On release of the report, IBISWorld General Manager, Ms Karen Dobie, said that increased urban sprawl, gentrification and multi-occupancy housing will continue to be the big housing trends in the coming ten years. 

She also noted that Western Australia is set to experience strong population growth – potentially jumping from 2.4 million to 3.4 million by 2025, adding an additional one million people to the state over the next decade. 

In terms of the types of residences that people will be living in, Ms Dobie commented that property price increases, combined with family and lifestyle factors, are driving a trend towards apartment and high-density living.  More Australians are trading in quarter acre blocks for balconies – a trend IBISWorld expects to continue as Australia heads towards 2025.

Ms Dobie said that “The increasing age of marriage (now 29 for females, 32 for males) and the trend to wait longer to have children is another factor fuelling the shift towards apartment and share house living – with young people opting to live in close proximity to work, entertainment and public transport.”

The report also contained insights into the amount of hours Australians will be working and spending leisure time in 2025, as well as the source of our power, with the use of renewable sources and green energy forecasted to increase.

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The two year fixed rate has been reduced from 5.89% p.a. to 5.79% p.a.; the three year rate has been reduced from 6.39% p.a. to 6.10% p.a.; the four-year special of 5.99% p.a. finishes and the rate becomes a regular carded rate of 6.50% p.a. and the five year rate is reduced from 7.19% p.a. to 6.90% p.a..

BNZ economist Tony Alexander said the latest survey revealed a lift in the number of agents feeling there are more investors in the marketplace.

“This is an important development in the context of the previous eight surveys when interest from investors was not seen to be changing,” he said.

“The increasing attention being given in the media to rental accommodation shortages and rising rents may be spurring investors back into action after retreating in the face of taxation policy changes.”

The survey found investors were especially active in Manukau City, where a net 52.6% of licensed real estate agents reported investor buying activity.

Other areas to see large numbers of agents reporting investor buying included North Shore City (50%), Dunedin City/Otago/Manawatu/Wanganui (40%) and Waitakere City (37.5%).

The survey also revealed the stark difference in investor activity between Auckland and Wellington, with a net 32.4% of Auckland City agents reporting investor buying activity against a net 11.1% for Wellington/Porirua/Hutt Valley.

Alexander also highlighted Christchurch for “attracting little interest from investors,” with a net -12.5% of agents seeing investors buying in Christchurch City.

Overall the survey revealed a sharp turn for the better in the residential housing market.

“Each of our eight major measures of housing market strength has risen over the past month to show a residential real estate market attracting more interest from investors, even more first home buyers appearing, buyers becoming more motivated than sellers, and prices more strongly perceived to be rising,” said Alexander.

Included in the survey’s positive results was an increased number of agents believing prices are rising (net 24% against 10% in December) and a sharp rise in agents seeing increased open home visits (49% against 0%).

Although it seems that many lenders have been more competitive in recent months the amount of lending in the market has not increased and could therefore fall back further depending on how the euro zone pans out.

Therefore the trend for ever cheaper mortgage rates is on the turn, which points to rate changes.

Some analysts state that mortgage rates have been moving to and fro consistently over the last 12 months and therefore these are hardly revelations.

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How far ahead of time you need to request showings depends on where in Chicago the homes are located.

If the homes are located in the city closer to the suburbs than downtown, you might be able to see them with less than 24 hours notice. However, showings typically must be confirmed by the sellers, so dont expect to be able to see homes for sale in less than a couple of hours.

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Home sales in Leavenworth and Lake Wenatchee continued to chug along in the 4th quarter of 2011 and I dont think anyone was particularly surprised with the results.

All in all, 2011 looked a lot like 2010.

The median home price in Leavenworth fell from $310,000 to $307,000. This is down 12% from a peak of $349,000 in 2008

Average home prices in Leavenworth fell from $362,000 to $353,000.

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The deal Co-operative Bank is offering a five year fixed rate mortgage at 3.39 per cent.

The good points You can’t get a lower five year fixed rate at the moment. The nearest is and offering from Yorkshire building society at 3.59 per cent.

The bad points To qualify you’ll need to have a current account with the Co-op as well as a deposit of at least 25 per cent. If you have only a 15 per cent deposit, the rate climbs to 4.24 per cent. The application fee is steep at 999.

Conclusion The Co-op is currently offering 200 if you switch current accounts to it so, combined with this offer, that could be a powerful inducement. How

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According to recently published statistics by the National Association of Realtors, more home sellers are seeking the expertise and professional services of a real estate agent to sell their home, rather than trying to sell it on their own.

Over the last decade, the share of home sellers who used a real estate agent or broker to sell their home increased from 77% to 87%, while people who tried to sell their own home (For Sale By Owner or FSBO) decreased by 9%.

Why are more and more sellers using real estate agents to help them sell their homes?

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To those people who made a property purchase throughout the year, I congratulate you.  Whether buying for the first time or adding to a burgeoning portfolio, purchasing real estate is a significant step and represents an investment in yourself and your future – something to be proud of.    

Alternatively, for those who, for whatever reason, didn’t manage to secure a property purchase in 2011, I encourage you not to give up your search, if property ownership is an important goal for you.  With interest rates down (and the potential for further cuts) and recent improvements seen in housing affordability (amongst other factors), 2012 could be the year where you find your dream home or investment property. 

On the topic of interest rates, for those of you who wish to take advantage of the Reserve Bank’s cut to rates in both November and December and are looking to purchase a property prior to Christmas, I hope the process of organising the necessary elements is a smooth one.  There is no doubt that property transactions in the lead-up to Christmas can be somewhat busy and stressful with many people preparing to go away, and I would advise you to ensure that all elements (such as property inspections, strata reports, etc) are completed before the necessary providers close for extended breaks over Christmas and the holiday period. 

To all of my readers, I hope you have a fun and relaxing time over the holiday season.  I will be taking a little bit of time off writing these blogs to enjoy a nice break but will return in 2012 to make sure you remain up to date with happenings in the Australian residential property market. 

From myself and the entire team at CENTURY 21 Real Estate, I would like to extend warm wishes to all readers for a happy and safe Christmas and holiday period as well as a successful year to come.

The event will take place at the Walter Clore Wine and Culinary Center in Prosser Washington. Things will kick off at 2:00pm and last until 8:00pm.

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Kiwibank Chief Executive Paul Brock said it is by far the lowest rate ever offered by the bank and significantly under cuts the other main banks.

“We’ve seized an opportunity to offer what we believe is a startlingly low home loan interest rate.

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