The number of home loans approved fell the most in five months in July, underscoring ongoing weakness in the nation’s housing sector. The number of loans dropped 1 per cent to 44,804, lower than a downwardly revised 45,278 in June, the Australian Bureau of Statistics reported. Economists had expected housing finance commitments to be flat in July.
Bigger grants for new home purchases may fail to revive Queensland’s ailing construction sector, the Real Estate Institute of Queensland (REIQ) says. The Newman government’s first budget will more than double the grant for first home buyers who purchase new properties, to $15,000. But it will scrap a $7000 grant
Real Estate Institute of Australia (REIA) President, Ms Pamela Bennett says the June housing figures released today by the Australian Bureau of Statistics (ABS) show there’s been little response to the interest rate cuts of May and June. Housing finance figures for June 2012 show, in trend terms, that the
New homes starts plunged in the first three months of the year despite two rate cuts from the Reserve Bank in at the end of last year. Dwelling starts tumbled 12.6 per cent in the first three months of the year, following a 6.9 per cent drop in the final
Australia’s top central banker says recent interest rate cuts are not designed to spare mortgage holders the pain of falling house prices. Reserve Bank Governor Glenn Stevens said he had no intention of engineering a return to the spiralling property prices and household debt levels which characterised the pre-2007 housing
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 3.50 per cent, effective 6 June 2012. Growth in the world economy picked up in the early months of 2012, having slowed in the second half of 2011. But more recent indicators suggest
Choosing an accountant is much like choosing any other professional, such as a lawyer or plumber. The key is to shop around. What accountants can do for you How to find an accountant Questions to ask What accountants can do for you For most of us, the word ‘accountant’ makes
Homes across Australia are now at their most affordable in two years as falling interest rates and a slide in house prices put property ownership in reach of more households. A key housing affordability index that tracks the relationship between household income, mortgage costs and price of housing shows conditions
Many small businesses operate from the owner’s home. This could mean the factory is a shed in the backyard and the office a corner of the kitchen or dining room table. For others the business can have a separate section of the home or permanent structure on the property