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
Recently released data from the Australian Bureau of Statistics (ABS) shows that to June 2013 the rate of population growth in capital cities was significantly greater than that of regional markets.
Overseas migrants show a preference for New South Wales and Victoria while interstate migration has levelled since the peak in commodity prices.