Going against the trend in Brisbane, the average price for a city apartment has gone up 23% in the past three months, and is now sitting on $894,000. Sales activity has dropped, as it has everywhere, and of the 51 new apartments up for sale few were at the lower end. Over 20% of the …
If you think house prices are high now, just wait until the really big property boom arrives! When that gets here, prices will skyrocket, according to the ANZ Bank’s senior economist, Paul Braddick. “A growing housing shortage is setting the scene for the mother of all housing booms. Underlying housing demand is already outstripping new …
The value of the popular coastal property market may start to slide with news that the Victorian Government is set to designate vast new areas of Victoria’s coastline as floodprone. This is in response to the findings of the Intergovernmental Panel on Climate Change and the CSIRO, which suggests planners should allow for a sea …
Mortgage stress is a “cancer”, says Wizard Home Loan’s Mark Bouris, and it’s moving from the battler suburbs to the affluent people in places like Bondi. A joint survey by Wizard Home Loans and Fujitsu Consulting has found that 784,000 of Australia’s 8 million households suffer from some form of mortgage stress, a rise of …
About eight weeks ago realestate.com.au started upgrading its email servers, but there was a problem and about 16% of online queries weren’t forwarded on to the respective real estate agents for up to 2 months. Agents across Australia started receiving a glut of emails last week, and promptly started contacting the potential buyers. Unfortunately some …
I keep hearing the same thing over and over again from real estate agents: too many home owners are unrealistic about the sale price of their home. A lot of them still think that prices are skyrocketing, or at the very least that their home increased in value a whole lot more in 2007 than …
According to Scott Keck, veteran property expert and managing director of property group Charter Keck Cramer, if you want a good investment grab an inner urban apartment or townhouse: “Population growth and demographic change are going to exert extreme demand pressure on apartments and townhouses, and if appropriate for higher density [redevelopment], relatively small sites …
Mortgage stress is at its highest in New South Wales, according to the Trends in Australian RMBS Collateral: 2004 -2007 report. The report analysed around a million mortgages totalling $178 billion, and found that 0.66 per cent of mortgages in NSW were 90 days past due, triple the rate of the rest of Australia. The …
According to economic forecaster BIS Shrapnel’s Residential Property Prospects, 2008 to 2011 report, demand for housing in Australia will continue to push property prices up, and interest rates may start coming down in 2009. Here’s the BIS Shrapnel property timeline, for those who want to play along at home: 2008 to 2010: rents will increase …
I was walking our local streets whilst taking my young son for a walk, and I noticed a car decked out with signage for Uhoo Property Sales, so when I got home I checked it out further. It turns out that Uhoo is a new real estate franchise that’s about to be launched around Australia …