HomeMate.com.au

Australia’s housing market is showing signs of strong activity, spurred on mainly by bargain hunters and first-home buyers as sellers become desperate.

As new home project builders trim back their operations, and developers go into bankruptcy, some builders have their order books full because they have made a trend their friend.

Iconic Australian residential home builder and developer AV Jennings has recently made a $10 million first-half loss that could hasten the de-listing of the property giant.

New First Home Buyers incentive hurts second home buyers. Queensland general manager of Brisbane-based developer Devine Homes, Paul Nash, said second-home buyer demand has been sluggish, but when the $21,000 first-home owner’s grant was introduced in October, there was a pickup in first-home owner inquiry. First Home buyers charge petering out “We had a spike, [...]

Residential real estate property developer Australand Property Group has scaled back its development plans after posting an 85% slump in annual profit. Australand on Wednesday reported net profit for the 2008 calendar year fell to $40.16 million, from $269.23 million in 2007. It booked an unrealised loss from revaluations of $96.98 million and writedowns to residential [...]

Selling your home? A small quick profit is a good profit when selling. Last year a Gold Coast couple refused an offer of $14.5 million for their beachfront home development site. Last week they had to let it go for $9 million at auction as the financial crisis bites. The house on the Gold Coast’s [...]