Media releases 2015

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  • Date of Release

    Title

  • 09 December 2015

    Growth in median prices is slowing down

    The Real Estate Institute of Australia (REIA) says that Australia’s housing market continued its growth in the third quarter of 2015, according to the latest REIA Real Estate Market Facts publication, however the rate of growth was slower than in the previous quarter.
    The REIA President Neville Sanders says, “The weighted average, capital city median price increased by 2.3% for houses and 2.1% for other dwellings.”

    “The weighted average, median house price for the eight capital cities is now $698,826. Growth in Sydney and Melbourne are the primary drivers, especially when it comes to annual changes. Over the quarter, Perth, Hobart and Darwin saw decreases in median house prices while Brisbane had a marginal increase of 0.2%.”
    “Compared to the same time last year, the weighted average median house price rose 12.6%.”

    “The weighted average, median price for other dwellings for the eight capital cities was $549,125. Over the quarter, most capitals recorded increases; however prices fell in Adelaide, Perth and Canberra.”

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  • 09 December 2015

    Lending figures point to a continuing increase in owner occupier activity

    The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) show a continued increase in owner occupier lending.

    The Real Estate Institute of Australia (REIA) says the figures for October 2015 show, in trend terms that the number of owner-occupied finance commitments increased by 0.8 per cent. This increase is the same as for the previous two months. If refinancing is excluded, in trend terms for October, the number of owner-occupied finance commitments increased by 0.8 per cent – the fifth consecutive month of increases.

    REIA President, Neville Sanders says, “increases were recorded in New South Wales, Victoria, South Australia and the Australian Capital Territory with New South Wales having the largest increase of 1.8 per cent. The largest decrease was again recorded in the Northern Territory – down 1.3 per cent and the fourteenth consecutive month of decreases.”

    “In trend terms, the number of new dwellings purchase commitments increased by 1.5 per cent while new dwelling construction remained unchanged and the purchase of established dwellings increased by 0.8 per cent”.

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  • 03 December 2015

    Increasing loan size brings housing affordability down

    A new report released today shows that overall housing affordability in Australia declined over the September quarter with homes becoming less affordable in five out of the eight states and territories.

    The latest edition of the Adelaide Bank/ REIA Housing Affordability Report, released today by the Real Estate Institute of Australia, provides a comprehensive update for the sector using the latest data for the September Quarter 2015.

    REIA President Neville Sanders says, “The latest REIA Housing Affordability Report shows that the proportion of median family income required to meet average loan repayments was 31.7%. The figure increased 1.4 percentage points during the quarter and 1.3 percentage points compared to a year ago largely due to the increasing size of new loans.”

    “Sadly, the deterioration was seen in most states and territories and the overall level of housing affordability now is at its worst level since March 2013. Western Australia and the Australian Capital Territory were the only jurisdictions to record improvements while the proportion of the median family income required to meet average loan repayments remained unchanged in the Northern Territory.”

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  • 10 November 2015

    Lending figures point to investor activity abating

    The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect the impact of the macro prudential measures in slowing down investor activity.

    The Real Estate Institute of Australia (REIA) says the figures for September 2015 show, in trend terms that the number of owner-occupied finance commitments increased by 0.7 per cent. This increase is the same as for the previous month. If refinancing is excluded, in trend terms for September, the number of owner-occupied finance commitments increased by 1.2 per cent – again the same as for the previous month.

    REIA President, Neville Sanders says, “increases were recorded in New South Wales, Victoria, South Australia and the Australian Capital Territory with New South Wales having the largest increase of 2.1 per cent. The largest decrease was again recorded in the Northern Territory – down 1.3 per cent.”

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  • 28 October 2015

    CPI suggests interest rate cut

    According to the Real Estate Institute of Australia, the September 2015 quarter CPI figures confirm the RBA Board’s assessment at its October meeting that inflationary pressures are well contained and are likely to remain within the RBA’s target over the next one to two years.

    REIA President, Neville Sanders, says “this raises the possibility of an interest rate cut and certainly a sustained period of low interest rates which is good news for home owners.”
    “In the September quarter, the CPI rose by 0.5% and an annual rate of 1.5%. These figures are well below the RBA’s target zone of 2-3% and should ease any pressure on the interest rate outlook,” Mr Sanders said.

    “The annual changes for the analytical series of trimmed mean and for the weighted median were 2.1% and 2.2% respectively. In the case of the trimmed mean this is the lowest annual increase since the series was introduced in June 2003 and for the weighted mean the lowest since June 2012,” Mr Sanders said.

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  • 09 October 2015

    Lending figures point to a steady housing market

    The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect stable lending activity.

    The Real Estate Institute of Australia (REIA) says the figures for August 2015 show, in trend terms, that the number of owner-occupied finance commitments increased by 0.5 per cent. This increase is slightly down on the increase of the previous month of 0.6 per cent. If refinancing is excluded, in trend terms for August, the number of owner-occupied finance commitments increased by 1.0 per cent.

    REIA President, Neville Sanders says, “increases were recorded in New South Wales, Victoria, South Australia and Tasmania with New South Wales having the largest increase 1.6 per cent. The largest decrease was recorded in the Northern Territory – down 3.7 per cent.”

    “In trend terms, the number of new dwellings purchase commitments increased by 0.6 per cent while new dwelling construction decreased by 0.5 per cent and the purchase of established dwellings increased by 0.6 per cent”.

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  • 09 September 2015

    Another strong quarter for the residential market

    The Real Estate Institute of Australia (REIA) says that Australia’s housing market recorded strong growth in the June quarter of 2015, according to the latest REIA Real Estate Market Facts publication.

    The REIA President Neville Sanders says, “The weighted average, capital city median price increased by 4.2% for houses and 3.3% for other dwellings.”

    “The weighted average, median house price for the eight capital cities of $682,840 can be attributed to price growth on the nation’s eastern seaboard. Sydney’s median house price has reached the $1 million mark and is now $1,004,767 and, the median house price in Melbourne reached the $700,000 mark and is now $706,000.” “Compared with the same time last year, the weighted average, capital city median house price rose 10.8%.”

    “The weighted average, median price for other dwellings for the eight capital cities was $532,544. Most capitals recorded decreases; however solid growth in Sydney, Melbourne and Canberra translated in an overall rise during the June quarter. Perth had the largest drop across the capitals with the median price for other dwellings going down 4.5%.”

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  • 09 September 2015

    Renters benefitting in a moderating housing market

    The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect continued declining lending activity.

    The Real Estate Institute of Australia (REIA) says the figures for July 2015 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.2 per cent. This fall is the fourth consecutive monthly fall and follows eleven months of increases. If refinancing is excluded, in trend terms for July, the number of owner-occupied finance commitments fell by 0.2 per cent.

    REIA President, Neville Sanders says, “Decreases were recorded in all states and territories except Queensland, South Australia and New South Wales. The largest decrease was recorded in the Northern Territory – down 3.7 per cent – and the largest increase was in New South Wales – up 0.4 per cent.”

    “In trend terms, the number of new dwellings purchase commitments increased by 0.5 per cent while new dwelling construction decreased by 0.9 per cent and the purchase of established dwellings decreased by 0.1 per cent.

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  • 04 September 2015

    Australasian Auctioneering Champion Announced

    After a few days of tough competition in Melbourne, the Australasian Auctioneering Champion has been announced for 2015. The championship, this year hosted by the Real Estate Institute of Victoria, was a hotly contested event with all contestants delivering outstanding auctions, but, it was Harry Li from Victoria who was declared the 2015, Australasian Auctioneering Champion, winning the title for Australia after four consecutive wins by New Zealand.

    REIA would like to congratulate the winner, Harry Li, as well as all the finalists:

    -John Bowring – New Zealand (REINZ)
    -Damien Cooley – NSW
    -Andrew North – New Zealand (REINZ)
    -Edward Riley-NSW

    The annual event tests the top auctioneers on their knowledge of best practice and legislation as well as their performance in a simulated auction situation that includes complex bidding sequences and testing questions.

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  • 02 September 2015

    Declining interest rates and rising income spur improving housing affordability

    A new report released today shows an improvement in overall housing affordability over the June quarter with the positive development seen in seven out of eight Australian states and territories.

    The latest edition of the Adelaide Bank/REIA Housing Affordability Report, released today by the Real Estate Institute of Australia, provides a comprehensive update for the sector using the latest data for the June Quarter 2015.

    REIA President Neville Sanders says, “The latest Adelaide Bank/REIA Housing Affordability Report shows that the proportion of median family income required to meet average loan repayments was 30.3%. The figure decreased 0.5 percentage points during the quarter and 0.6 percentage points compared to a year ago largely supported by declining interest rates and rising income.”

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