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| 10 March 2010 |
No relief for home buyers as affordability declines for the third consecutive quarter
The Real Estate Institute of Australia’s (REIA) Deposit Power Housing Affordability Report for the December quarter shows no relief for home buyers, with housing affordability declining in all states and territories, except for Western Australia.
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| 10 March 2010 |
Monetary policy biting
The Australian Bureau of Statistics (ABS) January 2010 Housing Finance figures released today show that in trend terms, the number of finance commitments have decreased by 3.6 per cent, compared to December 2009.
The President of the Real Estate Institute of Australia (REIA), Mr David Airey said “The impact of the three consecutive interest rate increases in the December quarter of last year and the phasing out of the First Home Owners Grant Boost (FHOG Boost) are clear in these figures.”
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| 08 March 2010 |
REIA Media Alert
The REIA will release the Deposit Power Housing Affordability Report for the December quarter 2009 on Wednesday 10 March 2010. The document is a comprehensive and accurate assessment of the ability of Australians to meet the cost of home purchase and is based on data from all major lending institutions.
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| 02 March 2010 |
Rate hiatus not long enough
The Reserve Bank of Australia’s (RBA) decision to increase official interest rates by 0.25 per cent for the fourth time in five months, after a brief hiatus in February, will increase affordability pressure on Australian families and really hurt business and commercial borrowers”, said Real Estate Institute of Australia (REIA) President, Mr David Airey.
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| 10 February 2010 |
Housing finance figures show RBA decision justified
The Australian Bureau of Statistics (ABS) Housing Finance figures for December 2009 show housing finance commitments, in trend terms, have once again decreased, this time by 2.3 per cent – the largest decrease since August 2009.
“August 2009 saw the first decline in housing finance figures in 12 months and figures have continued to decrease since this time,” said Real Estate Institute of Australia (REIA) President, Mr David Airey.
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| 05 February 2010 |
REIA proposes long-term solutions to assist the first home buyer market
The Real Estate Institute of Australia (REIA) has urged the Government to review the amount of the First Home Buyers Grant (FHOG) in its Pre-Budget Submission, so that it maintains its relativity to when it was introduced in 2000.
“We are calling on the Government to increase the FHOG to $15,000, for both new and established homes, and then index the grant to median house price movements annually”, said REIA President, Mr David Airey.
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| 02 February 2010 |
No change welcome news for Australians
“The Reserve Bank of Australia’s (RBA) decision to leave interest rates unchanged following three consecutive increases is great news for home owners,” said Real Estate Institute of Australia (REIA) President, Mr David Airey.
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| 01 February 2010 |
Positive first steps towards national licensing
Real Estate Institute of Australia (REIA) President, Mr David Airey, said the West Australian Government’s decision to abolish The Real Estate and Business Agents Supervisory Board is a positive move from state legislation to national legislation.
“This development is a direct result of a decision made by all state and territory governments and the Commonwealth Government to move towards a national licensing system for occupations, including real estate agents,” he said.
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| 27 January 2010 |
Caution needed in interpreting CPI figures
The December 2009 quarter Consumer Price Index (CPI) for the housing group, increased by 0.8 per cent compared to all groups, which increase 0.5 per cent. These figures increased 5.5 per cent and 2.1 per cent over the twelve month period, respectively.
The President of the Real Estate Institute of Australia (REIA), Mr David Airey says, “The December figures should not be interpreted as rampant demand in the housing sector. We need to examine the facts underlying these outcomes before jumping to conclusions.”
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| 12 January 2010 |
Housing finance slow down not unexpected
The decrease in lending in the November 2009 housing finance statistics, released by the Australian Bureau of Statistics (ABS) is not unexpected, according to the Real Estate Institute of Australia (REIA).
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