Aussie property news
People are not currently as worried about Australian property price hikes as they were back in July, a study has revealed.
Worries over house prices ‘have eased’
The Westpac-Melbourne Institute Consumer House Price Expectations index has fallen to 51.1 from 58.8 in July, The Australian newspaper reports.
Some 63 per cent of people surveyed said they expect prices to increase over the next year, compared to 70 per cent who held this view in July.
Over the next year, consumers expect prices to rise an average of 2.6 per cent, down from the 3.6 per cent predicted in July and 5.7 per cent anticipated in April.
"The fact that most still expect prices to rise also suggests that those looking to sell properties will be more inclined to postpone selling until a later date than accept materially lower price offers now," Matthew Hassan, senior economist at Westpac, said.
Last month, Rismark International managing director Christopher Joye told The Australian newspaper that the property markets of Sydney and Canberra have been the best performing out of all of Australia’s State capital cities so far this year.
Eco-friendly Australian property recognised with awards
Eco-friendly property in Australia has been recognised at an awards ceremony held in Melbourne.
The Housing Institute of Australia-Boral GreenSmart Awards acknowledged the efforts of those who have reduced their carbon footprint.
The top award, the GreenSmart Home of the Year, went to Victorian-based Beaumont Concepts and Ecoliv Buildings for its Wonthaggi project, which judges described as "sustainable, simple, beautiful and classy".
West Australia-based Right Homes won the GreenSmart Project Home of the Year award for its Carbon Neutral Home.
The GreenSmart Energy Efficiency Award, however, went to the Northern Territory’s Garrett Homes (pictured) for its "well-integrated energy efficient home in a somewhat challenging area".
A report from the Australian Bureau of Statistics revealed that householders in newer Australian property are more likely to fit the energy efficient features needed to meet government building standards than those in older dwellings.
Steve Douglas is the co-founder and Managing Director of Australian Taxation Services (ATS), established in Singapore in 1995.
ATS provides specialist taxation services to Australian expats living overseas and people of any nationality investing in Australian property.