Prime Minister Julia Gillard and her partner Tim Mathieson need to find an alternative to the Lodge. PM wants a rental property while the Lodge is being renovated Security demands making the choice more difficult One in ten Aussies in housing stress PRIME Minister Julia Gillard is experiencing Australia’s housing crisis first hand in her […]
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Housing sector ‘making a comeback’ – AAP 02 Nov 11
THE housing sector is set to make a comeback, getting a further boost from yesterday’s interest rate cut, economists say. Australian residential building approvals fell 13.6 per cent to in September, seasonally adjusted, the Australian Bureau of Statistics (ABS) said on Wednesday. Economists’ forecasts had centred on a five per cent fall in approvals in […]
Building approvals fall 13.6 per cent – News.com.au, 02 Nov 11
AUSTRALIAN residential building approvals fell 13.6 per cent to 11,889 units in September, seasonally adjusted. This compares to a downwardly revised 13,758 units in August. In the year to September, building approvals were down 12 per cent, the Australian Bureau of Statistics (ABS) said on Wednesday. Economists’ forecasts had centred on a five per cent […]
The Importance of Tax Agent and Property Manager when investing in Australian properties from abroad
Here I go again, I thought wryly. Who is the idiot who invented giving things for free when there is an unseen cost to it? I was meeting a client, explaining to him about property investing in Melbourne. There are certainly many differences between investing a property in Melbourne and Singapore. But one question that […]
Summary of URA’s New Regulations on Singapore Property Market
The recent measures on 14 Jan 2011 imposed by the Singapore government had taken to ensure that the property market is sustainable has been pretty drastic. Check out the new regulations here. A Summary of URA’s regulations: 1. Holding Period for Seller’s Stamp Duties from 3 years to 4 years 2. Seller’s Stamp Duties imposed […]
Australia’s home loan approvals rise in December
Increased lending shows economy is weathering higher interest rates (SYDNEY) Australia’s home loan approvals unexpectedly rose in December to a six-month high as jobs growth and wage gains underpinned demand for property. The number of loans granted to people to build or buy houses or apartments climbed 0.1 per cent to 65,645 from November, the […]
Aussie property still looking up?
THE US sub-prime mortgage problem may have put a dampener on property stocks worldwide, including Singapore. But there appears to be at least one bright spot on the planet, if ANZ Bank is to be believed. Said the bank in a recent report on its outlook for the Australian property market: ‘Property returns have accelerated, […]
ART buying another property in Australia
ASCOTT Residence Trust (ART) is acquiring an 84-unit serviced residence in Australia for a total purchase price of A$28.5 million (S$35.6 million). In a statement released yesterday, ART said the acquisition is yield-accretive at an estimated annualised property yield of 6.1 per cent in the forecast year 2008. The freehold property, currently known as Chifley […]
Surprise 0.7% fall in Aussie home loans
11-year-high interest rates hit borrowing for second straight month in Oct (SYDNEY) Australia’s home loan approvals unexpectedly fell for a second month in October as interest rates at an 11-year high discouraged borrowing. The number of loans granted to build or buy houses and apartments fell 0.7 per cent to 62,509 from September, when they […]
Stamford Land in A$220m Sydney project
Site in The Rocks will have apartment tower, terrace homes, retail units SINGAPORE-LISTED Stamford Land, the hotel and property arm of shipping tycoon Ow Chio Kiat, is planning to build some of Australia’s most expensive homes on the site of two old demolished warehouses and a heritage building. Mr Ow bought the 99-year leasehold site […]
Australian building approvals rise in Sept
The number of approvals gained 6.8% to 13,710 from August (SINGAPORE) Australia’s home-building approvals rose almost seven times as much as forecast in September as a housing shortage and rising rents encouraged investors to buy property. The number of approvals to build or renovate houses and apartments gained 6.8 per cent from August to 13,710, […]
Global property investment expected to fall
Mortgage defaults in US may prompt lenders to tighten credit, says JLL (TOKYO) Global direct real estate investment may fall this year as concerns about defaults on US mortgages prompted lenders to tighten credit, said Jones Lang LaSalle Inc, the world’s second-largest commercial real estate broker. Asia may be the only market to experience an […]
World’s wealthy still eyeing property
They are undeterred by the market turmoil triggered by the US sub-prime crisis (GENEVA) The wealthy have lost none of their appetite for property despite the market turmoil triggered by the sale of risky sub-prime mortgages in the US, according to some of the world’s top private bankers. Clients of wealth managers are, however, on […]
Office sector booms Down Under
Regional centres like Canberra, Hobart, Perth and Brisbane have taken off WHAT do the office markets of Perth, Brisbane, Canberra and Hobart have in common with Moscow, Warsaw, Barcelona, Tokyo and Singapore? They are all experiencing acute low office vacancy rates not seen since the beginning of the century and the momentum built up over […]
WORLD HOUSING MARKETS – Bubble trouble
By Robert J. Shiller THE future of the housing boom, together with the possible financial repercussions of a substantial price decline in the coming years, is a matter of mounting concern among governments around the world. I learnt this first-hand while attending this year’s Jackson Hole Symposium in the remote wilderness of Wyoming where, ironically, […]
Aussie prime mortgage arrears decline on jobs
Higher interest rates are likely to affect arrears in third quarter, says Fitch (HONG KONG) Delinquencies on Australian prime mortgages fell in the second quarter as unemployment declined to a 33-year low, according to Fitch Ratings. Non-conforming home loans that were at least 30 days in arrears declined to 1.48 per cent of mortgages used […]
Aussie home-building approvals rise sharply
Unexpected increase attributed to rising employment, wages and immigration (SYDNEY) Australia’s home-building approvals unexpectedly increased to a five-month high in July as rising employment, wages and immigration encouraged investment in property. The number of approvals to build or renovate houses and apartments advanced 0.4 per cent from June to 12,980 the Bureau of Statistics said […]
Aussie home loan group fails to refinance $8.2b debt
MELBOURNE – THE deepening crisis in credit markets threatens to ensnare more mortgage lenders. Australian home loan group Rams said yesterday that it had failed to refinance A$6.17 billion (S$8.2 billion) in debt as fallout from a mortgage credit crunch in the United States starved the market of liquidity. Shares of Rams, which now has […]
Lend Lease posts 59% gain in H2 profit
(SYDNEY) Lend Lease Corp, Australia’s biggest property developer, chalked up a 59 per cent increase in second-half profit as Asian and US building contracts bolstered revenue amid declining housing demand in the company’s home market. Net operating income jumped to A$282.9 million (S$356.9 million) in the six months ended June 30, from A$177.6 million a […]
Sales of new Aussie homes up in April
Increase of 7.1% another sign of rebound in property market (CANBERRA) Australian sales of newly built homes climbed to a one-year high in April, adding to signs of a rebound in the property market. Sales of new homes advanced 7.1 per cent from the previous month to 8,776, the Housing Industry Association said in an […]
