There’s good news for house hunters with lower mortgage rates and higher wages helping to improve affordability even as house prices edged higher. A separate report, meanwhile, shows that people are staying put longer, underscoring how the property market has cooled in recent years. The Housing Industry Association-Commonwealth Bank housing affordability index rose by 0.8 [...]

Read Full Post »

Property prices won’t experience huge losses over the next three years but interest rates will rise to almost 9.5 per cent by 2014 to force buyers back onto the sidelines, a new study says.The report by BIS Shrapnel, released today, dismisses forecasts of sharp falls in prices over the short to medium term and predicts [...]

Read Full Post »

House prices have fallen almost three per cent so far in 2011 as potential home buyers choose to save their pennies rather than bid for real estate.The RP Data-Rismark Hedonic home value index shows a 2.7 per cent decline in Australia’s capital cities house prices through the first five months of 2011.In the 12 months [...]

Read Full Post »

New home building will fall 15 per cent in 2011 as interest rates and poor affordability wipe out recent stimulus-driven gains, Australia’s peak residential construction body says. The Housing Industry Association predicts 25,000 fewer homes will be built in 2011 than 2010, a downwards revision from previous estimates, according to its National Outlook for the [...]

Read Full Post »

Reserve Bank of Australia chief Glenn Stevens says he is not “terribly troubled” about the level of house prices in Australia. Mr Stevens said the ratio of income to house prices in Australia was “not exceptional by global standards” at a short question and answer session at a business lunch in London.“I don’t think we [...]

Read Full Post »

Home prices are expected to remain flat this year amid signs the slowdown in price gains could become entrenched, says the ANZ Bank. It estimates house prices will plateau this year, at just over $550,000 on average, as contending forces of rising interest rates and a strong demand for employees work themselves out in the [...]

Read Full Post »

Well reader, I have to say it, today your editor read the most ridiculous article we’ve ever read on Australia’s now-popped house price bubble.And believe me, that takes some doing.  There’s been a heck of a lot of rubbish written over the years, but the article we read today trumps the lot.What makes it worse [...]

Read Full Post »

Real Estate Institute of Victoria chief executive Enzo Raimondo urged political parties to outline how they would address Melbourne’s housing affordability in the lead-up to the state election. “According to the Australian Bureau of Statistics, 10 years ago first-home buyers represented 28per cent of the market,” Mr Raimondo said.“A year ago it was 27per cent [...]

Read Full Post »

SPRING fever hit Sydney’s real estate market yesterday with a near-record 650 properties listed for auction.Thousands of buyers flocked to bid, taking advantage of steady interest rates and a slight softening of prices.Anthony Ishac, general manager of research and valuations at Australian Property Monitors, said there had been a significant increase in the number of [...]

Read Full Post »

But there’s a lot to consider before packing your bags, writes Carolyn Boyd. Moving to the country might appeal to one-quarter of Sydneysiders but many don’t act on their desire unless a trigger arises.A recent online survey by the state and federal government’s Evocities campaign – designed to encourage city residents to move to one [...]

Read Full Post »