A Bankwest/Mortgage and Finance Association of Australia (MFAA) research report found that 43.8 per cent of potential first home buyers are saving money in case the economy deteriorates. 47.9 per cent are now looking at purchasing cheaper properties that originally planned. The new report comes as welcome relief after a …
The Herald Sun today has reported large discrepancies between the average house price released by the Real Estate Institute of Victoria (REVI) and official data from the Valuer General. In some cases, the REIV prices are inflated by up to 18%. In comparing the two figures for every quarter, it …
In an Adelaide Advertiser article yesterday, Assured Homes Loans sales and marketing director Fred Rasheed was quoted saying “first-home buyers would experience “catastrophe” in the next 18 months.” “A lot of people have got into the market and not even considered what will happen when rates go up 1 or …
The Sydney Morning Herald reports a forecoming $14 billion decline in mortgages written over the next 12 months as the first home buyer frenzy gets watered down. The value of mortgages written fell $3 billion or 6 per cent in the September quarter as the full value of the boost …
While much of the world is coming to terms with falling housing prices brought on by crippling debt and the inability to service it, Australia’s size of new mortgages has hit a new record. Fueled by emergency low interest rates, the average home loan brokered in November was $367,000 up …
The size of the Australian home has overtaken the U.S. to become the biggest in the world. The average size of the new Australian home is now 215 square meters, up 10% over the past decade. In contrast as the U.S. comes to grips with the worst recession since the …
New home sales fell for the 2nd month in Australia as the effects of the unprecedented financial stimulus wears off. The Housing Industry Association reported today sales of new homes fell 6.9 percent in October, following a fall of 4.3 percent in the month previous. » New home sales retreat: …
The Sydney Morning Herald reports there were only 2626 first home buyers in NSW in the month of October after the First Home Buyers Boost was slashed to $3,500. This is a fall of 57% from the previous month where 6079 buyers made a rush to ensure they picked up …
Amid fears another house price bubble is brewing in Australia, RBA Assistant Governor Guy Debelle has entered into debate with the suggestion of regulating the size of deposits home buyers must provide banks, in a bid to prevent credit fuelled asset bubbles. Back in September the International Monetary Fund endorsed …
Some of the papers this week are running stories about sky rocking rents. Portrayed as a good thing, the reports show rents for houses in Rose Bay, NSW up 58.3%, and prices for units in West End in Brisbane up 39.4% among just some of the double digit rises. Even …
The International Monetary Fund is now recommending to central banks, such as the Reserve Bank of Australia to use interest rates to take pre-emptive action to control asset price bubbles such as the bubble in Australian house prices. The IMF’s senior economist, Alasdair Scott said “There might be times even …
On Tuesday this week, the Rudd Government took the lead. Against the many voting baby-boomer Mums & Dads that own Telstra shares, they announced major changes to Telecommunications laws which will see Telstra split into infrastructure and retail arms. Communications Minister Stephen Conroy said “Today we are delivering historic reforms …
Despite the best efforts of the government to encourage Australian’s to build new homes, June housing start commencements released today show continued falls. While private sector housing starts is down 15.7% over the course of the past year, other residential building starts which include units and apartments are down 41.4%. …
Australia’s let to burst housing bubble has today been labeled “a very dangerous and unstable situation” by researchers from Flinders University, lead by Professor Joe Flood. Professor Joe Flood is a housing economist holding a PHD in mathematics, plus a science degree and has 17 years experience in the housing …
The ABC has been airing a six part series titled “The Ascent of Money”. This series is presented by Professor Niall Ferguson and follows the evolution of Money. Last night’s episode was called “Safe as Houses” and is worth a watch.
Despite the best efforts of the government to prop up the bubbling housing market, Australian Bureau of Statistics data released today show Australian house prices fell 6.7% for the year. This result is the biggest annual fall since the index started 23 years ago. It does appear the First Home …
One of the problems which has helped fuel this real estate bubble has been the wild and ridiculous claims made by sprukers. The real estate industry is unique in that you can make up anything, disseminate it to the public and never expect any repercussions. If a financial advisor made …
You could be mistaken for thinking we didn’t each have a part to play in the Global Financial Crisis. It wasn’t that long ago Kevin Rudd was saying “As Prime Minister I will not sit idly by and watch Australian households suffer the worst effects of a global crisis we …
The Sydney Morning Herald reports : THE Australian housing market is facing the prospect of a “perfect storm” of financial pressures – including high mortgage debt, overvalued homes and rising unemployment – in which prices could eventually fall by as much as 30 per cent, investors have been warned. » …
COMMONWEALTH Bank of Australia has cautioned that the Federal Government’s sweetener on the first home buyers grant should not become an open-ended offer because it could encourage some into the housing market who may not be able to afford home ownership. » Subprime warning on first home grants – The …
Copyright 2006 - 2022