A SUMMARY FROM THE INSTITUTE’S LATEST ECONOMIC AND HOUSING MARKET UPDATE Economy Expectations are that the RBA Board will let a cash rate that has nearly halved over the last two years and a falling dollar that is down 15 per cent against the USD work their way through the economy, with the possibility of […]
FIRST HOME BUYERS IN PERTH SPENT A RECORD MEDIAN OF $450,000 ON THEIR HOME IN JULY, WHICH IS UP $32,000 (7.7 PER CENT) COMPARED TO 12 MONTHS AGO. “There are many first home buyers and investors competing in the same sub-$600,000 market, which is forcing prices up,” said Urban Development Institute of Australia (WA Division) […]
LAND DEVELOPERS IN PERTH ARE FAST-TRACKING LAND RELEASES AS STOCK LEVELS DECLINE TO THEIR LOWEST LEVEL IN SEVEN YEARS. A survey of over thirty major land developers by the Urban Development Institute of Australia (WA Division) showed the level of stock on the market fell 24.7 per cent over the three months to June 30 […]
THE RECENT DECISION BY THE WA GOVERNMENT TO INCREASE THE FIRST HOME OWNER GRANT ON NEW DWELLINGS TO $10,000 AND REDUCE THE GRANT ON ESTABLISHED DWELLINGS TO $3,000 MEANS EVERY STATE AND TERRITORY IN AUSTRALIA HAS ANNOUNCED OR ENACTED PLANS TO SHIFT THE GRANT IN FAVOUR OF PURCHASING NEW DWELLINGS. The $7,000 difference between new […]
CHANGES TO THE FIRST HOME OWNER GRANT (FHOG) HAVE MADE NEWS THIS WEEK AND THERE WILL BE PLENTY OF INFORMATION ABOUT WHO IT AFFECTS AND WHAT IT MEANS FOR YOU. BUT WHAT DOES IT MEAN FOR THE MARKET AND THE STATE? The fact that we are under building is not questioned. The National Housing Supply […]
TO ACHIEVE GREATER HOUSING DENSITY, IT WILL BE IMPORTANT TO PROMOTE AND INCREASE HOUSING DIVERSITY, ADAPTABILITY, AFFORDABILITY AND CHOICES By 2056 it is projected Perth’s population will be more than 4 million people, close to Sydney’s current population, and with this we can expect our future population densities to be similar. While Perth currently enjoys […]
ONLY SIX PERCENT OF PEOPLE CATEGORISED AS HOMELESS FIT THE MORE TRADITIONAL NOTION OF “SLEEPING ROUGH”. The issue of housing affordability and availability was in the spotlight during Homeless Persons Week which runs through to Sunday 11th August. In the 2011 Census, homelessness rose eight percent on 2006 data. With around 9,500 people classified as […]
IT IS THAT TIME AGAIN. EVERY THREE MONTHS PROPERTY INFORMATION PROVIDERS PUBLISH THEIR ESTIMATES OF WHICH DIRECTION HOUSE PRICES ARE HEADING AND ONCE AGAIN WE ARE LEFT WITH A WIDE RANGE OF NUMBERS. Although the main house price measures continue to show significant divergences quarter-to-quarter, they do follow a broadly similar pattern on an annual […]
SEARCH DWELLING CONSTRUCTION TRENDS IN OVER 2,500 LOCATIONS ACROSS AUSTRALIA. The upswing in residential construction in Australia has been uneven, with to date Western Australia leading the dwelling construction recovery in the country. Approvals for the construction of new homes in Western Australia increased 27.5 per cent in 2012/13 compared to 1.9 per cent in […]