In this week’s two minute property investment news video: building activity is on track for a rebound this year, more needs to be done for first homeowners & unit dwellers are being asked to watch their P and Q’s
A survey by Master Builders Australia showing a strong rise in builder confidence during the December quarter last year is telegraphing good news into 2014.
The industry body’s chief economist, Peter Jones, says building activity is on track for a rebound this year on the back of a revival in sentiment which has come after an extended downturn.
Jones says the building industry is set to take up the slack from any mining downturn too, and confidence is extending into the non-residential sector as well.
A New South Wales report says more needs to be done for first homeowners.
A briefing paper titled House prices, ownership and affordability: trends in New South Wales suggests grants targeted towards first homeowners haven’t been effective in improving affordability.[sam id=37 codes=’true’]
The report’s author Andrew Haylen says “With continued pressures from population and household income growth, demand is likely to be reduced only by reducing the attractiveness of housing as an investment asset,”
The document says financial deregulation and changes to the tax system have resulted in increased activity by investors since the early 1990s, with overseas buyers now influencing prices too, making it harder for first timers to get into the market.
And finally unit dwellers are being asked to watch their P and Q’s. It seems the festive season brought more than its fair share of grief to some apartment residents with one of the country’s biggest body corporate managers issuing a “please behave” warning.
Achers Body Corporate says it decided to issue the notice after receiving multiple complaints over the Christmas period. Archers says that body corporates are cracking down on residents and suggests problems can be avoided by using common sense and ensuring guests behave appropriately.