REAL ESTATE

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.

Real estate developer Mirvac Group (ASX: MGR) is getting fresh funding through the bond market.

Australia and New Zealand's manufacturer of clay and concrete products calls on the state governments to release more land for real estate development.

The Odin's Warriors Motorcycle Club stands to collect a million dollars when it hands over its clubhouse to the state government.

Real estate developer CIC Australia Limited (ASX: CNB) created a number of options after announcing its interest to engage in a partnership.

Fears of an increase in interest rates are more intense with home loan customers.

South Australia's Davenport Aboriginal community had to turnover its housing leases to the State Government.

Heritage conservation group National Trust lost in its court battle against the redevelopment of the historic Windsor Hotel of Melbourne.

Office spaces in prestigious Melbourne buildings are being filled up.