Apartment for sale & rent in Sydney Australia

Apartment for sale & rent in Sydney Australia
Apartment for sale & rent in Sydney

Wednesday, June 29, 2011

House for Sale in Victoria Melbourne , Australia House for Sale happy-home-group.com

House for Sale in Victoria Melbourne , Australia House for Sale happy-home-group.com

AVAILABLE: NOW. This property is a modern brand new single level four bedroom house with larger than average bedrooms. Comprising of a spacious open plan tiled living / dining area with an additional \'child retreat\' living area, the house includes built in robes in all the bedrooms, main with en-suite and massive walk in robe, a large modern kitchen, oven and range hood, modern central bathroom, separate toilet, laundry room, with ducted heating and cooling. There is a large outdoor alfresco area and a double garage as well. In addition to that there is professional landscaping to the front and rear for a low maintenance garden. Located in a fantastic, exclusive and new area of Sanctuary Lakes with a view of the Melbourne city.

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New South Wales - Sydney , Northern Territory - Darwin , Queensland - Brisbane , South Australia - Adelaide , Tasmania - Hobart , Victoria - Melbourne , Western Australia - Perth , property listing by owner & real estate agents

Sunday, June 19, 2011

Trouble looms on home front

Interest rates and unemployment hold the key to the immediate future of Australian home prices.
IT STARTED about six months ago, in the weeks after November's shock interest rate rise - a sudden rise in financially stressed Australians fighting with their banks over loan repayments.
More Australians falling behind in their payments were pleading for leniency from their lenders on the grounds of financial difficulty - then winding up at the Financial Ombudsman Service, which handles disputes between banks and their customers.
Some had been hit by the floods in Queensland or Victoria and were left paying mortgages on homes they could not live in. But, says chief ombudsman Colin Neave, many were pushed to the brink by more mundane pressures like higher interest rates.


And it hasn't eased off. While no firm figures are yet available, the agency is handling hundreds of financial difficulty disputes a month - a ''consistent increase'' on six months ago, Neave says. In fact, the service has become so overrun that it is pushing Australia's lenders to better handle such ''traumatic'' situations.
''People are encountering difficulty at the moment,'' Neave says. ''The feeling we have is this is a trend which will continue for a while yet.''
It is just one more sign that, barely six months after the last interest rate rise, with unemployment at 4.9 per cent and a resurgent mining boom, more Australians are struggling to find next month's mortgage payment.
This week, a report by rating agency Fitch found that 1.23 per cent of mortgage holders - or one in 400 - had missed one or more mortgage payments to the end of March, compared with 1 per cent at the end of last September.
In Queensland, the rate was 2 per cent. In the Sunshine State's Logan City, the worst area affected, one in 48 mortgage holders were more than 30 days behind on payments - other hot spots included south-western Sydney, the central coast and Western Australia's south-west.
But it was not the floods that had hit Queensland's mortgage holders so hard, Fitch found; it was the rising cost of living and the November rate rise.
In May, Commonwealth Bank disclosed an 11 per cent jump in 90-day mortgage arrears over the March quarter; ANZ and Westpac recorded rises of 15 per cent and 13 per cent on their books, according to JPMorgan research.
For the big four banks, the proportion of mortgages in 90-day arrears remains at well under 1 per cent, and Fitch's figure of 1.23 per cent for 30-day arrears is small by global standards.
But overall, mortgage arrears now stand at levels not seen in 15 years.
''One or 2 per cent is not a problem,'' says Shane Oliver, chief economist at AMP Capital Investors. ''But the likelihood is that arrears will rise, which could become a problem.''
As it weighs the case for a rate rise later this year, the Reserve Bank is again confronted with the problems of the two-speed economy - how to control inflation and growth in the boom-fuelled west, without smothering what economic pep remains in the east.
But if the economy is running at two speeds, the housing market appears to be running at six. According to some measures, prices for established homes in Perth and Brisbane have fallen by roughly 7 per cent in 12 months, while Bureau of Statistics figures published in May show that Melbourne house prices - despite suffering a 2.5 per cent decline in the March quarter - are still up 1.1 per cent for the year.
Across the eight capitals, established house prices declined 1.7 per cent in the March quarter, the Bureau of Statistics says. These figures were kinder than those published by the Real Estate Institute of Australia this week - it found a 2.5 per cent drop in median house prices over the March quarter, with Melbourne falling 6 per cent.
This may be just the beginning. Last week, analysts at broker Merrill Lynch tipped a drop in house prices of 10 per cent from the June 2010 peak; Oliver also expects falls of between 5 and 10 per cent. ''We are very vulnerable,'' he says.
In March, British-based business publication The Economist declared Australian house prices the most inflated in the world, and overvalued by 56 per cent. The International Monetary Fund also believes Australian homes are up to 10 per cent overpriced; locally, Morgan Stanley analyst Gerard Minack says prices are inflated by 40 per cent - but he says only a sudden unemployment increase would spark such a drop.
But despite the likelihood of an interest rate rise this year, and continuing job losses in the retail sector, the property industry - and several economists - maintains that Australia is not on the brink of a big fall in house prices. The continuing scarcity of rental properties, the undersupply of housing and the second coming of the mining boom are all cited as reasons.
''We are seeing a softening of the housing market explained by economic factors,'' said Real Estate Institute president David Airey this week. ''Not a bubble starting to burst.''
Saul Eslake, an economist at the Grattan Institute, expects house prices nationally to fall only ''moderately'' - ''by which I mean single digits over the next few years, possibly for the duration of the mining boom'', he says.
And some, such as ANZ's head of property research, Paul Braddick, believe the current ''weakness'' won't last much beyond this year - with the caveat that a rapid rise in interest rates or unemployment could quickly worsen the situation.
Even Merrill Lynch boss Craig Drummond is more upbeat than his own analysts. ''There is still an undersupply of property in the major markets,'' he says. ''I had a look at some of the data for the Sydney property market this week, and the vacancy rate for rental property for inner Sydney was just 0.9 per cent.
''So I think, in a macro sense, the fundamentals aren't pointing to a housing crisis.
''That said, there are still some problems at the margins.''
In recent months, the Reserve Bank has acknowledged some households are struggling with their mortgage repayments. But it insists the pain is not widespread, saying most households have proven ''resilient'' to higher loan repayments.
Last month, deputy governor Ric Battellino admitted that ''pockets'' of Australia were enduring housing stress'', a situation he blamed, in part, on the property speculation boom and the lowering of credit standards between 2006 and 2008. Indeed, mortgages taken out in 2008 are believed to account for most of those now in arrears.
Battellino also raised concerns for the tens of thousands of first home buyers enticed into the property market in late 2008 and 2009 by the federal government's boosted first home owner grant - an emergency measure designed to prevent a fear-driven crash in house prices in the wake of the global financial crisis.
''The concern is that some of these may have overcommitted themselves financially in order to enter the market and are now vulnerable to rising interest rates,'' Battellino said, while adding that first home buyers were not, so far, over-represented in loan arrears.
More than 78,000 home buyers took up the boosted grant in its first six months - a great success, Labor argued at the time. But back then, interest rates were as low as 3 per cent. One more standard rise would take the cash rate target to 5 per cent - in turn pushing up the rates levied by the banks - at a time when the cost of petrol, food, insurance and utilities are all rising.
''People who have had a mortgage for a while are trying to pay down their debt,'' Oliver says. ''The group who bought in two to three years ago are now the group seeing increasing difficulties, and they are probably behind the pick-up in arrears.''
Based on data released by the Rudd government in 2009, the two states now most stricken with mortgage arrears - Queensland and New South Wales - were also the two states in which the boost was most popular in the six months after the financial crisis.
Victoria, which currently has the lowest proportion of mortgages in arrears, also had the fewest number of first home buyers per capita in the six months after the global financial crisis.
Expectations remain strong that, despite the rising cost of living, a slowing east-coast labour market and the cooling housing market, the Reserve Bank will raise interest rates this year - a move expected to push arrears higher.
More people struggling with their mortgages means less money spent in the struggling retail and tourism sectors, and - potentiality - more houses for sale in a slowing market.
In April, Merrill Lynch called on the banks to tighten their lending standards, warning that the strain on household budgets was ''too big to ignore'' and arguing that banks were lending ''too aggressively'' against living standards. Tighter lending practices would mean fewer and smaller loans - giving fewer home buyers less money to spend.
And there are signs that more forced sales are on the way. After tracking lower than 2009-10 for much of the financial year, applications for home or land repossessions lodged with the Victorian Supreme Court started increasing in February. They spiked last month - 221 were received in May, up from 143 in April and 189 in May last year. At 55 a week, it was the busiest month for repossessions since July 2009.
The big question is whether the still small numbers of struggling mortgage holders pose a wider threat to the housing market and the economy. Opinion is divided. ''Are there enough of them, across the country, to impact house prices in general? I suspect the answer is no,'' Eslake says.
''I think the risks are all on the downside,'' AMP's Shane Oliver says. Although not expecting a US-style property crash, he is tipping a drop of between 5 per cent and 10 per cent in house prices. Not from last year's peak, but from where we are now.
''The Reserve is saying that, given the strength of the mining sector, it's likely that at some point interest rates will have to rise again to ensure inflation stays within the target,'' Oliver says. ''Others, including myself, worry they could go too far, and might push the rest of the economy over the edge.''

Source : http://www.smh.com.au/business/trouble-looms-on-home-front-20110617-1g7z6.html


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Global property markets teeter to recovery | Reuters

Global property markets teeter to recovery | Reuters

Global property markets teeter to recovery


(Reuters) - Commercial property is in the midst of a multi-speed global rebound in 2011, as the sector emerges from the shadow of recession and is buffeted by a range of economic, refinancing and demand pressures across markets.

Global property investors have piled back into the sector in 2011, plunging cash into the emerging markets of Asia, stoking worries of overheating, and have chased core assets in key U.S. and European cities, causing demand to outstrip supply.

Either side of the Atlantic, uncertainty over capital adequacy-minded banks' plans to sell troubled property assets -- such as RBS' (RBS.L) 1.6 billion pounds ($2.6 billion) project Isobel -- continue to cast a pall over recovery prospects.

At the Thomson Reuters Global Real Estate and Infrastructure Summit industry leaders will discuss the chief stumbling blocks facing the commercial property sectors of Europe, United States and Asia, and how it affects their investment decisions.

Property investors are uneasy about the global funding gap, which consultancy DTZ said totaled about $202 billion, while a slew of insurers, pension funds and private equity houses have entered the debt market, replacing the hitherto dominant banks.

Prime office and retail assets in the UK, France, Germany remain targets for investors chasing income returns, a theme borne out by several developers restarting stalled projects to capitalize on expected economic growth.

In London, blue-chip property companies Land Securities (LAND.L) and British Land (BLND.L) are among those exploiting a supply shortage and rising rents by developing more prime, centrally located London offices.

Elsewhere, property investors are focusing on Spain as it nears the nadir of its economic cycle, while other developers head to emerging Europe, betting economic growth will offer heady returns.

ASIA SPEEDS AHEAD

Asia's emerging markets, particularly China, are tipped to lead the global rebound in commercial real estate, as their rosy economic outlook and rising property values attract yield-hungry investors in burgeoning numbers.

Capital values in Asia's office sector are growing at 20 percent a year, against annual growth of 9 percent in the U.S. and 3 percent in Europe, Kevin Stanley, executive director for CB Richard Ellis' global research and consulting, said.

"It's a value indication where the various markets are doing in the recovery. Clearly Asia is surging ahead and that's why interest is focusing there," he told Reuters.

The debate is now turning to whether Asia's property markets are overheating. On Wednesday, Standard & Poor cut its outlook on China's property market to negative from stable, citing potential regulatory tightening that may cause property prices to tumble.

In the United States, investors are increasingly optimistic that the nation's recession-stricken commercial property sector is finally on the mend after a number of marquee properties in New York and Washington recently sold at high valuations.

Some analysts, however, have warned it may be too early to celebrate a recovery, as property values are still depressed in most markets and are unlikely to pick up until the broader economy significantly improves.

Like Europe, the U.S. also faces the problem of raising capital in time to meet the maturity dates for the $952 billion in commercial property loans the sector holds, which could see more banks defaulting if they are unable to refinance in time.

(Additional reporting by Ilaina Jonas in New York; Editing by Andrew Macdonald)


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Australia Real Estate Sydney apartment for sale , Sydney property

Tuesday, June 14, 2011

House for Sale in South Australia , Australia House for Sale happy-home-group.com

House for Sale in South Australia Other , Australia House for Sale happy-home-group.com

Located within a 10 min walk of Woolworth s , 2 primary schools and 2 doctors senior high school around the corner.. Centrally located in whyalla. This house is divided through the middle so really you have 2 individual homes. The rear and dividing front fence have been taken down. On the right 64 this house an open plan living. Carport and gates on the side with all the bedrooms air conditioned as is the open plan living area Out the back this house has a 6 mt x 6mt lined and insulated


Happy Home Group

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Wednesday, June 8, 2011

House for Sale in Queensland Cairns , Australia House for Sale happy-home-group.com

House for Sale in Queensland Cairns , Australia House for Sale happy-home-group.com

Architect designed house built by award winners Cairns Quality Homes. Consisting of 4 bedrooms with 2 bathrooms, plus entertainment room and office. Largeopen plan flowing design with servery to large decked and roofed Portico. All this overlooking a beautiful pool with waterfall and inlaid wall features. Easy care block with extensive landscaping and room at the rear offroad for boat storage. Good size block with magnificent views of the Kuranda Ranges. Very close to James Cook University


Happy Home Group

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Wednesday, June 1, 2011

House for Sale in Queensland Cairns , Australia House for Sale happy-home-group.com

House for Sale in Queensland Cairns , Australia House for Sale happy-home-group.com

Display home built by award winners cairns Quality Homes. This ideal investment property consists of a block size of 611 square metres with 216 square meters of housing. Very stylish design offering 3 bedrooms, 2bathrooms with 2 car lock up remote controlled garage. Very smart open plan kitchen / dining / living area with servery to a large entertainment area outside with permanent cover plus extra area with a sail cloth cover. Plenty of room for a lap pool also. Built in an all new Smithfield

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House for Sale in Queensland Other , Australia House for Sale happy-home-group.com

House for Sale in Queensland Other , Australia House for Sale happy-home-group.com

One year young 3Brm brick home, Ens. to main. All rooms have BIR. Open plan living, Lounge & Family room. Inground Concrete Swimming Pool, Patio. Located in beautiful Hervey Bay in Queensland, Australia. ONLY $345,000

Happy Home Group

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