News Archive

FAQ's - Foreign Investment Review Board

15 June 2010

PURCHASING RESIDENTIAL PROPERTY IN AUSTRALIA FREQUENTLY ASKED QUESTIONS (FAQs)            Q 1. I am a non-resident. Do I need approval to buy residential property in Australia? What type of property can I buy? Yes, you must seek prior approval for all acquisitions. You can purchase any number of new dwellings and/or b... read news item »

Foreign Investment in Australia

15 June 2010

Foreign Investment in Residential Real Estate Under Australian law, the Foreign Investment Review Board (FIRB) examines proposals by foreign persons to acquire interests in residential real estate in Australia, and makes recommendations to the Government on whether those proposals are suitable for approval under its foreign investment policy. Australia's eligibility rules for f... read news item »

April Data Shows Collapse of First Home Buyers

19 May 2010

The first home buyer market has collapsed on the back of rising interest rates and the removal of the Commonwealth grant for first time buyers. New First Home Owner Grant data from the Office of State Revenue show that there were just 988 first home buyers in April, down from 2,322 in April of last year. Real Estate Institute of Western Australia President Alan Bourke said for the m... read news item »

Buyer Demand Gathers Pace

24 March 2010

Real Estate Business BULLETIN , 24 March 2010   Buyer demand gathers pace Despite four rate hikes in six months, and the possibility of more on the horizon, buyer demand is not showing any signs of waning. More>> ... read news item »

No Interest Rate Rise!

02 February 2010

Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 3.75 per cent. The global economy is growing, and world GDP is expected to rise at close to trend pace in 2010 and 2011.  The expansion is still likely to be modest in the major countries, due to the continuing legacy of the financial cris... read news item »

Perth Set To Break Property Price Record

15 January 2010

The real estate industry's peak body predicts Perth's average house price could soon hit record highs, as the number of days to sell a property falls substantially.  Data released by the Real Estate Institue of WA shows the average number of days it took to sell a property in the three months to December was 54, down 10 on the September quarter.  The surge has come off the back... read news item »

NAB Revises Rate & House Price Forecast

13 October 2009

  Following on from the Reserve Bank of Australia’s decision to raise the official cash rate by 25 basis points to 3.25 per cent last week, the National Australia Bank has now re... read news item »

Purpose of Funds

07 October 2009

Many property owners get caught when they decide to buy an investment property or upgrade residences with the tax deductibility of funds.   The situation occurs when they have paid off a portion of their main residence and decide to upgrade and retain the previous home.   Their rationale is that they would then like to turn their first home into an investment propert... read news item »

Banks 'reap profit from existing customers'

06 October 2009

Research showing that banks charge their home-loan customers a higher variable rate than the average offered to new borrowers has ignited a controversy over the cost of switching mortgages.   The research, commissioned by The Australian from independent industry analysts brandmanagement, says the average variable rate offered to new borrowers is 5.24 per cent.  However, ba... read news item »

REIWA Announcement

10 July 2009

Perth’s median house price recovers in June Trade-up buyers return; rents soften. Preliminary data released today by the Real Estate Institute of Western Australia show that Perth’s median sale price for homes grew by $15,000, or around 3.5 per cent, in the June quarter.   This growth rate brings Perth’s median house price to around $44... read news item »

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