Smaller mortgages are the trend with Australians nowadays as house prices soften in Australian capital cities.
Australians have been observed nowadays of borrowing less as homes for sale prices slide.
This trend has further cemented to the Australians the culture of reducing debt which was brought about by the global financial crisis. more…
A survey data showed recently that Australian capital city dwellings’ values dropped by more than 1 per cent for the three months till April. This said to be due to the losses that occurred in the luxury property market.
With home values all across capital cities dropping by 1.2 per cent from the first quarter to April, Brisbane, Perth and luxury suburbs have continually pulled down the Australian housing market.
Latest survey data from RP Data-Rismark Hedonic Home Value Index shows that home designs in Brisbane fell by 3.1 percent while house designs in Perth fell by 3 percent for the quarter on a seasonally adjusted basis. more…
As Australia’s housing market remains locked in the doldrums, its new home sales are at its slowest pace this year in April.
A survey shows that Australia’s new home sales are flat and are showing signs of dropping to levels seen throughout the global financial crisis.
The number of new houses for sale in Australia sold edged up by a seasonally adjusted 0.2 per cent in April to just 11,000, according to the latest Housing Industry Association-JELD-WEN New Home Sales Report. The said sales is seen to be the weakest since sales shrank in the final two months of 2010 at less than the 4.3 per cent increase reported for March. more…
The problem in Australia houses for sale prices has been bugging the property market for a number of years. The softening of the property market has become a serious issue as many problems have cropped up that affect the property market.
Just recently, it has been in the news that according to a top government advisory body, regardless of a strong demand in key areas and a loss of affordable housing, a projected feature on the property market for this decade is a flat property prices. more…
After the the key interest rates hiked in May to 4.75% by the Reserve Bank of Australia (RBA), the housing market of Australia is said to be weakening. According to the Australian Bureau of Statistics (Austats), its Q4 2010 official data is expected to confirm the said softening of the houses for sale prices.
Property market blogs and forums as well as the newspapers have been full of stories of the softening of the property market of Australia. For instance, its lowering of sales and diminishing homebuyer confidence. more…
