The value of reverse mortgages in Australia has grown to $3.7 billion according to a new Deloitte report, with an increasing number of retirees using them to supplement their superannuation retirement income.
Punters will always pay a lot for hip, cool and funky inner-city dwellings and apartments despite the release of more land and the building of new houses.
The number of off-the-plan apartments advertised for sale has jumped by 154 per cent in Australia in the last three years.
Commercial property sales are running hot so far in 2015, with auctions for investments recording a clearance rate over 90 per cent for the first half of the year.
Tax reform will be firmly on the new Turnbull Government’s agenda to grow the economy, and Shelter WA will be lobbying for changes to negative gearing.
The housing cycle in Australia has peaked, according to Morgan Stanley analysts.
Stricter regulations on lending, slowing immigration and inflated property prices are set to take their toll on the property sector say the wealth management company.
ANZ economists say they expect interest rates to be cut another further 50 basis points next year to a new record low of 1.5 per cent.
The Reserve Bank has left interest rates on hold for the month at 2 per cent, but experts say people shouldn’t expect supercharged house price growth if they are cut again this year.
While investment in the Melbourne and Sydney property markets cools, economic advisers have started looking out west to Perth as one of the country’s best buyer markets.
Economists have slammed recent claims there could be a drop of up to 7.5 per cent in house prices next year.
Earlier this week Macquarie predicted a drop in house prices of 7.5 per cent across the country in 2016.
