New rules making it easier for foreign residents to invest in Australia real estate, along with an influx of overseas students, are changing the property market – according to an article in SMH. Changes to foreign investment policy around acquisitions of residential real estate by foreign persons, in late 2008, has come under fire in the media recently …
Melbourne property market is even hotter after 5 RBA interest rates in 7 months.
Despite the recent 25 base point RBA interest rate rise, Melbourne property market is even hoter after Easter, having recorded its strongest opening quarter on record. The weekend’s clearance rate reached 85 per cent, from the 488 auctions reported. JPP Buyer Advocates’s Catherine Cashmore went to five auctions at the weekend and said all the properties at …
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Looking to buy investment properties? Adelaide might be a good choice!
The Real Estate Institute of South Australia says the housing affordability in South Australia compared to all other states, still remains probably one of the best although the median house price for metropolitan Adelaide has passed the $400,000 mark for the first time. The Real Estate Institute of South Australia says the median house price …
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What should you do when RBA rate is rising?
What should you do when RBA rate is rising? The course of action you might take will depend upon your individual situation. If you have a variable rate loan, it seems clear that you should currently be directing every spare cent towards paying it down in order to minimise your balance when higher rates arrive. …
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House prices in Melbourne and Sydney are tipped to rise
House prices in Melbourne and Sydney are tipped to rise because of the limited availability of land, steady poplulation growth, and strong demand from international investors. Developers are arguing that consumers will be forced to pay over the odds as the availability of land shrinks at the same heady rate as demand for new homes increases. The …
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20% house price increase in 2010?!
House prices have risen by 3.4 percent in Jan & Feb so far this year despite recent interest rate rises and warnings on further rate increase from the Reserve Bank of Australia. At this rate, we might see 20% increase in house prices across Australian capital cities in 2010. The RP Data/Rismark Hedonic Home Value …
Glenn Stevens says blaming foreign buyers for rising house prices
Reserve Bank governor Glenn Stevens says foreign buyers are a factor in rising house prices. Mr Stevens said the bank was monitoring how much the federal government’s decision last March to relax its rules on foreigners owning property had contributed to surging prices for housing. He said the role of foreign purchases was ”an important …
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Do you think investors are stupid to buy a property bubble?
A confluence of housing shortages, low interest rates, speculative fervour and last year’s move by the Rudd Government to relax foreign ownership rules on real estate have turbo-charged house prices. In the latest Investor Pulse survey, conducted jointly by BusinessDay and marketing research group Colmar Brunton, there is no indication that investor appetite for property …
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Why Melbourne people pay $100,000 above property asking price?
And as long as buyer demand continues to outweigh supply, this trend is likely to continue. Frank Valentic of Advantage Property Consulting said 35 McNamara Street, Preston West, was quoted at $505,000 and sold for about $604,000. Another property, at 9 Towers Street in Beaumaris had an asking price of $720,000 and sold for $822,000. …
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Investor demand for housing loans strong
I predicted in 01/2010 that property investors will be the main driver for any home loan growth in 2010 in my post “Property investors will drive home loan growth in 2010“. The latest data from Australian Finance Group (AFG) supports my predict very well. Australian Finance Group (AFG), which claims over 10 per cent of the …
Should I buy an investment property now?
Yes or no there is no correct or incorrect answer. But I would hold there for a few more months. Personally, I think it is not a buyer’s market. Let’s use Melbourne as an example. The overall auction clearance rate was 87 per cent, compared to 75 per cent this weekend last year and just 66 …
Buy house in Sydney or Melbourne in 2010
Wonder if you should buy a house property in Sydney or Melbourne in 2010? The chart below clearly shows that you should buy in Sydney because the median house price Sydney is till much lower than the prediction while the median house price Melbourne is already in line with the prediction. In addition, the 2020 median house price …
Property investors back in SA housing market
The Housing Industry Association (HIA) says figures show investors are returning to the South Australian market. There was a 22.2 per cent jump in building approvals for January over December, mostly driven by unit dwellings. Nationally there was a 7 per cent fall. Robert Harding of the HIA says the market is on the right …
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New home sales hit five month high in January 2010
Sales of new homes rebounded to a five-month high in January, a sign that upgrading owner occupiers and investors may be coming back in to the market, a leading industry body says. New homes sales rose 9.5 per cent to 8,444 in January, the Housing Industry Association (HIA) said on Monday. Sales rebounded from December’s …
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Melbourne property prices are booming
Melbourne property prices are booming. Melbourne’s property market is showing no sign of slowing, after a record breaking week of property sales. More than $1 billion worth of real estate was sold last week and the clearance rate from auctions at the weekend was 86 per cent. According to the Real Estate Institute of Victoria says …