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Demand Slips for Aussie Home Loans as Buyers Exit the Market

Posted: October 14th, 2013 | Author: | Filed under: Australian Home Prices | Tags: , , , , , , , , | Comments Off on Demand Slips for Aussie Home Loans as Buyers Exit the Market

Demand Slips for Aussie Home Loans as Buyers Exit the MarketDemand 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 »»»»


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 »»»»


Australian House Prices Fall For Second Straight Year

Posted: January 2nd, 2013 | Author: | Filed under: Australian Home Prices | Tags: , | Comments Off on Australian House Prices Fall For Second Straight Year

Australian House Prices Slip For Second Straight Month

Australian capital city home prices have ended in the red for the second year in a row. The latest home value index from real estate analysts RP Data and Rismark shows capital city prices eased 0.3 per cent in December, to be 0.4 per cent down over the year. That is a better result than 2011’s 3.8 per cent decline.

RP Data spokesman Cameron Kusher says home prices improved slightly over the second half of 2012. “Capital city home values remain 5.7 per cent lower than their historic highs of November 2010, however, dwelling values are up 1.8 per cent from their low of late May 2012,” he noted in the report.

Hobart remained the nation’s cheapest capital city to live in, with a median price of $317,500. Prices in the Tasmanian capital were virtually unchanged over 2012, but rose 0.7 per cent in December. Melbourne had the worst price declines over the past year, with home values down 2.9 per cent, despite a 0.5 per cent rise in December. Brisbane and Adelaide saw 0.8 per cent declines over the past year, while Perth had a 0.8 per cent rise. The nation’s capital saw prices down 0.3 per cent in 2012, with Canberra home values sliding 1 per cent in December :: Read the full article »»»»


Australian Home Prices Flatline

Posted: September 4th, 2012 | Author: | Filed under: Australian Home Prices | Tags: , , , , | Comments Off on Australian Home Prices Flatline

Australian Home Prices FlatlineAustralian home prices have ended their run of gains, with a leading private sector index flat in August. RP Data’s Hedonic Home Value Index was unchanged in August for the eight capital cities, and rose just 0.1 per cent in regional and rural areas.

Capital city home prices were up 1.6 per cent over winter, but down 2.4 per cent over the past year. The biggest prices gains over the past month were in Adelaide (1.4 per cent) and Canberra (1.2 per cent), while Sydney and Melbourne posted modest 0.1 per cent increases.

Perth and Hobart had the two largest falls of 1.2 per cent, with Darwin down 0.5 per cent and Brisbane off 0.2 per cent.

RP Data’s director of research Tim Lawless said Sydney has been the most consistent performer amongst the capitals.

“Sydney dwelling values have increased over five of the past eight months providing a cumulative capital gain of 1.9 per cent over the year to date,” Mr Lawless said. “Canberra (+1.4 per cent), Hobart (+3.9 per cent) and Darwin (+8.4 per cent) have also yielded owners capital gains over the first eight months of 2012. In contrast, other capitals, like Adelaide (-1.3 per cent), Brisbane (-1.4 per cent), Perth (-2.5 per cent) and Melbourne (-2.6 per cent), have recorded tougher conditions this year.”

Mr Lawless said the price gains are an encouraging result for the traditionally quiet winter season, but the true test will be how the market copes with all the new listings that come onto the market in Spring.

“We know that there is likely to be an increase in new supply over Spring, which may introduce some headwinds for a recovering market,” Mr Lawless added. “How the market plays out over the Spring season will be an important litmus test for its resilience.”

The most expensive property market in Australia remains Sydney, with a median dwelling price of $530,000. The cheapest capital city market is Hobart, with a median price of $275,000.

RELATED: Australian Home Prices


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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