REAL ESTATE

Another decline in dwelling approvals in June is further proof of a wavering residential building upturn, and notwithstanding a monthly increase, there has also been a significant fall in non-residential building approvals as the boost from the Government's economic stimulus fades, according to the peak body for the building and construction industry, Master Builders Australia.

The total number of dwellings approved slumped in June this year, and has been in the downward trend for three months in seasonally adjusted terms, according to the Australian Bureau of Statistics Building Approvals.

The total number of dwellings approved slumped in June this year, and has been in the downward trend for three months in seasonally adjusted terms, according to the Australian Bureau of Statistics Building Approvals.

New home sales slumped for a second consecutive period in June to a 17-month low, as rising interest rates continued to wear away demand.

Australian city home prices declined in June, the first time in 17 months as interest rate hikes sent auction clearance rates lower.

Victoria issued a total of 113,670 building permits in the past financial year reaching a total worth of $23.9 billion and according to the latest figures published by the Building Commission on Thursday, loan grants for the state’s first home buyers spiked up by 30 percent to $13.1 billion in 2009/10.

Many Australians are bracing for a property slowdown over the next 12 months following the accelerated price expansion seen last year as the latest survey by the National Australia Bank (NAB) showed that the annual property price growth plunged from the 5.2 percent posted in March to a mere 1.4 percent in the June quarter.

Australian house prices continue to increase in most capital cities, but growth pace is slowing, according to a June quarterly house price report released today by online real estate data group Australian Property Monitors (APM).

Eight out of ten Australians are concerned about a lack of infrastructure and affordable housing amid the expanding and ageing population, according to new research findings.

The upswing in commodity prices will generate property investment opportunities in Australia's key resource regions over the next year, according to analysts.

Queensland’s construction industry has been on the decline for the past three months as a new report by the Queensland Master Builders Association (QMBA) showed on Thursday that up to 75 percent of polled businesses believed that building activity would either decline or stabilise in the coming 12 months.

The Housing Industry Association (HIA) said on Wednesday that new home sales fell to a three-month low in May thanks to the ever-increasing interest rates which further doused cold water on an already struggling fresh housing demand recovery.

The Housing Industry Association (HIA) is anticipating a sluggish development in new home building by next year as it cited that the government’s slow progress in releasing more lands and the dwindling availability of funds for real estate developers are tempering fresh housing initiatives.

The ACT government auctioned off two significant city sites on Monday; the land and property services expert handling the sale was caught off guard by the apparent disinterest shown by national property developers.

The Australian property market is known as one of the world's best performers despite a 20 per cent rise in prices since last year.

Household savings have dramatically changed for the better in the June quarter, however, credit cards became the major cause of debt in Australia, according to a recent survey.

Australians are ignoring forecasts of the Reserve Bank that another interest rates may occur in the next few weeks as they continue to buy real estate properties.

House prices in Perth are expected to rise sharply over the next three years, faster than any other capital city in Australia, experts had predicted.

House prices in Perth are expected to rise sharply over the next three years, faster than any other capital city in Australia, experts had predicted.

The Sutherland Shire in Sydney topped this year’s listing of the worst areas in the nation for real estate investments, as compiled by real estate analyst and writer Terry Ryder in his annual ‘No Go Zones’ report released Wednesday.

Three Western Australian regions have made it to the top list for construction of new homes.

Ray White, the country’s largest real estate and property group, says that there is still a shortage in properties and housing in Australia. But the group also marked positive sales. Ray White recorded an eight per cent sales increase on May.

The Housing Industry Association (HIA) has affirmed concerns earlier by Western Australia’s Chamber of Commerce and Industry (CCI) that the state government would need to release more land and increase urban density in order to encourage more affordable housing availability.

High prices of housing will slow down the growth of the country’s next boom since this will push labor shortages, says an economist.

If purchasing a house in Australia is a bit challenging decision to make, the Federal Government has released its research data revealing places that are likely to have affordable houses for sale.

Index reports have shown that home prices in April went for a halt with some capital cities citing some falls and others barely made it on the marginal gains.

After more than a year of property price growth, signs are starting to show that the residential property boom is slowly grinding to a halt with most major cities around Australia posting either declining or moderate growths.

An economics professor commented on Thursday that plans for three new satellite cities in Queensland's south east will pose a major problem for people to move to regional areas.

The Queensland Government declared on Wednesday its plans to build three brand new cities in the state's southeast from the ground up to answer to the problems of population growth.