New home approvals in Australia fell to a five year low towards the end of last year with property experts blaming tightened lending from banks.
Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening.
Property prices in Australia fell by 4.8% nationally in 2018 to a median value of $532,327, while the rate of decline worsened consistently over the year, the latest real estate index shows.
New homes sales increased in Australia in November, up by 3.6%, but are still some 12.2% below last year, the latest research shows.
As property prices and sales continue to fall in Australia, the number of homes for sale is rising and properties are taking longer to sell across most regions of the country, new research has found.
Prices for prime waterfront properties around the world are on average 40% higher than comparable properties inland, new research has found.
The credit squeeze in Australia is continuing to slow new home building and sales have fallen steadily throughout 2018, according to a new analysis.
Property prices in regional Australia, outside of the state capitals, have increased the most in the Geelong region but sales are slower, according to the latest analysis report.
Property consultant CoreLogic said on Thursday its index of home prices nationally sank for a 13th straight month in October, leading to an annual fall of 3.5 percent, the weakest since February 2012.
Two decades ago, Australian property developer Bill Gertos found a house sitting empty in Sydney. So he changed the locks, repaired the property - and began leasing it to tenants.
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