New Car Sales Hit Record High - Australia Car News

Sales of new motor vehicles jumped by the most in five months in August to reach their highest on record, a sign consumers have the confidence to splash out on big ticket items.

Government figures out this morning show new vehicle sales rose by a seasonally adjusted 3.6 per cent in August to 93,379, following a revised 1.1 per cent decline in July. Sales were up 6.4 per cent compared with August last year.

Sales of sports utility vehicles extended their meteoric run with an increase of 4.3 per cent to a fresh all-time high of 26,452. Sales of passenger vehicles rose 4.7 per cent, while sales of other vehicles, including trucks, edged up 0.4 per cent after a very strong result in July.

The robust vehicle numbers contrast with softness seen in retail sales for July and suggest consumer spending is not as weak as some fear.

Industry data out earlier in the month showed Toyota retained first place in the sales ladder with 19.2 per cent of the market in August.

Holden held second spot with 12.0 per cent. Hyundai and Ford tied with 8.3 per cent, while Mazda took 8.2 per cent.

Australian Capital Cities: Where's Hot, Where's Not

DARWIN was Australia's best-performing capital city for property values during the past quarter - up 5.2 per cent - and showing year-on-year growth of 4.2 per cent, according to the latest figures from RP Data.

The RP Data-Rismark August Hedonic index shows Adelaide is the weakest performing capital city, with the change in dwelling values sliding 2.2 per cent during the past three months.

The monthly figures were more optimistic though for Adelaide, showing 1.4 per cent growth for August.

Sydney and Melbourne both recorded only 0.1 per cent growth for the month, but are performing better for the quarter, at 2.4 per cent and 2.5 per cent respectively.

RP Data research director Tim Lawless, said the figures showed a flat winter season that could be the foundation of a strengthening Spring.

Combined with the lowest transaction levels since the late 1990s, prices could also soon be expected to drift upwards after years in the doldrums.

"Spring is going to be better than last year,” Mr Lawless said.

"This is the first time that we have seen total listings across the capital cities the same as they were last year.”

Mr Lawless said lower listing levels were good news for vendors because it meant there was not as much choice in the market which could improve prices.

"In November last year, the listings were 30 per cent higher than they are now,” Mr Lawless said.
"They are currently only 0.5 per cent higher than last year, which means that we have a good benchmark level."

From a supply perspective, it’s a sign that there aren’t as many homes on the market at the moment and that means homes are selling a bit faster and vendors discounting a little less but transaction numbers stabilising.”

Mr Lawless said transaction volumes were at their lowest since 1998 - and were currently lower than during the Global Financial Crisis.

"At the moment based on June data, transaction volumes are 7 per cent lower than the same time last year,” Mr Lawless said.

"We’re averaging 30,000 sales each month and that’s fairly steady across 2012.”

But the lack of stock was being treated calmly by potential buyers who are showing patience about finding exactly the right home.

"A lot more people are attending local houses and showing interest in the market place but there is still not a level of urgency that will push buyers into making a purchase decision rapidly,” Mr Lawless said.

“Purchase decisions won’t be rushed, buyers are playing vendors off against each other and are negotiating pretty hard.”

Figures from the data showed:

- Hobart prices grew 3.9 per cent for the year to date
- Sydney prices grew 1.9 per cent for the year to date
- Darwin prices grew 8.4 per cent for the year to date
- Brisbane prices grew 0.6 per cent for the quarter
- Perth prices lifted just 0.2 per cent for the quarter

No Grounds To Give Up Coffee - Coffee Price Comparison Australia

HOBART coffee lovers are paying up to $1 more per cup of takeaway cappuccino than those in Sydney.

Local prices are also on par with Perth, which has taken the mantle of the most expensive major city interstate, new statistics reveal.

But local barristas say their customers base their decisions on their tastebuds not their wallets.

A recent survey by Gilkatho, a coffee machine retail company, has found the average price for a takeaway cappuccino in Australia's major capital cities varies from $3.36 in Melbourne to $3.87 in Perth.

A Mercury survey of Hobart coffee shops yesterday showed prices were all generally above the $3.47 national average.

Prices for a regular takeaway cappuccino in Hobart varied from $3.50 to $4.35.

Doctor Coffee owner Craig Gibson said yesterday there was a number of reasons why coffee can be more expensive in Tasmania.

Transport costs were a big reason, he said.

"A lot of our coffee comes from Melbourne, where a lot of the good speciality roasters are based," he said.

Mr Gibson said most of his customers were not shopping on price.

"Ninety nine per cent of our customers come here because of the quality," he said.

Di Bella coffee managing director Phillip Di Bella said yesterday it costs about $1 in ingredients to make a cup of coffee and $2 including labour.

"As labour is the main cost in making a coffee and pay rates vary from state to state, this can change the cost to make a coffee considerably," he said.

"Rents also vary depending on the location of the cafe, city and space."