News & Articles, Property & Housing
Home owners face affordability shock
Home owners in the flood ravaged suburbs of Queensland could struggle to repay their mortgages when the water begins to subside.
House prices tipped to slip in year ahead
Prices had been flat for the five months since the previous rate hike in May but slipped 0.2 per cent in November, The Weekend Australian said.
Brakes put on 2011 property prices
PROPERTY investors should expect subdued price growth in 2011, but talk of a housing bubble bursting is overrated, analysts and economists say.
Property prices to pick up in late 2011
INVESTORS and first home buyers are expected to drive up house prices by around five per cent next year, property analysts say.
Home buyers seek comfort of fixed loans
JUST under 50,000 mortgages were taken out in October - the largest number since January - and a growing number of people sought the comfort of a fixed rate loan.
Rents to rise as home building slows
Tenants in Sydney, Perth and Brisbane are likely to be slugged with annual rent increases of up to 7 per cent over the next two to three years.
Aussies keeping properties for longer
Australian home owners are holding on to their houses for longer, new research from RP Data shows.
Many Australians are keen to use an alternative to the big four, but think it is too costly to switch, new research has found.
Biggest residential building slump in a decade
Residential building slumped 6.1 per cent in the September quarter, making it the biggest quarterly fall in nearly a decade. Construction work also fell 2.1 per cent, down to $41.4 billion.
City rents to soar due to house shortages
Housing shortages could lead to rent increases of up to 7% in some capital cities over the next two to three years.
Houses prices rocket over five years
Combined property values for houses increased by a total 41% and 42% for units over the past five years, a new report reveals.
Borrowers queue up to refinance loans
HOME loan borrowers are flocking to brokers and lenders to ask about the cost of switching loans, as more lenders start to pump up their interest rates.
Be careful what you wish for on exit fees
It looks so obvious. And easy. Abolish, reduce or limit so-called 'exit fees'. What you pay to terminate your mortgage early. But usually payable, only very early, like in the first four years of a mortgage.
Affordability has improved considerably since the beginning of the year, a new report has found.
Boost to residential land market
A revival in new lot production across major centres in Australia from 2011 to 2012 is being predicted by BIS Shrapnel’s new report, Outlook for Residential Land, 2010 to 2015.
Housing bubble a myth, says Westpac
A HOUSING bubble in Australia is a myth and high prices are being fuelled by an acute property supply shortage that is likely to worsen, a Westpac study claims.
City house prices flatline, but freefall not likely
AUSTRALIAN house prices have virtually flatlined in the second half of this year, but those hoping for a sudden drop in the price of houses could be waiting a while, experts say.
House prices stable for long term
Australia’s house prices are not going up or down, and are not likely to do so for some time, a new report has found.
Median credit card debt rose by 24% over the last quarter, as households turned to their credit cards in an effort to stay on top of their mortgage repayments.
Housing bubble a myth, says Westpac
A HOUSING bubble in Australia is a myth and high prices are being fuelled by an acute property supply shortage that is likely to worsen, a Westpac study claims.
Mortgage stress hits Western Sydney hard
MORTGAGE stress in Australia is felt greatest in the suburbs, with borrowers in suburban Sydney feeling the most pressure.
Canberra and Darwin are Australia's most expensive cities to rent
DARWIN and Canberra remain the most expensive Australian cities to rent a home.
Rental markets freeze over winter
Rental growth in both city and regional markets was flat during the September quarter, according to a new report.
Property price growth slumps in coastal areas
While Australia capital cities continue to record strong property price growth, it seems the coastal cities are not as lucky.
Residential investment opportunities are swelling in Brisbane as clearance rates drop well below other capital cities, accounting firm Chan & Naylor has said.
Regional Australia set for property boost
A key pledge in Labor's agreement with independent MPs could supercharge property values in regional Australia, according to Residex's chief executive.
Housing bubble fears unfounded: CBA
Concerns that Australia is facing a housing bubble are based on “superficial or incomplete analysis”, according to the CBA.
It’s a buyer’s market: RP Data
With home values tracking sideways, many buyers may see now as the right time to step back on the property ladder, new research from RP Data has found.
Brisbane marked as city to watch
While most of Australia’s capital cities are expected to record moderated growth in home values over the coming 12 months, Brisbane has been targeted as the city to watch.
Banks blocking homeowners from funding
BANKS are denying funds to homeowners looking to upgrade and move into a bigger home.
UK homebuyers favour Australia
UK first-time buyers have named Australia as their most popular overseas destination for buying property.
The federal government and the federal opposition party have ruled out the prospect of abolishing negative gearing.
Australia short half a million houses by 2020
Australia's housing shortage is set to rocket to a shortfall of nearly half a million dwellings within ten years.
Housing values fall for first time since 2008
Dwelling values in Australia's cities have fallen for the first time in 17 months, according to new data.
Cheap inner city dwellings revealed
Home buyers looking for an affordable inner city dwelling have not missed the boat, according to new research from RP Data.
Three key drivers behind refinancing
While much of the rhetoric in the press suggests borrowers are largely refinancing for a better rate, new data has revealed that there are actually three main drivers behind refinancing activity.
Investors dominate new business
Investors continue to form the backbone of new business activity in the property market, a recent report has found.
Inner-city high rise apartments are becoming the property purchase of choice for younger buyers.
The housing market may soften over the next 12 months but prices are unlikely to drop.
Property price growth continues to ease
The rapid growth recorded during 2009 is finally slowing with RP Data figures showing Australian capital cities notching their second consecutive month of low single digit annualised growth.
Smaller Australia a double-edged sword
A new focus on slowing Australia’s population growth rate by Prime Minister Julia Gillard’s Government is set to become a “double edged sword” for homeowners.
Property sales activity not rosy in spring
Spring no longer represents the best time to sell, according to RP Data.
Australian house prices leading the world
Australia's property market is one of the best-performing in the world, says a recent survey of global house prices.
We are not in a housing bubble
Despite widespread speculation that Australia is in the midst of a housing bubble, Residex chief executive officer John Edwards has said this is not the case.
A slow-down in house price growth is on the cards, according to BIS Shrapnel.
Australia best for market transparency
The Australian property market is the most transparent in the world, according to a new report.
Railway suburbs surge in value
Property values in Brisbane suburbs that are serviced by rail have jumped by 10.3% in the 12 months to December 2009, according to PRDnationwide Research. This is compared to a 7.7% increase in property values for suburbs not serviced by trains.
Upswing tipped to run until 2012
Recent interest rate increases haven't dampened sentiment about residential real estate, with a survey suggesting property professionals believe the sector will experience an upswing through until 2012.
Despite the RBA’s decision to raise rates again yesterday, more than 70 per cent of ‘next time’ buyers believe now is a good time to purchase an investment property
Housing shortfall locking out thousands
AUSTRALIA has 178,000 more potential home buyers than available properties, with Queensland and Western Australia accounting for almost half the total shortfall over the past decade, a government advisory body confirmed yesterday.
Rising interest rates to hit renters hard
INTEREST rate rises during the next two years is going to hit tenants hard as the cost of escalating mortgage payments is passed on to tenants.
Australian homeowners eye property investment
Buoyed by the strengthening economy, a majority of Australian homeowners are now planning to invest in property, a new survey has revealed
More than two thirds of Australians are keen to reinvest in the property market.
More than two thirds of Australians are keen to reinvest in the property market.
LAND prices are growing at their fastest pace since 2004, a new report says, raising fears that a housing shortage will push up prices and rents further.
Rents set to surge in investor-dominated market
A new report by Australian Property Monitors shows that rising interest rates and property prices are forcing more potential owner-occupiers into the rental market, causing a renewed surge in rents.
The Reserve Bank of Australia has put out the call for greater construction activity, warning that a housing bubble could result if nothing is done.
We are not in a housing bubble: RP Data
RP Data’s national research director Tim Lawless has dismissed claims Australia is currently in a housing bubble.
Australia's unit markets outperformed houses as property buyers sought out affordable inner city units according to a new data.
Baton change of houses to hit $40bn
AN UNPRECEDENTED "baton change" of wealth is expected over the next 15 years as the older generation hands over as much as $400 billion worth of property to their children, a new report says.
Housing shortage set to get worse
OFFICIAL forecasts for the nation's housing shortage have worsened, with more than 100,000 prospective home buyers already locked out of the market by June 30 last year.
Property market may be overheated, RBA Governor
THE nation's top central banker has taken the unprecedented step of being interviewed on commercial television, in doing so warning property buyers not to borrow too much.
World's wealthiest investors upbeat about residential property markets
While the world's richest investors remain cautious about their investment portfolio this year, most are optimistic their residential property investment will deliver the best returns, a new report has revealed.
Property prices, rents to soar as housing shortage hits 500,000 in 2020
Growth in property prices may be easing in the short term, but investors are poised to reap big gains over the next 10 years as the housing shortage continues to worsen according to a new report.
Prosperity up, mortgage stress down: CommSec
Australians are more prosperous than ever, according to a new report published by CommSec today, and home loan affordability is at levels not seen since 2005.
Queensland's last beach shacks selling for up to $4M
THE last of Queensland's original beach shacks are facing demolition as a wave of owners who have lived in them for decades retire or pass away.
The first home buyer market is down but not out, as an increasing number of migrants choose to set up home on Australian shores.
Property prices, rents to soar as housing shortage hits
Growth in property prices may be easing in the short term, but investors are poised to reap big gains over the next 10 years as housing shortage continues to worsen according to a new report.
Wealthy buyers push prestige house prices up
AUSTRALIA'S most expensive homes are likely to rise in price by 10-15 per cent this year as wealthy locals and overseas buyers hunt for prestigious addresses in a resilient economy, according to researcher RP Data.
Lack of housing will challenge recovery - Reserve Bank
Australia is facing an under-supply of housing that isn't meeting the demands of a growing population, an RBA official says.
Housing affordability returns to long-term average
In a sign that the economy is strengthening, housing affordability has returned to its pre-GFC levels.According to Rismark’s December Quarter National Accounts report, the average Australian home price across all metro and non-metro regions is 4.6 times the average Australian disposable income
Coastal properties to see strong growth in 2010
Fewer seachangers and retirees moving into coastal areas has resulted in a generally sluggish market during 2009, but some areas defied the downturn and held up well according to rpdata.com.
Australia's property market rebounds
The worlds housing markets are mostly in recovery, and Australia just missed out on a spot on last years winners podium, with its 11.2% annual price growth ranked fourth best in the world, according to the Global Property Guides latest survey.
Healthy start to 2010 for housing market - RP Data
AUSTRALIAN house prices have made a strong start this year, defying the threat of rising interest rates.
Despite a seasonal slowdown over the January period, Australia's residential market still managed to rack up healthy gains according to the latest RP Data-Rismark Hedonic Home Value Index.
Brace for Australia's housing boom
Despite concern of worsening housing affordability brought by rising interest rates and soaring property prices, Australia's property investors could expect the current upswing to culminate into a boom within two years according to a new report.
When selling, presentation trumps renovation
Property sellers are better to concentrate on the presentation of their home rather than trying to renovate before they sell, a survey of PRDnationwide real estate agents suggests.
HOMEBUYERS and investors have nearly doubled their borrowings over the past five years, figures show.
Property investors looking to cash in on the current growth spurt in the sector should stick to the inner and middle ring suburbs to ensure high capital gains according to an expert.
Sales of houses and units surge across the board
For the first time in many years, annual sales climbed in every market area and for both houses and units according to Residex.
Investors win as rents set to rise
WITH demand for rental properties set to soar this year, experts are urging investors and renters to get in now ahead of an expected price rise.
Don't be left in the dark on renovations
NEARLY 75 per cent of homeowners expect to renovate in the near future, so it's important to remember that research and information can protect you from financial disaster.
The economic downturn over the past year is now a distant memory for most Australians, who believe the housing market is set to take off - again.
House prices at all-time high, survey shows
HOUSE prices are at all time highs in most capitals after more buying in expensive suburbs drove the strongest annual price growth in seven years.
Buyers target premium properties as confidence grows
Prime properties are back in favour with a growing number of buyers snapping up higher priced homes according to rpdata.com.
A healthy economy and higher interest rates could spark steep rent increases.
Property market ‘red hot’ in 2010
The property market is going to be ‘red hot’ in 2010, research analysts have claimed.
FHBs still eager to crack market
First time home buyers are searching for cheaper and smaller homes located further from city centres in an attempt to break into the housing market, a new survey has found.
Property prices set to rise as population growth explodes
Australia's explosive population growth shows no sign of abating.
House prices scale new heights
House prices across Australia rallied to record highs in October following moderate gains in September according to new figures from the RP Data-Rismark Hedonic Index.
Australians have the biggest homes
AUSTRALIANS have the world's largest houses, beating traditional champion the US, however the cost of renting is similarly expanding.
Landlords 'to pocket $1.9bn in extra rent'
STRONG demand for housing amid a growing population and record low levels of property construction will help to tighten rental markets considerably, pushing rents higher in 2010 and beyond, a report says.
Australians keen to invest in property market
More than 70 per cent of Australians over the age of 25 believe the time is ripe for property investment.
New boom 'could last for years'
The (Reserve) bank's quarterly review of the economy, published yesterday, has sharply upgraded its short-term economic forecasts and presented a radical rethink of Australia's growth potential.
Housing stress getting worse - experts
AUSTRALIA'S already serious shortage of affordable housing is being made worse by finance bottlenecks for multi-unit property developers, and the crunch will continue for some time yet.
House prices rise faster than expected
This compares with an unrevised 4.2 per cent in the June quarter.
Australian house values breach $400,000
The median value of an Australian house has breached the $400,000 mark for the first time, property information specialists Residex has revealed.
House prices tipped to climb 20pc
Research from BIS Shrapnel suggests house prices will rise by nearly 20 per cent in the next three years.
Wealthy still hooked on real estate
As mortgage research points to a return of property investors, the latest Asia-Pacific Wealth Report reveals that a strong appetite for real estate remains among the country's rich.
House prices lift as buyers return: 2pc rise in August
HOUSING prices around the country rose nearly 2 per cent in August, the biggest monthly increase since researcher RP Data-Rismark began its tracking in 2005.
Mortgage shoppers surge across all states
The number of people shopping for mortgages has risen in all capital cities, reflecting an increase in consumer confidence and a renewed demand for property, according to new research from Australia's leading mortgage comparison website www.yourmortgage.com.au
Resi property set to rebound: survey
Residentialproperty is most likely to lead the property market out of the economic downturn according to Australian Property Institute's latest Australian Property Directions Survey, reported The Australian Financial Review.
Median prices climb as investors return to market
Median house prices rose in every capital city during the June quarter, according to the Real Estate Institute of Australia’s (REIA) quarterly property report.
Renovators, investors drive property market
Investors and home upgraders, who economists have christened "inv-aders", are expected to drive the 2010 housing cycle.
Investors step in to fill the first homebuyer gap
The number mortgages for owner occupied homes fell for the first time in 10 months in July, dropping by 2%, but the total value of investment housing commitments (trend) rose 1.0% compared with June 2009 according to the Australian Bureau of Statistics (ABS).
Interest in home ownership rising
One in six Australians will consider buying a house in the next 12 months according to a national survey conducted by Homeloans Ltd.
Superannuation investors could fuel house price boom
AUSTRALIA could be heading for another rampant house-price boom, fuelled by cashed-up superannuation investors exploiting generous government concessions.
House prices up but bargains remain
CAPITAL city housing markets have shrugged off the global financial crisis, with values rising 5.9 per cent in the first seven months of the year, surpassing the last market peak in February last year.
Housing activity to ramp up in spring
The coming spring is shaping out to be a bumper season for agents, sellers and buyers according to new statistics from rpdata.com.
Aussie property about to ride a big wave
Australia's property sector is about to catch a wave but homeowners and investors do not need to worry about a wipe-out.
Australian house prices climb in June
National house prices rose 0.7 per cent in June after a 2.1 per cent climb in May, according to Residex data.
Housing supply well short of demand
Housing supply fell 16 per cent below demand over the 2009 financial year, a Residential Development Council of Australia report has found.
'Real' values show houses outperforming units
Even with inflation factored in, Australian dwelling values have increased nearly 200% since 1993, according to RP Data.
Recovery in new housing demand gets underway
A recovery in demand for new housing starts is now taking place, thanks to low interest rates and government incentives, according to a report.
Top end of market drags house prices lower
TUMBLING house prices at the top end are dragging the national housing market lower, despite the influx of first-home buyers.
Housing market holds up despite economic gloom
THE residential housing market kept its head above water in the March quarter, as Australia was sinking into recession.
Defying the sinking confidence of investors in late 2008, home values in many areas of the country are rising again in 2009.
Housing shortage to force prices higher
With demand outstripping supply in many areas, the housing shortage could grow even more in coming years in certain states.
Housing market poised for growth: BIS Shrapnel
Rising unemployment and the expiry of the increased First Home Owners Grant (FHOG) will not affect strong growth in first home buyer sector, according to BIS Shrapnel.
Homes most affordable in five years
THE Australian dream of owning a home is more affordable now than it has been for five years following lower interest rates and greater Government subsidies, a report says.