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Homes Under 400K

Across the combined capital cities, 28% of homes sold over the 12 months to June 2014 were priced below $400,000.

In regional areas the figure was a much higher 63.9%. There has been a substantial reduction in housing under $400,000 over the past decade.

10 years ago, 69.3% of capital city home sales and 86.4% of regional home sales were below $400,000.

Described as “possibly the world’s smallest house”, this teeny London home is on the market for nearly $500,000.

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RBA have kept cash rates on hold again this month. No surprises there. We are still seeing fixed rates fall so it is a good time to review your existing loans.

According to preliminary figures from RP Data the weighted average clearance rate last week was 68.4 per cent just up slightly on last week.

RP Data housing market specialist said that since the start of the year there has been 42 per cent more homes sold under the hammer compared to this time last year. Keep Reading →

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RESIDENTIAL property prices are still increasing with values now hitting $5.2 trillion.

According to the latest figures from the Australian Bureau of Statistics property prices were up nationally in the June quarter across all capital cities by 1.8 per.

Sydney continued to push ahead with its values up by 3.1 per cent during the quarter.

Brisbane’s increase was exactly in line with the national average of 1.8 per cent while Melbourne was close behind with values up 1.3 per cent.

Queensland’s tourism hotspots experienced the largest growth in median price in the March quarter. Keep Reading →

Independent Senator for South Australia Nick Xenophon will introduce legislative changes in the spring session of parliament that would allow first home buyers to access their superannuation for a house deposit. Keep Reading →

The sale was completed without face-to-face contact, using emailed or posted documents, ABC News reports.

The original owner, who is based in South Africa, had been treating the house at Macgregor as an investment property and was renting it out.

They only discovered the fraud when they contacted the real estate agent to question why rent payments had stopped.

Now the original owner will have to challenge the new buyer in order to win back title ownership.

Depending on the outcome, either the owner or the buyer will have to pursue the money lost through the completed sale through legal channels overseas.

ACT police said it is investigating the case and all local real estate agents have been sent a checklist to follow when overseas owners ask via email for a property to be sold.

Real Estate Institute ACT chief executive Ron Bell said agents should be wary when business is done by written communication only.

“People should verify signatures and verify the material that has been given to them and they can do that through any [Australian] Embassy that is overseas,” he was quoted as saying.

Top 10 most expensive rental suburbs across Australia for houses. Keep Reading →