Tuesday, February 5, 2013

Perth House Prices, Building Approvals and Mortgage Approvals Up

The Australian Bureau of Statistics have revealed that in their house price index, Perth rose 2.9% in the final quarter of 2012. This is almost the same findings as the REIWA which recorded Perth prices going up by 3%. The average growth across the nation was 1.6% with Darwin not too far behind Perth with a 2.6% growth and Sydney not far behind with 2.3%.  Hobart was the only capital city that went backwards with a loss of 1.4% over the last three months of 2012. Over 2012, ABS estimates that Perth grew by 5.6%.

Building approvals up 
Yesterday, The West Australian reported that WA building approvals were reported to have increased by 1.3% in December which was the fifth consecutive increase for the mining state. Currently, building approvals are at the highest level since three years ago.

Mortgage approvals up
Mortgage approvals are also up 41% compared to the same time last year according to AFG. Even the value of each of those mortgages is up a massive 37% showing that people are much more confident in the future than a year ago.

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