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    Aust set for years of low rates: economist

    Posted by Real Estate Investar on Wed, Sep 28, '16

    Australia's interest rates are likely to stay low for years, perhaps even decades, a top global economist warns.

    US futures trader and exchange operator CME Group's executive director and senior economist Erik Norland, who is visiting Australia this week, says any rate rise forcing Australia's debt-laden companies and households to pay more interest could be crippling and unbalance the entire economy.

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    Topics: Interest Rates

    Loan scheme core of northern Tas stimulus

    Posted by Real Estate Investar on Wed, Sep 28, '16

    A $60 million interest-free loan scheme is the key component of a stimulus package for northern Tasmania, announced by the state government.

    The Liberal administration wants to close the north-south divide in economic growth and Premier Will Hodgman, together with Treasurer Peter Gutwein on Tuesday unveiled a plan valued about $100 million.

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    Topics: housing

    The housing merry-go-round is slowing

    Posted by Real Estate Investar on Wed, Sep 28, '16

    On the face of it, the housing market is still going strong but appearances can deceive.

    As of last week, average prices in the mainland state capitals were up by seven per cent from a year before, according to property analytics firm CoreLogic.

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    Topics: housing

    Property auction activity picks up

    Posted by Real Estate Investar on Mon, Sep 26, '16

    Home buyers and property investors have been busy with auction clearance rates picking up around the country.

    Data from CoreLogic shows that 78.3 per cent of the 2,445 residential property auctions held across capital cities in the week to Sunday, resulted in a sale, up from a 76.2 per cent clearance rate for the 2,149 properties in the previous week.

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    Topics: homes

    Homeless housed from NSW property sell-off

    Posted by Real Estate Investar on Mon, Sep 26, '16

    Hundreds of homeless and disadvantaged people now have a roof over their heads as dwellings built from the sales of valuable NSW properties are completed.

    Nearly 650 dwellings have been completed or are being constructed around Sydney after the NSW government sold off hundreds of multi-million dollar properties in the inner-city suburb of Millers Point last year.

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    Topics: household, homeless

    The secrets of next-door millionaires

    Posted by Real Estate Investar on Mon, Sep 26, '16

    The way most people build wealth is no secret - Save, invest, repeat. How average people keep their wealth, though, gets a lot less attention.

    It boils down to how they handle risk. It's hard to accumulate wealth without taking some risks, but there are perils that "next-door millionaires" seem to avoid.

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    Topics: housing, money

    Value of housing tops $6 trillion

    Posted by Real Estate Investar on Wed, Sep 21, '16

    The value of Australia's housing has topped $6 trillion.

    Capital city home prices rose an average of 2.0 per cent in the June quarter, the Australian Bureau of Statistics, released on Tuesday, show.

    The increase lifts the total value of the housing stock by $138 billion in the quarter to $6.045 trillion and by just over $1 trillion since the first quarter of 2014.

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    Topics: housing

    RBA not fazed by housing price rises

    Posted by Real Estate Investar on Wed, Sep 21, '16

    The Reserve Bank is not fazed by rising housing prices or by the high auction clearance rates reported recently.

    It's unlikely to lower interest rates again soon, but that's not because it's worried about over-inflating the housing market.

    Average prices for homes on the mainland state capitals have rocketed ahead by eight per cent in the past year, while clearance rates are at 15-month highs.

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    Topics: Interest Rates

    Rate cuts yet to lift consumption: RBA

    Posted by Real Estate Investar on Wed, Sep 21, '16

    Consumer spending hasn't lifted in response to recent interest rate cuts because households are likely prioritising paying off debt, the Reserve Bank says.

    The RBA left its key interest rate on hold at a record low of 1.5 per cent earlier this month, after making two 25 basis point cuts earlier this year.

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    Topics: Interest Rates

    Absent sellers supporting housing prices

    Posted by Real Estate Investar on Mon, Sep 19, '16

    The housing market is holding firm, with auction clearance rates back up to the heights last climbed in mid-2015 and many sellers retreating to the sidelines.

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    Topics: housing

    Housing prices, clearance rates rise

    Posted by Real Estate Investar on Mon, Sep 19, '16

    Solid demand and restricted supply have combined to push auction clearance rates and housing prices skyward, figures from market analysis firm CoreLogic show.

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    Topics: housing

    Avoid most apartments, says property pro

    Posted by Real Estate Investar on Thu, Sep 15, '16

    Investors should avoid medium and high density apartments in most Australian markets, a property investment expert warns.

    Property Investment Professionals of Australia (PIPA) chair Ben Kingsley says one and two bedroom units are facing headwinds from potential tenant shortages and large amounts of supply coming onto the market in the next 18 to 24 months.

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    Topics: house prices

    Perth rental market rebounds as prices dip

    Posted by Real Estate Investar on Tue, Sep 13, '16

    Leasing across Perth's rental market increased by 17 per cent in August, according to new data from the Real Estate Institute of Western Australia.

    All five sub-regions had a rise in leased properties last month and the biggest increases were in the Central and North West areas, which were up 19 and 17.4 per cent, respectively.

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    Topics: rental

    Housing investment likely to wane: RBA

    Posted by Real Estate Investar on Tue, Sep 13, '16

    Housing investment and construction in Australia are likely to wane in coming years, with an accompanying drop in their contribution to the strength of the economy, the Reserve Bank says.

    RBA assistant governor Christopher Kent says residential investment and the housing construction cycle won't add as much to overall economic growth as they have in recent years, when activity in both areas really ramped up.

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    Topics: housing

    Home prices headed higher

    Posted by Real Estate Investar on Mon, Sep 12, '16

    The two major metropolitan markets have led home prices higher, lifting average annual growth for the mainland state capitals to 8.0 per cent, from 7.0 per cent previously.

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    Topics: housing

    House supply question over Sydney market

    Posted by Real Estate Investar on Mon, Sep 12, '16

    Two big questions for housing investors right now are how much of the recent big-city price rises is due to reduced supply, and whether rental yields will be enough when prices stop rising.

    Sydney could be the key test for both.

    There were more homes on the market last week in the Perth, Melbourne and Brisbane/Gold Coast markets than in Sydney.

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    Topics: housing

    Investors driving home price growth

    Posted by Real Estate Investar on Sun, Sep 11, '16

    Home loan approvals fell in July, suggesting investors are driving the recent pick-up in housing demand.

    The number of home loans approved dropped 4.2 per cent in the month and the total value of housing finance was down 1.8 per cent, according to the Australian Bureau of Statistics.

    The value of owner-occupier home loans slumped 3.1 per cent, but the value of investor loans rose 0.5 per cent.

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    Topics: home loans

    Stability, price of risk need balance: RBA

    Posted by Real Estate Investar on Sun, Sep 11, '16

    Incoming Reserve Bank governor Philip Lowe says financial system stability needs to be balanced with the ability to affordably take risks.

    Dr Lowe says that, since the global financial crisis, the cost of intermediation - matching lenders with borrowers - has become more expensive for banks, making the system more stable.

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    Topics: Interest Rates

    Weak house building weighs on construction

    Posted by Real Estate Investar on Thu, Sep 8, '16

    A big fall in house building pushed the entire construction sector into contraction in August.

    The Ai Group and Housing Industry Association Performance of Construction Index fell 5.0 points to 46.6 points in August, from 51.6 points in July.

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    Topics: housing

    Shorten slams govt housing policy

    Posted by Real Estate Investar on Thu, Sep 8, '16

    Opposition Leader Bill Shorten will use a speech on a progressive think-tank report to slam the government for housing policy that "actively pushes up" prices beyond middle class reach.

    Speaking at the launch of The McKell Institute policy blueprint in Sydney on Thursday, Mr Shorten will warn the issue of housing affordability isn't going away.

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    Topics: housing