House prices in Australia are being tipped to stabilise over the next six to 12 months, after posting very strong growth over the last year. The international estate agent Knight Frank has published its Global House Price Index, which ranks Australia as the fourth-fastest growing property market in the world, behind China, Hong Kong and …
An introduction to property investment strategies – Diverse portfolio is key
By diversifying their assets, investors can ensure that interim performance across their portfolio is balanced to an acceptable average. Stronger assets can support those experiencing weaker conditions. Directly owned real estate assets involve a long-term commitment and a disciplined investment strategy and so are not as vulnerable to daily fluctuating sentiment. It is commonsense to …
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Demand for home loans drop to 9-year low?
Demand for home loans fell to a nine-year low in April 2010 as rising interest rates dampen enthusiasm for housing, according to Sydney Morning Herald. However, I must say whether demand for home loans drop or increase depends on how you interpret the data from ABS. According to ABS, finance commitments for owner-occupied housing fell …
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What happens when you have unsustainable home loans?
The answer is so simple – bankruptcy! Bankruptcy is increasingly becoming a ”middle class phenomenon” in Australia, says the report from the University of Melbourne Centre for Corporate Law and Securities Regulation. Middle-class professionals and people on high incomes are declaring bankruptcy faster than ever in Australia, according to this study that reveals bankruptcies have …
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Sydney property market not hot any more?
Sydney property market has suddenly caught a cold – auction clearance rates in the past two weeks have been down and agents report fewer visitors to open houses. Properties were being passed in because buyers were reluctant to commit, said Paul Lowe, of Ray White Double Bay. ”The last interest rate rise has put some …
Is it a good time to invest in property?
The Westpac-Melbourne Institute consumer sentiment index for May fell 7 per cent to 108 index points. The confidence of respondents with a mortgage fell 8.1 per cent in May compared with average falls of only 2.3 per cent in response to the five previous rate hikes, the survey showed. So is it a good time …
Investment property loan rising by 3 per cent in March
There is more evidence of investors returning to the property market, with the value of investment finance rising by 3 per cent in March. There has also been a fall in the number of owner-occupier home loans approved during March. Australian Bureau of Statistics (ASX: ABS.ax) figures show a 3.4 per cent slide in March …
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House prices surge by 20 percent in the past 12 months
Capital city house prices rose by 20 percent in the last 12 months to the end of March 2010 according to ABS. The Australian Bureau of Statistics (ABS) said prices rose by 4.8 percent in the last three months with Sydney and Melbourne leading the way with rises of 5.3 and 6.7 percent respectively. That …
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Property prices up 4.2% in March quarter
Property prices ware up by 4.2 per cent across capital cities in the March quarter, a new survey says. The RP Data – Rismark Hedonic Home Value index, released on Friday, said property prices in the capital cities rose by an average 12.5 per cent in the year to March 31. Rismark chief executive Christopher Joye said …
House price growth set to slow in 2010
A new report has found that growth in house prices is set to slow in 2010 due to rising interest rates and falling housing finance figures. The Australian Property Monitors’ Quarterly Housing report shows that national median house prices grew just over 3 per cent in March and there was an annual growth rate of …
Please put 2 percentage points buffer when you buy property
According to Macquarie Group interest rate strategist Rory Robertson, you should at least put 2 percentage points buffer on your home loan interest when you buy your dream home. ”Indeed, another 2 percentage points worth of higher mortgage rates over the next couple of years wouldn’t surprise,” he said. The Reserve Bank today released the …
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Median house prices in Sydney and Melbourne
The median price of a Sydney house rose 13.4 per cent to $641,000 in the year to March, below the 17.7 per cent increase in Melbourne, according to the Residex property research group. Price growth for units was also lower in Sydney, 10.3 per cent annually to $449,000 compared with 16.6 per cent to $432,500 …
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No slow down for Melbourne property market
Melbourne property market continued its incredible run at the weekend and because of strong demand, shows no signs of slowing. This weekend, 739 out of a reported 875 auctions resulted in a sale, producing another high clearance rate of 84 per cent. Though it’s usually the weakest quarter, the first three months of 2010 were …
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House prices will increase because of the new tax breaks for savings?
In a bid to encourage Australians to save more money, the Rudd Government is set to unveil a tax break for bank saving deposits. According to the Daily Telegraph, this new scheme would offer tax concessions on savings similar to superannuation’s discount rate of 15 per cent. This new offering is a component of the …
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7 precent rent increase in 2010?
A property forecaster says rents are likely to climb between 6 and 7 per cent this year, after stagnating last year. The rental report by Australian Property Monitors shows average capital city rents increased by only 2 per cent last year but have already gone up 1.5 per cent in the first three months of …