Property News
10 January 2017 - Sydney property market still hot as summer sellers surge, not deterring buyers
The Sydney home auction market continued its hot summer performance at the weekend, with the end of year rush by sellers failing to dent buyer demand. Sydney recorded another rock solid result for sellers on Saturday with a clearance rate of 76.2 per cent, which was just ahead of the 75.8 per cent recorded the previous weekend and significantly ahead of the 58.1 per cent recorded over the same weekend last year. Although clearance rates have eased over recent weekends, this reflects the typical flood of year-end listings, providing buyers with more choice and sellers with more […]
Read More7 June 2015 - Removing taxation benefits for property investors would reduce demand for new homes
The Australian Greens push to remove negative gearing would make housing affordability worse, economists say. Discouraging investment in property would reduce supply of new housing and increase rents. “There’s no doubt if an existing benefit is taken away then landlords would logically recover that by putting up rents and that would be particularly so in markets where there are tight vacancy rates,” Domain Group senior economist Andrew Wilson says. “Anything that changes the supply would only impact tenants. I think that’s working against the people that the proponents of getting rid of it are trying to help. “The issue with first home […]
Read More25 November 2014 - Buying well the key to long-term success
It’s probably a sign of how stable our economy is that we wait for the slightest change in wording when the Reserve Bank decides on the cash rate. Last Tuesday the RBA board met and decided to keep the official interest rate at 2.5 per cent – not only a historically low rate compared with the 5.2 per cent average since 1990, but also a rate that’s been kept the same since August 2013.
Read More14 October 2014 - Property makes Australians the world’s richest, says Credit Suisse
Thanks to their houses, Australians are the richest people in the world, according to the investment bank Credit Suisse.
Read More7 October 2014 - Rates on hold until mid-2015: experts
The Reserve Bank has again flagged growing investor activity and done nothing. The Reserve Bank has made no secret that it is watching house prices closely but it is becoming clear to economists that the board will not use the cash rate to cool things down this year.
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