REAL ESTATE

A jostle for stability and sustainable growth had been the direction of Australian businesses whether big or small in the last nine months, two separate research surveys conducted by the Westpac Banking Corp. and the National Australia Bank had shown.

The National Australia Bank (NAB) today confirmed that its standard variable home loan interest rate would increase by 0.43% pa with a rate of 7.67% pa compared to CBA’s rate of 7.81% and ANZ’s rate of 7.80%.

Lease and housing rentals in Australia's capital cities are likely to increase annually between 3 to 7 percent in the next two to three years, reports said.

Two of Australia's major banks, Westpac Banking Corporation and the National Australia Bank (NAB) are seen following its two competitors in implementing higher interest rates after government authorities tighten up on exit fees.

A professional association for real estate agents in Victoria is calling on politicians to address housing affordability in the state as data show the number of first home buyer numbers has fallen sharply as a result of rising property prices, shortage of stock and higher state government taxes.

Luxury homes will be auctioned tonight at the Sydney Opera House as 11 prime pieces of property including five in Sydney and one in Brisbane will be up for grabs and estimated to cost A$30 million.

Centro Properties Group (CNP.AU) shares have risen by 3.1 percent as the company announced it is engaging in new negotiations with possible new investors interested to acquire its business and assets.

The billion-dollar Queensland LNG projects would further boost job prospects in the state but would also push up the value of real estates that could leave first home buyers reaching deeper on their pockets.

Australia's house prices recorded their smallest quarterly rise since early 2009, reinforcing speculations the Reserve Bank of Australia will keep interest rates on hold this week.

Private sector home building is set to slump following a large reduction in new home sales over recent months, a survey of Australia's major residential builders, shows.

Sydney's main shopping street Pitt Street Mall opens today after two years of construction.

National stratified median house prices remained effectively unchanged at +0.1 per cent for the September quarter - the third consecutive quarter of declining growth - following falls in house prices in most capital cities, according to Australian Property Monitors.

The Property Council of Australia (PCA) says it is time for NSW to wind back a raft of new and higher taxes on the property sector and head down the path of broader reform.

Business conditions in the Australian Commercial Property market improved in the third quarter ending September, driven by gains in the Office and Hotels segments, while conditions in the Retail and Industrial markets, however, remain negative, the National Australia Bank said in the report of its latest survey released today.

The latest Bankwest/Mortgage and Finance Association Home Finance (MFAA) Home Finance Index has showed a record number of first time buyers are looking to their families to help raise a deposit for their home.

More than 60 percent of Australian consumers were in anticipation of a surge in home prices over the next 12 months, which is actually improvement from previous months’ expectations in the current year.

An online poll conducted by Loan Market showed that many Australians were not even aware that there exists a federal program that provides assistance for first time home buyers.

Australian house prices are set to rise as much as 20 per cent over the next three years, thanks to strong economic growth and an ongoing shortage of supply, according to a housing report commissioned by QBE.

Canberra and Adelaide rental prices increased more than the 2.8 percent national average for capital cities last September.

The relative weakness in the construction industry may soon be abated, thanks to the Reserve Bank of Australia's decision to keep interest rates steady.

The Australian authority in residential housing forecasts a 9.5 percent downturn in housing next year.

August's Rismark Home Value Index of the real estate research firm RP Data shows a slight drop in the value of houses in Australia's capital cities.

Australian demand for construction or improvement of home building has declined in August as higher interest rates turned off would-be borrowers.

Hobart was the best-performing capital city in the three months to August, according to a leading supplier of commercial and residential property information services.

The Reserve Bank of Australia (RBA) found the Australian financial system to be strong and profitable.

Global ratings agency Fitch Ratings will conduct several stress tests on Australian banks so as to determine what is likely to happen if mortgage defaults rise as much as eight percent and property prices slump by 40 percent.

Property developers in the Gold Coast are merely waiting for investors to pull out of off-the-plan purchases of more than 900 new apartments.

Wesfarmers Limited (ASX: WES) and Woolworths Limited (ASX: WOW) are preparing for the expected increase in demand for home improvement items.

The Victorian Supreme court has finally agreed to have an April trial for barrister Allan Myers' outback property.