Media Releases
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Reserve Bank Interest Rate Announcement
Tuesday, 2nd October 2012
The Reserve Bank has cut official interest rates in response to a worsening outlook for the economy. For more information go to http://news.domain.com.au/domain/real-estate-news/rba-cuts-interest-rates-20121002-26wry.html more
Higher home values do not equal higher rates
Wednesday, 8th August 2012
Higher home values do not equal higher rates With home owners receiving their annual rates bills right about now, there is a lot of attention being paid to council valuations and how much the bill itself has changed. The most common misconception is that the rates bill should not go up by more than the increase in the value of the property. The fact is that the two issues are not really related: your council valuation could fall yet your rates may still increase. This is because the c... more
Reserve Bank leaves rates on hold
Tuesday, 6th March 2012
The Reserve Bank has kept interest rates on hold today.The move was expected after the Reserve Bank governor, Glenn Stevens, recently indicated he is comfortable with lending rates at the moment.Rates will remain at 4.25 per cent. "We may well see further cuts this year but the Reserve Bank has decided that this month is not the time to deliver them," says Domain property expert Carolyn Boyd. The move follows back-to-back rate cuts in November and December last year, and a de... more
Supply and Demand Update
Tuesday, 21st February 2012
Late last year the Federal Government’s National Housing Supply Council released its 2011 State of Supply report. The latest report has been eagerly awaited since the 2010 report highlighted an Australia-wide gap of 178,400 between the supply of and demand for homes in 2009. The latest report estimates that the nationwide gap worsened by 8,400 homes to 186,000 and, under current medium-level assumptions, it is projected to grow to 640,200 in 2030. Most of that shortage &nd... more
Buyers rights to cool-off change on March 1
Tuesday, 7th February 2012
If you are a buyer of residential real estate you will find that, beginning on 1 March, the cooling-off rules have changed. On that date you will no longer lose your right to cool off just because you sought and obtained advice from your lawyer before you signed your contract. From 1 March, if you intend to use your lawyer to help you with your purchase you will be on the same footing as someone who employs a conveyancer, so far as cooling-off goes. Previously, if you sought advi... more
Reserve Bank Interest Rate decisions 07/02/2012
Tuesday, 7th February 2012
In its first meeting of the year, the Reserve Bank has kept interest rates on hold today.Many economists had bet the Reserve Bank would cut rates by 0.25 per cent due to worries about the economic situation in Europe. However, rates will remain at 4.25 per cent."Today's decision leaves the gate open for the Reserve Bank to cut rates should the situation in Europe sour," says Domain property expert Carolyn Boyd. The move follows back-to-back rate cuts in November and December last yea... more
House prices increase
Tuesday, 27th September 2011
The Real Estate Institute of Australia (REIA) has released the June quarter Real Estate Market Facts report which shows improved performance in the Australian residential property market compared to the previous quarter. REIA Acting President, Ms Pamela Bennett said, “House and other dwelling median prices increased by 1.2% to $541,188 and 0.5% $430,230 respectively. These are the largest increases recorded since the September quarter of 2010.” Canbe... more
Treasury comments on stamp duties
Tuesday, 27th September 2011
The Real Estate Institute of Australia (REIA) has welcomed the comments made by the Secretary of the Treasury, Dr Martin Parkinson, that there needs to be a move to abolish state-based real estate stamp duties. Mr Parkinson identified stamp duties as the biggest drag on productivity and a tax which inhibits economic adjustment. “The REIA has long advocated reform of state property taxes,” said REIA Acting President, Ms Pamela Bennet. “State based stamp duties a... more
Rates rise in December: NAB
Wednesday, 11th November 2009
NAB has said the Reserve Bank will raise interest rates 25 basis points in every board meeting until March. According to the bank's latest monthly business survey and economic outlook, the official cash rate should climb to 4.25 per cent by early 2010. NAB's cheif economist Alan Oster said growing consumer confidence and an improvement in business conditions had increased the likelihood of another 25 basis point increase before Christmas. rebonline.com.au more
FHB volumes drop 27pc - rebonline.com.au
Wednesday, 11th November 2009
The number of first home buyers entering the property market has fallen by 27 per cent in September, according to Australian Finance Group (AFG). The fall in first home buyer activity was largely expected, given that September was the last month of the reduced federal grant. At their peak, first home buyers accounted for more than $732 million or 28 per cent of AFG'S total volumes. rebonline.com.au more
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