Wednesday, September 08, 2010
   
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Investment property- a shortage is looming

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Written by Ian Begaud Wednesday, 04 November 2009 20:26

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Ian's Prediction - A housing stock shortage is looming
Why you ask?  There are plenty of houses and apartments for sale.
After having discussions with many of our developers and builders, the signs are clear and standing out like neon signs. Banks do not have the available funds to allow the building of the "next" builder's  project until this one is sold, or that next stage is sold and paid for! Banks are demanding that between  60 per cent up to 100 per cent of new projects be under contract prior to receiving funding. That is in addition to developers being instructed by their Banks to "consolidate" before they get any more funding.

SE QLD Weather



Now
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Partly Cloudy
19°C, Windchill: 19°C
Wind: 13 kph SW
Humidity: 73%
Visibility: 0 km
pressure: 1,021 mb steady
Sunrise: 5:53 am
Sunset: 5:37 pm
Thu
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Mostly Sunny
Hi: 24°C, Low: 20°C
Fri
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Showers
Hi: 23°C, Low: 15°C

Making Money News

  • Housing affordability worsens
    Housing affordability in Australia has continued to decline over the June quarter, according to a Real Estate Institute of Australia (REIA) report.
  • Housing finance up a little
    Building and construction organisation Master Builders Australia has welcomed an upturn in some housing finance commitments during July.
  • More demand for fixed rates
    Fixed rate home loan demand rose in August by 0.64 per cent; the first rise in three months, according to Mortgage Choice
  • Homebuyer confidence is back
    Homebuyer confidence is back to pre-global financial crisis (GFC) levels, according to a new measure of borrower and would-be borrower sentiment launched by lenders mortgage insurer Genworth Financial.