Posted: August 5th, 2014 | Author: Michael Courtenay | Filed under: Australian Home Prices, Real Estate News, Urban Planning | Tags: Australian Home Prices, Homes For Sale Melbourne, Melbourne Property, Real Estate News, Sydney Investment Property | Comments Off on Building Approval Fall Marks Peak Home Building Boom?
Official figures from the Australian Bureau of Statistics – ABS – on new home approvals have raised questions over whether the building boom is peaking. The ABS figures for June show 15,659 new dwellings were given local government go-ahead that month, down 5 per cent from the month before.
Despite the fall, which was more than twice what economists expected, dwelling approvals are still up by a massive 16 percent on the same time last year. The notoriously volatile apartment approvals figure, which is frequently skewed by large developments, fell 10.5 per cent in June, but still remains more than 23 per cent above last year’s level.
Detached house approvals fell a more modest 2.2 per cent at the start of winter, but are also up a more modest 13.1 per cent over the past year. The Housing Industry Association, which represents residential builders, says slow land release is likely to have capped the most recent construction boom.
Despite the downturn in new builds, home prices surged as the real estate market recovered from it’s autumn slump. Overall Australia’s home price boom shows little sign of slowing, with Sydney and Melbourne again driving price gains after a brief lull :: Read the full article »»»»
Posted: December 14th, 2013 | Author: Diana Detaux | Filed under: Favorite New Thought, Get Out of the House, Real Estate News | Tags: Australian Prime Ministers Home, Julia Gillard, Real Estate News | Comments Off on Julia Gillard’s Melbourne Home Sells for $921,000
The Melbourne home of former Australian Prime Minister Julia Gillard has sold for more than $300,000 over the asking price. Several hundred people attended the auction of the house at 9 Medford Street in Altona, in Melbourne’s west.
Bidding began at $500,000 and reached $921,000 after half an hour of spirited bidding. Ms Gillard owned the house for 15 years. She and her partner Tim Mathieson moved to Adelaide after vacating The Lodge earlier this year. The median house price for the area is $535,000.
Posted: November 27th, 2013 | Author: Diana Detaux | Filed under: Apartment Stalker, Australian Home Prices, Real Estate News | Tags: Aged-care, Apartment Living, AUSTRALIA, Australian Property Market, Population Demographics Government Policy Politics, real estate, Seniors, Urban Development Planning | Comments Off on Apartment Demand Increases as Baby Boomers Fight Gen Y For Life-style
One of the most significant social changes in the past 30 years has been our aging population, over the coming decades this aging will polarize, affecting not only the lifestyle choices of the greying population, but the economy of successive generations as well. As Baby Boomers seek to downsize responsibility, are they biting at chunks of the property market also sought-out by Gen Y?
A decade ago a house on a quarter acre block might have been the dream lived out by the average Aussie Baby Boomer, but new research suggests they are increasingly looking at apartment living, the same corner of the market chased by their grandchildren.
Policy-makers, planners and developers need to get creative as two generations converge on the same portion of an already under-stress property market.
The Australian Bureau of Statistics – ABS – projects that population growth will see an even higher demand on housing, the converging generations – Baby Boomer vs Gen Y – has the potential to kick-start a steep rise in apartment prices unless developers start planning for seriously increased demand :: Read the full article »»»»
Posted: February 11th, 2013 | Author: Michael Courtenay | Filed under: Australian Home Prices, Real Estate News | Tags: Australian Property Market, Business News, Home Loan, Mortgage, RBA, Renovation Planning, Reserve Bank of Australia | 1 Comment »
Australia’s Reserve Bank – RBA – figures indicate that Australians are taking out home loans at the slowest annual pace ever recorded, suggesting that the property downturn may be far from over.
Figures from the RBA show total lending to the private sector grew 0.4 per cent in December, with the amount Australians borrowed rising by only 3.6 per cent in 2012. It’s not all doom – though mostly – the RBA data shows housing credit remains the most consistently robust category of borrowing, with a 4.5 per cent rise over the 12 months.
But, that annual housing credit growth rate is the slowest in RBA recorded history, admitedly the figures only go back to 1977.
Home lending growth of 0.3 per cent in December is also one of slowest monthly increases recorded :: Read the full article »»»»
Posted: April 2nd, 2012 | Author: Michael Courtenay | Filed under: Australian Home Prices, Real Estate News, Renovation Planning | Tags: Domain, Melbourne. The Age | Comments Off on MELBOURNE’S BEST PROPERTY GUIDE
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