REAL ESTATE REPORT

Real Estate Report - 31/10/11
Australian house prices have fallen for the fifth consecutive quarter, with a glut of properties for sale. REIA and HIA are calling on the Reserve Bank to reduce rates in response to the latest CPI figures showing inflation is slowing down. And how far will property prices fall? One theory suggests the future of Australia's property outlook will be heavily influenced by the baby boomer generation over the coming decades.

Real Estate Report - 24/10/11
Home building continues to deteriorate while major renovations increase. Major discounting in Adelaide, in some cases by almost 30 per cent. The global financial crisis will scar younger Australians who will never be able to afford to buy their own home. 65 per cent of Australia's wealth is tied up in property.

Real Estate Report - 17/10/11
Demand for home loans has increased for another month. The value of dwelling transactions has fallen by more than 18 per cent over the 2010/2011 financial year. Residential property is no longer set to be the country's highest-returning asset class. And rents for houses have fallen nationally.

Real Estate Report - 10/10/11
The Reserve Bank Board leaves rates unchanged at 4.75 per cent. The big four banks have cut mortgage rates to remain competitive, but analysts say the cuts won't last. Building approvals rose 11.4 per cent in August. And the Real Estate Institute of Australia calls for the abolition of stamp duty.

Real Estate Report - 03/10/11
RP Data-Rismark reports strong rental growth rates and slowing dwelling value declines for August. NAB says capital city house prices fell by 2.4 per cent in the three months to September. Ratings Agency Moody's has revealed more Australians are falling behind on their mortgages, with defaults at a ten year high. HIA shows new home sales have posted a slight rise in August following two large falls.

Real Estate Report - 26/09/11
Households owning their property outright save less than renters, according to the Reserve Bank. The Reserve Bank releases their monetary policy minutes, pointing to a rise in mortgage defaults. The Australians for Affordable Housing launch a report stating we're paying more than we can afford for housing. And more than a third of Australians believe it's a good time to buy a home.

Real Estate Report - 19/09/11
The Tax Office issues a draft ruling allowing DIY super funds that borrow to buy property to renovate the asset using their own money. American forecaster Harry Dent forecasts that house prices will return to levels of a decade ago as baby boomers reduce their spending. The seasonally adjusted estimate for the number of dwelling units commenced fell 4.7 per cent in the June quarter. The latest figures from the Real Estate Institute of Victoria show a slump at the top end of the Melbourne housing market.

Real Estate Report - 12/09/11
Capital city house values fell 2.8 per cent for the year to June. The Reserve Bank Board leaves the cash rate on hold. The number of dwelling commitments for owner occupied housing finance rises in July. The performance of construction index drops again in August. And in NSW, the budget reveals a boost to housing construction, but a blow for first home buyers.

Real Estate Report - 05/09/11
The plight of the Australia's property market is highlighted with a series of reports from the Australian Bureau of Statistics, Housing Industry Association and RP Data. New home sales and capital city house prices in Australia fall in July and home building approvals rise less than expected. Melbourne is voted the world's most liveable city and Australians predict where house prices will move over the next year.

Real Estate Report - 29/08/11
Australians continue to build the world’s largest homes, but there are signs our love affair with the McMansion is coming to an end. Housing affordability improved in the June quarter, with the global economic uncertainty attributed as being responsible for the improvement.