Buying property

A Texas businessman has bought an iconic Dallas mansion for $1.8 million as a birthday present for his 16-year-old daughter.

For many Australians, the joy of Christmas time is generally accompanied by increased expenditure as people spend big on presents, socialising, travel and the like. And for those borrowers already having difficulty meeting mortgage repayments, unfortunately Christmas brings little relief — instead it can be a time of increased financial hardship and stress.

First-time buyers helped lift mortgage lending in October, according to housing finance figures released today by the ABS.

The best of celebrity real estate

The housing market is constantly in a tug-o-war between two factors – demand and supply. And really it doesn't get simpler than that. If there is a limited number of properties for sale and plenty of keen, cashed-up buyers then prices are almost certainly going to be bid up. Similarly if there is an abundance of property on the market and buyers are cautious – preferring to take time to find the 'right' home – then prices are more likely to ease.

The property market has hit a soft patch, with many adopting a wait-and-see attitude.

Soccer champion Harry Kewell has reportedly taken a $3,250 a week newly built Brighton rental property as his Melbourne base.

Tips for borrowing through your DIY super for property investment

Rat Island, a 10,117-square-metre rocky outcrop off the Bronx, New York, has been sold for US$160,000.

The first two of the six auction offerings that precede the October finale of the Channel Ten series The Renovators have been put to auction. The other four houses also face the auction reality test this week.