Top 5: Finance & property quotes week commencing September 15

By the resi financial blog team, 22 September 2014

The weekly top 5

Australia's property market has seen some interesting changes over the last week, with a number of sector experts commenting on past, present and future circumstances. Here are some of the top comments in the media:

#1. Chief Economist of Master Builders Australia Peter Jones commenting on the latest Australian Bureau of Statistics (ABS) figures in a September 19 statement: "The latest figures released by the ABS show that more than one million people are employed in the building and construction sector, 1,028,500 in original terms. Overall, industry employment is being driven by the recovery in residential building and before the full impact of the downturn in mining-related engineering construction takes effect.

"Across the nation, New South Wales was the stand-out performer. Industry employment growth through the year to August was up 29,000 or 10.1 per cent - the third consecutive quarter of 300,000 plus levels of building and construction employment. It's a record result, only twice before has the 300,000 mark been breached."

#2. Real Estate Institute of Victoria Chief Executive Officer Enzo Raimondo commenting on the strengthening Melbourne market in a September 20 statement: "Private sales are an important indicator of the strength of the Victorian property market. While Melbourne is known as Australia's auction capital, the majority of property sales in both the city and across the state are private sales.

"Generally, a shorter time on the market reflects a stronger market." 

#3. Real Estate Institute of Western Australia President David Airey commenting on Perth's growing million-dollar-plus market in a September 18 statement: "Current Landgate data shows that sales of between one million and two million dollars accounted for 8.2 per cent of houses and 3.4 per cent of apartments, which pulled many more suburbs into the million dollar club. Six suburbs are completely new to this list while others have returned from previous years after being absent in 2012-13." 

#4. Minister for Planning Pru Goward commenting on plans to boost New South Wales' Central Coast environment for future generations in a September 19 statement: "The Central Coast is a great place to live and raise a family, but there are real challenges we need to address if the community is to harness the region's full potential. We know that more than a quarter of local workers travel outside the Coast to Sydney and the Hunter for work, and about 70 per cent of these people are forced to travel because there is no work for them close to home.

"There are about 22,000 businesses on the Coast employing more than 130,000 people. Population projections show that over the next 15 years the region will need more than 30,000 additional jobs."

#5. Real Estate Institute of Queensland Acting Chief Executive Officer Antonia Mercorella commenting on the strengthening South East Queensland property market in a September 13 statement: "Million dollar sales in the unit market also strengthened, with preliminary sales numbers across Queensland up around 10 per cent. The strongest performing sectors of the Brisbane house market were at opposite ends of the spectrum, with increases in the sub-$350,000 and $1 million price brackets helping the city to its fifth consecutive quarter of growth.

"On the Gold and Sunshine Coasts, sales activity remained relatively stable over the quarter amid rebounding confidence in both markets. The Gold Coast median house price rose three per cent to $515,000 over the June quarter, with median prices on the Sunshine Coast up 0.2 per cent to $468,000." 

Categories: Weekly top 5