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  1. #1

    Default Australian Employment and House Prices

    The recent Labour force release from the Australian Bureau Statistics reported that the
    Unemployment rate decreased from 5.0% to 4.9%. What does this mean for house price inflation? see more on http://wp.me/pTU04-7v

    Are affordability issues out weighing low unemployment levels



  2. #2
    Join Date
    Nov 2011
    Posts
    448

    Default

    As a recent update of the employment rate in OZ, Australia's unemployment rate is now at 5.2 per cent from October 2011. Therefore, it rose since early 2011

  3. #3

    Default

    Quote Originally Posted by mattinvestor View Post
    As a recent update of the employment rate in OZ, Australia's unemployment rate is now at 5.2 per cent from October 2011. Therefore, it rose since early 2011

    I went to a property research session and the said the unemployment is not the only determining factor on house affordability. It's the number of people employed.

  4. #4

    Default

    Employment/Unemployment affects housing market, but i think the impact of a drop of 0.1% is negligible.

  5. #5
    Join Date
    May 2013
    Location
    Queensland
    Posts
    33

    Default

    Employment and wages, the average wage can't afford to buy the average house.

  6. #6
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,428

    Default

    Australia is so huge that the left side is totally different from the right side and the top wouldn't recognise the bottom. I can't see how cumulative stats apply here.

  7. #7

    Default

    You're right tan. Australia is so big each state has it's own cycle. Compiling it together is almost meaningless. To be fair we need to look at whose has recently lost their jobs to see what the market might look like. Sydney n Mel are losing bankers so likely top end property price will lose out. Here hoping

  8. #8

    Default

    My indian friend was in Australia for degree and he couldnt get a job over here. Sadly he had to return back to India.
    unemployment is going too far now

  9. #9

    Default

    The decrease of employment rate may increase the prices of properties in some areas. However, the data won't reflect the property market soon, it will take time and even if the price rises, it might be a little fraction that most small investors won't even notice!

  10. #10
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,428

    Default

    Prices are dropping like a stone here. A house that rented for over $2000 per week is now renting for around $1400 and it's dropping weekly. Unfortunately the cheapest rent is still $450-500 so my rent remains the same.

    Houses have generally sold at around 10% yield so you can imagine how sales have been affected, not that much is selling lately.

    The Government will be happy as that is what it wanted, but not for the reasons it has.


 

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