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Building Approval Fall Marks Peak Home Building Boom?

Posted: August 5th, 2014 | Author: | Filed under: Australian Home Prices, Real Estate News, Urban Planning | Tags: , , , , | Comments Off on Building Approval Fall Marks Peak Home Building Boom?

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 »»»»


Julia Gillard’s Melbourne Home Sells for $921,000

Posted: December 14th, 2013 | Author: | Filed under: Favorite New Thought, Get Out of the House, Real Estate News | Tags: , , | Comments Off on Julia Gillard’s Melbourne Home Sells for $921,000

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.

@Diana_Detox


Apartment Demand Increases as Baby Boomers Fight Gen Y For Life-style

Posted: November 27th, 2013 | Author: | Filed under: Apartment Stalker, Australian Home Prices, Real Estate News | Tags: , , , , , , , | Comments Off on Apartment Demand Increases as Baby Boomers Fight Gen Y For Life-style

Baby Boomers vs Gen YOne 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 »»»»


Australian Home Lending Growth at a Snails Pace

Posted: February 11th, 2013 | Author: | Filed under: Australian Home Prices, Real Estate News | Tags: , , , , , , | 1 Comment »

MortgageAustralia’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 »»»»


MELBOURNE’S BEST PROPERTY GUIDE

Posted: April 2nd, 2012 | Author: | Filed under: Australian Home Prices, Real Estate News, Renovation Planning | Tags: , | Comments Off on MELBOURNE’S BEST PROPERTY GUIDE

DOMAINAs Melbourne’s property market continues to stabilise, some industry experts are predicting the tide has turned for the better. But will buyers and vendors be equally convinced? In Domain Property Review, you’ll get up to date information, with an A-Z suburb-by-suburb listings guide. Plus, Domain highlights the top performing areas across the metropolitan, rural and coastal regions. If you want to find just what you’re looking for, you can’t afford to miss Domain Property Review magazine, free each weekend in The Sunday Age.

Subscribe to The Age today and save up to 60% off the newsstand price!

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