The size of the Australian home has overtaken the U.S. to become the biggest in the world. The average size of the new Australian home is now 215 square meters, up 10% over the past decade. In contrast as the U.S. comes to grips with the worst recession since the …
New home sales fell for the 2nd month in Australia as the effects of the unprecedented financial stimulus wears off. The Housing Industry Association reported today sales of new homes fell 6.9 percent in October, following a fall of 4.3 percent in the month previous. ยป New home sales retreat: …
The Sydney Morning Herald reports there were only 2626 first home buyers in NSW in the month of October after the First Home Buyers Boost was slashed to $3,500. This is a fall of 57% from the previous month where 6079 buyers made a rush to ensure they picked up …
Australia deputy governor Ric Battellino has stolen the limelight today with comments that we have only just entered a new upswing and that our 18 years of economic expansion has many more years to run. “It is now 18 years since Australia has experienced a negative in year-ended GDP growth, …
Amid fears another house price bubble is brewing in Australia, RBA Assistant Governor Guy Debelle has entered into debate with the suggestion of regulating the size of deposits home buyers must provide banks, in a bid to prevent credit fuelled asset bubbles. Back in September the International Monetary Fund endorsed …
The Sydney Morning Herald reports : Households will begin to feel the impact of more interest rate rises, after years of racking up more debt, a report shows today. The Melbourne Institute Bulletin of Economic Trends for November flagged the increased likelihood of a Reserve Bank rate rise in December …
Some of the papers this week are running stories about sky rocking rents. Portrayed as a good thing, the reports show rents for houses in Rose Bay, NSW up 58.3%, and prices for units in West End in Brisbane up 39.4% among just some of the double digit rises. Even …
The ABC reports on a Housing Industry Association (HIA) report revealing this year marks the seventh straight year of weakness in housing starts, with Australia experiencing the longest slump in new home building in its post-war history. The HIA argues new building is being crippled by bottlenecks and that it …
The Age’s Tom Ormonde today wrote an article about the housing bubble that on one dares burst. THE phrase ”safe as houses” was always ridiculous, and not just because it’s a cliche. Bricks, mortar and gaudy imitation period features can be a good investment, but frequently aren’t, particularly when procured …
The next housing boom has begun, outstripping wages and further reducing household spending, which ultimately will put further pressure on unemployment as purse strings continue to tighten. Economists had predicted house prices would rise 3% for this quarter, but ABS data released today show a much larger boom in house …
As part of the “winding back” of the housing stimulus measures, Housing Minister Tanya Plibersek has announced there will be caps on the amount first home buyers can spend on their first pad while still being eligible for the $7,000 first home buyers grant (FHBG). From the 31st of December, …
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