Melbourne Property Market Update – December 5th, 2015

By Peter Sarmas on 5 Dec 2015
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Strong Sales Growth In Regional Victoria

Total sales in regional Victoria increased 15 per cent over the year to 23,200 transactions, up from just over 20,200 sales for the same period last year. Which shire recorded the strongest sales growth and what was the preferred method of marketing homes for sale? Find out in this report from REIV.

Rental Affordability Pushing More To Shared Accommodation

Rental affordability issues are turning an increasing number of people to share accommodation and the average room brings in over $10,000 per year.  Do you have a spare room in a sought after suburb? Read the report from Your Investment property.

Should Australia Embrace Tax Increment Financing?

As governments increasingly become strapped for cash, innovative funding mechanisms for urban renewal projects will become increasingly important. Based on current sentiments, it is likely that tax increment financing will be part of the mix. Find out more in the report from Sourceable Industry News.

Dwelling Approvals Remain At Near Record High Levels Thanks To High-Rise Approvals

The Australian Bureau of Statistics (ABS) released building approvals data for October 2015 last week. Cameron Kusher of Corelogic RP Data reports on the National house and unit data for capital cities.

Record Smashed In Big Finish To 2015

The record number of auctions on a single day has been smashed in a record finish to the 2015 auction year. REIV CEO Enzo Raimondo said that it has been a remarkable year for the state’s property sector, with more homes going to auction than ever before. Read the full report from REIV.

Banks Continue The Mortgage Lending Party In A Fog

Some banks have reclassified housing loans that originated as investment loans to owner-occupied based on a review of customers’ circumstances or as advised by customers. These reclassifications will affect growth rates for investment and owner-occupied housing loans for October 2015. Martin North of Digital Finance Analytics analyses the latest data from APRA on the banks (ADI’s) portfolios for October 2015.

Is Planning Failing The Housing Needs Of Seniors?

Our ageing society is going to put significant pressure on our ability to meet the demands of the senior cohort as the years roll on. Sadly, we seem ill-prepared despite the many reports and warnings about the wave of demand for different living needs that is as inevitable as night following day. Why aren’t more local governments or planning agencies recognising the importance of doing something now?

 

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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