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…
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…
The last month of the first quarter of 2011 has seen a rise in Australian residential building approvals of a seasonally adjusted 9.1 per cent to 13,627 units in March. This positive development is a sure step towards a positive improvement from an upwardly revised 12,492 units in February.
This means that house builders or home builders are now quite busy building display homes and have increased the number of house and land package available in the market. 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…
According to Economic forecaster BIS Shrapnel, a surge of 25 percent in the activity of civil construction will be observed over the next three years. This increase in activity is due to flood reconstruction as well as mining and LNG-related work. This is projected to result for the first time in overall activity breaching $100 billion in 2014.
Construction activity would rise up by 20 percent in 2011-12 and 2012-2013, in contrast to the weaker growth of 2.8 per cent in 2009-10 and a forecast 5 per cent for 2010-11, as projects are nearing to completion after the global financial crisis as reported by BIS Shrapnel yesterday. more…
