Oceania Real Estate News

  COMMERCIAL property rents will double and residential property prices will rise by up to 40 per cent during the next four to five years, a respected economist said yesterday in a bullish forecast for the Australian economy. BIS Shrapnel's chief economist, Dr Frank Gelber, who was speaking in Melbourne at a Real Estate Institute of Victoria lunch, said the global financial crisis ha [ ... ]

 Â MELBOURNE'S real estate market could be facing its own wintry chill, if clearance rates continue to cool and prices increasingly fall within range.It is still too early to tell but if the trends continue, the property market could return to more stable conditions - a climate buyers will certainly warm to.Out of 701 reported auctions last week, the clearance rate was 75 per cent, just below [ ... ]

 THE Property Council of Australia has described the government's response to the Henry review as positive for the real estate sector. PCA chief executive Peter Verwer said yesterday that the Henry report indicated Treasury understood the key issues."The government's response, on balance, has been very positive," he said.

 
 March 8 (Bloomberg) -- New Zealand house prices climbed for a fifth month in February, fueled by increased demand for property in the nation’s largest cities as the economy emerges from a recession.

 
 MELBOURNE'S property market has smashed through the $1 billion mark for the first time.  The barrier was broken during a record weekend for auction prices combined with soaring prices achieved for private sales during the week.

  By Tracy Withers Jan. 18 (Bloomberg) -- New Zealand house prices fell for the first time in six months in December as the number of properties sold declined for a third month. Prices fell 0.9 percent from November, the Auckland-based Real Estate Institute of New Zealand Inc. said today in an e- mailed statement, citing an index. The number of properties sold dropped to 4,957 from 6,056 [ ... ]

  AUSTRALIANS have the world's largest houses, beating traditional champion the United States, however the cost of renting is similarly expanding.

A TYPICAL Sydney house now costs well in excess of $600,000 after surging at the rate of $5000 to $6000 a month all year. The latest RP Data-Rismark property index shows prices in Sydney, Melbourne and Canberra continuing to climb apparently unaffected by a slowdown hitting other state capitals. Sydney house prices are the most expensive but Melbourne's are climbing the fastest, gaining 12.6 p [ ... ]

 
CANBERRA, Oct. 1 (Xinhua) -- An Australian economist expects first home buyer grant cuts and a projected interest rate rise will cause a downturn in Australia's housing market, Australian Associated Press (AAP) reported on Thursday. 

THE global financial crisis has cut deep into Sydney's top end housing market through a 45 per cent reduction in gross sales values. Prestige home on Miller Street, Cammeray (Sydney)