Last week the Australian Statistical Office and a number of consulting firms have published data on the country's residential real estate market. You can note, that market metrics have undergone some adjustments, that was the result of state regulation measures.
According to statistics, over the past year the volume of Australian housing sales and prices have showed a steady growth, amounted to approximately 7% and 12% respectively. This was due to strong demand for residential properties, which was stimulated by the influx of migrants, as well as some supply shortages.
To avoid overheating of the market, Government has taken a number of measures, of which have been key to raise interest rates on mortgages and reductions in government grants first home buyers.
Experts say, these actions of the authorities led to, that the volume of home sales as of December decreased by 4,6% the previous month. Prices have not been able to respond to these changes, and the December decline in 0,3% It was due to seasonal factors, analysts say. However, they expect the housing prices a significant slowdown in growth in 2010 year.
note, that the boom in the real estate market of Australia also caused a rise building, what, in turn, impact on the rise in price of building land. For the third quarter 2009 , their cost has risen to 5,7% in comparison with the previous.
According to experts of the Australian real estate market, the state should have an impact on the real estate segment Land. In particular, It proposed to allocate additional land for construction.
Summarizing, we can talk about the effectiveness of certain measures of state regulation of the Australian real estate market. About tom, any measures against overheating "their" property markets are taking other governments, can be found in the article "The Chronicles of success: power against real estate bubbles ".
A source: prian.ru