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2011-10-07
Your View On Real Estate
We will use this blog to keep you up to date on news and events in real estate. If we find any good links or information that can effect your property, we will upload the link here. If you make a comment, please make sure it is family friendly, and if you are quoting something that you have seen, please provide a link or reference to substantiate the comment.
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Tuesday, 24 January 2012 10:07 - Written by Jonathan Chancellor
The glut of property sitting unsold on the market means 2012 buyers could find reduced prices in capital city markets given vendors face lengthy blowouts in the number of days on market before sale. Premium housing has recorded the highest blowout in the average time on market before sale, according to a RP Data survey.
Read More...... smartcompany.com.au
The Chinese sustainable building company, Broad Group, has yet attempted another impossible feat, building a 30-story tall hotel prototype in 360 hours, after building a 15-story building in a week earlier in 2011.
22-12-2011 - Written by Michael Yardney
Economist Steven Keen is at it again. This time he’s predicting house prices will drop 5 to 10 percent in 2012.
Is he right?
Well…2012 will be a tough year for property, but before I answer the question I posed, I’d like to mention that I find it interesting that Professor Keen is only predicting a 10% drop. In the past he saw houses prices falling 40%. He made a public statement and put his money where his mouth was selling his home in Sydney a few years ago just before prices boomed.
Read More...... Propertyupdate.com.au
08-12-2011 - Written By: Michael Yardney
If you could live anywhere in the world, and money was no object, where would you choose to live? That is a question recently posed by the Sydney Morning Herald and the vast majority of readers who responded – 36 per cent to be exact – said the inner suburbs of our cities. Now this is pretty understandable given that most employment, entertainment and lifestyle opportunities, are centered in and around Australia's capital cities. But of those who would like to live close to the city, how many can actually afford to do so? Findings from a recent report, A New Lens on Housing Affordability and Market Behaviour, revealed that inner city housing is more affordable for singles and couples without children on incomes over $60,000 than it is for families on incomes of $100,000.
Read More...... propertyupdate.com.au
Friday, 02 December 2011 09:36 - Written by Patrick Stafford
The Government could be pressured into providing assistance to the housing market if building approvals continue to fall and the European debt crisis has a negative effect on lending, experts have warned. The comments come after official statistics released yesterday showed building approvals fell by nearly 30% in the year to October, as the construction industry continues to suffer under a distinct lack of demand."We were expecting a decline because that lined up with the widespread anecdotal evidence we heard through the months leading up to October – but we weren't in any way prepared for the magnitude of the decline," Housing Industry Association economist Harley Dale told SmartCompany this morning.
Read More...... smartcompany
Friday, 02 December 2011 09:40 - Written by Christopher Joye
Did you know that homes located in 80% of Sydney suburbs have actually generated capital gains of around 1% over 2011? Adding in attractive rental growth, total returns have been pretty good relative to alternatives like shares. It is only the most expensive suburbs in Sydney that have suffered price declines. These areas have endured a 3.2% fall in value over the course of the year (see the red line in the chart below).
Read More...... smartcompany
Thursday, 24 November 2011 08:41 - Written by BIS Shrapnel's Angie Zigomanis
First-home buyers represent a key driver of the residential market, underpinning demand for entry-level dwellings, which in turn creates increased demand across the market. While first-home buyers have averaged only 16% of finance for residential property over the last 20 years, they have a disproportionate impact on turnover activity and consequently prices. While the focus on the reasons for the decline in first-home buyer demand in the media has been on the impact of the rises in interest rates over 2009-10 on affordability, the majority of the decline has been due to the demand brought forward by the First Home Owner's Grant Boost Scheme. Total loans to first-home buyers have averaged around 130,000 per annum over the last five years. However, loans to first-home buyers rose to 190,000 in calendar 2009 during the operation of the boost.
Read More...... smartcompany