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Market Watch: Australia to add 4.5 million new households

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Australia to add 4.5 million new households
Real estate agents and mortgage brokers are going to be busy over the coming years as 4.5 million new households are created in Australia. That’s according to a report from the Australian Bureau of Statistics which reveals that over the next 25 years the total number of households will increase to 12.7 million. "Couple only families are projected to experience the largest increase of all types of families over the next 25 years." said Denise Carlton from the ABS. "They are projected to increase by up to 64 per cent from 2011 to reach up to 3.8 million families in 2036. This is mainly related to the ageing of the population, with baby boomers becoming 'empty nesters'." Family households will make up 70 per cent of the total but there is predicted to be a surge in the number of Aussies living alone with 65 per cent more one-person households by 2036. The data will mean some thinking for planners and builders to ensure that the right home types are available.
Source: ABS

TV host sells home but misses out on record price
TV host Jamie Durie has missed out on his hope of setting a new record sale price for a non-beachfront suburb in Sydney. He has sold his 5-bedroom, 3-bathroom home on Bilgola Avenue for $3.8 million, $600,000 less than the record. Having been involved in creating the house and paying $1.3 million in 2003 it represents a healthy profit on the home. Durie is spending more of his time in the US working on TV projects, resulting in the decision to sell.
Source: Domain Group

Perth market still volatile
The Real Estate Institute of Western Australia reports that the Perth housing market is still volatile with sales activity taking a 10 per cent drop in the week to 18th March after a rise of 26 per cent in the previous week. North of the river saw the largest fall in house sales, down 9 per cent and multi-residential sales were down 19 per cent. South of the river there was a negligible drop in house sales but a 16 per cent rise in units. The figures are around 15 per cent lower than a year ago and REIWA predicts volatile conditions until after Easter.
Source: REIWA

 

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