Property Investment News, Tips, Tools, Strategies, Experiences, Case Studies, Outlooks
Australia housing prices increased 1.8 per cent in January, according to RP Data, taking them 11.8 per cent higher in 12 months. “What makes me angry is that my father was able to buy a three bedroom house in Williamstown and support a family (my mother didn’t work) on the average income of a school teacher,” said …
Continue reading “Housing prices increased almost 2 percent in January 2010”
Great Australian Dream? I don’t think so! The additional demand from abroad is contributing to rising property prices – with average median prices surging more than 10 per cent in capital cities last year – and fuelling the disappointment of would-be local buyers who are being out-bid. ”We have lost three properties (that we know …
Continue reading “Great Australian Dream or Great Daydream?”
Well, you need to do your own research to identify property investment hotspots. But How? RP Data’s ranking of property hotspots is based on the following criteria: Pricing relative to nearby property locations Proximity to CBD of major centre Proximity to public transport Proximity to major roads Provision of local retail amenities Housing types Renovation potential …
Continue reading “Where should I buy an invetment property?”
Without the required new home building to keep up with underlying requirements, house prices and rents are expected to continue pushing upwards through 2010, according to Housing Industry Association (HIA). The association is forecasting a moderate housing recovery in 2010 with about 152,000 dwelling starts. But that’s still below the 190,000 required to keep pace with …
Continue reading “House prices and rents are expected to rise in 2010”
Potential borrower who want to borrow 100% of the purchase prices are most likely be unsuccessful and will need to show they can save for a deposit, according to mortgage broker Loan Market. Inquiries for 100 per cent home loans have surged 250 per cent since the federal government’s more generous first home owners grant …
Rents for three-bedroom homes in Sydney’s outer suburbs rose an average of 9.4 per cent last year, despite the global financial crisis during which rents in inner suburbs went up by less than a quarter of that rate. The latest rent and sales report from Housing NSW reveals that the sharp increase in rents for …
Continue reading “Rents in Sydney’s outer suburbs rise almost 10%”
One of the most outspoken sceptics of Australian property prices lost a bet that home prices would fall 40 percent from peak to trough in 2009. While the truth is that last year, capital city house prices rose by 12.1 per cent, hitting a new high, as demand from first-home buyers sparked a revival at …
Continue reading “House price crash? I was hopelessly wrong on house prices!”
Home loans in arrears by more than 30 days increased across all borrower categories during the December 2009 quarter, Fitch said in a report released on Monday. According to Fitch, more and more people will not be able to pay back their home loans in 2010 as borrowers battle rising interest rates and Christmas-induced credit card bills. …
Continue reading “More people cannot pay back home loans in 2010”
Here are the top 100 property related search keyword phrases in January 2010 from Google. It seems that there are more buyers than renters. Investment property is in the top 10 search terms. “property” “buy property” “rent property” “properties” “property for sale” “estate property” “real estate property” “properties for sale” “investment property” “commercial property” “property …
Continue reading “Top 100 property search terms in January 2010”
Australian housing finance commitments for owner-occupied housing fell 5.5 per cent in December, seasonally adjusted, to 55,632 the Australian Bureau of Statistics said on Wednesday. Economists had expected the number of owner-occupier housing finance commitments to have fallen by 5.0 per cent in December. Total housing finance by value fell by 2.8 per cent in …
Beach property with coastal areas along the nation’s Eastern Seaboard experienced strong price recoveries in 2009 and will see further strong gains throughout 2010. According to an analysis of REX data, house prices gains in major coastal areas such as the Sunshine Coast, Gold Coast, Tweed and Port Macquarie are accelerating. “There are more buyers than stock …
Continue reading “Beach property will make strong gains throughout 2010”
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. Despite a sluggish start, 2009 ended with the biggest price growth since 2003 on a rise in activity at the top end of the market, the APM 2009 …
Continue reading “Strongest annual house prices growth since 2003”
Banks will not pass on the full interest rate increases which are forecasted at 1% in 2010, according to Australia’s top macroeconomist Chris Richardson. He said that increasing competition for new customers and lower funding costs would cause major lenders to absorb about 30 basis points of Reserve Bank increases during the second half of 2010. …
Continue reading “How big four banks will change their home loan interest rates in 2010?”
Australia has the most unaffordable housing market according to the Sixth Annual Demographia International Housing Affordability Survey published in 2010 (see the housing affordability index by country and housing affordability index scales below). The survey looks at 272 metropolitan markets in Australia, the US, the UK, Canada, Ireland and New Zealand. Housing affordability is measured by using the …
Continue reading “Australia housing affordability reached a new low point”
Well, this definitely sound good for any property investors or home owners – it definitely a bad news for those who are looking to buy a property. The Real Estate Institute of Victoria (REIV) says the cost of buying a home in Melbourne has shot up over $75,000 in three months to reach another record …
Continue reading “$75,000 in three months – does this sound good?”