What the experts say

This is because properties that deliver high levels of weekly rent...

 
WESTERN Australia may be about 72,500 homes short by 2020 according to a report from Australia's biggest building industry association, the HIA.
The Housing Industry Association's `Housing to 2020' report examines current and future levels of housing demand and associated requirements for new homes.

HIA WA executive...

Australia must build an additional 500,000 houses by 2020 or face a crippling rise in house prices that will make home ownership out of reach for many.

The Housing Industry Association (HIA), which represents the property development industry, says that unless a skills shortage in the building industry and “onerous” planning...

 
AUSTRALIA is facing an undersupply of housing that isn't meeting the demands of a growing population, an RBA official says.
Australia is likely to devote a higher share of its GDP to housing than before, or risk a "further adjustment" in housing prices and rents to balance supply and demand.

Unlike most...

There are fears WA could run out of land within a year, with 40 per cent fewer blocks on the market now compared with the last pre-boom period.

The Urban Development Institute of Australia said there were 1382 blocks for sale in the metropolitan area, compared with 2266 in pre-boom June 2005.

UDIA expects the next boom will drain...

"We're building bigger and better homes, so it was always likely we were going to be paying more in terms of the mortgage - and we're certainly working longer to pay for that.

"We're working longer, but we're probably working more flexibly and in jobs that we like."

Mr James said that in Australia, unlike...

The WA property market has reached record median house prices in Perth, Geraldton-Greenough, Kalgoorlie-Boulder, Karratha and Port Hedland.

Data released today by the Real Estate Institute of Western Australia shows strong growth across the State in the December quarter for units and houses.

Full property report, only in The West...

  The recovery of Perth's property market, which saw house prices plunge by more than 25 per cent in some affluent areas last year, could be stalled by unexpected interest rate rises in 2010, according to a prominent economist.

Analysts are already predicting a slow start to 2010 because the housing market has been sucked dry of...

 Perth’s median house price is heading back to the peak level it achieved in December 2007, according to preliminary research by the Real Estate Institute of Western Australia.

REIWA President, Alan Bourke, said the Institute’s figures were showing that strong sales turnover among more expensive homes was pulling the metropolitan...

 The cost of buying a home in Melbourne has shot up over $75,000 in three months to reach another record high.
The median house price in the city hit $540,500 at the end of 2009, the Real Estate Institute of Victoria (REIV) says in its December quarter update.

The increase is about 15 per cent higher than the $470,000 average...

 Lend Lease says it has been selected as the preferred developer of the first stage of the Alkimos development.
The710ha development and will be one of the biggest coastal projects ever undertaken in Perth.

WA Government-owned LandCorp and Lend lease are expected to finalise the deal within three months.

Alkimos, 40km...

New data from the Real Estate Institute of Western Australia is showing a continued swing away from first home buyer activity towards a stronger trade-up market.

REIWA Deputy President David Airey said that despite the First Home Owners Boost from the Commonwealth being halved late last year, sales among these buyers remained...

We have just seen the greatest downturn of the stock market since the Great Depression. In a matter of months, up to 40% (more in some cases) was wiped off the value of the majority of superfunds. This meant that many retirees were suddenly faced with the unhappy prospect of a drastically reduced nest egg upon which to draw throughout their...

Perth rents are predicted to increase 11 per cent this year with the average weekly rent hitting up to $400, according to new research.

A glut of rental properties on the market kept Perth's average rent at $360 a week throughout last year, but renters could see $40 a week added to the average rent this year.

East Perth,...

 The Reserve Bank's three consecutive rate rises and the winding down of the first-home buyers' grant have knocked the stuffing out of the housing market, with sales of new and established homes weak at the end of the year.
There was a 21.2 per cent fall in applications for new mortgages in December, according to Australia's...

 PERTH'S median house price is heading back to the peak level it achieved in December 2007, according to preliminary research by REIWA.
REIWA President, Alan Bourke, said the Institute’ figures were showing that strong sales turnover among more expensive homes was pulling the metropolitan median price back up to...

Despite a very turbulent 12 months, both analysts and commentators have currently adopted an upbeat and positive outlook across most economic fronts, in particular property.

The WA economy seems destined to lead Australia out of the worst recession witnessed in over 70 years. The $50 Billion Grogan Gas Project and other associated...

In 1967 the median house price in Perth reached $10,000. This was a significant milestone because for most of the previous decade the median was around $5,000. Yet, it would be over the following 40 years in which much more significant benchmarks would be established.

Very few people in 1967 could possibly have imagined that...

Preliminary data for the September quarter released last night by the Real Estate Institute of Western Australia, shows that the vacancy rate for available rental properties in Perth has jumped significantly to 4.8 per cent.

Newly elected REIWA President Alan Bourke said this was the highest vacancy rate in 14 years, when it...

 Want to buy a house before prices take off again, but found yourself having problems getting a loan?
Online lender MyRate.com.au has revealed the top five reasons would-be borrowers have their applications rejected.

MyRate spokesman Kevin Sherman said that with lending criteria becoming a lot stricter in the past 12 months,...

NEW home sales posted the largest monthly increase in more than three years in August due to a fresh wave of first-homebuyers, a survey says.

Sales of detached houses were up 11.8 per cent, while the number of apartment units sold...

As spring approaches it’s nearly that time again when many tenants are thinking about a new place to rent. In fact, falling rents in some areas are already seeing quite a few tenants break existing leases to move to a more affordable property.

REIWA data shows the Perth rental vacancy rate has slacked to 4.5 per in the June...

It’s not unusual for real estate agents to come across a situation involving a family, which put their home on the market and were then pleasantly surprised when they received an offer on it much sooner than expected. The offer was accepted and settlement was to occur after four weeks. Suddenly, it dawned on them that they had no plans for ...

There are important new rules for RCDs and smoke alarms coming very soon, and owners must be aware of them.

From 9 August 2009, sellers of residential properties will be required by state law to have two Residual Current Devices (RCDs), installed in the property. These safety devices must be installed by the settlement date....

As the end of the financial year rapidly approaches we might expect to see the usual promotions for investment products that offer tax deductions. Despite this increasing range of options, ‘bricks and mortar’ continues to be one of the most widely accepted and sought after forms of investment.

Residential property offers ...

PERTH should grow to more than three million people by 2050, Richard Weller, a professor of landscape architecture at WA University, says.

Now is a great time if you are assessing your current taxable position. Here are a few helpful hints that could save you hundreds or even thousands of dollars by claiming back tax you may have already paid, via simple and legitimate tax deductions which you may have overlooked or may not be aware...

In this day and age of economic turmoil, hesitancy and uncertainty there seems to be ever-growing clouds forming around our future and more importantly our ability to look after ourselves in our twilight years.  With the erosion of the majority of Superfunds, people have seen their wealth wiped by up to 40% in line with the stock market ...

Often when real estate values climb as strongly as they did in recent years, rent levels lag behind. Consequently, many people wonder if it isn’t better to keep renting and buy later when prices level?

However, this imbalance between rents and mortgages is usually short-lived. Current data from REIWA show that typical rents...

Reduced investor activity in the Perth market has put pressure on rents and prices are not expected to drop in the second half of the year, says Harcourts WA chief executive Andrew Moore.

The global financial crisis and credit crunch had discouraged many investors from entering the market and incentives needed to be established to...