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An update on the Australian housing market

July 2, 2018

Source: CoreLogic / AMP Capital

Australian dwelling price growth is continuing to moderate with the recent CoreLogic data showing that home price growth across Australia has slowed to 7.0% over the year to October (annual price growth was running around 10-11% a few months ago). Sydney price growth is rolling over (see chart below).

Melbourne home price growth is also moderating, but at a slower pace than Sydney because…

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Brisbane, Perth, Canberra to lead property price rises as Sydney slows, analysts say

June 26, 2018

Source: ABC News

In the next three years, house prices in Brisbane, Perth and Canberra are expected to surge by the most — while the Sydney market slows to a crawl.

Though in the short-term, property price growth will remain weak, or even decline in some markets, according to industry analyst BIS Oxford Economics in its latest report.

It argues this is due to tighter lending criteria, particularly…

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Perth population races past two million mark

June 25, 2018

Source: Perth Now

WA’S population is growing at its fastest pace in three years as the mass migration of residents to other parts of the country abates and locals swell Perth to more than two million residents.

Figures from the Australian Bureau of Statistics show the State added 21,400 people last year to a record 2.6 million residents.

The last time the State’s population grew by…

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Nearly $10bn injection into Karratha heralds major recovery

Source: Smart Property Investment

Various infrastructure projects totaling nearly $10 billion means great things for Karratha’s property market as it shows signs of recovery.

Over the next two years, new projects will give the Karratha economy a boost and pave the way for profitable portfolios in the area, according to Colin Baker, general manager of Peard Real Estate in Karratha.

“Over the past few weeks, alone there has been…

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Six reasons to buy off the plan

June 22, 2018

Source: The Real Estate Conversation

Buying off the plan is a great way to get into the property market. Of course, before you buy you need to do your research, as with any purchase. So let’s look at my six reasons why buying off the plan will work for you.

1. Saving on stamp duty

One of the biggest reasons, particularly in Victoria, to buy a property off the plan is the…

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Millennials need more help in understanding the buying process

June 15, 2018

Source: The Real Estate Conversation

In the next five years, it’s anticipated that millennials will eclipse baby boomers’ real estate spending power.

Despite 74 per cent of millennials requiring more help than usual in understanding the buying process, it is anticipated that the next five years will see millennials eclipse baby boomers’ real estate spending power with 66.1 per cent of those born between 1982 – 2002 choosing property over lifestyle.

With…

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Average Perth home to cost $2.48 million by 2043

June 13, 2018

PERTH property prices could reach ridiculous levels by the middle of the century if they keep growing at the same pace of the past 25 years.

Projections show the median house price would be $2.48 million by 2043, up from the current $488,000.

A typical unit would cost $1.7 million, up from $400,000.

The Aussie Home Loans and CoreLogic report released yesterday assumed Perth house prices…

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WA economy showing signs of recovery, Chamber of Commerce and Industry says

Source: Shane Wright – Perth Now

THE WA economy is poised to pick up pace on the back of an increasingly confident household sector that is loosening its purse strings.

The State Chamber of Commerce and Industry, in a report into the WA economy to be released today, has upgraded its forecasts for economic growth in large part because of the lift in confidence among consumers and parts…

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Housing affordability improving across Australia, says REIA report

June 6, 2018

Source: The Real Estate Conversation

Housing affordability has improved across the country despite falls in Victoria, South Australia and ACT, according to new research from the Real Estate Institute of Australia and Adelaide Bank.

The 2018 March quarter edition of the Adelaide Bank/REIA Housing Affordability Report shows an improvement of housing affordability across the nation, while the median family income required to meet loan repayments has decreased.

Mr. Gunning said that rental affordability declined…

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Midland’s new heart

June 5, 2018

Source: The West Australian

Midland is in the midst of a once-in-a-multigenerational redevelopment plan, with hopes to see the suburb blossom into a vibrant and modern centre.

Placing another bold foot forward in its ambitious expansion, the City of Swan is going ahead with a multi-million dollar residential and commercial development set to reshape the Midland CBD.

The freshly coined New Junction project, which will cover…

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