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Australia’s economic growth is expected to be among the highest in the developed world next year thanks to mining investment and booming commodity prices, according to a report from the Organisation for Economic Cooperation and Development.
Fixed rates have continued to fall below the 6% mark, with a non-bank lender announcing cuts to its product suite.
Close to a third of all properties coming onto the market over the last two months were from forced sales, a LandMark White sales index has revealed.
Renovations continue to spur building activity as homeowners pass up new purchases in favour of adding value to their existing homes.
New vacancy rate data shows a rental market that is "excessively tight", with vacancies dipping slightly in October.
Mining areas have proven the big winners of the Queensland property market, dominating the state's growth suburbs.
Renters are spending more of their weekly income on housing costs than those with a mortgage, according to research by RP Data.
The Queensland residential property market appears to be on the mend, staging an impressive recovery over the September quarter, according to a REIQ September median price report. The report found that sales activity has strengthened across the state with preliminary house sale numbers up 17% on the June quarter.
Homeowners looking to refinance could be shocked to find their mortgages underwater, it has been claimed.
The popularity of high density living has heightened as single dwelling prices become more expensive.
Low investor participation is seeing vacancy rates in Queensland tighten.
Aussie consumers have no plans to jump into the property market, even though savings are up and mortgage stress is down.
Unemployment fell slightly in October, but the move may not indicate a pattern. Yesterday's figures from the Australian Bureau of Statistics show the unemployment rate has tracked downward slightly, sitting at 5.2% in October compared to the ABS' revised 5.3% for September.
Unsold housing stock is nearing record levels, and would take nearly eight months to clear.
The RBA’s decision to lower interest rates by 0.25% has boosted consumer confidence in the market, according to Westpac and the Melbourne Institute’s monthly consumer confidence survey.
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