House price data for the UK market compiled by Nationwide shows in the 12 months to February, shows house prices fell 17.6%. This, the 16th consecutive contraction is now the biggest fall since Nationwide started to collect data in 1952. Meanwhile Standard and Poor’s have released the latest update to …
In what could be interesting legal precedent, the Sydney Morning Herald today has reports of two “property speculators” who has been given permission from a Supreme Court Judge to walk away from a contract and recover the deposit to purchase a terrace off the plan for $1.07 million. The decision …
As U.K. Prime Minister Gordon Brown calls for the return of traditional banking methods in Britain and the abolishing of 100% mortgages, Australian banks are scrambling to prevent Kevin Rudd’s First Home Owners Boost turning into a subprime frenzy. Today, the Commonwealth Bank of Australia announced the tightening of borrowing …
New data from the Real Estate Institute of WA posts a worst picture of Perth’s housing market than originally thought. On the 14th of January the Institute reported preliminary data showing the Perth medium house price closed the year at $418,000, down 11.44% from $472,000 the year prior. It now …
Mr Stevens told the House of Representative Standing Committee on Economics today that “there is considerable pent-up demand” for housing in Australia. If you didn’t know who Glenn Stevens was, you would mistakenly think he is yet another Real Estate agent spruiking their bread and butter market. But Mr Stevens …
Japan has sunk into Depression with annual GDP falling 12.7% from December 2007 to December 2008. This is Japan’s worse result in 35 years and has prompted economists to fear the worse for Australia’s chances of staying out of recession. “That in turn, I think, will make it very difficult …
The First Home Owners Boost and a rapid fall in interest rates have spurred on First Home Buyers. The official cash rate has more than halved in 6 short months from 7.25% in August 2008 to 3.25% in February 2009 as the RBA struggles to keep Australia from plunging into …
With the number of house sales falling of a clift, have you ever wondered what a Real Estate agent/professional does to fill in spare time before they receive their redundancy offers? Yesterday quality newspaper, the Australian runs an article “Mum ready to go shopping for second home” The article reports …
The ABS released its official House Price Index today for the December 2008 quarter. The Weighted average of eight capital cities fell 0.8% for the quarter, taking the yearly fall to 3.3%. On the positive, the figures were better than expected. Most economists surveyed expected a 1% fall. The fall …
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