Australia’s display home vendors are facing a weakening winter demand if they are not prepared to meet the market with the stock levels slowly increasing over the next few weeks.
With the recorded rise in Australian residential building approvals seen in the last month of the first quarter of 2011, home builders have been quite busy constructing units in support of these increased building approvals. more…
Recently in the news, it has been reported that the number of loans from people who want to buy new houses for sale have dropped.
According to the report, residential property prices have increased in 2010 and will continue declining in the next six months as big mortgage brokers report a 20 per cent plunge in loan numbers.
Many home for sale will be affected by this situation. more…
In has been in the news lately that Australian residential land sales is down 40 per cent. It has reached their lowest level in a decade after almost halving from a year earlier.
A deteriorating house for sale affordability is being experienced in Australia recently. It has been a weak year for house plan building. more…
Australian couples have now put their house plans ahead of their plan of having children. They want a house plan first before having kids.
As the cost of entering the property market rises, around one in three Australians are now planning to delay their plans to start or grow a family. more…
Almost all are of the same opinion that buyers of house for sale need to sort through all the large volumes on the market to find a quality property as the performance of Melbourne’s residential market is illustrated differently depending on who you ask.
According to Greville Pabst, from valuer WBP Property Group, the market has been observed to be in complete flight in March, with 2925 auctions and an average clearance rate of 63 per cent.
This year alone, there have been 5500 auctions in Melbourne, a nice improvement of 200 over this time last year. The majority of the properties passed in have sold later, while the clearance rate is lower.
Sean Thomson, one of WBP’s senior residential advisers, states that what is happening is like a textbook case of quality properties finding a buyer and compromised ones being left on the block. He also added that now is a good time to be a buyer instead of house builders for most auctions are selling close to their reserve. more…
