Commercial and residential property news
New research by the HIA shows housing affordability hasn’t improved in Sydney.
Below is a statement released by the group this week:
Housing affordability nose-dived at the end of 2009 due to a combination of higher house prices, increased interest rates, and the winding-down of the first home buyers’ boost according to the latest HIA-CBA First Home Buyer Affordability Report.
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DESPITE evidence government grants unnecessarily inflate up real estate values, the Victorian State Government is using them again, as a carrot leading to the November 13 election.
Below is a statement about the initiative, by the HIA, which includes exact values about the new grants available.
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HIA statement:
The Housing Industry Association is disappointed to see a new $95,000 per hectare tax on developments in Melbourne’s fringe, which will ultimately drive up the cost of housing.
Despite HIA, Australia’s largest building industry group, continually voicing its opposition to the proposed tax, and the Bill previously being defeated in the Parliament, the contentious Growth Areas Infrastructure Contribution (GAIC) is now set to go ahead.
Read moreThe number of new homes sold in Victoria for the month of October has bucked the national trend.
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Housing affordability nose-dived at the end of 2009 due to the fatal storm of higher house prices, increased interest rates, and the winding-down of the first home buyers’ boost according to the latest HIA-CBA First Home Buyer Affordability Report.
Melbourne’s housing affordability tanked in the December 2009 quarter dropping by 18.4 per cent, to be 23 per cent lower than a year ago.
Regional Victoria fared only slightly better, dropping 13.9 per cent over the quarter and 19.2 per cent over the year.
Read moreA small increase in Victorian building approvals for the month of December failed to halt the 15 per cent slide over the quarter.
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