As we head into 2012 pondering where the housing market is headed – will it be down 10 per cent as some commentators are expecting, or will others be on the money with predictions of 5-7 per cent growth – there is some interesting news emerging about home loans. Out
New home sales jumped in November in response to the Reserve Bank’s interest rate cut. The sales of new homes rose 6.8 per cent in November, following a downwardly revised increase of 2.8 per cent in October, according to the Housing Industry Association – Jeld Wen new home sales report.
AUSTRALIAN housing markets displayed a generally resilient performance in 2011, reflecting the inherent security of residential real estate in this country, particularly when compared with housing markets in similar open-market economies. The year was always set to be a period of correction for Australia’s housing markets following the unsustainable growth
The Brisbane property market has been the worst performer of the capital cities in the nation with the median house price taking a tumble of 7 per cent. Australian Property Monitors released its annual State of the Market report this morning, which took stock of the performance of property markets