Data from the Australian Bureau of Statistics and the Real Estate Institute of Australia shows that uneven performances across the country are slowing the overall pace of property price growth.
Affordability worsens as bigger mortgages erode benefits of lower rates
The proportion of family income required to meet average monthly loan repayments was 29.5% during the September quarter, up modestly from 29.4% the previous quarter, according to The Adelaide Bank/REIA Housing Affordability Report.
Real Estate Institutes support easing for foreign buyers
The federal government has announced it will allow foreign buyers to purchase an off-the plan dwelling when another foreign buyer has not been able to settle on it, thereby removing a significant risk to the industry.
Housing finance data confirms fewer first-home buyers
ABS housing finance data shows that lending to owner occupiers has fallen for two consecutive months, while lending to investors has risen for four months in a row.
Local council planning delays add to the cost of a new home through additional land tax, council rates, holding costs and interest on loans accrued during the period.
