Looking at the overview of Australia current property market, one can relate it to a suspended animation. The lower interest rates have not made much of a difference to housing affordability and we see the first home buyers even less interested. The community is experiencing record-low interest rates and the renters too are not getting encouraged to buy. It seems there is a campaign of Dont Buy Now sweeping the nation and thus demotivating the renters to get into record mortgage debt for life time. Perhaps no other generation has been seen spending 40% of their income on a place to live.
Recent times have seen a decrease in the number of residential building getting approval, according to the Australia current property market. The latest figures have been quite disappointing. However, the picture appears to be more promising in the near future and in the first quarter of 2013, the total number of approvals were up by 8.8%, compared to the same time period last year. The sharper decreases in the approvals reflects the delicate state of Australias housing market. The tentative recovery has surely revived some hopes but the situations is still delicate.
When we study the Australia current property market in the past few months, we always find a negative data following a positive indicator. The government has to keep in mind when introducing policy measures. The housing industry seems to be passing through a very sensitive state and needs a strong support system from the government. There is a dire need for a policy intervention to boost the housing market. The government should not to ignore the inefficient taxes on housing and take these into considerations in the forthcoming Budget.
Housing is very important in our lives and it is not only a secure place to live but a key asset too for most. The housing is also a source of employment for many as they are involved in building and developing the dwellings. They look after the insurance, legalities and including for those in the real estate business. It is no surprise to see Australia current property market a hot topic among the economists and the central bankers certainly pay close attention to it. The housing after all, plays a very important role in the transmission of monetary policies and business cycle. The past data and surveys show that housing market in Australia is strengthening but gradually. I hope this will help you in your decision when you want to buy a new house.
Recent times have seen a decrease in the number of residential building getting approval, according to the Australia current property market. The latest figures have been quite disappointing. However, the picture appears to be more promising in the near future and in the first quarter of 2013, the total number of approvals were up by 8.8%, compared to the same time period last year. The sharper decreases in the approvals reflects the delicate state of Australias housing market. The tentative recovery has surely revived some hopes but the situations is still delicate.
When we study the Australia current property market in the past few months, we always find a negative data following a positive indicator. The government has to keep in mind when introducing policy measures. The housing industry seems to be passing through a very sensitive state and needs a strong support system from the government. There is a dire need for a policy intervention to boost the housing market. The government should not to ignore the inefficient taxes on housing and take these into considerations in the forthcoming Budget.
Housing is very important in our lives and it is not only a secure place to live but a key asset too for most. The housing is also a source of employment for many as they are involved in building and developing the dwellings. They look after the insurance, legalities and including for those in the real estate business. It is no surprise to see Australia current property market a hot topic among the economists and the central bankers certainly pay close attention to it. The housing after all, plays a very important role in the transmission of monetary policies and business cycle. The past data and surveys show that housing market in Australia is strengthening but gradually. I hope this will help you in your decision when you want to buy a new house.
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