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 …
Property investment tips from Residex and Westpac
In a recent NSW Property Outlook Seminar given to Westpac employees by John Edwards, CEO of Residex, and Ben Richard, Senior Financial Planner, Westpac, top 5 tips for property investment were unveiled. Top 5 Property Investment Tips 1. When purchasing a property, keep it affordable (i.e. within the 30th to 60th decile of property values). Any higher …
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You can be a property tycoon for just $1?
According to an article on NineMSN Money, you can possibly become a property tycoon for just $1. But how? The article suggests that you should look towards Michigan’s biggest city, Detroit, where houses start at just US$1. Yep, according to Sydney Morning Herald, the city of car manufacturing plants, Eminem, and soaring murder statistics, is also …
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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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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 …
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 …
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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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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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 …
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 …
Beach property will make strong gains throughout 2010
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 …
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Strongest annual house prices growth since 2003
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 …
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Find out why you cannot afford a property!
Research by The Sunday Telegraph has revealed for the first time how skilled immigrants – predominantly from Britain, India and China – are forcing house prices to some of the highest levels in the world when compared with average incomes. Almost 115,000 permanent skilled visas were issued last year, compared with just over 40,000 in …
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