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 Buying up Canberra’s suburbs Canberra Times, April 22, 2012, Michael Inman FOREIGN investors are pouring billions into residential and commercial buildings in Australia, with $1.28 billion of properties snapped up in the ACT alone last financial year, according to the Foreign Investment Review Board. While heated public debate has raged about foreign investors buying Australian farms and agricultural assets, the latest annual report shows foreigners are much more likely to be buying up homes, units and offices, having spent 30 times as much on real estate compared to agricultural investments ... Melbourne weakening while Sydney steadies, and post-auction negotiations need to be cool-headed Property Observer, Monday, 16 April 2012. Jonathan Chancellor Estate agents suggest the weekend auction result provided a clear indication that further interest rate increases by the banks are negatively impacting on demand and confidence in the residential property market. The ANZ Bank decision on Friday to raise interest rates again dampened the mood at some capital city weekend auctions, with participants understandably increasingly confused about market conditions and direction ... Sydney Morning Herald, Domain, April 14, 2012. Susan Wellings Love at first sight ... or the first inklings of an affair beset with fear and loathing? The lobbies of new developments can thrill and inspire potential buyers, visitors and prospective tenants - or leave them cold with the dread of what may lie ahead when they open the actual apartments' front doors. With data showing the number of auction listings has increased significantly in recent peak periods, one expert is warning buyers to keep a cool head. Real Estate Buyers’ Agents Association of Australia (REBAA) president Warwick Brookes said buyers who were the highest bidders for a property passed in at auction should know how to “play the game”. “Just because a property has been passed in does not mean that this is market price – it’s simply a price point for further negotiation,” Brookes said. A bite of the big apple A TOUCH of New York styling is coming to Melbourne with the development of two buildings in the legal precinct into a hotel-style apartment. The William is two buildings connected by walkways at 199 William St and 518 Little Bourke St and will comprise 23 levels of one, two and three-bedroom apartments. It will also have 24-hour concierge service, residents’ library, rooftop garden with gas-heated swimming pool, gym and entertaining facilities.
The Sydney Morning Herald, Domain. Susan Wellings. February 18, 2012 Space mission ... Dean Taylor and wife Gina, with children (from left) Bronte, 18 months, Sienna, 6, and Sabine, 10, are looking to upgrade, with their Lilyfield cottage set to go under the hammer. Listings are up and buyers are circling despite the banks raising interest rates. Hoping to sell your house before Easter by attracting a parade of would-be buyers in the seven weeks that are left? The big four raising their interest rates after the Reserve Bank’s decision not to cut its own may prove a bit of a dampener on the traditional frenzy to buy in what’s traditionally the peak of the autumn selling season but those in the market say there’s still plenty of room for optimism ... Your Money (www.yourmoneymag.com.au), January 2012 Houses in Australia’s major cities are now some of the most expensive in the world and real estate agents’ tactics are regularly inflating prices so if you’re trying to buy a new home right now use these seven steps to avoid over-paying. Houses in all of Australia’s major cities (along with Hong Kong and New Zealand) are “severely unaffordable” according to the 8th annual Demographia International Housing Affordability Survey.
News.com.au, January 2012 Capitalise on the slower few weeks, when many vendors, buyers and even agents are on holidays and consider buying or getting your house ready to put on the market. Property Observer, Monday 9 January 2012 Prime holiday times like January can present opportunities for those looking to buy a house, which can translate to lower prices and more flexible conditions for a better buy. Holiday periods are definitely slower times in the market cycle, when many people are tied up with vacations and families. Fewer buyers mean less competition and the added benefit for buyers to shop around for what suits them best. |
