The Australian Bureau of Statistics has released  the latest version (v1.2) of it’s informative “ABS Stats” Mobile App, now  available from the App Store for iPhone, iPad and iPod Touch devices. This  versatile data App was recently a finalist in the “2013 Excellence in Government Awards” for Service &  Delivery.

 The  App is extremely useful for  assessing demographics in relation to property buying for owner-occupiers and  investors alike. It essentially provides a snap shot of an area and compares it  to other areas you may be more familiar with, allowing the user to assess how  the demographics compare and how that changes the infrastructure and services  available.

The ABS Mobile App offers four categories of data & information:

Key  Indicators:
With access to 33 key economic indicators  including CPI, GDP and unemployment updated constantly as new data becomes  available, this category will assist with making better purchasing  decisions.

Census  Data:
Providing the most up-to-date data about people,  families and dwellings in postal zones and Commonwealth electoral divisions  helping to detail specific information about any area you may be considering  purchasing in.

 Population:
This option allows you to view population growth in a specific area with real time updates and calculates projections in forward time.

 The ABS Stats mobile app is available for download from the iTunes store  for free.

Many experts are predicting the conclusion of our upcoming federal election will see a rekindling of consumer confidence and potentially kick-start our sluggish economy. Read this interesting housing data from the RP data research blog  

 The future of the Australian housing market in  particular is looking up with signs of a recovery in the residential sector  already underway, Especially in Sydney. Opinions are positive, most notably in  respect to the east coast residential market with Brisbane, the Sunshine and  Gold coasts, Sydney and Melbourne all predicted to experience residential  upturns.

Several factors have been identified that support this growing opinion. An undersupply of new housing stock has been referenced, especially in Queensland and NSW. Each of these states shares respectively 21% and 25% of the overall Australian market.

Declining interest rates have played a marked role in the perceived recovery. Once the election period is over, investors are tipped to seek opportunities alternate to money in the bank and the associated declining interest returns.

As housing prices recover and continue to  increase more Australians are expected to be attracted to the tax advantages of property ownership. Figures indicate that the current price of Australian property is some 20% cheaper than it was as little as six months  ago.

A recent influx of overseas buyers has also been  associated with signs of a recovery. A recent NAB survey showed that foreign buyers of new Australian properties have doubled in the past two years.

Population growth supports the notion of recovery as demand increases. Last year alone around 400,000 people were added to the Australian population. Our rate of population growth has increased 25% in the past two years.

A number of other key factors support the belief of a residential market recovery including; lower volumes of stock listed for sale; less private treaty discounting; reduced listing times for property on the market and increased sales volumes.

Consumer confidence above all else has been essential, and an ingredient for recovery that has been missing for some time.  Several successive rate cuts, along with easing of loan restrictions and  improved affordability have raised consumer confidence and directed sentiment towards purchasing residential property.