22. March 2012 18:03
According to Genworth Homebuyer Confidence Index, “this polls sentiments about buying as well as mortgage stress, found a recent drop in people struggling to make repayments and an increasing comfort with debt.” Consumers’ confidence is on the rise despite all the household bills in which households bills are a major stress on the budget. Cost of living really pressures to households but nowadays, this negative factors are being offset to positive factors like wage growth and interest rate cut.
Property Adviser Margaret Lohan said, “We are at a time when housing is the most affordable it has been for a decade.” It’s the first time that consumers’ confidence is on the rise since 2009. Autumn was the time for the new property listings to attract prospective buyers. The realestate.com.au shows that the real estate listings increased and the market continues to boost.
13. February 2012 18:21
The Reserve Bank of Australia (RBA) reduced its interest rate by 25 basis points or its 4.5% last November and this was followed during December in 0.25 basis point at standing rate of 4.25%. The said two consecutive interest rate cuts have helped boost Australia’s Real Estate sector. A survey shows that after the interest rate cut new home sales received a welcome boost in November.
According to the HIA Chief Economist, Dr. Harley Dale, “a long way to go to restore new home sales volumes to acceptable levels, nothing that the number of such transactions is currently running at least 20% below what you could conservatively call healthy.” This means that the real estate market is not in the clear yet because this month, supposedly there is expected interest rate cut unfortunately it didn’t happen and it will remain on hold. Interest rate cut really affects the Real Estate Market sector.
31. January 2012 19:27
According to APM Senior Economist Andrew Wilson, “Increasing competition for properties particularly from home buyers unable or unwilling to enter the property market has resulted in rising rental prices over the December quarter for both house and units.’ Home prices and poor affordability helped lift rent this quarter for first time to rise hope to improve the real estate market this year. According to Fairfax-owned Australian Property Monitors, median rent for houses increased by 1.1% while rents for apartments and units increased 1.4%. I think this year 2012 will continue to remain soft because of the home buying activity. Home buyers continue to penetrate the real estate market that makes the house price and rents increase. An economist believes that housing market will rebound on lower rates and increasing sale.