The federal government has no idea how many Australian properties are being snapped up by foreign buyers. According to the Sydney Morning Herald, a government analyst confirmed that no data has been kept on purchases since the administrative changes to the foreign investment laws opening up the flood gates to …
In a bid to further restrict the speculative housing bubble in China, the central government has raised the minimum deposit for families purchasing a second home from 40 to 50% and set the minimum deposit for First Home Buyers purchasing property that is larger than 90 square metres at 30%. …
According to data released from the Real Estate Institute of Victoria, the Melbourne median house price fell two percent in the March quarter. This comes amid claims the market was glowing white [hot]. On Tuesday this week, the Sydney Morning Herald said buyers were retreating from the Melbourne property market …
The China Daily has reported on a 467 percent increase in trading volume for Shenzhen second hand houses in March as speculators headed for the exits. The report from the Wuhan Even News on Friday even suggested that some investors have hundreds of homes for sale. » Speculators leaving Shenzhen …
Figures from the Reserve Bank of New Zealand show the number of mortgage approvals in the first quarter of 2010 was down a record 30 percent over the same time last year. The overall value of loan approvals fell 25.2 percent to just $578.2 million. » Home loan approvals take …
Official figures out today from the Australian Bureau of Statistics show home loan approvals fell 1.8% in February, the fifth consecutive fall. This has prompted some economists to forecast house asset price falls in the next coming months. According to the Sydney Morning Herald, Matt Robinson, an economist from Moody’s …
The Adelaide Advertiser today published figures from the Valuer-General showing the medium house price in Adelaide is now $405,000. The Advertiser expresses concern of its sustainability, writing “Property owners have benefited from the 243 per cent increase in housing prices over the past 10 years, but those seeking to enter …
Last week, the China Daily reported that predictions of China’s housing bubble crashing in 2011 had flooded the Internet after a comparison was made between China’s runaway property market as that of Japan in 1991. The correction in Japan’s market caused a depression and 20 years of pain. According to …
The Reserve Bank of Australia has today raised the official cash rate from 4 per cent to 4.25 per cent and says there is more to come. In a media release following the rise, the RBA said “Interest rates to most borrowers nonetheless have been somewhat lower than average. The …
Housing Minister, Tanya Plibersek indicated in a interview with the 7:30 report, that one of the objectives of the First Home Owners Boost was to keep the construction sector strong. According to Plibersek, the construction sector accounts for about 9% of employment in Australia. But as predicted, when the government …
According to statistics released by the China Land Survey and Planning Institution, house prices in China increased 25 per cent in 2009, the biggest increase since 2001. However, data from the National Bureau of Statistics suggest house prices only rose 1.5 per cent in 2009, a five year low. While …
Any doubt Australia was not experiencing an ever accelerating housing bubble was squashed yesterday, when RP Data – Rismark released house price data for February. In Darwin, Residential Property (Units & Houses) increased 19.7% for the year to February 2010. This was closely followed by Melbourne (19.3%), Canberra (14.7%), Sydney …
In a press release issued by the Real Estate Institute of Australia (REIA), REIA president, Mr David Airey said he was stunned to hear RBA Governor Glenn Stevens tell Channel 7 Sunrise viewers that “property was no longer the easy path to prosperity”. In substantiating his claims that property can …
Glenn Stevens, Governor of the RBA made his strongest indication the reserve bank is worried by Australia’s surging property bubble in a prerecorded interview on Channel 7’s Sunrise. He said “I think it is a mistake to assume that a, you know, riskless, easy, guaranteed way to prosperity is just …
In his speech on Friday to the ACI2010 49th World Congress, Reserve Bank of Australia Governor, Glenn Stevens used the analogy that the global financial system had suffered a near death experience and is now beginning to recover gradually. “The global financial system is gradually recovering its poise, after a …
With mortgage approvals in Australia falling of a cliff, and Real Estate agents reporting such a strong property market at a time when the market is flooded with near record levels of listings, one has to ask who is buying? Mortgage approvals in Australia are down 21 percent from its …
Figures from the Australian Taxation Office shows Australian Residential Property Investors collectively raked up losses totaling $8.6 billion dollars, in a bid to avoid $4 billion in Tax. The $8.6 billion dollar loss is a increase of 35 per cent over the previous year with Queensland and NSW attributing to …
The Housing Industry Association (HIA) has this week released a report showing Australia’s housing “shortage” will quadruple if we don’t act now and increase the number of homes being constructed. The group has called for another 466,000 homes to be built by 2020, with the “shortage” currently at 109,000 homes. …
Official statistics released last Thursday showing sales of existing housing in Beijing falling 38 percent and units falling 64.2 percent in a month has prompted fears that the housing bubble in China may be losing momentum. Henry Cheng, the Managing Director of New World Development Co, a Hong Kong property …
For many off the plan property investors, this year is turning into a nightmare. Many investors have brought apartments off the plan before their buildings and apartments have been built. They lay down a deposit and pay the remainder on settlement when the keys are handed over, sometimes as much …
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