Interest Rates Remain Stable

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Whilst the Reserve Bank has noted that residential prices have seen significant growth, a word that should be starting to announce what frame of mind they’re in, there would be genuine concern around the decline in dwelling finance approvals.  This is a part of the economy that the RBA would desperately like to see improve, however concern still arises out of higher unemployment rates.

 

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Is Gladstone Really a Mining Town?

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If you think Gladstone is a mining town, you'd be wrong.  Over 95% of the population is employed outside of mining.  The unemployment rate is 3.5%, well below the State average of 5.9%.  Whilst there is no doubt that a price correction in housing has occurred, many desktop analysts fail to see Gladstone for what it really is, an industrial port city.

Perhaps one other interesting piece of information, the majority of Gladstone's real estate agents actually have vacancy rates for housing at less than 5.0%, a far cry from the 12.0% plus being listed by others.

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Talk of Housing Bubble Premature

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This week the ABS released the quarterly weighted average house price data series for Australia’s capital cities.  All the media hype surrounding a property boom appears to be largely that, hype.  Now don’t get me wrong, it is great to see the media in a positive frame of mind about the property sector, because clearly it has been years since we have seen that.

However the most recent statistics demonstrate that the property recovery is still in its infancy in many centres and with the exception of Sydney (3.6% Qtr or 11.4% p.a), and some may argue Melbourne, is still relatively fragile. 


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Brisbane Housing Recovery Underway

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The outlook for the housing market in Brisbane is very positive with the Federal election being the final confidence hurdle for many buyers thinking of investing, downsizing or upgrading. The other incentive for buyers is the low interest rate, with some commentators predicting a further rate cut, possibly in November. The first homebuyer market is still at historically low levels due to the removal of the grant for established housing; however the improvement in the broader economic conditions may see this sector of the market also start to improve, especially if there is a further cut to interest rates.

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Are Public Transport and Bicycles the Future for Capital Cities?

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A message to our governments, if you want people to use their cars less, you need to improve the public transport network and pricing thereof. In 2012, approximately 7 in 10 people (71%) aged 18 years and over travelled to work or full time study primarily by passenger vehicle, similar to 2009 (72%). This could have been either as a passenger or a driver. Only 16% of Australians used public transport, while 4% walked and 2% cycled. (ABS)  

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