According to the Real Estate Institute of Western Australia (REIWA), “The Perth median house price was unchanged over the September quarter at $482,000, following revisions to the June median house price, with sales volumes falling marginally.” Rents remained unchanged at median of $450 per week. Growth in the market is a reflection of the strong first-home buyer activity. Lots of factors continue to build pressure on prices such as higher rents and low vacancy rate. Property market is more competitive nowadays compared previous quarter and house prices become stable. Do we think, we could continue this competitive market these coming quarters?

http://www.propertyobserver.com.au/residential/perth-house-prices-unchanged-in-september-quarter-with-first-home-buyer-numbers-rising-reiwa/2012102257353


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Based on the latest figures of Australian Property Monitors, “rents climbed 4% to $520 per week in Sydney, while the average cost of leasing a home in Perth reached $450 per week, an increase of 4.7%.” Perth’s rental market is on the rise because vacancy rate remains tight and population growing.  Nowadays, interest rates are low, investors are back to the market and now rents have increased these were the reflection that Australian Property Market is very strong.

According to Andrew Wilson of APM, “Overseas property investors may be attracted to Australia Real Estate if the rental prices keep increasing.” It means the housing demand is very strong and immigrants’ levels rise tremendously. Housing strong demand and low supply of housing makes investors invest and home buyers may return to the market.

http://www.propertyshowrooms.com/australia/property/news/rental-prices-soar-for-australian-property_312437.html

 


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Based on the Latest Genworth Homebuyer Confidence index,  “which measures sentiment among those who own or are thinking of buying a property, rose 2.1 index points to 98.4 points in September.” Basically, Australia’s homebuyers believe now, this is the time to buy a home and it shows confidence in property market. Interest Rate cuts influenced why home owners and buyers are more confident now in the property market. However, property market will never become stagnant and house prices may increase also. I think, increasing confident about property market, fair house prices and reasonable interest rate may be the real factors that property market is improving. Anyhow, this is a good time to invest or to buy a home.

http://www.perthnow.com.au/news/breaking-news/homebuyers-more-upbeat/story-e6frg12u-1226481878226


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Unemployment is one of the factors that really influence the economy. Past months ago, employment in Australia is very in demand because of the mining sector but what happened, why unemployment rise? Is this the reason why the economy crashed?

According to Roy Morgan Research released last Monday, the results of its latest unemployment and under-employed survey, “Unemployment in Australia is now at 10%, and quite a bit higher than experienced during the GFC.” There are so many factors behind this, but what is the key driver in the increase of unemployment? Are there more people now participating in job market? We have different views why unemployment rise but the mere fact is, rising of unemployment really affects the economy. Indeed, unemployment needs to decrease and I think people now, after the retrenched employees for holidays, more people now back into looking for work.

http://www.whocrashedtheeconomy.com/


Tags: ABS, Unemployment

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The National Australia Bank (NAB) monthly survey, September 2012 reveals that business confidence may have improved but the business condition still below average. Prices rising 0.4% nationally, indication that market will recover in coming years. The survey implies that Gross Domestic Product growth will be around 2.75%-3% but it is slightly below the trend. Commodity prices and Australian dollar really influenced why confidence remained below average? I think mining also is one of so many factors why, because mining states were hit harder than non-mining states that may cause to weakening commodity prices.

http://www.theaustralian.com.au/business/economics/business-confidence-lifts-but-still-below-average-nab-survey/story-e6frg926-1226491933358

 

Residential Property Survey _September 2012_-1.pdf (188.53 kb)


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RP Data figures released today show that, across Australia, capital city dwelling values rose by 1.4% over September, the largest month-on-month rise recorded since March 2010. In this, Perth has consistently maintained its rise in housing values with 1.6% rise. September is the month in which housing market back on the track with the influence of interest rate cut. I think another cut in Interest rate may lead housing market condition become competitive.

 

 

http://www.oneperth.com.au/category/metropolitan/


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Is this the right time to buy or invest? Was the interest rate cuts helped the property market? These are some of the questions that need an answer. More confidence from homebuyers shows property market is improving.

Based on the latest Genworth Homebuyer Confidence Index, “ which measures sentiment among those who own or are thinking of buying a property, rose index points in September”. According to the survey, I think this is a good time to buy a house or invest a property. The index looks good because it really respond the interest rate cut. Many are expecting another interest rate cut maybe in November, so probably the homebuyer’s confidence will increase more.

http://www.perthnow.com.au/news/breaking-news/homebuyers-more-upbeat/story-e6frg12u-1226481878226

 


Tags: Homebuyers

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