Archive for the ‘Property News’ Category

After recording a stellar performance over most of 2009 the Australian residential property market ended 2009 on a softer note with national home values dipping slightly during the month of December. Australian home values recorded a 0.3 per cent fall in the month of December as the seasonal effect of the summer slowdown combined with rising interest rates and fading first ...

The REIV December quarter Property Update has revealed a new record high median house price of $540,500 in Meblourne, an increase of 15 per cent from $470,000 in the September quarter. Major regional centres are also participating in the property market revival, with Ballarat performing the best of the larger towns. REIV CEO Enzo Raimondo said that Melbourne’s was the largest ...

A lack of growth is sales volumes in the Gold Coast and Brisbane has failed to stop prices surging back toward pre-crisis highs, according to the latest research. Analyst Bill Morris told the AFR that his findings - which come from an analysis of figures from the Queensland Department of Natural Resources and Water - showed average Brisbane house prices reached ...

The Housing Industry Association, Australia’s largest building industry organisation, believes final figures released today by the Australian Bureau of Statistics confirm that new residential building activity began to recover in the September 2009 quarter. The industry body remained cautious about the sustainability of the up-cycle, however, despite being confident that 2009/10 would be a healthier year for new residential construction. “First home ...

Queensland Treasurer Andrew Fraser has announced a price cap on the state’s first home owner grant, with the $7,000 in aid to only apply to houses worth less than $750,000 by mid-2010. As of 1 January 2010, legislation will kick-in that will restrict the grant to homes worth up to $1 million, but the state government has committed to going even ...

Victoria’s first home buyers have taken advantage of the increased grants on offer in 2009, with a record 53,730 Victorians buying their first home. Premier John Brumby said the state and federal stimulus packages helped to lift the figure over 20 per cent higher than the previous record. “Last year we gave an extra boost for those Victorians wanting to build their ...

A report card on the 2009 calendar year for first home buyer grants in NSW has shown record numbers entering the marketplace, assisted by generous First Home Owner Grants and low interest rates. Western Sydney was the most popular region for NSW first home buyers, accounting for seven of the top 10 suburbs where grants were received. “This is a massive level ...

The Real Estate Institute of Victoria has released results of the 2009 property market, revealing the suburb in highest demand, the suburb with the most sales and the street with the most sales. REIV CEO Enzo Raimondo said that the second half of the year has been characterised by strong demand for residential property driven by an improving economy, increasing population, ...

The number of dwellings approved rose 5.9% in November 2009 following a fall the month prior, the ABS advised today, with the news greeted by economists as a positive sign for the coming year. There was a fall in the number of houses approved (-2.0%), however this was offset by a rise in approvals for dwellings other than houses (+31.7%), with ...

Australian home prices rose by a further 1.1% in November, with 11.3% cumulative growth in the first 11 months of 2009. The encouraging performance in the wake of a downturn in the second half of 2008 was led by the two largest markets - Melbourne (+17%) and Sydney (+11.6%). Based on the RP Data - Rismark National Home Index, Australia’s housing ...