Category: Housing Affordability
Housing finance approvals up for August
The Australian Bureau of Statistics last week released data regarding housing finance commitments for the month of August 2011. These are generally considered to be reasonably good indicators of the state of the residential property market as they represent the aim of the population to engage with the housing market, either through the purchase or construction of a dwelling. According to the ABS, the total value of dwellings financed in August rose 1.1 per cent (trend) compared...Read complete post
Housing affordability improves
In some good news for the residential property industry, the recent release of the Housing Industry Association-Commonwealth Bank Housing Affordability Index showed an improvement in housing affordability levels, which my colleagues and I at CENTURY 21 hope will help to deliver a much needed boost to Australia’s residential real estate market. The June 2011 quarter saw the Index rise by 0.8 per cent, a result that sees it sit 7.2 per cent above where it was at the same...Read complete post