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Business confidence

Buoyant confidence amongst business and consumers likely to support high numbers of housing transactions

New figures released by Westpac and the Australian Chamber of Commerce and Industry show that economic conditions have continued to exceed expectations during 2010.  The Survey of Industrial Trends (click here to see media release) increased by 6.3 points over the March quarter to reach its highest point in more than two years. When viewed […]

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Investor finance

Housing finance data catches everyone off guard.

Whilst there was an expectation that housing finance may ease in January due to the wind back of the first home buyers grant boost and three successive interest rate increases, no one expected to witness such a dramatic fall. Housing finance data showed that on a seasonally adjusted basis total finance commitments fell by -7.9% […]

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A shaky start for new housing supply in 2010

Dwelling approvals data released on the 2nd day of March by the Australian Bureau of Statistics was a stark reminder that the amount of new housing approved for construction remains well out of kilter with Australia’s rapid rate of population growth.   The total number of approvals fell by 7 percent on a seasonally adjusted basis […]

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Median prices

If you want to own property, get a significant other first

We constantly hear different numbers thrown around about how much it costs to purchase a home compared to incomes, this week we’re going to put some simple science behind it.  The table below details the average weekly earnings of a person in each state as at November 2009 based on data released this week by […]

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Stratified hedonic home value index

Where to from here for interest rates?

The Reserve Bank Board minutes that relate to their meeting in the first week of February make an interesting read if you like to keep up to date on the economic state of play.  The minutes provide a relatively easy to digest synopsis of the factors that are deliberated by the Reserve Bank Board as […]

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Annual change in job numbers full time v part time

Strong employment figures set the scene for higher interest rates

The surprising fall in unemployment figures (national unemployment down from 5.5% to 5.3% in January) has caught almost everybody off guard. The consensus amongst economists prior to the announcement was that Australia’s unemployment rate would rise to 5.6%. The rate of unemployment has fallen now for three straight months on a seasonally adjusted basis after […]

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Number of dwelling approvals, National

Dwelling approvals jump to highest level since 2004 in December

Building approvals data for December has just been released by the Australian Bureau of Statistics which shows a positive upwards trend in the number of homes approved for construction.  On a seasonally adjusted basis dwelling approvals rose 2.2 per cent in December with 14,869 planned dwellings given the green light.  This is the second consecutive […]

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CMA reports

Market Activity Increasing rapidly post Christmas / New Year

The New Year is certainly starting with bang.  Anecdotally we are hearing that many real estate agents have cut their holidays short due to unexpectedly high prospective vendor enquiries.  Also, pre-listings activity from real estate professionals is already higher than at any time over the last two years suggesting that the amount of stock about […]

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International markets

Overseas real estate markets are recovering but prices remain well below their peak

As the global economy continues to recover, we thought it timely to re-examine the overseas property markets that we as Australians often use as reference points.   Rightly or wrongly, Australia’s residential market is often compared to that of the US, UK and New Zealand.   Of course there are significant differences in the market drivers and […]

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Margaret River

Tourism markets feeling the pinch

Australia’s most popular tourism regions are hurting – takings from accommodation are down, occupancy rates are down, overseas visitor numbers are only creeping up (slowly) after the 2008 slowdown.  The Tourism Forecasting Committee (part of Tourism Australia) estimates that total tourist consumption is down 3.5% in real terms during 2009 – the worst downturn in […]

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