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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 ...

A leading consumer confidence reading surged 5.6% in January from 113.8 in December to 120.1 in January as consumers became more bullish on the state of the job market and largely overlooked the threat of rising interest rates. The Westpac-Melbourne Institute Index of Consumer Sentiment had fallen from highs in November and December on the back of consecutive rate rises from ...

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 ...