“The ‘renaissance’ in demand for rental accommodation in Perth from workers servicing the mining industry in the state is expected to trigger a recovery in the housing market”,  according to ANZ’s latest property outlook report. Past months, Perth was experiencing a tightened rental vacancy rate because of the strong demand for labor from mining investment. WA housing market has benefited from the mining investment boom, and this improvement for rental triggers a recovery in Perth housing market. Investors and homebuyers are back on the market that drives house price become higher. Mining investment makes the Australian to boost and become the strength of the economy.

http://www.propertyobserver.com.au/hotspots/rental-demand-renaissance-from-mine-workers-to-push-up-perth-property-prices-anz/2012092656816


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WA is known for mining in the world. Would it be the reason for having a good economy? Is mining boom helps economy to rise?

According to the Structural Change and the Rise of Asia Conference in Canberra, RBA Assistant Governor Christopher Kent, “the boom had been generally advantageous in Australia.” We all know that mining boom helps the economy to rise. Mining also is one of so many resources that have been progress for so many years. WA has increase it’s immigration growth because of this resources. Many investors invested property because of mining boom.

http://www.perthnow.com.au/business/mining-boom-has-years-to-run-says-rba/story-fn7kjv7y-1226477175675


Tags: australia, Mining

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According to Michael Power, an Investee asset Management Strategist, “Australian property is overpriced-and possibly set to fall much further than they already have. “Prices could fall by as much as 15% in the next two years, he added. Residential Property prices in Australia have dropped these past months. Not passing interest rates in full with the big banks influence the housing price. In general, housing prices in Australia may decline and hit the bottom but I think here are state in WA leads the market. Perth is one of the states in which is improving because of the migrants and mining jobs.

http://www.propertyobserver.com.au/residential


Tags: house prices

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According to Angie Zigomanis, Senior Manager at BIs Shrapnel, “WA and Queensland are expected to see the biggest improvement as their economies post some of the strongest growth and also attract strong numbers of interstate migration.” We all know that WA and Queensland are more affordable capital city housing markets and tightening rental markets.  WA and Queensland are states in which supported by mining sectors. These states have many migrants because of the strong demand of mining jobs. They lead the housing market because of the stronger population growth that dwells residential building up. Based on the ABS figures, WA overseas arrivals increase with 20% and it shows population growth.

http://www.propertyobserver.com.au/trends


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According to St. George Bank Senior Economist Jo Hefferman, “While the outlook for the housing sector remained soft, it would be developments in China, Europe and the local unemployment figures that would be the key to any future rate cuts.” The housing sector weakens and the mining sector becomes slow, would it be the reason that RBA cut Interest rate? Interest rate was on hold these previous months maybe because the big four banks refused to pass official interest rate in full. Most of the states, home loans approvals decrease but WA is the only state to have a growth in approvals. Melbourne Cup Day on November will influence also in cutting Interest rate because lots of investor and migrants to witness the said event. There is still hope for all of us, that on or before November, there will be an Interest Rate Cut.

http://www.perthnow.com.au/realestate/news/interest-rate-cut-key-to-property-recovery/story-fncziqz3-1226471647703


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These past months, Australian Market soften because of unstable house prices and tightening in rental market. Despite of, Australian residential property coped up and consumer confidence slightly comes back on the market. House prices increased by 1.6% in all Australian’s state capital cities. Are mentioned-above considered as signs of having stable housing market?

According to Research Director at RP Data Tim Lawless, “One of the reasons why Australian Property has climbed in value is that it has become more affordable.” Many migrants in Australia and investors build houses or buildings so there will be an increase of supply and it put the house price become affordable. I think investors will never stop to invest and expand their investment in the market because they already seen that there is a big growth and development in Australian Market.

http://www.propertyshowrooms.com/australia/property/news/positive-signs-for-australian-housing-market_312355.html


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We all know that Perth Property market was soften and after the sluggish market, is this the time for the best spring in Perth? I think this is the time to move and invest.

According to Australia Property Monitors Senior Economist Andrew Wilson, “Perth property prices rose 1.7% in the first six months of this year and we’d expect that to continue and that sort of momentum to build on through the remaining of this year.” The property market is driven by the strong investor activity and makes the market more competitive.   People are focus on affordable home because cost of living really influences investors/buyers to invest properties. Because of the competition, house prices may increase and demand also influence housing price.

http://canberratimes.domain.com.au/real-estate-news/new-season-puts-a-spring-in-perths-property-market-despite-shortfall-20120904-25bk2.html


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Among all eight capital cities, Adelaide was the strongest capital during August. Sydney is the one of the most consistent performing capital this year. Are the eight capital cities sustained the value growth uphold? According to RP Data Research Director Tim Lawless, “On the other hand, we know that there is likely to be an increase in new supply over spring, which may introduce some headwinds for a recovering market.” I think that interest rate cuts really help in dwelling value growth because during June and July values recovered slightly. These previous months, the eight capital cities showed an improvement in capital growth and median price slightly increasing.

http://www.propertyobserver.com.au/residential/august-puts-a-stop-to-national-dwelling-value-growth-rp-data-rismark/2012090256365


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According to Real Estate Institute of WA Statistician Steward Derby, “There’s still some pressure in the rental market but the good thing is we’ve seen some steady increase in sales activity for 2012 so we’re heading back towards more of a normal market.” Perth is the only major Australia capital city set a record with 1.1% increase in house prices. Despite of the long price recession, Perth is back to normal market because of the rental demand. Rent houses and units went up as well as the house prices because of the strong demand and mining influenced on the said record.

http://www.watoday.com.au/wa-news/perth-leading-the-country-in-more-than-just-mining-20120801-23fbx.html


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