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: October 14th, 2013 | Author: Verity Penfold | Filed under: Australian Home Prices | Tags: Australian Home Prices, Australian Property Market, Business News, Home Loan, Mortgage, RBA, Real Estate News, Renovation Planning, Reserve Bank of Australia | Comments Off on Demand Slips for Aussie Home Loans as Buyers Exit the Market
Demand for new home loans by owner-occupiers has slipped backward for the first time this year, first home buyers are deserting the market, official figures show.
The Bureau of Statistics Housing Finance data shows that the number of new mortgages to owner occupiers dropped by 3.9 percent in August to 49,912, seasonally adjusted. The value of loans to property investors held steady.
In the three months to August, the number of loans to owner occupiers for the construction and purchase of new homes rose by 0.3 per cent and was 13.3 per cent higher than the same period in 2012.
This included a 0.2 per cent increase in the number of loans for the construction of a new dwelling during the three months to August, with lending in this segment up 3.6 per cent compared with the same period of 2012. The number of loans for the purchase of new homes was 0.6 per cent higher in the three months to August :: 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: January 16th, 2012 | Author: Michael Courtenay | Filed under: Australian Home Prices, House Stalker, Real Estate News | Tags: Australian Property Market, Business News, Business Spectator, Property News | Comments Off on The Housing Crash That Wasn’t
Andrew Harvey from Business Spectator has a superlative rundown on The Housing Crash That Wasn’t: Another year has passed with portents of doom and gloom regarding residential property prices yet again proving incorrect. The latest information available for 2011, RP Data-Rismark’s seasonally adjusted hedonic price series for November last year, shows that median dwelling prices returned to growth. Price gains, albeit extremely modest ones, were posted for capital city home values (up by 0.1 per cent) and for regional home prices (up by 0.3 per cent) in the month. While one data point does not a trend make, it does represent the first increase in dwelling prices since December 2010. As the November 2011 result follows a period of controlled price moderation that has been in place since the middle part of 2010, it provides some hope that the worst of the residential property market slump may now be behind us. Over the year to November 2011 house prices in the capital cities declined by 4.3 per cent (year on year) and unit prices in the capital cities fell by 1.1 per cent.