More gloom for the housing market as building approvals slump further

But when property prices correct by 20% or more, many people become forced sellers. The construction boom we've experienced over the past several years is finally. A 20% sell down means the future is not looking as bright as it once was. Doom and gloom forecast above is drawn upon many negative scenarios.

Building approvals dropped nearly 10 per cent to a five-year low in November as investors and developers took a step back amid wider housing market anxiety and tighter lending conditions. Total approvals fell 9.1 per cent for the month, and were down 32.8 per cent for the year, according to.

More than. Projects went to market on this 35-storey, 263-unit tower this year after getting approval from the gold coast city Council in late 2017. Signature Broadbeach will be built on a site in.

More than $150 billion has been wiped off the value of Australian homes over the last six months, while the Reserve Bank has all but confirmed further cuts to interest rates.. The official Australian house price figures, released by the ABS on Tuesday, show Sydney and Melbourne driving the slump, with Melbourne recording its first quarterly price fall in seven years.

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Confidence in Australia’s housing markets has leapt in the last few months with most property commentators forecasting property values will finish the year off higher than they are today. Buyers are back making plans, looking at properties and approaching their lenders for finance. They are buoyed by falling interest rates and the prospect of more [.]

More gloom for the housing market as building approvals slump further – AUD softens as market eyes steep decline in building approvals. – AUD analysts have one eye on housing, the other on RBA outlook. – Bad approvals number could hurt AUD ahead of Tues rate.

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On one hand we hear doom and gloom stories of too many units being built in. the RBA’s statement would act as a “brake on bank loans” for new housing when in actual fact, more homes are needed,

More. United Kingdom. Money. December 23, 2008 / 10:08 AM / 11 years ago. Mortgage approvals slump 61 percent. david milliken.. said the data spelt further gloom for the housing market.

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