Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Australians 'making greater use of big homes'

The latest data from the ABS reveals several things about the property market, a CommSec economist has claimed.

The disappointing data from the Australian Bureau of Statistics (ABS) on Australian property approvals indicates the market is under a degree of pressure, a CommSec economist has claimed.

However, Savanth Sebastian told the Sydney Morning Herald that pending rate cuts could offer a boost to the housing sector and increase sales across the country.

He added that construction looked to have been affected by the fact that more Australians are renting out rooms in their homes or living together in larger family units.

"For the first time in a century the number of people per dwelling has been rising and this trend most likely continued over the past 12 months,'' said Mr Sebastian. 

He was responding to the latest ABS figures, which show that the number of dwellings approved dropped by one per cent in the December quarter of 2011 despite a ten per cent rise in the previous quarter.

Posted by Ravin Chatlani

- ABS, rates, interest, approvals, housing, property, units, rent

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now