International Property Investment » first home buyers

First Time Home Buyers in Australia Getting in Over Their Heads

Elisabeth Sowerbutts — Fri, 20 Mar 2009 17:00:11 +0000

Well you read it here first. Last week I posted that I was concerned that Australian first home buyers were getting in too deep. Now there are news reports are that Commonwealth Bank’s CEO, Ralph Norris, believes that the generous government grants could lead to a residential property bubble if its extended past the 30 June deadline.

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Property Investment To Save the Australian Economy?

Elisabeth Sowerbutts — Mon, 16 Mar 2009 23:54:14 +0000

Sigh – sometimes I feel sooo old! Like I can remember the last time it was hard to get a job especially if you were young with no qualifications and experience. That time has come again, even in Australia, and the newspapers are going flat out to explain to the under-25’s what to do with this strange concept that the world doesn’t owe them a living of at least $70k straight out of school!

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New Zealand Property Investment – Is the Market Looking Up?

Elisabeth Sowerbutts — Fri, 13 Mar 2009 17:00:56 +0000

Conflicting reports this week on New Zealand’s property market. From the Australian:

A total of 5228 homes were sold last month, the most since February last year, according to a report from the Auckland-based Real Estate Institute of New Zealand. Sales rose from a record low 3706 in January.

Sounds quite an impressive rebound right? Interest rates are at an all-time low, might be the time to jump into property investment in New Zealand? Don’t get too excited, as with any report from the Real Estate Institute of New Zealand (the Real Estate Agent’s professional body) read between the lines and take a whole large heaped tablespoon of salt!

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Buy Property For Under $500,000 in Western Australia

Elisabeth Sowerbutts — Fri, 27 Feb 2009 17:00:46 +0000

Western Australia’s first home buyers now get the best deal on stamp duty compared to the rest of Australia.

Western Australians first home buyers don’t pay any sales tax on properties valued up to $500,000. Based on an average sale price first home buyers are eligible for grants of a net total $15,740 or 5.4% of the average house price in the state.

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Outlook for Property in Australia 2009

Elisabeth Sowerbutts — Thu, 26 Feb 2009 00:09:50 +0000

Well first the good news – the generous grants to first-home buyers seem to have worked. Some 30,000 people have applied for the up to $21,000 grant between mid-October and end January 2009. Figures for grants approved have ramped up to nearly 13,000 in January. The scheme is currently due to run until 30 June.

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NZ Interest Rates Hit Historic Low, Dollar Follows

Elisabeth Sowerbutts — Fri, 30 Jan 2009 17:00:20 +0000

The NZ Reserve Bank has knocked 1.5% off the base rate to give New Zealand an official cash rate of 3.5% – the lowest rate for the country ever. Its a dramatic decline from the 8.25% the cash rate stood at in the middle of 2008

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First home owner’s grant is Propping up Australia’s Housing Market

Elisabeth Sowerbutts — Fri, 16 Jan 2009 17:00:45 +0000

Only just though. The predictable calls are now to extend the higher rate of the first home owner’s grant past its June 30 cutoff date. After years of a housing market supported by negative gearing by investors now, suddenly, debt is out of fashion and grants are back in favour.

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Auction Clearance Rates: Going, Going, Down

Elisabeth Sowerbutts — Mon, 10 Nov 2008 17:00:28 +0000

Auction clearance rates are still well-down despite a glimmer of hope in some of the east coast cities. Clearance rates in Melbourne and Sydney improved over the weekend with Sydney reporting a clearance rate of 44.7%, up from the previous weekend’s 41.7%. Melbourne’s figures were 48.1% compared to 41.7% the previous week.

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Can’t Afford Your First Home? Try this Strategy!

Elisabeth Sowerbutts — Wed, 27 Aug 2008 13:56:39 +0000

The headline caught my eye:

“Built for Two – from first-home buyers to empty-nesters, our small lot special has options for everyone.

This from the local paper’s weekly New Homes guide which tends to focus on the 4 bedroom, 2-bathroom plus pool MacMansion segment of the market.

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First Home Buyers Return to Perth’s Market

Elisabeth Sowerbutts — Mon, 11 Aug 2008 14:28:50 +0000

First home buyers are returning to the Perth market: which is good for everyone including investors.

On the back of reported property price drops in Perth it looks like first home buyers are starting to look again. Loans to first home buyers are now around 30% of all new loans approved according to REIWA.

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