1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

April sees rise in people buying a house

May 30, 2012

There was an increase in the number of people buying a house in April, latest figures from the Housing Industry Association (HIA) show.

After a weak start to 2012, the property market has begun to recover - although the HIA believes further cash rate cuts and government action are necessary to maintain growth.

Chief economist Dr Harley Dale said: "We keep hearing that Australia is one of the world’s strongest economies in aggregate.

"That's a redundant concept if people on the ground aren't feeling and experiencing that, and they haven't been for quite some time."

Throughout April, the number of seasonally adjusted new detached house sales increased by 17.2 per cent in Victoria, a trend that emerged ahead of the removal of the First Home Bonus.

Meanwhile in Western Australia, detached house sales rose by 9.8 per cent, while New South Wales experienced a 1.8 per cent increase.

There is more good news for residential property buyers, as a joint report from the HIA and Commonwealth Bank found that affordability increased during the first quarter of 2012.

In the first three months of the year, the Housing Affordability Index improved by 6.4 per cent.


Related Articles

Things to look for when renting

Looking for a rental property to call home? There are some important things to keep in mind to ...
read more

Bright tips for lighting rooms

Your residential property is a place you can relax at the end of the day and entertain friends, so ...
read more

Garden trends in bloom

Whether you're a first time buyer or are looking to spruce up your existing home, a beautiful ...
read more

Latest Articles

Is it time for a change?

Is your current home not quite right for your needs? Whatever the reason, you might sell your ...
read more

Growing home lending figures in Western Australia highlight construction rise

Anyone interested in buying land in Western Australia and building their own residential property ...
read more

Calls to keep stamp duty exemption for first home buyers in Western Australia continue

The Real Estate Institute of Western Australia (REIWA) has stood up or the rights of first home ...
read more