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…
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…
Australia has had its hard times recently. It has experienced different challenges which shook its people a little. It has made people realize that nature sometimes shows us things we can’t imagine happening. Nature sometimes gives us a wake up call for people to change. Thus, mother nature showed its rage on Queensland and brought forth flood into the land. It was a devastating thing to happen. It was a horrific unforeseen event for everyone even for those away from the scene. It is such a tragic thing that most people can’t imagine trying to be in that situation. Yet survivors are brave enough to conquer such reality. This situation really affected the economy. It has brought about some hesitations and doubts regarding opening up businesses and buying houses for sale in Australia.
Thus, it has been noted that new homes for sale in Australia went only a little up high in their sales this February but this growth is still considered weak for the market. more…
Australia is one of the countries who did not stop in providing consumers with new homes for sale with its new house plans. Thus, this is done to lure future clients to have no hesitations in buying these new houses. Some clients will end up applying for mortgages in order to avail their house easily and paying their houses by installments with little interest rates.
According to a major ratings agency, there has been an increase in the number of Australians who failed to pay their home loans on time. It has been shown by the Fitch ratings quarterly Dinkum index that delinquent mortgages rose up to 1.37 percent from a mere 1.3 in the last 3 months of the year 2010. This rise was attributed to the increasing number of people falling into arrears of more than 90 days. It has been noted that 0.48 percent of people who haven’t paid their home loans for more than 90 days went up to 0.54 percent recently. more…
