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 …
Housing prices increased almost 2 percent in January 2010
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 …
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Why house prices rise? Because of FEAR!
Why Australian house prices rise? There seems many factors – demand and supply, immigrant, inflation,etc. However, I say there is only one factor – fear! Becasue you fear that the house prices will rise further, so you want to secure one as soon as possible. Other people have the same fear so you have to pay more …
Term deposits or property investment?
Heard about the 8 per cent term deposit offer from Westpac? Or the Bank of Cyprus offer of 7.85 per cent term deposit for five years? Are you wondering if you should put your money into bank’s term deposits or invest them into property? Well, it depends on. Inflation should continue at a rate of 2.5 …
Great Australian Dream or Great Daydream?
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 …
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Where should I buy an invetment property?
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 …
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Are property investment seminars useful?
Should I attend those free property senimars? Can I trust real estate investment seminars? Look, there is no harm in attending these events, providing you are very sceptical and know absolutely you are able to resist signing up for anything at the actual event. Property investors are keen to go to seminars for advice, but they rarely get …
House prices and rents are expected to rise in 2010
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 …
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100% home loan is not an easy deal
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 in Sydney’s outer suburbs rise almost 10%
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 …
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House price crash? I was hopelessly wrong on house prices!
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 …
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More people cannot pay back home loans in 2010
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. …
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Top 100 property search terms in January 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 …
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Only 2 things you need to know about property renovation
Here is what you really need to know about “adding value” by renovating – only two things: A RENOVATION MUST BE LOW-COST BUT HIGH-IMPACT: Yes it’s true that spending money on certain renovations can make a property either sell or rent for a higher amount than if that money had never been spent in the …
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Owner occupied house finance falls 5.5%
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 …