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 »»»»
Is this the best looking fence ever!? I think so, tucked away in the narrow side streets of St Kilda – Melbourne – this gem of a fence would look right at home on a beach, the whited out workers cottage will have to do though :: Read the full article »»»»
The Housing Industry Association – HIA – New Home Sales Report found that sales of new detached houses jumped 6.4 per cent around the country, with a stronger rise of 10.3 per cent in sales of new units pushing the average for all new home sales higher to 6.9 per cent.
Cripes, theres just no pleasing some people!? Sales of new homes rose significantly in April as buyers in Victoria rushed into the market before the axing of that state’s first home owner bonus. In Victoria, the number of new homes purchased surged by 17 per cent before the first-buyer bonus expired.
While Victoria basked in the sunshine news, South Australia didn’t fare so well, April 2012 saw a further decline in the number of new home sales in the crow eating state, down 5.9 per cent. The HIA report says that the May decision by the Australian Federal Reserve to cut interest rates by half of 1 per cent should encourage prospective buyers, but given the extent of the declines in new homes, interest rate cuts can’t be expected to do the heavy lifting :: Read the full article »»»»