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April 2008 News Article
30 April ACT market levelling, maybe falling
The housing market in the ACT has leveled and is possibly falling, according information put to an ACT Property Council market outlook presentation this week (week ends 3 May 2008).
28 April Prices to stay high as building cannot catch up
Construction continues to lag behind demand so house prices will stay high despite interest rate rises, according to the latest residential survey by the Housing Industry Association.
24 April Rampant inflation signals another rate rise
Increased mortgage stress for borrowers is likely as inflation hit an annual rate of 4.2 per cent, dashing chances of a cut in interest rates this year and increasing the possibility of another rate rise.
24 April First-home buyers ripped off by Stanhope taxes: Opposition
The Canberra Liberals have reacted angrily to Chief Minister Jon Stanhope's assertion yesterday (23 April 2008) that their plan to abolish stamp duty for first-home buyers was a "stunt" compared to Labor's Affordable Housing Action Plan.
23 April Tax review must consider housing: HIA
Prime Minister Kevin Rudd's plan to conduct "root and branch reform of the Australian taxation system" must consider measures to reduce taxation on new residential property, according to the Housing Industry Association.
23 April Stamp duty "stunt" won't cut cost of a house: CM
The Liberal Party's "one-shot solution to housing affordability" is a cynical exercise that the Opposition knew would do nothing to drive down the cost of housing in the ACT, Chief Minister Jon Stanhope said today (23 April 2008).
23 April Unified planning regime for Canberra
The ACT Planning and Land Authority has agreed to work with the National Capital Authority to administer a single planning document for the city.
22 April RBA's $1.1 billion bid to revive bond market
The Reserve Bank has taken on more than $1 billion worth of household mortgages over the last few days to help banks continue lending and revive the market for mortgage-backed bonds.
22 April One in five stressed borrowers lose homes
About 20 per cent of people under mortgage stress will lose their homes, according to a new report titled Anatomy of Australian Mortgage Stress.
21 April Help renters become buyers: 2020 summit
Head of World Vision Tim Costello pushed for the Federal Government to assist renters to buy the homes they live in during the weekend's (19 – 20 April 2008) 2020 summit in Canberra.
21 April Slow weekend for auction clearances
Weekend clearance rates for houses up for auction were low across the country over the weekend (19 – 20 April 2008), with a significant glut of properties remaining unsold at the top end of the market.
20 April Lenders tighten fund availability
The United States credit crisis and subsequent collapse of the securitisation market has resulted in a key repercussion for Australian homebuyers - home loans are becoming increasingly difficult to get.
20 April Rate hikes have plateaued: RBA
Another rate rise will not be necessary to further curb inflation pressures, according to minutes of the Reserve Bank of Australia's April board meeting issued during the week (week ends 19 April 2008).
19 April First-home accounts plan open to change
Prime Minister Kevin Rudd has acknowledged that the Government's first-home saver accounts plan is "complex", and indicated that the design could change.
19 April Property laws won't disadvantage homeowners: Sartor
Proposed compulsory acquisition laws will not enable developers to seize the property of homeowners unless an urban renewal project is in the works, according to NSW Planning Minister Frank Sartor.
18 April Federal first-home savers account slammed by critics
Treasury inquiry into the federal government's first-home saver account plan has attracted widespread criticism from consumer groups, super funds and other financial bodies, according to submissions obtained by Fairfax media.
18 April NSW renters fear conflict of interest for MP landlords
Renters in NSW fear a conflict of interest may hinder solutions to the state's rental problems after it was revealed yesterday (17 April 1008) that more than one in three state politicians own investment properties.
17 April Home ownership rates higher in rural Australia
Home ownership rates are far higher in rural areas than in major urban centres, according to a comprehensive study of rural Australia.
17 April Sydney property market recovery two years away
Growth in Sydney's residential property market may not begin to occur until 2010, according to a survey conducted by the Australian Property Institute (NSW Division).
16 April Rate rises hit home lending
The drop in home lending in February is the beginning of further falls to come, according to peak building and construction industry organisation Master Builders Australia.
15 April Interest rises hitting hard
Recent interest rate increases are hitting housing hard with the value of housing loans decreasing 7.1 per cent in February and the number of loans falling by 5.9 per cent.
13 April Forecasters stretch the imagination
Two leading property forecasters are poles apart on where house prices are going over the next five years.
12 April Fed move to save e-conveyancing system
The Federal Government is considering an ownership role in the proposed national system of electronic conveyancing
10 April ACT affordable housing plan working: CM
The ACT Government's affordable-housing plan is working, according to Chief Minister Jon Stanhope, who cited this weeks' (week ends 12 April 2008) building-approval figures.
4 April Fast NSW planning approval on the way
Builders and renovators could get their plans approved within 10 days, under a revamp of NSW planning rules.
1 April New home sales weakened in February
The Housing Industry Association's New Home Sales figures released today (31 March) for February 2008 show a drop of 5.3 per cent in the sale of new homes and units among Australia's largest builders and developers. Detached house sales fell by 5 per cent and multi-unit sales were down by 7.5 per cent.
1 April Steep rent rises on the way
Capital city rents are expected to go up by 50 per cent in the next four years, according to a leading property analyst.