RESIDENTIAL PROPERTY
Clearance rates continue hover around 50%
MELBOURNE'S residential property auction clearance rate has increased slightly to 57% last weekend, as stock levels continue to fall. ...
Residential property glut
RESIDENTIAL property listings have increased by 4% or 13,476 to 377,315 in the month of July, according SQM Research. ...
Housing finance demand flat line
OWNER occupier housings finance commitments were flat in June, according to the Australian Bureau of Statistics. ... Full story
Perth residential market continues to stagnate
PERTH house prices have retracted for five consecutive quarters and are back to where they were in the December quarter of 2007 before the market global financial crisis, according to the Real Estate Institute of Western Australia. ... Full story
Auction market much of the same
BUYERS were not spurred on by the Reserve Bank’s decision to leave interest rates unchanged last week, as the residential property auction market recorded a clearance rate of 57%. ... Full story
Mortgage sales languishing
MORTGAGE sales have fallen by 3.7% in July as consumer confidence continues to weaken. According to mortgage broker AFG, Western Australia has the most depressed property market despite the state being the resources boom capital. ... Full story
Approvals and house prices continue to weaken
RESIDENTIAL building approvals have fallen by 3.5% in June, which is worse than market expectations of a 3% increase. ... Full story
Rents continue rising in top suburbs
RENTS in Melbourne, Sydney and Brisbane’s top suburbs have risen by as much as $60 per week, according to Australia’s largest property manager, Run Property. ... Full story
Auction market yo-yoing
UNPREDICTABLE volumes of residential auction properties each weekend is discouraging buyers from the market. ... Full story
Affordability will take 10 years to catch up
HOUSING affordability is out of reach for most Australian and it would take at least 10 years of flat house prices coupled with income growth for many to catch up. ... Full story
Sydney dodges falling house prices
SYDNEY house prices have bucked the negative trend, to record a 0.1% growth in the June quarter, according to Australian Property Monitors’ Quarterly Housing Report. ... Full story
REIV hits back over inaccurate auction results
THE Real Estate Institute of Victoria has hit back at claims that its auctions results are inaccurate and misleading and that the health of the market could be worse if it was forced to disclose all results. ... Full story
Rental market remains tight despite vacancy rise
THE housing rental market remains tight during the month of June as vacancy rates increased marginally by 0.2% to 1.9% nationally, according to SQM Research. ... Full story
Vic govt unveils Melbourne urban renewal precinct
CONSTRUCTION has started on a major mixed-use urban renewal precinct, on the former Larundel Hospital site in Bundoora. ... Full story
Perth house prices fall for 15 months in a row
THE median house price in Perth has fallen by 2% in the June quarter for the fifth consecutive quarter and vendors are finding it is taking a lot longer to sell, according to Real Estate Institute of Western Australia. ... Full story
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