Australian reviled yesterday that in the four months since the election the Gillard Government has not contacted the Real Estate Institute of Australia (REIA) for any advice. According to the institute, they had long provided …
According to a poll of 237 property professionals, House prices in Australia are now expected to fall in 2011. NAB conducted the survey from a pool of expert respondents including real estate agents/managers, property developers, fund managers and owner/investors. They expected property prices will not only fail to keep up …
According to data released today from Residex, House prices in Australia fell 1.1 percent in December. During December falls were experienced in every capital city except Brisbane, although Brisbane recorded a fall of 2.9 percent for the year. Residex Chief Executive John Edwards said they wouldn’t know until the end …
According to data from RP Data and the HIA, the number of land sales across Australia in the September quarter plunged 57 percent for the year, falling to levels not seen since September 2001. Melbourne saw a 74 percent drop over the year. The median price for a lot in …
A monsoonal trough in the aftermath of Cyclone Wanda caused around 900mm to fall in the South Eastern Queensland between the 24 and 29th of January 1974. These floods were the worst to hit Queensland since 1893. Back in 1974, Australian’s saved for a rainy day. According to data from …
Following in the footsteps of China who is working in vain to curb speculation in their housing bubble, Singapore has also stepped up measures to cool it’s market. Previously citizens could only borrow up to 70 percent to fund a purchase of a 2nd or subsequent home. This has now …
Labour force figures released today by the Australian Bureau of Statistics (ABS) show “official” unemployment fell 0.2 percent points in December to hit a two year low of just 5.0 percent. Despite the jobless numbers falling 25,400 to 598,700, the biggest factor contributing to the fall in the unemployment rate …
According to data from SQM Research the number of property listings surged 44 percent in 2010 suggesting the Australian property market is set to take a slide in fortunes this year. SQM Research MD, Louis Christopher said “It’s still very clear to us that they are now at levels that …
According to statistics released from RP Data today, House prices in Australia continue to trend in the downwards direction. In the November quarter, prices fell 0.6 per cent in capital cities, or a seasonally adjusted 0.2 percent. Perth lead the pack with a 3 percent decline for the three months …
According to the Global Real Estate Trends report published by Scotia Economics on Christmas Eve, “Australia is the clear front-runner in 2010” when it comes to house asset price rises. The report cites “Housing demand is being supported by low unemployment, while tight supply is adding to the upward pressure …
With only 24 hours left the go, analysts are describing retail conditions as the worst since the early 1990’s. According to the Australian Retailers’ Association, more than 65 percent of retailers had worst sales figures this year than in the same week, last year. While some blame the high Australian …
In what should be a pre-Christmas cheer to home owners and property investors, the IMF has said Australian housing is only moderately overvalued by 5 to 10 per cent and as a result the correction is likely to be orderly. Rising exports from our mining boom resulting in higher disposable …
In a Senate inquiry into the banking sector today, Reserve Bank Governor Glenn Stevens has warned the government not to mess with the banking system too much or face the risk of “unintended consequences”. “When you think about extensive public intervention in housing markets, we don’t need to go any …
Today, the Adelaide Sunday Mail printed the following in an article titled “Housing boom over as values fall” : ADELAIDE’S median house price has fallen by $8000 since hitting a record high this year, the latest sales figures show. And the real estate industry says the past decade’s price boom …
Enzo Raimondo, the CEO of the Real Estate Institute of Victoria has just reported on today’s Auction Clearance Rates for Melbourne. Of the 937 auctions reported today, 84 sold prior to the auction, 475 sold at auction and two sold after, making a clearance rate of 60 percent. There is …
It wasn’t all that long ago, that Real Estate experts were telling us that house prices can’t fall in Australia due to a “chronic” shortage of homes. They said the stark reality is we are not building enough homes to meet demand from our growing population, and this shortage will …
A report from the Renmin University of China suggests China’s property market is in for a 20 percent fall next year starting in March or April. The forecast comes based on measures the China central government is undertaking to cool the property market. This is likely to see capital for …
An article published in the Australian newspaper today of a senior Treasury official warning of the house bubble in Australia has almost gone viral. The comments stem from the preparation of the RedBook, a briefing for the incoming of the new government. Two months ago, in September, we published comments …
In the money advice section of the Adelaide Sunday Mail home lift-out today, is the following letter : I have four investment properties which have grown in value considerably over the last five years. I brought one prior to 1985 so there is no capital gains tax problem but the …
It has been a bad weekend around the country for Real Estate. News Limited reported auction clearance rates have “collapsed” in Australia’s largest housing markets. According to the paper the total volume of homes traded at auction over the weekend in Sydney, Melbourne, Brisbane and Adelaide was only $242.3 million, …
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