That sector was led by investor credit, which jumped 10.1 per cent over the past year, including a 0.9 per cent rise in December :: Read the full article »»»»
The number of dwellings approved for construction has jumped in the latest official figures. The Bureau of Statistics estimates that more than 17,000 homes were approved in October, seasonally adjusted, an 11.4 per cent increase on the previous month.
That recovered the ground lost in September, when approvals fell around 11 per cent. Apartment approvals entirely drove the latest result, jumping by more than 31 per cent as house approvals fell marginally.
The Housing Industry Association is encouraged by the rise in the number of dwellings approved for construction. HIA senior economist Shane Garrett said approvals have been volatile lately, but there are still healthy signs for the sector :: Read the full article »»»»
Latest figures from the Housing Industry Association – HIA – suggest it will become even harder for first-time buyers to enter the housing market, according to the report affordability has waned, and 2014 is likely to see further gains in residential property prices, locking out more first timers.
The HIA’s Affordability Index eased by 0.5 per cent in the December quarter, as the impact of previous interest rate cuts declined. Hobart reported the biggest fall of the capital cities, with a 9.2 percent drop. That was followed by Sydney, down 4.4 percent, Perth, 2.5 percent, the ACT 1.2 percent and Brisbane 1 percent.
However affordability in both Melbourne and Adelaide rose by 5.5 percent during the quarter, the HIA report suggests that addressing the supply of affordable housing is one of the most prominent policy challenges facing all levels of government. In a separate report, population growth has also put pressure on housing affordability :: Read the full article »»»»
The Socio-Economic Index generated by the 2011 census measures people’s income, type of employment, housing and broadband access in different locations across the country, Dr Gould from the Australian Bureau of Statistics – ABS – says the data can be used by state and local governments to help better target support programs.
The data can be downloaded from the Australian Bureau of Statistics website for use in Google Earth, which interprets the data using Google maps. The small riverside suburb of Peppermint Grove in Perth has been ranked as the country’s most well-off council area, closely followed by Ku-ring-gai in Sydney’s affluent north :: Read the full article »»»»