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More Pressure on First Home Buyers

Posted: March 28th, 2014 | Author: | Filed under: Australian Home Prices | Tags: , , , , , , | Comments Off on More Pressure on First Home Buyers

More Pressure on First Home BuyersLatest 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 »»»»

HIA Gloomy In-spite of Solid Sales

Posted: May 29th, 2012 | Author: | Filed under: Business and Economy | Tags: , , , , , , | 1 Comment »

HIA Gloomy In-spite of Solid SalesThe 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 »»»»

Australian Property Market; All-round Good News

Posted: January 12th, 2012 | Author: | Filed under: Australian Home Prices, House Stalker, Real Estate News | Tags: , , , , , , | 4 Comments »

Home Building Approvals Soar – New home sales jump in November: The Housing Industry Association says the Reserve Bank’s decision to cut interest rates in November helped boost sales of new homes that month. The association says the number of contracts signed for new homes rose 6.8 per cent in the month to almost 7,000. The survey of 100 builders looks at contracts for new houses, apartments and townhouses.

Home Building Approvals Soar

The Reserve Bank’s recent interest rate cuts may be helping to drive a recovery in the building industry. Figures from the Australian Bureau of Statistics show the number of homes approved for construction rebounded in November, rising 8.4 per cent in seasonally adjusted terms. The bounce surpassed economists’ expectations of a 6 per cent rise but comes after falls of almost 11 per cent in October and 15 per cent in September. Despite this result, approvals were still down 18.9 per cent compared with the same time last year. Read the full article »»»»