This popular report provides a quarterly assessment of realised gross profit and losses based on dwelling re-sales over the June quarter of 2014.
The housing market is potentially moving through its peak with homes taking a bit longer to sell and vendors discounting their initial listing prices by a greater margin in order to sell a property.
The Australian Bureau of Statistics (ABS) released its quarterly employment data which shows the slowdown in mining employment but a large ramp-up in real estate employment.
Lower income earner’s hopes of owning a home have faded over the past two years due to the high rate of capital gain, so what can be done?
Total outstanding housing credit is increasing at a moderate pace compared with the historic trend however, with housing credit aggregates and household debt also starting to rise it may raise some alarm bells with the Reserve Bank.
The national population increased by just over 396,000 new residents over the 2013 calendar year; 9,300 fewer new residents compared with the annual period ending June 2013.
The housing market is now two years into the growth cycle and showing signs of moving through peak growth. The value of diligent research and a carefully considered purchase decision is all the more important when values aren’t rising as fast.
Over the first quarter of the year, 9.8% of properties nationally sold for less than their previous purchase price meaning 90.2% of properties sold at or above their previous purchase price.
The challenge now is how can you deliver affordable housing for younger Australian’s without bringing down the cost of existing housing which politically and economically would be detrimental to the overall health of the Australian economy.
A recent speech by the Reserve Bank's Luci Ellis highlighted why housing demand is greatest in inner-city areas and why so many Australians want (need) to live in a capital city.
Home values, particularly in Sydney and Melbourne, are growing at a rapid pace but as values rise affordability pressures are likely to see housing demand fall away.
2011/12 Taxation Statistics Reveal a Slight Fall in Negatively Geared Property Investors - CoreLogic