The national HIA Housing Affordability Index fell by 2.9% to 79.7 over the quarter. This quarter’s results are not good for prospective home buyers.
The Australian Bureau of Statistics says building approvals have gone down in June. The total number of dwelling units approved fell 8.2% from May to June, on a seasonally adjusted basis. This is the fourth month in a row that dwelling approvals have fallen.
A growing proportion of first home buyers are purchasing investment properties before they purchase a home to live in.
Over the last quarter, foreign buyers bought 16% of new apartments and 11.5% of new houses. But they also bought 11.4% of established apartments, and 9.4% of established houses.
According to research firm BIS Shrapnel, residential building activity in Australia is going to slow down. But not as sharply as population growth.
Those who argue against negative gearing tend to do so for two reasons. First, they say it’s causing a house price bubble.
The Reserve Bank of Australia thinks that negative gearing should go. Or at least, they think it needs a serious review.
Two recent reports indicate that Australia could soon see more Chinese investment in new properties than ever before.
Many don’t believe Australian property can go higher, but innovative ideas like this one should keep property prices humming along for now
Australians want less (or no) stamp duty, and less income tax. In return, they’re happy to pay more GST. They’ll pay an extra 2.5% — from 10% to 12.5%.