20. September 2014 00:01
“The Bank for International Settlements (BIS) released residential price statistics for most developed countries around the world- (Australians struggle with world’s second largest housing bubble.)”
Australia’s property market boom continues unquenched. Property price rise, housing costs rises and falling rates of housing affordability, the data shows. House and rental price instability has significant consequences for the broader economy because it generally reinforces economic volatility. All Australian households were experiencing housing stress because house price and rent increases. Therefore, we need to have better development strategies in order to have satisfying housing needs and well planned management on how to sustain the market.
20. June 2014 23:54
According to IMF Deputy Managing Director Min Zhu, “housing is an essential sector of very country’s economy and has systematic implications, which is why we at the IMF are focusing on it not only individual countries but on a cross country basis.” Australian house prices are among the top five most expensive in the world. The latest figures from RP Data reveal as at the end of May, Sydney is the highest median dwelling price of $678,500. Darwin is the next highest median price of $560,000 with 9.9% increase every year and followed by Perth which has 5.7% increase to $525, 000. Because of the increase, it doesn’t make the house price sustainable. Housing booms are still being developed and we need to be cautious on property price.
28. March 2014 17:55
Should we worry the Economy? Market conditions were to further house prices gains. Interest rate is on hold which is low. The current pace of growth is likely to hit.
According to Australian Bureau of Statistics (ABS), “gross Domestic Product (GDP) growth through 2013 is 2.8%, in seasonally adjusted terms.” It shows that Australia’s economy grew and expected to rise. Domestic final demand rise by 0.1% which is good to experience. Australia’s economy was about to embark on the mining investment boom which boost the Australian income. In order to have strongly rising income, we need to have strong employment growth.
21. January 2014 18:08
Based on the Demographia’s 10th Annual Survey of house prices-this one covering 360 cities in nine countries-“Australia imperiously blitzing all opposition other then Hongkong in house prices.” Nowadays, Australia house prices are even higher than these of Singapore. In Sydney a standard “22square” costs $130,000 and median price of a house is $723,000 and in Melbourne it approaches $600,000. Australia leads the world of having an expensive house prices. Across in all capital cities in Australia was increase and of course Investors interest are rising in housing market. If that will continue to happen, housing price bubble.
25. November 2013 18:31
Because of the devastation of bush fires hundred of homes lost and selling of house in Australia stopped. Many of the owners have insurances that make them to start to build a new home. Did the bush fire affects the market softens?
According to CMC markets Chief Market Strategist Michael McCarthy, “Clearly overseas leads have broken the back of the recent pessimism.” After the bush fire which made the share market fell down. Australian market opens higher because of the strong performances by some commodities. Community strength sets the market to open higher. The economy is clearly improving and recovering. Probably, we will be ended in a good and sustainable market.
25. October 2013 17:36
In Australia, most individuals is usually renting because it is cheaper than buying in terms of monthly cash flow. It is good to say that we need to wait will when the house prices become cheap. Nowadays, house prices slightly increasing and housing market is swinging. Are those activities signs in buying a house?
According to the Economist Nicholas Gruen, CEO of Lateral Economics and chair of Peach Home Loans, “Now is a good time to decrease your exposure to shared, and look at increasing your property portfolio in the next few month.” Australian market is stronger now compared with previous quarters. Economists believe that this is a good time to get into the property market. House rent is affordable and I think market performs well that encourages investor and developer to renew and invest.
17. January 2013 18:28
Some are expecting to have an increase of house prices in Australia. Although, not all the state of Australia have the same market but some are continuing to rise and some are continuing to decline.
According to forecasts from credit rating agency Fitch, “The Australian housing market is expected to be among the more stable global markets in 2013 but house prices won’t rise.” Australian market is more stable now compare to other nearby country. We have relatively high affordability indicators that driven the high average house prices. Australian market is more competitive and has stable market compared last year.
23. January 2012 18:37
According to Residex CEO John Edwards, “Our housing markets ended 2011 in a better position to where they started and I am confident that the year ahead will be better for residential property owners compared to last year.” John Edwards expects the overall housing recovery this year and exit a period of negative adjustments. The basis fast that last December 2010 house prices declined and as well as December 2011, it also declined by 0.72%. Based on the trend in house and unit nowadays, the monthly growth trends shows that Melbourne, Hobart and Perth are performing better which makes their monthly capital basis improve while Canberra, Darwin, Sydney and Brisbane markets are going down. The Australian’s situation are facing now are much better to adjust and this is the time that the market has a chance to achieve a good result and to recover.
21. November 2011 18:16
According to a press release
from the Mortgage and Finance Association of Australia, “First time home buyers
have little confidence in the Australian Economy, as they baulk at property purchases
and hoard their cash.” We all know that
house prices in Australia continue to fall and Reserve Bank of Australia has
conceded the Australian Economy is no longer as robust because the official
cash rate is 4.5%. There are several possible reasons why housing market strikes; 72.1%
worried about the level of debt home ownership would require, 44% cited were delaying
purchasing a first home due to economic conditions and lastly 20.5% of first
time buyers believe property prices are too high. The RBA has confirmed last
November 1, 2011 the economy is weak. The QLD building boost isn’t working,
lowering interest rate isn't going to work and support for the housing market in a major property. Some home buyers are returning to the market in droves. Investors and businessmen hope that first homebuyers will change their mind to enter and to
invest the market to boost the economy.