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Average home sale profits $240K: report


Most people who sold their home in the first quarter of 2016 made a profit, with the average gain around $240,000 a new report shows.

Of the homes sold in the first quarter, nearly 91 per cent were sold at a profit, according to the "Pain and Gain" report from market analysis firm Corelogic.

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Housing auction demand strong last week


Auction clearance rates remained high last week, signalling ongoing strength in the housing market despite the impending election and measures to limit rampant lending to investors.

In the week ending Sunday, 69.1 per cent of auctions were completed with a sale, based on a preliminary count by industry analysts CoreLogic.

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Housing prices growing faster this year


The housing market warmed up further last week, despite the onset of winter.

The two major markets recorded solid gains over the week ending Sunday, according to the weekly report from CoreLogic.

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Big four banks could fall together: APRA


The big four banks' domination of the market means a big enough external shock could bring them all down in one go, the banking regulator has warned.

Australian Prudential Regulation Authority executive Charles Littrell says Australia's banking system is the most concentrated it has ever been.

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Property market pumps up NSW surplus


Sydney's thriving property market will help deliver a higher-than-expected surplus for NSW in the coming financial year.

The NSW government has forecast a surplus of $3.7 billion for the 2016/17 financial year in Tuesday's state budget, improving on the $3.2 billion surplus predicted during its mid-year budget review in December.

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Reserve bank puts $A in the spotlight


The Reserve Bank has repeated its warning that a rising Australian dollar could get in the way of the economy's adjustment to the end of the mining investment boom.

And that means the exchange rate could be the trigger for the next rate cut

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No end to boom in house price dip


If you think the recent decline in housing prices means the boom is over, think again.

Average home prices fell slightly around Australia in the week ending Sunday, the latest figures from property market analytics firm CoreLogic show.

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Opaque RBA leaves economists puzzled


Economists did their best to look behind the Reserve Bank's veil of words this week but there wasn't much to see.

The central bank kept its benchmark interest rate on hold at 1.75 per cent on Tuesday, as expected, but its accompanying announcement was unusually light on the clues economists usually manage to find in it.

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Personal loans spike 5% in April


The value of new personal loans surged 5.0 per cent in April to $7.7 billion.

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Qld to introduce foreign buyer fee


The Queensland government will set a three per cent transfer duty surcharge for foreign buyers of residential property in the state.

Treasurer Curtis Pitt says he expects the fee to raise $15 million in its first year and $25 million a year after that.

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Loans to housing investors drop


The value of investor housing loan approvals has fallen to a near two-year low, adding weight to the view the Reserve Bank could cut interest rates again without fear of rekindling a price boom.

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Strong GDP no bar to rate cut


The way the foreign exchange market reacted, you'd be forgiven for thinking the latest economic growth figures make an interest rate cut less likely.

But the market needs to look again.

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OECD expects interest rate hikes in 2017


Make the most of low interest rates.

The Organisation for Economic Cooperation and Development expects the Reserve Bank will start increasing the cash rate next year.

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Home loans top $1 trillion


The amount of money Australia's home owners owe their banks rose above $1 trillion for the first time in April.

In percentage terms, the rise in the value of outstanding home loans since March was only a modest 0.5 per cent, but it lifted the annual growth rate to a five-year high of 7.4 per cent.

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Home prices jump 1.6% in May


Housing prices in Australia's capital cities have jumped 1.6 per cent, lifting the annual growth rate from 7.3 per cent to 10.0 per cent.

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New home sales slide in April


New home sales have fallen, but the oulook for home building remains healthy.

New homes sales fell 4.7 per cent in April, following an 8.9 per cent rise in March, according to the Housing Industry Association.

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House prices to grow, just more slowly


House prices will grow more slowly under Labor's changes to negative gearing and capital gains tax, an ALP-aligned think tank predicts.

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Parties rule out housing land intervention


Don't expect a coalition or Labor federal government to directly intervene in state land supply decisions in a bid to make housing more affordable.

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Negative gearing talk spurs investor loans


Mortgage brokers are reporting increased interest in investor mortgages as buyers rush to get on board before possible changes to negative gearing after the federal election.

The head of the brokers' industry body says minds have been focused by Labor opposition proposals to limit negative gearing to investment in new properties should it win the election on July 2.

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Tas first-home builders to get $2k grant


First-time Tasmanian home builders will be eligible for an increased state government grant of $20,000 under a revised scheme written into the upcoming budget.

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