Search Results for: Tim Reardon
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INDUSTRY NEWS
April 2018: Interest rates on hold, Industry reaction
At its meeting today, the RBA Board decided to leave the cash rate unchanged at 1.50 per cent. “The housing markets in Sydney and Melbourne have slowed. Nationwide measures of housing prices are little changed over the past six months, with prices having recorded falls in some areas,” says RBA Governor Dr Philip Lowe. “In the eastern capital cities, a considerable additional…
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INDUSTRY NEWS
New Home Sales Cooled in 2017: HIA
“The consistent feature of new home sales in 2017 is that the market is cooling,” stated HIA’s Principal Economist, Tim Reardon. “The HIA New Homes Sales Report – a survey of Australia’s largest home builders – highlights that there has been a fall in the number of new homes sold in 2017, but the industry remains at relatively healthy levels…
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NEWS
Higher interest rates for investors eases housing affordability for owner-occupiers: HIA
“The HIA Housing Affordability index for Australia improved by 0.5 per cent in the September 2017 quarter but still remains 4.4 per cent below the level recorded a year ago,” said Tim Reardon, HIA’s Principal Economist. “Housing Affordability has been deteriorating in Australia for decades, particularly in capital cities, as demand for new housing greatly exceeded the supply. “Recent interventions…
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NEWS
Government Policy Drives First Home Buyers
“First Home Buyers are returning to the market in NSW and Victoria off the back of enhanced Stamp Duty concessions in these markets,” stated Tim Reardon, HIA’s Principal Economist. “In July 2017 – the first month that these concessions took effect – the volume of First Home Buyers in NSW jumped to its highest level since 2012, increasing their share…
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INDUSTRY NEWS
RBA rates decision September 2017
The decision was widely anticipated and it is the 13th month in a row the cash rate has not moved from 1.5 per cent. In a statement accompanying the decision, RBA Governor Philip Lowe said the construction boom seems to have reached its peak. “Residential construction activity remains at a high level, but little further growth is expected,” Dr Lowe…
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NEWS
New home and first home buyer lending bounces up in May
First-home buyers have come back into the market, according to ABS housing finance data which shows new home lending increased in May this year. The ABS has released the Housing Finance data for May 2017, which shows new home lending increased during that month. Housing Industry Association’s principal economist Tim Reardon said lending to first-home buyers coincided with an increase…
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NEWS
HIA: Home renovation market gets a makeover with return to growth from next year
Following a slump in renovation jobs this year, HIA are predicting the home renovation market will return to growth from 2018 onwards. The July 2017 edition of the Housing Industry Association’s Renovations Roundup report reveals forecasts and figures for the $32 billion Australian home renovation market. HIA principal economist Tim Reardon says with new home building set to decline over the…
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NEWS
Fewer new homes and apartments in the pipeline in May: HIA
Data released by the ABS shows there has been a decline in housing and apartment approvals over May 2017, raising questions on growing demands for housing by first-home buyers. The number of dwellings approved fell 1.9 percent in May 2017. In seasonally adjusted terms, approvals for construction of new homes fell by 5.6 percent in May, driven by a fall…
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NEWS
Industry responds to RBA’s July interest rate decision
The Reserve Bank of Australia kept interest rates on hold at 1.50 per cent at its July 2017 board meeting yesterday. Here’s what some industry players had to say following the RBA’s decision: John Cunningham, REINSW President “It comes at little surprise that the RBA has decided to keep a neutral position for the 10th meeting in a row. We believe…
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NEWS
More People Renting and More Apartments: HIA
“The symptoms of an under-supplied housing market continue to show-up in today’s census figures,” stated Tim Reardon, HIA’s Principal Economist. “The number of people living in each dwelling has increased in Sydney and Melbourne to 2.7 people (2.6 nationally). Furthermore, the number of households with six or more people has increased by 20 per cent since 2011. “There has been…
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FRANCHISE NEWS
Gold Coast Pyjama Foundation receives support from First National Foundation
First National Real Estate has donated $5,000 to the Pyjama Foundation through its independent charity, The First National Foundation. Foundation Chairman David Lovell presented a cheque to Gold Coast Regional Coordinator, Stephanie Reardon during the network’s National Convention at the RACV Royal Pines Resort, which had attracted over 350 agents from around Australia. The network’s Family Day was a fun-filled…
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