In property news this week, values lift; home renovations are booming; and the government extends incentives for first home buyers
Spring has brought a bounce in home values across most capital cities, according to the latest monthly data released by CoreLogic.
September marked a striking turn in housing market sentiment, Corelogic’s data analysts suggest, with consumer confidence increasing, new listings up, and six of the eight capital cities recording a rise in values over the month.
The Reserve Bank continues to hold its stance of ‘wait and see’, once again making no change to interest rates this week.
RBA Governor Philip Lowe noted that while the Australian economy experienced a sharp contraction in the June quarter, the decline in output was smaller than in most other countries and less than had earlier been expected...
Home renovation work is booming, according to data released this week by the Australian Bureau of Statistics.
The figures show that the value of residential building around the country rose 4.4 per cent in August, in seasonally adjusted terms. This was partly driven by an increase of 7.0 per cent in the value of residential alterations and additions, taking that sector to the highest level since April 2016.
For most people, a broken piece of furniture would mean a trip to the tip followed by a buying spree to replace it. To New Zealand joiner/cabinet maker Henk Verhoeff, however, it is a work of art.
Verhoeff started crafting what he proudly calls ‘weird furniture’ when he retired, spending endless hours just enjoying his craft. He has no intention to sell the whimsical pieces, unless, he says, he runs out of space in his house, at which time he’ll put them all up on eBay to make room for more!
First home buyers have been given yet another boost this week, with the announcement of a further release of First Home Loan Deposit Scheme (FHLDS) places.
The scheme has already helped almost 20,000 first home buyers purchase a home this year with a deposit as low as 5 per cent. An additional 10,000 places will now be provided from 6 October 2020...
An apartment building in Melbourne has become the first in Australia to be fitted with vertical solar panels, according to the company which helped to install them.
The 87 lightweight panels installed onto the façade of Docklands’ Harbour One are expected to power the equivalent of 11 apartments per year, offset 27,000 tonnes of carbon and save the residents $6000 in annual running costs, Winconnect says.