Market News

GLOBAL UPDATE
Of 39 countries with available housing statistics:
- 16 countries saw price ↑

-  23 countries saw a price ↓

THE BEST
- Norway best performer 6.9% ↑ with low interest rates
- Austria 6.5% ↑ + 7th year of continuous ↑
- Switzerland apartments ↑ and have for the last 10 years
- Germany apartments steady but economy expected to ↑
- Asia:Hong Kong 18.8% ↑ following 27.9% ↑ previously
- Middle East:Israel 7.8% ↑ following 15.7% ↑ previously

THE WORST

- Ireland ↓ of 13.1% after 13.6% ↓previously
- Spain ↓ of 7.9%
- United Kingdom average house prices ↓ by 4.4%


NATIONAL UPDATE

NEW HOMES
- Sydney is the biggest at 324sqm - a 20% ↑ since 2001
- Adelaide is the smallest at 125.4sqm
- Canberra + Darwin are the most expensive for housing construction
HOUSING AFFORDABILITY
- Percentage of income required to meet home repayments is currently 34.6%
- ACT is the most affordable state at 18.2% of income
- NSW remains the least affordable
- First home buyers fallen to 20 year low
 
ADELAIDE
GREATEST SUBURB GROWTH

- Henley Beach - 30%
- Largs Bay - 18.5%
  
GLOBAL NEWS UPDATE

TURKEY

40% increase in sales to foreigners in 2010. Real Estate sold topped   $82.5 billion.

BRAZIL

A property boom is occuring particulalrly in the major cities of Sao Paulo and Rio.

DUBAI

Dubai's newest residential property tower 'The Torch' has become the largest residential skyscraper, beating the Q1 Tower on the Gold Coast by 25 metres. 



ADELAIDE - HOW AFFORDABLE?
 
Adelaide housing is running at 5.7 times income with a median price of $436,000 and an average household income of $76,500.

Sydney runs at 6.2 while internationally, Vancouver is 9.3 and Los Angeles is 5.7.

Housing now represents 90% of total debt 70% 20 years ago.



NATIONAL - A SNAPSHOT

110,000 new households are established each year.

The number of unoccupied houses remains constant at about 10%.

Australia now produces the largest houses in the world with an average of 235 square metres, compared to USA at 221 square metres and Japan at 127 Square metres.



NATIONAL - LAND SIZE

Hobart has the largest average size block (697sqm) and is the most affordable at an average of $145,000.

Adelaide has the smallest average size block (377sqm) and at an average cost of $180,000.



NATIONAL BEACHSIDE SUBURBS

Most Affordable - Rocky Cape, Tasmania - $85,000.

Most Expensive - Vaucluse, Sydney - $3.3million.



GLOBAL NEWS UPDATE

IRAN

- Property Boom! A record number of properties were built in the last few years.
- Groom has to provide a house when young couples marry.
- Foreigners can own residential property, if for their own use.

SWITZERLAND

- Property market remained stable in 2010.
- Foreign ownership is tightly controlled, but this is easing.
- 64% of all householders rent - low home ownership.

VIETNAM

- Average price of Villas in good areas $1.485-$1.98million.
- Only place in the world where all real estate transactions are done in pure gold!




 

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