FIRST home buyers are being priced out of the market by interest rate rises and sky-rocketing utility prices. Finance approvals to first home buyers have fallen to sixyear lows and made up 15.5 per cent of the total loans market in August, according to Australian Bureau of Statistics data released yesterday. Comm Sec economist Savanth […]
FIRST home buyers are being priced out of the market by interest rate rises and skyrocketing utility prices. Finance approvals to first home buyers have fallen to six-year lows and made up 15.5 per cent of the total loans market in August, according to Australian Bureau of Statistics data released yesterday. CommSec economist Savanth Sebastian […]
IT seems young Melbourne home buyers can’t get enough of the clean lines and geometric shapes of Art Deco architecture. Real estate agents have reported a rush on anything displaying the movement’s distinctive hallmarks as the city’s collective appreciation for the style grows. The buildings are starting to be looked at with the sort of […]
FORGET apartment blocks — the age of the ‘‘vertical village’’ has arrived. And far from the skyhigh stacks of shoe-box dwellings that many associate with apartment living, the modern variant promises levels of comfort rarely experienced outside expensive hotels. From poker rooms and massage parlours — the classy kind — to dial-a-chef services and beauticians, […]
WHILE “stratospheric” property prices have been blamed for Victoria’s housing affordability crisis, an inability to save remains a major roadblock for many aspiring homeowners. With mortgage providers tightening their deposit requirements in the wake of the global credit crunch, property experts have warned generation Y to learn to save or forget home ownership. Catherine Cashmore, […]
The idea of spending half a million dollars on something you may not lay eyes on for two years would leave most people feeling a little uneasy. After All, you wouldn’t buy a wedding dress without trying it on for size. But as more and more Victorians embrace apartment living, a growing number are preparing […]
NEWS of a further quarter of astronomical property price growth will send shivers down the spine of anyone yet to set foot on the real estate ladder. The latest Real Estate Institute of Victoria report shows the cost of a middle-of the-road Melbourne house rose 8.5 per cent to $559,000 in the three months to […]
INVESTORS TAKE CENTRE STAGE YESTERDAY’S sunny morning weather left plenty of Melbourne vendors with that warm feeling that only a bonus hundred thousand dollars can bring. The auction clearance rate was still well down on the same time last year at 72 per cent, but had improved from 68 per cent last week. Agents reported […]
MELBOURNE’S median house price rose nearly $500 a day to hit a record high of $559,000 in the June quarter. The 8.5 per cent rise since the March quarter pushes the home ownership dream further out of reach of many young buyers, Real Institute of Victoria figures show. The new median is up from $515,000 […]
HOUSE hunters who spend months looking for the perfect home might end up missing out altogether. The median price of Melbourne houses has risen from $405,000 in the March quarter of last year to $559,000 today – that’s $2567 a week. The rate of the rise was even faster in the three months to June […]
