Transaction rates climb as property numbers drops

Font size :

Transaction rates keep rising, even as the number of homes listed has fallen

Explain this: RP Data shows 7.7 per cent fewer homes on the market than a year ago. But overall, sales volume has risen by 10.4 per cent over the past year, with the BOQ Spring Buyer’s Guide showing a 14.8 per cent year over year increase in sales in Queensland and a 19.8 per cent increase in Brisbane. New South Wales rose 13.6 per cent and Tasmania's volume increased by 11.2 per cent. Both South Australia and Victoria increased by 9.5 per cent. The increase in sales appears to track the increase in investor activity, since first-time homebuyers hit a post-GFC low this year. The implication – people are buying and flipping homes. Read the full story here.

 

Home, home on the cliff

There are homes on the edge of cliffs, and homes built into cliffs, and then there's this concept home, stapled right to the side of the cliff with engineered steel pins. The Cliff House, by Australian architectural firm Modscape, clings like a barnacle on the face of a sheer wall overlooking the Indian Ocean. It's hard to argue that the property takes up much land – the bottom of the building faces the ocean. Let's hope the eventual new owners won't be afraid of heights. Read the full story here.

 

ANZ Australia chief: Asian capital is not the source of rising home prices

ANZ Australia chief executive Philip Chronican, speaking at a business lunch, told analysts and investors not to fear the wave of foreign investment from China, but to view it as a sign of a robust open economy. Demand from China isn't large enough to cause the property markets' wild ride, he said, arguing that supply constraints explain the spike in prices. Some demand from China can be attributed to parents seeking housing for their children while they were studying in Australia. ANZ estimated that Chinese direct investment in Australia could be worth up to $200 billion by 2030, and will ultimately drift into other areas of the economy, to Australia's benefit. Read the full story here.

 

Victoria Valuer-General posts a fall in Melbourne home values for first quarter

The city’s median house fell to $520,000, a fall of 8.1 per cent or $46,000, for the first three months of the year. Melbourne property values – at least in the government’s eyes – rose 1.3 per cent for the six months preceding March. (RP Data shows market gains of about 10 per cent over the year.) More than 100 suburbs lost value for the first quarter, according to the Valuer-General, with South Yarra taking the largest fall – a $200,000 decrease from $1.3 million to $987,500. Melbourne's figures come from about 13,000 houses sold from January to March. Read the full story here.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Sep 23, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords