Property consultant CoreLogic said on Thursday its index of home prices for the combined capital cities slipped 0.3% in February after it fell 0.5% in January
Property consultant CoreLogic said its index of home prices for the combined capital cities dipped 0.4 % in December from November
The Reserve Bank of Australia's (RBA) head of financial stability, Jonathan Kearns, said foreign buyers accounted for around 10 to 15 % of new construction
Sydney has joined Perth and Darwin as the only capital cities to experience a drop in housing prices in the past three months, a national house price report has found.
Property consultant CoreLogic said its index of home prices for the combined capital cities was unchanged in October, from September when it edged up 0.3 %
Greater Melbourne, which has about 4.49 million residents, has seen a surge in home prices over the past few years, largely due to rapid population growth, Mr. Armstrong said. While apartments are plentiful, houses are in high demand.
“We have a noticeable undersupply of good, quality housing,” he said. “Anything with any quality to it sees a lot of competition, particularly in the inner eastern suburbs.”
After Toronto, Stockholm, Munich, Vancouver, Sydney, London and Hong Kong round out the top six, according to the banking giant's latest Global Real Estate Bubble Index
Chinese nationals are expected to buy over $104bn in global real estate this year, according to a new report from Juwai.com. Although Juwai's Chinese Global Property Investment Report has found that last year's figures were higher, over $133bn, and that Australia actually received the second largest share of this outpouring capital.
Australian banks offer generous inducements to brokers to sign up new borrowers and negotiate larger loans, a system dismantled in the United Kingdom following the global financial crisis
The U.S. group put its Australian portfolio of 10 shopping centres, mostly in Sydney and Melbourne, on the market in April.
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