According to some real estate agents, if the Federal Government ends the First Home Owners Grant on June 30 2009, the real estate industry will grind to a halt. Remax real estate agent Peter Secco has been working in my local area for 25 years. He’s seen property prices and the industry go up and …
Housing affordability in Australia is currently the best it’s been since 2003, leading to a gentle surge in the number of first-home buyers grabbing a real estate bargain. “For would be first home buyers, conditions have improved significantly and clearly many Australians are taking up the opportunity to get into home ownership. Cuts with interest …
Property prices in Australia have dropped slightly over the past 12 months, although the estimated percentage change depends on who is gathering the data. According to the Australian Bureau of Statistics, prices across Australia fell by 3.3 per cent in 2008, whilst Australian Property Monitors report an 8 per cent price drop. Either way it’s …
An article in The Age newspaper in Melbourne (“Cheaper areas escape big cuts”) talks about the 10 per cent drop in the median house price in Victoria’s capital, and the relative stability in properties priced under $350,000. But what got my attention was this little statement: “( Eastern suburbs agent Peter Bennison) said the number …
Has the Gold Coast market hit the bottom of the cycle? Are good times ahead? Owners of a beachfront property on the Gold Coast rejected an offer of $14.5 million just six months ago, after having it valued at $17 million. “We can do better than that!” they thought. But today that piece of “real …
Despite recent price drops of between 5 and 30 per cent, Aussie real estate remains amongst the most unaffordable in the world. A comparison of median house prices with median household incomes found that the Sunshine Coast in Queensland was the least affordable area, ahead of the Gold Coast, ranked third, Sydney, in fifth place, …
It’s a funny market right now, and no-one really seems to know what’s going to happen over the next 12 months. We’ve spoken with a few agents today who have said that it’s unusually quiet, even for this time of year. People seem to be treading very cautiously, not knowing which way things will go. …
New figures from the Bureau of Statistics show the number of dwellings built in the three months to September 30 slumped to a seven year low. Is this a sign of struggling times ahead for the construction industry, or is it just a minor drop before things start to climb again? It’s really hard to …
Times are tough for Australia’s real estate agents. A report in the Brisbane Times suggests that there are many, many real estate agents leaving the industry in Brisbane. I also know that some offices are closing down altogether, or merging with their competition … even some of the big names in real estate are shutting …
The official interest rate in Australia came down a full 1 per cent yesterday, the third such drop in 3 months. Clearly the Reserve Bank recognises that these are tough economic times, and they’re trying to do all they can to keep Australia out of a recession. Of course, none of this was anticipated by …