Australian Housing Market will really Recover

by joy.manginsay 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.

First Homebuyer Caution holds back Economy

by Joy Manginsay 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.

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