New home sales posted their biggest monthly fall in five years in June, amid weakening confidence in the economy and worries about higher interest rates.New house sales dropped sank 17 per cent in flood-disrupted Queensland and 10 per cent in Victoria. New South Wales saw a more modest drop of 1.8 per cent for the [...]

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A FEDERAL crackdown on overseas buyers who have sought to purchase homes contrary to foreign investment rules has stopped 15 transactions since it was announced nine months ago. Three were in Sydney, with other sales thwarted in the Byron Bay district, the Gold Coast, Melbourne and Perth. The most expensive was a $6.4 million house [...]

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Home owners are starting to feel the squeeze of successive interest rate rises, and new home development is cooling. Figures released by the Housing Industry Association yesterday show that new home sales fell by 0.2 per cent in November.It deepened a 2 per cent drop over the three months to November, and sales were down [...]

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Prices for property in Western Australia have dipped by 30 percent based on information released by the Real Estate Institute of WA.Now is the best time to buy property in the area. In Perth alone, there is a 40 percent oversupply of property, forcing sellers to either agree to a lower price or wait when [...]

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The inclement weather Saturday did not affect demand at this weekends auctions with a clearance rate of 67 per cent recorded.This is a good result in light of the fact that this weekend has a higher number of auctions than the comparable weekends in the past 5 years.There was a total of 343 auctions reported [...]

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MOSMAN, in Sydney, ranked as the suburb to record the highest dollar value of sales in the year to July 2010 – almost $851 million. Research group RP Data has published a survey ranking the country’s top performing suburbs. Using the total value of property sold for the year, the suburb of Brighton ranked highest [...]

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INVESTOR confidence in the Asia-Pacific region rebounded in the third quarter with improving business sentiment and market fundamentals. This, according to a report from Jones Lang LaSalle.In the Jones Lang LaSalle Market Perspective for October, the real estate agency said sales volumes were up by 12 per cent on the quarter.Sovereign wealth funds and pension [...]

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HOME buyers were spoilt for choice at the weekend but clearance rates held steady despite the bumper crop of auctions. The number of homes scheduled to go under the hammer ramped up to more than 1000, making it the city’s biggest weekend for residential property in more than two years.A total of 594 properties sold [...]

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The Perth real estate market has experienced a winter of discontent, with property prices dropping 4.8 per cent in the three months to August, according to RP Data-Rismark. The real estate consultancy said the Perth market was the worst performing of all capital cities last winter, with the homes around the nation averaging a 1.2 [...]

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With Australia’s residential property sector finally coming off the boil, investors should be set to head back into the market to take advantage of easing demand and weakening buyer competition. But while owner occupiers and first home buyers are fast disappearing from the market, the latest figures from the Australian Bureau of Statistics show that [...]

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