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Strong rental market to lead the way in Perth next year

November 26, 2018

Source: The Real Estate Conversation

The Real Estate Institute of Western Australia (REIWA) is confident the Perth rental market will lead the housing market next year, but warns any changes to negative gearing has the potential to impact buyers.

The industry body predicts stability for the property market in 2019, with notable improvements expected for the rental market.

REIWA President Damian Collins says market conditions throughout 2018 have been fairly…

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30 per cent drop forecast for Sydney and Melbourne, but Hobart outlook is strong: SQM Research

November 16, 2018

Source: The Real Estate Conversation

Sydney and Melbourne house prices could fall by as much as 30 per cent, while Hobart house prices could rise by 5 per cent, according to SQM Research Louis Christopher’s Boom and Bust Report.

Hobart house prices could rise by nine per cent next year, bucking the national trend if interest rates are cut in response to rapidly falling house prices in Sydney and Melbourne.

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UBS issues horror warning on Australian house prices if banking royal commission reins in the banks

November 15, 2018

Source:  Perth Now

TIGHTER lending standards forced on the nation’s lending institutions by the banking royal commission could plunge the economy into turmoil, wiping up to 30 per cent from the value of Australian homes.

Analysts from international financial giant UBS have issued a warning that with banks already tightening lending standards, house prices in major capitals could slip further, with a broader impact on the economy.

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WA jobless rate hits year low after full-time employment boost

Source: Perth Now

WA’S unemployment rate has fallen to its lowest level in more than a year on the back of a surge in full-time employment.

The Australian Bureau of Statistics reported this morning that the WA jobless rate fell to 5.7 per cent in October, down from 6 per cent in September. It is the lowest unemployment rate for WA since September 2017.

The more stable…

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Australians think it’s a good time to purchase property, despite thinking house prices will fall further, Westpac survey reveals

Source: The Real Estate Conversation

Westpac’s monthly consumer sentiment survey reveals most Australians believe now is the best time to buy a house, despite thinking house prices will fall further still.

he bank’s monthly consumer sentiment survey reported an 11.8 per cent surge in respondents thinking now is the right time to buy a house – 17 per cent higher than a year ago.

New South Wales residents are leading…

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WA miners are searching for workers, but this time without ‘mercenary-type salaries’

Source: ABC News

Recruitment specialists say mining companies, desperate for workers in remote areas, are again turning to FIFO workers from the eastern states, but are unlikely to pay the sky-high wages seen in the last big boom.

After a flat few years, the Western Australia resources sector is picking up, and there are currently $1 billion worth of new projects and mine expansions in the pipeline in WA.

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A quarter of first home buyers also considering purchasing investment property, new research reveals

November 13, 2018

Source: The Real Estate Conversation

New research from Westpac reveals a quarter of first home buyers are considering buying both an investment property and an owner-occupier home.

Westpac’s latest Home Ownership Report shows first home buyers (FHBs) are feeling more confident than ever about their prospects of home ownership.

The report found 29 per cent of FHBs are considering buying both an investment property and an owner-occupier home.

Head of…

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Drop in housing commitments to dampen the economy

Source: Your Property Investment

The Australian Bureau of Statistics (ABS) disclosed that the value of investment housing commitments and number of loans for housing declined in September. As such, there is possibility that the economy will take the brunt of these slowdowns.

Delving into the data, the Real Estate Institute of Australia (REIA) reported that the latter sank by 0.9% in September, in trend terms. Further, the dollar amount approved…

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Perth Airport to undergo $1.5b upgrade

November 12, 2018

Source: The West Australian

Perth Airport is promising a truly world class airport upgrade by late 2024 that will future proof Western Australia’s critical aviation hub as the economy gets set to surge.

The airport has released the first images of its proposal to bring all flight services into one central aviation hub featuring an upgraded international terminal and a new integrated domestic terminal.

Perth Airport Chief…

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$1b Lithium plant near Bunbury gets environmental approval

November 9, 2018

Source: The West Australian

The world’s biggest lithium miner has been given environmental approval to build a massive processing plant near Bunbury, paving the way for hundreds of new jobs in the South West.

Albemarle Corporation will need 500 workers when it builds the $1 billion lithium plant in the Kemerton industrial area. A further 500 jobs will be created when the plant starts producing the 100,000 tonnes…

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