March 2011
Ritzy Melbourne suburbs post big home price drops
March 31, 2011 by Editor · Leave a Comment
Melbourne’s wealthy inner suburbs dropped the most in value in the September quarter last year as the state’s overall prices for houses and units declined 2 per cent, the latest snapshot from the Valuer-General shows.
Some of the biggest falls came in upmarket suburbs such South Yarra, Hawthorn and Toorak.
Williams Landing, the suburb adjoining to Laverton in Melbourne’s west, bucked the decline to be the star performer in the quarter, with homes in the area increasing in value by 47.3 per cent. (more…)
World-Beating Bonds Heading for Longest Rally Since 2007: Australia Credit
March 27, 2011 by Editor · 1 Comment
Australian corporate bonds are returning more than four times as much as global company debt this quarter as accelerating economic growth drives the longest rally among developed nations.
Bondholders have earned 2.8 percent since Dec. 31 including reinvested interest, beating the 0.6 percent gain for corporate debt worldwide and 1 percent on U.S. notes, according to Bank of America Merrill Lynch indexes. Eight straight quarters of gains is the best winning streak since 2007 and longer than the advances in the Merrill Lynch indexes of debt sold globally or in the U.S., Canada, Japan, Europe and the U.K., which all posted losses in the final three months of 2010. (more…)
New affordable housing estate in the ACT
March 27, 2011 by Editor · Leave a Comment
Canberra’s newest residential estate – built around Gungahlin’s historic Gungaderra Homestead – has provided a boost for affordable housing in the ACT, Chief Minister and Minister for Land and Property Services, Jon Stanhope said today.
“This Government is committed to ensuring all Canberrans have access to affordable and appropriate housing and the opening of CHC Affordable Housing’s newest residential estate in Gungahlin represents another success,” Mr Stanhope said. (more…)
USA and European bank recovery full of potholes
March 26, 2011 by Editor · Leave a Comment
The Reserve Bank yesterday produced a generally optimistic appraisal of the Australian financial system’s recovery from the global crisis, but its portrait of the challenges the big money centre banks in the US and Europe face was much more downbeat.
US big bank profits rose by about 40 per cent last year, the 10 largest European banks boosted earnings by about 50 per cent and, as with our banks, lower bad loan provisions were the driver. (more…)
Australian property sales show 21% decline over 12 months
March 22, 2011 by Editor · Leave a Comment
Real Estate Institute of Australia (REIA) President, Mr David Airey, says activity in the property market continues to decline with residential sales falling 21.8% in the twelve months to December 2010.
“The number of sales fell 10,353 from 47,597 in the December quarter 2009 to 37,244 in the December quarter 2010,” said Mr Airey.
Property listings have also increased 29% over this period of time and property listings are at an all time high. What does this all mean?
The Australian property market is in decline and preparing for more interest rate rises in 2011. Residential real estate is unaffordable for first home buyers and home buyers. It has become a buyers market and expect lots of bargain hunting. Prices are likely to fall. It will be an interesting 2011 and 2012. Read on… (more…)
Australian property listings at all time high. This means…..
March 20, 2011 by Editor · Leave a Comment
The number of properties listed for sale in Australia recently hit an all time high, new research has found.
According to RP Data findings, total advertised listings are now 24.2 per cent higher than they were at the same time last year. Within capital cities, listings are 29.1 per cent higher than last year.
But despite the positive news, research analyst Cameron Kusher said there is clear disconnect between the number of properties being brought to the market and the activity amongst buyers (more…)
First home buyers handouts in rich Australian suburbs. What tha?
March 20, 2011 by Editor · Leave a Comment
The first-homebuyer’s grant is being used to buy hundreds of prestige properties valued at up to $750,000 in expensive Perth suburbs, including Mosman Park, City Beach and Cottesloe.
Answers in Parliament reveal 2244 homes valued at between $500,000 and $750,000 were bought using the $7000 grant in WA last financial year.
The Government-assisted purchases included 18 in Claremont, 11 in Nedlands, 45 in Como, 16 in Mt Lawley and 15 in Mosman Park. (more…)
Australia’s housing market the most over priced in the world – but is a crash really on the cards?
March 17, 2011 by Editor · 1 Comment
Housing bubble, affordability crisis, over-inflated markets, growing million dollar medians… the list of less than flattering descriptions for Australia’s housing market continues to grow, as both local and overseas media outlets fuel speculation as to the state of our residential real estate sector.
Some suggest we are heading for a price crash comparable to that experienced in the US during the GFC, or more recently in Ireland, where the housing bubble caused a monumental collapse in local property values. (more…)
The million dollar suburb club grows in Australia. Is the data reliable?
March 17, 2011 by Editor · Leave a Comment
While value growth across the Perth property market slumped significantly over the past 18 months or more, results out today confirmed that a 35% growth in the million dollar property market in 2010 has given the city a boost with Peppermint Grove still Australia’s most expensive suburb.
The following RP Data media release promotes RP Data statistics and million dollar suburbs. A critical question to ask ‘is the data accurate and reliable?’ As Australian property sales data are not subject to professional standards legislation or financial services license . The data below could be beefed up? Read on…. (more…)
South Sydney In The Spotlight After $29 Million Sale
March 13, 2011 by Editor · Leave a Comment
Leading Australian property development and investment company Capital Corporation has staked a claim on South Sydney with the $29 million purchase of the Sydney Airport Centre at Mascot.
Battlers shut out of Canberra’s house market
March 13, 2011 by Editor · Leave a Comment
Working people are battling to gain a foothold in the Canberra property market, while rich investors are reaping big rewards.
Bankwest’s latest key worker housing affordability report shows police, teachers, nurses, firefighters and ambulance officers are struggling to buy a home.
In five out of six inner south Canberra suburbs, the median home price is $1 million or higher. In the new Gungahlin suburb of Harrison, the median price for homes and units is $550,000. (more…)
Perth workers priced out of the market as WA’s most ‘affordable’ suburbs & towns revealed
March 13, 2011 by Editor · Leave a Comment
They’re the workers we rely on to provide essential services, but they are priced well out of Perth’s property market, according to a new survey.
The Bankwest survey of housing affordability for WA’s 46,000 police officers, nurses, emergency workers and teachers found that if they want to get an affordable rung on the property ladder, they need to move to Perth’s extremities – or even out of it.
The survey uses a cut-off point of five times the average salary to determine whether an area is affordable or not. (more…)
Reserve Bank of Australia boss not worried about house prices
March 13, 2011 by Editor · Leave a Comment
Reserve Bank of Australia (RBA) chief Glenn Stevens says he is not “terribly troubled” about the level of house prices in Australia.
Southeast Queensland median house prices to hit $1 million in seven years
March 13, 2011 by Editor · 1 Comment
The median house price in Brisbane is tipped to hit $1 million within seven years. The Gold Coast will follow in 2025 and the Sunshine Coast four years after that.
The projections are based on detailed suburb-by-suburb analysis of the changes in values over the past five years by the Real Estate Institute of Queensland.
Currently, just five of Brisbane’s 138 suburbs have a median price of $1 million-plus: Ascot, Hamilton, Pullenvale, St Lucia and New Farm. (more…)
Rich pickings as Noosa’s mansions going for a song as buyers retreat
March 13, 2011 by Editor · Leave a Comment
As far as top-end real estate goes, these are rich pickings – Noosa’s property market is brimming with luxury bargains due to an oversupply of stock and undersupply of buyers.
As pressure mounts on sellers some under siege from banks prices of homes in the iconic playground for the rich and famous have dropped.
Prominent agent Tom Offermann said that for “those with confidence” this was a defining moment. “You can buy well and reap the rewards,” he said. “Stock is up 20 per cent on normal levels, buyers are down about 30 per cent and there’s good value.” (more…)
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