The once-booming real estate market in Port Hedland has collapsed in the past year, with more than 400 homes available to rent – unheard of at the height of the mining golden years.
Australia’s hot real estate investment trust sector
The investment house LaSalle Investment Management, which is a unit of global real estate services firm JLL, has been tipped as a bidder for the $9 billion Investa Property Group platform, potentially with the support of the Abu Dhabi Investment Authority.
Mortgage lending to UK investors purchasing rental properties soared in the last quarter of 2014, far outstripping the growth in lending to first-time buyers, according to figures from the Council of Mortgage Lenders.
Forgotten Sydney suburbs create property millionaires
Rising house prices and roving developers on the hunt for a bargain are making millionaires in a new swag of Sydney suburbs offering affordably priced development opportunities.
The Commonwealth Bank of Australia plans to harness the power of digital to improve mortgage origination. “There are multiple obstacles in Australia to reaching this goal, but that doesn’t mean it’s unachievable,” said CBA general manager of group lending services Dan O’Neill.
Figures from the National Centre for Vocational Education Research show that trainee commencements increased by 5,300 to 31,700 in the fourth quarter of 2014. Commencements in carpentry, plumbing and other traditional trades rose by 1,600 to 21,500.
The size and significance of the Western Australian residential property market has been highlighted by new ABS figures - so investors would be wise to take another look at Perth.
Foreigners will be banned from owning land in South Africa under new proposals outlined by President Jacob Zuma. Locals will have limits set on the size of their farms under the proposals.
