Real Estate News Australia
Archived Articles

Home Mortgagees Welcome Tax Cuts, but First Home Buyer Problems Still to be Addressed  16/10/07
Housing Affordability must be on the Election Agenda  19/10/07
Demand-Supply Imbalance Drives Prices, Rents up  6/8/07
Affordability plummeting, more pain to come  27/8/07
Doors Closing on People Trying to Buy a Home  8/8/07
No Excuses for Hiding the Facts    8/5/2007
Housing Affordability Has Not Made The Headlines   4/5/07
Home Buyers breathe easy   4/4/07
State Treasurers Stop the stamp duty Rort   23/3/07
Low Affordability Challenges Gen X, Y   8/3/07
Qld Property still Healthy   7/3/07
Steady Interest Rate Welcomed   7/2/07
2007 Real Estate Market Outlook   3/1/07

‘Home mortgagees will welcome tax cuts proposed by the Government, but the structural issues underpinning Australia’s declining housing affordability are still to be addressed.’ says Graham Joyce, REIA President. ‘The phased approach to tax cuts will minimise the risk of interest rate pressure, an issue important for all home buyers, and particularly buyers with sizeable mortgages. More money in home buyers’ pockets will assist in reducing mortgage stress for those who entered the market in recent years...

More...

Real Estate Institute of Australia, Media, Media Releases, 16th October, 2007

'Housing Affordability must be on the Election Agenda'

Housing affordability, now at critically low levels right across Australia, must be on the election agenda as a priority, says Graham Joyce, REIA President. With only five weeks left until election day, Australia’s aspiring first home buyers want both major parties to declare their position on housing affordability and outline strategies which will provide real solutions to one of the major socio-economic challenges of recent times... More...

Real Estate Institute of Australia, Media, Media Releases, 19th October, 2007

'Demand-Supply Imbalance Drives Prices, Rents up'

The imbalance between demand and supply in the housing market has begun to drive prices up, with house prices increasing during the June quarter in Sydney, Melbourne, Canberra, Adelaide, Darwin and Hobart, according to the June quarter edition of the Mortgage Choice/REIA Real Estate Market Facts. Perth prices were unchanged over the quarter... More...

Real Estate Institute of Australia, Media, Media Releases, 6th September, 2007

'Affordability plummeting, more pain to come'

Home loan affordability is close to the lowest point recorded by the REIA in the 22 years it has published affordability data. The June quarter 207 edition of the Deposit Power/REIA Home Loan Affordability Report found that 36.2% of family income was required to meet average home loan repayments. Following the August 2007 interest rate rise, more pain is set to come for home buyers...

More...

REIA Media Release,27/8/07

'Doors Closing on People Trying to Buy a Home'

Today’s decision by the Reserve Bank of Australia to lift interest rates by 0.25% is very unwelcome news for already stretched home buyers, says Real Estate Institute of Australia (REIA) President Graham Joyce... More...

REIA Media Release,8/8/07

'No Excuses for Hiding the Facts'

The courts take a dim view of any failure to disclose a beneficial interest in property transactions, as demonstrated in a recent decision.

Fair Trading Minister Margaret Keech said GC Fallon Pty Ltd, trading as Ray White Hervey Bay, failed to adequately supervise a salesperson who obtained a beneficial interest in a property listed for sale with the company.

"The property was on-sold less than one month later, giving the salesperson a tidy $30,000 profit," Mrs Keech said...

More

Qld Office of Fair Trading, News, Fair Trading Update, 8th May, 2007

'Housing Affordability Has Not Made The Headlines'

The 2007-08 Federal Government Budget will promote continuing sound economic management including full employment and low inflation. However this Budget has not seriously addressed the critical social issue of housing affordability...

More

REIA, Media Release, 4th May, 2007

'Home Buyers breathe easy'

Today's decision by the Reserve Bank of Australia to leave interest rates on hold is welcome news for home buyers, says REIA President Graham Joyce. Low affordability is a serious challenge for Gen X and Y, the Rent Generation. Those seeking to get into the home buyer market will be relieved that interest rates continue to be stable, although they should budget for possible future increases when considering taking out a home loan... More

REIA, Media Release, 4th April, 2007

'State Treasurers Stop the stamp duty Rort'

The REIA agrees with the Commonwealth Treasurer's call for State Governments to reduce or abolish state property taxes, in order to improve housing affordability. The State Treasurers have an opportunity to commit to making a real difference to housing affordability at their meeting on Friday 30 March. There are a number of reasons why housing affordability is at its lowest point in 25 years apart from a one year period between June 1989 and June 1990. A major reason is stamp duty. The stamp duty rort must be stopped now...

More

REIA, Media Release, 23rd March, 2007

'Low Affordability Challenges Gen X, Y'

Gen X and Y Australians, stuck in the rent trap and struggling to save a deposit for a first home purchase, may well be called the Rent Generation, says REIA President Graham Joyce. Home loan affordability plunged in the December quarter 2006 with 35.2% of median weekly family income required to meet average loan repayments, according to the Deposit Power/REIA Home Loan Affordability Report. Across Australia, home loan affordability declined by 3.9% over the quarter and by 8.0% over the year, worsening in all States and Territories except Tasmania over the December quarter...

More

REIA, Media Release, 8th March, 2007

'Qld Property still Healthy'

Defying interest rates, cyclical slowdowns and national trends, the Queensland residential property market showed healthy increases over the December 2006 quarter and steady growth over the year due to a robust economy and continuing population growth.... More

REIQ, Media Release, 7th March, 2007

'Steady Interest Rate Welcomed'

The Real Estate Institute of Queensland (REIQ) today welcomed the Reserve Bank of Australia's (RBA) decision to leave interest rates unchanged at 6.25 per cent.

The RBA increased the cash rate by 25 basis points three times last year - in May, August and November.

REIQ managing director Dan Molloy said the decision was welcome news for existing homeowners, first home buyers and renters and would serve to stabilise Australia's deteriorating housing affordability... More

REIQ, Media Release, 7th February, 2007

'2007 Real Estate Market Outlook'

A continued softening of the residential sales market in the Eastern States, and rental increases in response to tight vacancy rates, will ultimately lead to improved residential investor yields, creating new interest to re-stimulate the market and values. The negative impact of the drought on the rural and regional economy can be expected to have a negative multiplier effect which will be particularly evident in rural and regional towns and cities, and may have a flow-on effect to the capitals... More

REIA, Media Release, 3rd January, 2007

Return from Real Estate,News Australia Archived
to
Home Page