Australia has added a little in deficit of 400,000 heads to its population kitty over the last year. Places like Tasmania, Canberra and South Australia have not seen any appreciable population growth, one that has been witnessed by areas like NSW, Queensland, Victoria and Western Australia. Pete Wargent for the Property Update states that Western Australia has added most to its kitty when seen in terms of percentage hike.
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First Home Buyers Keener, Houses Win Against Apartments
I am quite happy with the recent surge in first home buyer (FHB) involvement in the Australian property market. They have laid low for a long time now but in the last three months or so, there has been a 50% increase in their flock. Petra Sprekos for the Real Estate View observes the trend.
What’s Happening to Sydney Home Prices?
Pete Wargent finds RP Data’s Daily Home Value Index ‘entertaining as always” and he believes that the capital cities are showing really promising signs, just the information that RP Data yields. In an article for the Street News, he talks about the Sydney property market in high regard.
Sydney auction clearance rates continue to impress
Sydney’s auction clearance rates continue to impress. The capital city has posted a figure of 86.1% for the third weekend of September. Especially impressive is the figure for the Sydney Inner West- a mammoth 95% clearance rate, reports an article on Your Investment Property.
The western suburbs are doing almost as well though the auction numbers aren’t that high there. Also, 91% clearance rate for the Upper North Shore was a tad higher than 84% recorded by Canterbury and Southern Sydney. For records, Northwest has clocked a tidy figure of 81% too.
You can read the original article here.
How close to 100% do you think Sydney’s clearance rates can reach, knowing that there is nothing called a 100% clearance rate?
Australian Real Estate Compensates Well For Mining Bust
Contrary to speculations, RBA has kept the cash rate unchanged in September. Resting at 2.5%, it has already seen a decline of 225 basis points since November 2011. RBA governor Glenn Stevens believes that the monetary policy setting is “appropriate” and does not warrant further reduction in cash rate, reports Michael Masterman for The Advisor.
Election results have also witnessed a rise in consumer sentiment and more of them are optimistic about the economic prospects of the country. In fact, nearly 3% more respondents (to a survey) believe that Australian real estate is a nice place to invest in (since a survey was last taken out in last September).
For some time, Australian economy may perform below trend and this is largely due to the fizzing out of the mining sector. Having said this, the property market is giving fairly positive signals and the response in capital cities has been especially heart-warming. Perhaps the only cause for concern is the decline in new home construction.
You can read the original article here.
Do you think inflationary pressure will set in once the interest rates climb close to 5%?
House And Unit Sales Put Up Inspiring Numbers
Interest rates are low and I don’t need to tell you this. Triggered by such low rates, both house and unit sales have registered heartening numbers for the financial year 2012/13. Cameron Kusher for the Property Update reports about RP Data’s statistical estimates.
