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Australia Property Investment: Apartment living is the new norm in Australia with almost half of all new dwelling properties being apartments (units). The traditional Aussie home of bungalow with a back yard, BBQ and pool is fast becoming a rarity – especially in Australian cities. Apartment/units now account for 47% of all new property construction. People increasingly want to live close to city workplaces and amenities like cafes, shopping centres and transport links and apartment/units provide…
Australia property market: buyers and sellers are still active in the market despite current social distancing and auction regulations. There may be economic uncertainty but those who are ready to purchase and those who need to sell are not letting Covid-19 change their plans. Australia property market has been impacted by Government regulations introduced as a result of Coronavirus. In-person real estate auctions and public open homes have been banned, and this has had affected…
COVID-19 Update: NSW will be a “buyer’s market” in coming months as house prices are set to plummet. That’s according to NSW Premier Gladys Berejiklian who believes it will take at least a year for property prices to recover. Government figures show that almost 600,000 Australians lost their job last month, the single largest rise in jobless in the nation’s history. Prime Minister Scott Morrison said the pandemic’s economic hit will be tougher than the global…
Australia house prices could fall by up to 30 per cent if coronavirus restrictions are extended for another six months. Property prices are set to fall by 10 per cent as a result of the recent economic lockdown but decline in values will be greater if the restrictions continue. If a second wave of the virus occurs and restrictions are prolonged, property analysts predict a “major fall” in housing prices. Price of houses and apartments…
Property Prices in Australia rose slightly in March despite the COVID-19 lockdown. The value of total building approved rose 1.3 per cent in March, in trend terms, and has now risen for the last four months. The value of residential building rose 0.5 per cent, while non-residential building increased 2.3 per cent The latest financial news from the A.B.S follows news that the Aussie stock market is making a full recovery after plunging 40 per…
Mortgage Lending for new housing rose slightly in March despite the coronavirus emergency. The value of new Mortgage Lending commitments for housing rose 0.2 per cent in March, seasonally adjusted, according to the latest Australian Bureau of Statistics figures. The value of new loan commitments for owner-occupier housing rose 1.2 per cent, while investor housing fell 2.5 per cent. ABS Chief Economist, Bruce Hockman, said: “New loan commitments for housing were steady in March despite…
Australia Property Market continued to increase in March but April figures may show a decline. The number of dwellings approved rose 1.3 per cent in March, in trend terms, according to data released by the Australian Bureau of Statistics (ABS). “Private sector dwellings, excluding houses, which rose 2.8 per cent in trend terms, drove the rise. Private sector houses also rose 0.2 per cent,” said Daniel Rossi, Director of Construction Statistics at the ABS. “This…
Coronavirus Australia: the current emergency will hit the Australian economy but the country will bounce back, government forecasters say. Prime Minister Scott Morrison said Australia is now preparing plans to emerge from the pandemic in good shape, after navigating “the road in” better than most nations. The Australian government predicts that up to 580,000 jobs will be lost as result of the virus lockdown but says that the economy will ‘bounce back’ once the worst…
DIY has never been more popular Down Under. Australians have hit peak in toilet paper hoarding and are now buying alcohol, DIY goods and home office equipment in preparation for months of lockdown. Data compiled by both the ANZ and Commonwealth Bank suggest the worst of the surge in shoppers clearing out the tinned tomatoes and pasta aisles of supermarkets may be over. The ANZ found that during the first panic buying surge spending on…
Emigrate to Australia where average house prices fell by 1.6 per cent in the September quarter, compared to the previous three months. House prices in the Queensland capital may be falling but property prices overall have increased by 4.1 per cent over the past 12 months. The average unit price of $440,000 is down 1.1 per cent compared to same time in 2015, according to the Real Estate Institute Queensland. “The cost of apartments and…
