|January 2008||News Article|
Rates rise hits home sales
New home sales fell in the final month of 2007, the second consecutive decline, as higher interest rates and further pressure on house prices bit into the new home building industry.
Canberra set to overtake Perth for housing prices
Canberra is set to overtake Perth as Australia's second-highest priced market in Australia after Sydney.
Australia has least affordable housing in the world, survey says
AUSTRALIAN housing is the least affordable in the world, according to a survey of 227 cities published in the 2008 Demographia study of international housing affordability out this week (week ends 26 January 2006).
Skills shortage in housing gets worse
The skills shortage in the housing industry has worsened, according to figures out today (24 January 2008).
Share crash to ease interest-rate pressure
The crash this week (week ends January 26) in the share market is likely to ease the pressure on the Reserve Bank to increase interest rates next month.
Inflation war to help housing
The Government's plan to fight inflation will help housing affordability, according to the Housing Industry Association.
Sub-prime share crisis not affecting property
The US sub-prime mortgage crisis and its flow through to the Australian share market is not affecting property markets in Australia.
Weak leading for new homes
Lending for new homes was weak in November, according to figures released today (16 January) by the Australian Bureau of Statistics.
Trend is towards fixing interest
More people are taking out fixed-rate mortgages, according to figures out this week (week ending 19 January 2008).
Canberra houses bigger, more costly
The size of the average Canberra dwelling has risen 45 per cent to 254 square metres in the past decade as the price of houses continues to soar according to figures out this month (January 2008).
Commbank raises rates
Commonwealth Bank is to become the third major Australian bank to raise its mortgage rates, up to 8.67 per cent.
Banks raise rates
Two of Australia's largest banks have raised their interest rates in the last week, with more banks expected to follow.
MBA questions housing recovery
Dwelling approvals increased in November but Master Builders Australia is questioning the sustainability of a housing recovery.
First Molonglo suburbs named
The first three suburbs of Canberra's newest housing region, Molonglo, are to be named after poet Judith Wright, prominent public servant Herbert 'Nugget' Coombs and architect Sir John Sulman.