Happy Christmas from Century 21 Real Estate
With tinsel strung up and Christmas carols playing softly throughout the office, it seems that once again Christmas has come around quickly and is almost upon us. As I say every year, the years do not appear to be slowing down, and with this year drawing to a close, 2012 looks to be busier than ever for the Australian residential...Read complete post
Home security over the holidays
As we draw closer to Christmas and ready ourselves for a relaxing festive season, it is important for property owners to remember that this period can also present a heightened risk of theft and home break-ins, as people spend an increased amount of time away from home. Property owners need to therefore remain vigilant, and take note...Read complete post
Latest inflation indicators
It is well known that inflation has been a key influencer of the Reserve Bank of Australia’s interest rate decisions over the course of the year with the Bank aiming for a target range of 2 – 3 per cent over 2012 and 2013. While the official inflation data, the Consumer Price Index released by the Australian Bureau of Statistics, is not due until early 2012, the recent release...Read complete post
Rate cut provides Christmas relief for property buyers and mortgage holders
At its December meeting held in Sydney last week, the Reserve Bank of Australia elected to cut the official cash rate by 25 basis points to 4.25 per cent. This was the second consecutive cut to rates made by the Reserve Bank, after a year of keeping rates on hold at 4.75 per cent. This decision should assist both prospective residential property buyers and current mortgage...Read complete post
Housing shortage or oversupply – an attempt to clear some confusion
The debate surrounding Australia’s housing shortage versus its oversupply is one that seems to regularly pop up in commentary regarding the residential property market. The Australian public can be forgiven for being somewhat perplexed – it often feels like one moment there are too many properties on the market and buyers are scarce, while the next report sees fears raised that there won’t be enough homes to accommodate the Australian population moving...Read complete post
Market conditions provide opportunities for pre-Christmas real estate purchases
Last week saw the beginning of December – who can believe how quickly the year has gone by? In real estate terms December marks the end of the spring selling season, and is also often a time where many buyers and sellers pick up the pace and work to have any relevant inspections and property transactions finalised before Christmas and the end of the year. Now it is certainly...Read complete post
Don’t discount smaller spaces, simply consider smarter designs
It is no secret that many Australians have long had a love for substantially sized homes, set on considerable blocks of land, with room for all the family. However, with affordability concerns and a change in preference for inner city living, as well as the physical size of many new developments decreasing, a number of people are being faced with the possibility of living in dwellings of a smaller size. However, those home buyers and investors who may encounter this prospect need...Read complete post
Keep cooling costs down as temperatures rise
It is no secret that electricity is set to become increasingly expensive for households, and as we enter summer and temperatures rise, the temptation to rely on air-conditioning, and thus use large amounts of energy, is hard to resist. According to the Australian Energy Market Commission in its report ‘Future Possible Retail Electricity Price Movements: 1 July 2010 to 30 June 2013’, over 2009/10 to 2012/13, national residential electricity prices are forecast to increase by 30 per...Read complete post
Report identifies possible reforms to achieve housing solutions
There has been no shortage of attention paid to the continued residential housing supply and affordability concerns shared by many Australians over the past year. To this end, the independent body, the Grattan Institute, recently released a report that proposes reforms to potentially address the issues facing the national residential property market, largely focusing on planning at a community level. The Grattan Institute’s new report, Getting the housing we want, proposes...Read complete post
Residential property market shows early signs of recovery with home loan approvals up in September
The national residential property market received some good news recently, with the Australian Bureau of Statistics’ release of its Housing Finance data for September 2011. These figures showed a lift in the number of home loans approved across the country over the month, which could potentially indicate a strengthening of the housing market. According to figures released by the ABS, September saw the total number of owner occupied housing commitments increase by 2.2 per cent...Read complete post