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Moving to Australia: New home building confirmed its number one spot in Australia’s domestic economy as detached housing hit a new cyclical high in June quarter. “Given its strong multiplier impact on many other sectors including manufacturing and retailing, new home construction delivered huge economic dividends to the Australian economy in 2015/16,” said Geordan Murray, Economist at Housing Industry Association. “The volume of new residential work done alone generated a record $58.5 billion of economic…
Migrate to Australia where the Retailer Energy Efficiency Scheme (REES) is a South Australian government initiative that requires energy retailers to help households and businesses save on energy use and costs, and lower their greenhouse gas emissions. To do this, energy retailers need to meet energy efficiency and audit targets that have been set for them. Retailers with a large number of residential customers are set additional targets that ensure a certain amount of the…
Migrate to Australia where the First Home Owner Grant (FHOG) scheme aims to encourage new home ownership. It is a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, one-off grants are payable to first home owners that satisfy the eligibility criteria. The First Home Owner Grant scheme was established to assist eligible first home owners to purchase a new home or build their home by offering…
Property in Australia: Home price inflation in Brisbane is now less than half that of all other combined city capitals where prices are rising by an average 7.1 per cent. Only the cities of Perth, at minus 7 per cent, and Darwin, at minus 6 per cent, have seen home prices fall. Improving rate of affordability in Brisbane has seen a steep rise in home buyers that have been priced out the housing market in…
Property in Australia has experienced many years of price growth but the market is now cooling fast and average prices are now generally falling – except in Melbourne. Melbourne property values rose 2.3 per cent over September and are now up just under 9 per cent year-on-year. It’s the fastest growth of any Australian capital city for the past three months. Meanwhile, Sydney property price growth almost halved in September, rising just 0.8 per cent…
Moving to Australia where Every Australian capital city has experienced a fall in vacancy rates and, in some key cities, a fall in the cost of renting a property. Across the country, the August fall in vacancy rates ranged from 0.1% to 0.3% across all capital cities. The nation’s lowest vacancy rate is in Hobart at 0.3%, having fallen from 0.8% over the month. Perth’s vacancy rate fell 0.2% to 5% over August, while in…
Migrate to Australia where Melbourne’s industrial property market will continue to grow over the next 12 months. Migrate to Australia where, in Melbourne, latest research shows the highest level of take-up ever recorded for the city’s industrial market, with a total of 731,000 sqm of space absorbed over 2015. The market has already established its strength in 2016, with recorded take-up for the year’s first half at 377,000 sqm. Victoria’s economy is being driven by…
Moving to Australia does not mean breaking the bank and it is still possible to find affordable housing, most notably in Brisbane where the average price of a new apartment has fallen by over $17,000 over the past three months. A total of 810 apartments were sold in the Queensland capital during the June quarter – the lowest number since the beginning of 2014. The average sale price in the June quarter was $578,580, a…
Moving to Australia is a major life decision that takes careful consideration, especially when it comes to housing costs. The average cost of a residential property in Australia has increased by 8.2 per cent over the past 12 months with the total value of all Australia’s homes now $6.04 trillion. Brisbane has seen the highest growth in property prices, pushing Sydney into second place. Brisbane property prices grew 4.3 per cent over the 12 months…
Property in Australia has risen in prices in recent years but many cities have seen prices level out and fall. Rising house prices have attracted property investors that have driven the supply of apartments for the past four years. But as prices return to realistic growth levels investors may withdraw and supply of properties may dry up. Growth of high density development has already started to fall following a market peak in 2015 and 2016….
