The Real Estate Institute of Victoria March quarter median prices confirm that the four successive interest rate increases over the last 8 months has had an impact on Melbourne house prices.

REIV CEO Enzo Raimondo said that the median price for a detached home in Melbourne in the March quarter is now $432,500, down 8.4 per cent from the December 2007 median of $472,250.

“Increasing interest rates, coupled with the changing economic conditions have affected confidence, transaction numbers and clearance rates all of which have combined to cool the market since the beginning of 2008. The first three months of 2008 has seen the residential property market return to a stable and sustainable level. It appears that the greatest impact has been in the more expensive suburbs of Melbourne during the quarter.”

This is highlighted by the fact that the most of the suburbs with the highest growth rates for the quarter are not in the inner city. For instance Berwick’s median increased by 13.6 per cent, Moonee Ponds by 8.3 per cent, Ringwood by 6.4 per cent and Pascoe Vale whose median increased by 6 per cent.

Regional Victorian centres have defied the trend in Melbourne over the quarter. Ballarat’s median increased by 2.1 per cent to $239,950, Bendigo’s increased by 5.3 per cent to $240,000, Geelong’s fell by 0.8 per cent to $325,000.

“It appears the RBA’s strategy has had the desired effect on residential property and any further increases should not be necessary in the short term,” Mr Raimondo concluded.

Quotable Value has released April’s figures for the New Zealand’s housing market. The average sale price of a house in New Zealand has decreased slightly to $388,465 (£152,339) from March’s $388,894 (£152,507). Property values have increased 4.9% over the calander year. New Zealand’s average house prices are not directly comparable with the UK’s because, unlike the UK, the average home in New Zealand is a detached bungalow.

QV spokesperson Blue Hancock said:

“Although the change in property values over the past 12 months is still positive at 4.9%, it’s interesting to look deeper into the figuresk. Most of this growth occurred in autumn last year, while values remained pretty flat through the second half of 2007. Over the first 3 months of 2008 we are beginning to see property values easing back over most areas of New Zealand. With property listings still high, buyer demand reducing and the typical slowdown through winter, we would expect this trend to continue and our monthly statistics will likely show declining values in the coming months.”

House Prices in New Zealand
Three Months Ending April 2008

* Assumed exchange rate is £1 = NZ$2.55

In seasonally adjusted terms, the number of people employed in New Zealand dropped by 29,000 (1.3 percent) in the March 2008 quarter, Statistics New Zealand reported. Employment has returned to levels seen early in 2007, and follows a record high in the December 2007 quarter.

Full-time employment decreased by 1.7 percent in the March 2008 quarter. This was driven by a decline in female full-time employment of 22,000 following an increase in the December quarter of 31,000. Male full-time employment decreased by 0.6 percent. Despite a small increase in female part-time employment over the quarter, total part-time employment decreased by 1.1 percent. This was due to a decline in male part-time employment of 4,000.

The number of people in the labour force decreased by 24,000 (1.1 percent) to 2,222,000 in the March 2008 quarter, while the working-age population grew by 10,100 (0.3 percent). This resulted in a decrease in the labour force participation rate of 0.9 percentage points to 67.7 percent. Both the male and female labour force participation rates declined in the March 2008 quarter to 74.6 percent and 61.1 percent, respectively.

In the March 2008 quarter the unemployment rate increased by 0.2 percentage points to 3.6 percent. The female unemployment rate increased by 0.4 percentage points to 3.9 percent, while the male unemployment rate remained flat at 3.4 percent.

The number of people unemployed increased by 4,000 (5.5 percent). The number of unemployed females increased by 3,000 to 40,000, while the number of unemployed males increased by 1,000 to 41,000 in the March 2008 quarter.

The unadjusted unemployment rates by ethnic group for the March 2008 quarter were: 8.6 percent for Māori, 8.2 percent for Pacific peoples, 6.0 percent for the ‘Other’ ethnic group and 3.0 percent for European.

America’s Hispanic population increased 1.4 million to reach 45.5 million on July 1, 2007, or 15.1 percent of the estimated total U.S. population of 301.6 million.

Estimates by race and age released today by the U.S. Census Bureau also show that the Hispanic population exceeded 500,000 in 16 states.

Hispanics remained the largest minority group, with blacks second at 40.7 million in 2007. The black population exceeded 500,000 in 20 states. Blacks were the largest minority group in 24 states, compared with 20 states in which Hispanics were the largest minority group

Blacks were followed by Asians, who totalled 15.2 million; American Indians and Alaska Natives, who totalled 4.5 million; and Native Hawaiians and Other Pacific Islanders, with 1 million. The population of whites totalled 199.1 million.

With a 3.3 percent increase between July 1, 2006, and July 1, 2007, Hispanics were the fastest-growing minority group. Asians were the second fastest-growing minority group, with a 2.9 percent population increase during the period. The white population grew by 0.3 percent during the one-year period.

Overall, America’s minority population reached 102.5 million in 2007 — 34 percent of the total. California had a minority population of 20.9 million — 20 percent of the nation’s total, Texas had a minority population of 12.5 million — 12 percent of the U.S. total.

Four states and the District of Columbia were “majority-minority” (i.e., more than 50 percent of their population is made up of people other than single-race non-Hispanic whites). Hawaii led the nation with a population that was 75 percent minority in 2007, followed by the District of Columbia (68 percent), New Mexico (58 percent), California (57 percent) and Texas (52 percent). Next in line, though not majority-minority, were Nevada, Maryland and Georgia, each with a minority population of 42 percent.

Details for the various groups:

Hispanics
California (13.2 million) had the largest Hispanic population of any state, followed by Texas (8.6 million) and Florida (3.8 million). Texas had the largest numerical increase between 2006 and 2007 (308,000), followed by California (268,000) and Florida (131,000). In New Mexico, Hispanics comprised the highest proportion of the total population (44 percent), with California and Texas (36 percent each) next in line.
The Hispanic population in 2007 had a median age of 27.6, compared with the population as a whole at 36.6. Almost 34 percent of the Hispanic population was younger than 18, compared with 25 percent of the total population.

Blacks
The black population increased by 1.3 percent, or 540,000, between 2006 and 2007. New York had the largest black population in 2007 (3.5 million), followed by Florida and Texas (3 million each). Georgia had the largest numerical increase between 2006 and 2007 (84,000), with Texas (62,000) and Florida (48,000) next. In the District of Columbia, the black population comprised the highest percentage (56 percent); Mississippi (38 percent) and Louisiana (32 percent) were next.
The black population in 2007 had a median age of 31.1, compared with the population as a whole at 36.6. About 31 percent of the black population was younger than 18, compared with 25 percent of the total population.

Asians
The Asian population rose by 2.9 percent, or 434,000, between 2006 and 2007. California (5 million) had the largest Asian population as well as the largest numerical increase during the 2006 to 2007 period (106,000). New York (1.4 million) and Texas (915,000) followed in population. Texas (44,000) and New York (33,000) followed in numerical increase. In Hawaii, Asians made up the highest proportion of the total population (55 percent), with California (14 percent), and New Jersey and Washington (8 percent each) next.
The single-race Asian population in 2007 had a median age of 35.4, compared with the population as a whole at 36.6.
Asians were the largest minority group in Hawaii and Vermont.

Whites
The non-Hispanic, single-race white population of 199.1 million represented 66 percent of the total population. California, New York and Texas had the largest population of this group (15.6 million, 11.6 million and 11.4 million, respectively), but Texas experienced the largest numerical increase (95,000), followed by North Carolina (92,000) and Georgia (57,000). Maine (96 percent) had the highest proportion of whites, followed by Vermont (95 percent) and West Virginia (94 percent).
The white population in 2007 was older than the population as a whole: The respective median ages were 40.8 and 36.6. About 21 percent of the population of this group was younger than 18, compared with 25 percent of the total population.

Potential homebuyers in New Zealand maybe choosing to remain long-term renters and so freeing up their savings for less volatile investments. Industry experts say even tenants who can afford a deposit and mortgage repayments are taking advantage of market conditions and enjoying a less stressful life.

Andrew King, from Auckland Property Investors Association, said in a report to the New Zealand Herald, that renting was “extremely good value” at the moment. He believed the number of long-term tenants had been rising for at least 18 months. King said maintenance, rates, and insurance cost landlords up to $10,000 a year, per property after tax - and that was $10,000 a tenant didn’t have to pay.

“Renting is a very cost-effective thing do to,” he said. “It’s not even just the cost of the maintenance, you also don’t have to do it, you can just ring the landlord.”

Tenants also had the freedom that comes with flexibility. They only have to give three weeks’ notice, while a landlord has to give 90 days notice, or 42 if they are selling. Tenants also have the protection of the New Zealand Tenancy Tribunal.

King said the doom and gloom surrounding the New Zealand housing market had seen more rental properties become available, especially in the last month. Finding properties weren’t selling for the price they wanted, homeowners have been renting them out while the market corrected. But King said the “slight oversupply” didn’t mean you were likely to get a rental property on the cheap, especially in Auckland. Some landlords, facing rising costs, were putting up rents by as much as 15 per cent, forcing some tenants to move.

Canadian home sales activity will remain strong in 2008 despite trending lower from record-level activity last year, according to a new residential forecast prepared by The Canadian Real Estate Association. Canadian home sales are forecast to ease 11.5 per cent to 460,900 units in 2008, and to ease a further 4 per cent the following year. Prices are forecast to set new records in every province this year and next, but price gains will be smaller than in recent years.

Canadian home sales are forecast to ease gradually in all provinces in 2008, but record-level activity in Saskatchewan and Newfoundland & Labrador during the first quarter will result in new annual records in these provinces. New listings are forecast to rise in all provinces. The gradual decline in sales activity combined with an increase in new listings will result in a more balanced resale housing market. The market is forecast to remain tightest in Saskatchewan and Manitoba, and as a result price increases there will be biggest.

The average price is forecast to rise 5.3 per cent in 2008 and a further 4.2 per cent next year, pushing prices to new heights. Price gains will become smaller as the resale housing market becomes more balanced.

Canadian Census data has showed an 11.1 percent increase in the median Canadian family income between 1980 and 2005. As a result of strong economic growth fostered by gains in employment, a further 2.1 percent increase was observed between 2005 and 2006, according to data from the Statistics Canada.

Families had an estimated median income after taxes of $58,300 in 2006, up 2.1 percent from 2005 in real terms. It was the third consecutive annual increase. In 2006, the increase was mainly the result of gains in both market income and government transfers.

The gain in after-tax income was shared by most family types, including senior families, those in which the main income earner was aged 65 and over, and younger, working-aged families. Senior families had a median after-tax income of $42,400, up 2.9 percent. Working-aged families had a median of $62,000, a 1.8 percent gain.

Both senior and working-aged family median after-tax income increased by roughly 18 percent in real terms since 1996.

Persons living alone or “unattached individuals” had a median after-tax income of $22,800 in 2006, up 4.6 percent from 2005.

Median incomes for Alberta families far ahead of other provinces

For the third consecutive year, families living in Alberta had the highest median after-tax income ($70,500), followed by those in Ontario ($62,400) and British Columbia ($60,300).

Alberta and Saskatchewan were the only two provinces for which the yearly change in after-tax family income was statistically significant. The median rose 7.0 percent in Alberta and 6.3 percent in Saskatchewan.

Median government transfers for families increased in three provinces: New Brunswick, Ontario and Alberta.

In Alberta, median government transfers doubled to $3,000 in 2006 from $1,500 in 2005. This large increase was generated by a one-time Energy Rebate program.

The uncertain interest rate environment over recent months in Australia has done little to improve housing affordability, especially for first home buyers. And while many economists are now tipping rates to remain steady, buying a first home still remains a daunting prospect.

According to the Real Estate Institute of Queensland (REIQ), while there are no short-term solutions to the current under supply of affordable housing in Queensland though Government housing affordability initiatives are all steps in the right direction.

“Buying your first home has never been easy; however there is evidence that a number of first home buyers are buckling down and finding a way into the market by buying in more affordable areas, investing in a unit or townhouse or buying with friends or family,” REIQ managing director Dan Molloy said.

REIQ figures show that the highest number of house sales in Queensland last year was in a suburb with a more affordable price tag. During 2007, there were more than 900 house sales - the most in the State - in Forest Lake, which also happens to have a median price of $355,000, about $100,000 less than the Brisbane median.

Other top selling suburbs across the State were Kirwan in the former Thuringowa shire with a median house price of $355,000; Kallangur in the former Pine Rivers shire at $311,950; and Deception Bay in the former Caboolture shire at $292,500.

“REIQ figures also show that 28 per cent of all house sales last year were for under $300,000 so it seems many people are reading the current economic signals and being more cautious about how much they spend on their first home,” Mr Molloy said.

The three most affordable suburbs in 10 out of 13 major regional centres across Queensland all had median house prices under $300,000 for the year ending December 2007, according to the REIQ. Mr Molloy said buyer demand had eased since Christmas in most Queensland residential property markets.

“There are signs that the market is returning to historical levels of enquiry and sales following last year’s very strong demand and price growth,” Mr Molloy said. “This has translated to an increase in stock levels. Consequently as buyers are being more selective, days on market have increased.”

In February, the average weekly Canadian earnings of all payroll employees (full and part-time) increased to $786.80. Compared with a year earlier, average weekly earnings were up 3.1 percent.

Among Canada’s largest industrial sectors, earnings rose 5.8% in health and social assistance, 2.6 percent in manufacturing, 2.5 percent in educational services, and 0.9 percent in retail trade compared with a year earlier.

Alberta (4.9 percent) and Manitoba (4.5 percent) posted the strongest year-over-year earnings growth among the provinces.

The average hourly earnings ($19.59) and the average weekly hours for hourly paid employees (31.1 hours) were unchanged from January.

Canadian Average Weekly Earnings By Province
February 2008

Canadian Average Weekly Earnings By Industry
February 2008

exchange rate used $1.00 = £0.51

Canadian resale housing activity declined in the first quarter of 2008 compared to the previous quarter while new listings reached their highest quarterly level ever, according to statistics released by The Canadian Real Estate Association (CREA). The result was the most balanced resale housing market of any quarter in the past nine years.

Seasonally adjusted Canadian sales activity declined 6.8 per cent to 117,051 units in the first quarter of 2008 compared to the fourth highest level on record, reached the previous quarter. It was the third consecutive quarterly decline since activity peaked in the second quarter last year.

Much of the decline in activity resulted from fewer transactions in Toronto during February and March. Sales activity in Toronto accounts for almost one fifth of all existing home sales in Canada. Fewer sales in British Columbia were also responsible for a significant share of the national decline in the first quarter.

Regional variations in the trend for sales activity persist. Seasonally adjusted sales activity set a new quarterly record in Saskatchewan, and quarterly transactions reached their second highest level ever in Newfoundland & Labrador.

The Canadian residential average price climbed 6.4 per cent year-over-year to $312,583 in the first quarter 2008. This is the smallest year-over-year price increase since the fourth quarter of 2001, reflecting a more balanced market.

Price gains did not become more modest in all provinces. In Manitoba and Newfoundland & Labrador, Canadian average house prices posted the biggest year-over-year increase ever in the first quarter of 2008.

In March, the Canadian average price was $314,279. That‘s a 4.8 per cent increase year-over-year – the smallest increase since October 2001.

“Resale housing activity is trending lower in the four most active provinces,” said CREA Chief Economist Gregory Klump. “Housing markets are becoming more balanced and price gains are becoming more modest as a result. This trend is forecast to continue, as rising mortgage carrying costs and property taxes erode affordability,” he added.

“The credit crunch has had limited impact on Canadian mortgage lending to date. Resale housing activity will continue to be supported by rising after-tax incomes, high employment, and declining interest rates,” said Klump.

Average House Price In Canada
March 2008

echange rate $1.00 = £0.51 GBP

The total number of jobs advertised in newspapers and on the internet declined by 0.7 percent in March to an average of 267,041 per week. This follows a 2.1 percent fall in February. The total number of advertisements in March remains 20.8 percent higher than 12 months ago.
Looking at the different channels for advertising jobs, the number of job ads in newspapers dropped by 10.5 percent in March to an average of 17,115 per week, the lowest number since October 1993. This followed a 0.1 percent drop in February. In trend terms, the number of newspaper job advertisements fell by 3.0 percent, to be 8.7 percent lower than a year ago.
The weakness in newspaper job advertisements in March was reflected in every state. New South Wales (-4.7%), Victoria (-6.2%), Queensland (-6.4%), South Australia (-10%), Western Australia (-7.2%), Tasmania (-13.3%) and the Australian Capital Territory (-10.4%) all experienced falls. The Northern Territory (-31.1%) experienced its largest monthly fall on record. In New South Wales, the number of newspaper job advertisements (4,835) is the lowest since December 1983, while in Victoria (3,750) the level is at its lowest since June 1993.
The number of internet job ads increased marginally by 0.1 percent in March to average 249,926 per week. In trend terms, internet job advertisements increased by 0.6 percent to be 24.1 percent higher than a year ago.
ANZ Head of Australian Economics, Mr Tony Pearson, said: “Total job advertisements have fallen for two months in seasonally adjusted terms. Trend monthly growth, which is a more reliable guide to movements in employment, has now been declining for four months and is at its lowest level since mid 2003. It is beginning to look as if employers’ demand for new recruits now waning after an extended period of very strong demand for labour. This is consistent with other indicators of economic activity which suggest domestic demand is now in the process of moderating under the weight of higher interest rates, lower share prices, and heightened concerns over decelerating global growth and global financial strains.”
“By region, signs of easing are now apparent in all states and territories with the strongest declines evident in Western Australia and Queensland,” Mr Pearson said.

The Adelaide rental vacancy rate has remained stable over the past month while the number of tenants in the market eased, the Real Estate Institute of South Australia (REISA) reports.

REISA President Robin Turner said metropolitan Adelaide recorded a vacancy rate of 1.8 percent in the month of March – down from 1.9 percent in February but up from 0.9 percent this time last year.

“Anecdotal evidence from property managers indicates that tenant demand for rental properties in Adelaide has levelled off in recent months as a result of higher rental prices,” Mr Turner said. “However, there are still a lot of high quality tenants in the market at the moment ready to snap up the right property when it’s listed.”

Mr Turner said the supply and demand in the local rental market had balanced out this year after Adelaide experienced extremely tight conditions in 2007.

“Properties that are in high supply – such as units and apartments in the city and Glenelg areas – have recorded higher vacancy rates in March and tend to be seasonal in demand,” he said. “These conditions offer a balance in the rental market for both investors and renters, but with the right price and location, any property will let.”

The REISA vacancy rate survey is broken down into six main areas. The statistics for March 2008 were:

• City – All city and North Adelaide only –4.03 percent
• West – Suburbs west of West Terrace, between Port Road and Anzac Highway– 1.90 percent
• South – Suburbs south of South Terrace, between Glen Osmond Road and Anzac Highway, including Glenelg suburbs – 2.14 percent
• East – Suburbs east of the city square, between Payneham and Glen Osmond Roads, excluding the Hills area – 1.64 percent
• North – Suburbs north of North Adelaide, between Port and Payneham Roads, turning into Lower North East Road – 1.15 percent
• Hills – Suburbs from Crafers to Nairne – 1.49 percent

Adelaide Top Performing Suburbs For Weekly Rents
March Quarter 2008

assumed exchange rate $1.00 = £0.48

Existing-home sales edged down in March, remaining within a narrow range of sales activity that has persisted since last September, according to the National Association of Realtors. Existing-home sales – including single-family, townhouses, condominiums – were down 2.0 percent to a seasonally adjusted annual rate of 4.93 million units in March from a level of 5.03 million in February, and remain 19.3 percent below the 6.11 million-unit pace in March 2007. Regionally, sales rose in the Northeast and West but fell in the Midwest and South.

Lawrence Yun, NAR chief economist, said the market is performing unevenly. “Though mortgage rates are at historically low levels, some borrowers are facing restrictive lending practices in declining markets,” he said. “At the same time, many buyers continue to bide their time with a large number of homes to choose from, while other potential buyers remain on the sidelines.”

The American median existing-home price for all housing types was $200,700 (£101,400) in March, down 7.7 percent from a year ago when the median was $217,400 (£109,800).

A mix of market conditions continues around the country, but areas showing healthy price gains include Des Moines, Iowa; Austin, Texas; and Durham, North Carolina.

Total housing inventory rose 1.0 percent at the end of March percent to 4.06 million existing homes available for sale.

Regionally, existing-home sales in the Northeast rose 2.2 percent to an annual pace of 910,000 in March, but are 18.8 percent below March 2007. The median price in the Northeast was $284,300 (£143,600), up 4.6 percent from a year ago.

Existing-home sales in the West rose 2.2 percent in March to a level of 940,000 but are 22.3 percent below a year ago. The median price in the West was $285,100 (£144,000), which is 14.7 percent lower than March 2007.

In the South, existing-home sales fell 3.5 percent to an annual rate of 1.92 million in March and are 20.0 percent below March 2007. The median price in the South was $167,200 (£84,400), down 7.1 percent from a year ago.

Existing-home sales in the Midwest dropped 6.5 percent to an annual rate of 1.16 million in March, and are 15.9 percent below a year ago. The median price in the Midwest was $152,600 (£77,100), down 5.3 percent from March 2007.

Spanish builders are tempting home buyers with free cars, mortgage holidays and hard cash as they try to lift the gloom shrouding the housing sector reports iht.com. Some companies are also diving into the rental market. At the annual property fair in Madrid last week, the number of promoters was down by a third from the previous year, many of them victims of the deepening housing crisis. With fewer buyers milling around models of whitewashed housing estates, there were fewer lines to see sales representatives.

“Since the end of the summer, movement in the market has been very, very slack,” said Javier Roca de Togores, managing director of Zapata, a promoter selling homes on the southern fringes of Madrid. “We have seen huge falls of around 70 or 80 percent.”

With prices of existing Spanish houses down by more than 4 percent since peaking in mid-2007 and the market still overvalued by up to 20 percent, according to the International Monetary Fund, some companies are shifting to rental properties.

Brokers say U.S. and northern European funds are snapping up coastal plots for 20 percent to 25 percent less than the asking price and new apartment prices, even in Madrid, are down 15 percent to 20 percent on average - a trend yet to show up in official price data.

As the rental market accelerates, these buyers may benefit.

Spain has built more than five million new houses in the past decade, taking the stock of existing homes to 24 million, because of economic growth averaging 3.8 percent, historically low interest rates and an influx of immigrants to cities and foreigners to the coastal regions.

Quotable Value has released March’s figures for New Zealand’s housing market. The average sale price of a house in New Zealand has decreased to $388,894 (£155,558) from January’s $393,240 (£157,296). Property values have increased 6.5% over the calander year. New Zealand’s average house prices are not directly comparable with the UK’s because, unlike the UK, the average home in New Zealand is a detached bungalow.

QV spokesperson Blue Hancock said:

“The market is continuing to soften, with more listings and fewer buyers leading to reduced demand. While some properties or localities are selling below previous expectations, other areas continue to hold up well”. Market sentiment continues to be negative and as we head into the winter months this is likely to continue.”

House Prices in New Zealand
Three Months Ending March 2008

* Assumed exchange rate is £1 = NZ$2.50

Statistics Canada has released detailed analyses of data from the 2006 Census on ethnic origin, visible minorities, place of work and mode of transportation. Each wave of immigration to Canada has increased the ethnocultural diversity of Canada’s population. In fact, more than 200 different ethnic origins were reported in the 2006 Census. In contrast, just about 25 different ethnic groups were recorded in Canada in the 1901 Census.

(Ethnic origin refers to the ethnic or cultural origins of the respondent’s ancestors. An ancestor is someone from whom a person is descended and is usually more distant than a grandparent.)

The list of ethnic ancestries in 2006 includes cultural groups associated with Canada’s Aboriginal people (North American Indian, Métis and Inuit), the European groups that first settled in Canada, such as the English, French, Scottish and Irish. It also includes origins reflecting immigrants who came to Canada over the past century, such as German, Italian, Chinese, Ukrainian, Dutch, Polish, East Indian and so on.

Among newer groups reported in 2006 were Montserratan from the Caribbean and Chadian, Gabonese, Gambian and Zambian from Africa.

By 2006, 11 ethnic origins had passed the 1-million population mark. The largest group enumerated by the census consisted of just over 10 million people who reported Canadian as their ethnic ancestry, either alone (5.7 million) or with other origins (4.3 million).

The other most frequently reported origins were English, French, Scottish, Irish, German, Italian, Chinese, North American Indian, Ukrainian and Dutch. These ancestries were either reported alone or in combination with other origins, reflecting the increasing diversity of the population.

Visible minority population surpasses 5-million mark
In 2006, an estimated 5,068,100 individuals who belonged to the visible minority population. They made up 16.2 percent of the total population in Canada.

(visible minorities are legally defined as “persons, other than Aboriginal persons, who are non-Caucasian in race or non-white in colour.”)

The visible minority population has grown steadily over the last 25 years. In 1981, when data for the employment equity-designated groups were first derived, the estimated 1.1 million visible minorities represented 4.7 percent of Canada’s total population.

In 1991, 2.5 million people were members of the visible minority population, 9.4 percent of the population. The visible minority population further increased to 3.2 million in 1996, or 11.2 percent of the total population. By 2001, their numbers had reached an estimated 3,983,800 or 13.4 percent of the total population.

Between 2001 and 2006, the visible minority population increased at a much faster pace than the total population. Its rate of growth was 27.2 percent, five times faster than the 5.4 percent increase for the population as a whole.

The growth of the visible minority population was due largely to the increasing number of recent immigrants who were from non-European countries. In 1981, 69 percent of all recent immigrants to Canada were born in regions other than Europe, and by 1991, this proportion had grown to 78 percent. The 2006 Census showed that 84 percent of the immigrants who arrived between 2001 and 2006 were born in regions other than Europe.

Consequently, the proportion of newcomers who belonged to a visible minority group also increased. In 1981, 56 percent of the newcomers who arrived in Canada in the late 1970s belonged to a visible minority group. In 1991, slightly over 7 in 10 recent immigrants were members of a visible minority group, and this proportion reached 73 percent in 2001.

Fully three-quarters of the immigrants who arrived between 2001 and 2006 belonged to a visible minority group.

If current immigration trends continue, Canada’s visible minority population will continue to grow much more quickly than the non-visible minority population. According to population projections, members of visible minority groups could account for one-fifth of the total Canadian population by 2017.

South Asians surpass Chinese as the largest visible minority group
The South Asians became Canada’s largest visible minority group in 2006, surpassing Chinese for the first time. The populations of both were well over 1 million.

The 2006 Census enumerated an estimated 1,262,900 individuals who identified themselves as South Asian, a growth rate of 38 percent from 2001. They represented one-quarter of all visible minorities, or 4 percent of the total population in Canada.

Tthe number of individuals who identified themselves as Chinese increased 18.2 percent from 2001 to 1,216,600 in 2006. Chinese accounted for 24 percent of the visible minority population and 3.9 percent of the total Canadian population.

The number of those identifying themselves as Black, the third largest visible minority group, rose 18 percent from 662,200 individuals in 2001 to an estimated 783,800. They accounted for 16 percent of the visible minority population and 2.5 percent of the total population in 2006.

Other visible minority groups included Filipinos, who represented 8.1 percent of the visible minority population, Latin Americans (6.0 percent), Arabs (5.2 percent), Southeast Asians (4.7 percent), West Asians (3.1 percent), Koreans (2.8 percent) and Japanese (1.6 percent).

Perth experienced a fall of almost 3 per cent on the median house price for the March quarter, according to figures released by the Real Estate Institute of Western Australia. The data shows a fall of 2.7 per cent on the median price, pulling it down from $470,000 at the end of last year to around $457,000.

REIWA President Rob Druitt said the retraction in price was caused by a combination of factors including interest rate rises, a drop in overall consumer confidence and a record number of listings now on the market. “Some of this price reduction can be attributed to a small increase in the number of properties being sold at the more affordable end of the market at the expense of premium sales which have slowed. This has skewed the results a little,” Mr Druitt said.

“More importantly, given the flatness in much of the local real estate market following the boom, many investors are withdrawing from Perth property and putting their homes up for sale. This has seen the number of listings grow from around 5,000 to more than 17,000 in just 18 months, flooding the market with choice and giving buyers more competition and more leverage in negotiating on price,” Mr Druitt said.

The REIWA data shows listings have reached 17,600 properties up for sale, including more than 2,400 blocks of residential land, many of which are likely being offloaded by speculators. Mr Druitt said the overall number of selling days had also increased, stretching by six days to 71 days, between a home being listed and a contract for sale being secured.

Mr Druitt said that despite the record number of listings, he was confident the pent up demand from would-be buyers would soak up much of the excess throughout 2008.

“As the population continues to swell on the back of a strong economy, many people have been keenly waiting and watching for the right time to buy. Now, with interest rates on hold and possibly coming down shortly, and property prices rationalising to a more afford able level, we are likely to see some renewed buyer activity in the market. However, until we see a return in buyer confidence we are unlikely to see any significant price growth in the Perth market,” Mr Druitt said.

A study published by Statistics Canada provides insights into the changing fortunes of immigrants in Canada by focusing on the volatility of their earnings. Earnings volatility, or earnings instability, refers to year-to-year deviations of individual annual earnings from the average earnings of this individual in a given time period.

The study found that instability in earnings for immigrants usually declines substantially after they have spent several years in Canada. This is consistent with the view that during the first several years in Canada, immigrants move more frequently from one job to another, or have part-time or temporary jobs. As they gain experience in Canada, immigrants are likely to find more stable employment.

The study is also the first to compare the earnings instability of immigrants who arrived in Canada in the 1980s with that of immigrants who arrived in Canada in 1990s. For example, based on the earnings in the four years after landing, the earnings instability of immigrants who came to Canada between 1998 and 2000 was substantially higher than the earnings instability of those who came to Canada between 1980 and 1982.

It was also higher than the earnings instability of those who came to Canada between 1983 and 1985.

Another finding concerns the impact of business cycles on earnings instability for immigrants. While instability generally decreased during the first several years in Canada, it rose rapidly during the recession years in the early 1990s and fell in subsequent years.

Although almost all cohorts in the sample were affected by the recession in the early 1990s, the timing of its impact relative to the entry varied from one cohort to another. This made the comparison of the earnings instability of immigrants who arrived in Canada before and after the recession more difficult.

In the past, immigrants who came to Canada in their 40s had higher earnings instability than young immigrants. However, the earnings instability of young immigrants who came to Canada in the late 1990s was almost as high as the earnings instability of immigrants in their 30s and 40s who came to Canada during the same period.

The study found that earnings inequality rose among recent immigrants over the last two decades, consistent with previous studies that documented the evolution of earnings inequality for all Canadian workers.

Although foreign education, the ability to speak one of the official languages and birthplace accounts for a large part of immigrants’ earnings inequality (up to 44% depending on the cohorts considered), much of it remains unexplained by these factors.

The birthplace of immigrants seems to have had a stronger impact on earnings inequality than other factors considered in the study, such as foreign education and ability to speak English or French.

Census data showed that workers were commuting farther to work in 2006 than in 2001, and a slightly decreasing proportion were driving their car to work. The median distance travelled by workers to their place of work in 2006 was 7.6 kilometres, up from 7.2 kilometres in 2001 and 7.0 kilometres in 1996. (The median is the point at which half are above, and half below.) Workers in Ontario had the highest median distance in 2006 at 8.7 kilometres.

Mode of transportation
Despite an increase in number of drivers, a lower proportion were driving to work. The census found that 14,714,300 people in the employed labour force commuted to their place of work, a 9.4 percent increase from 2001.

The vast majority, an estimated 10,644,300 workers, drove to work in a car, truck or van. That was a 7.2 percent increase from 2001, the equivalent of 714,900 more drivers on the road across Canada. However, this increase was well below the gain of just under 1 million between 1996 and 2001.

Despite this growth, the proportion of workers who drove to work declined from 73.8percent in 2001 to 72.3percent in 2006.

Upward trend among workers travelling as passenger or using public transit
The 2006 Census found that 1,133,200 workers travelled to work as a passenger in a car, up 22.6 percent from 2001.

An estimated 1,622,700 people usually travelled to work on some form of public transportation, such as bus, streetcar, subway, light rail transit, commuter train or ferry, a 15.4 percent increase. Over the five-year period, the proportion that took some form of public transit increased from 10.5 percent to 11.0 percent.

The rest, an estimated 939,300, walked to work, up 6.6 percent, and 195,500 bicycled to work, a 20 percent increase.

Data showing that population growth in the Richmond-Tweed region has been faster than any other part of New South Wales in the past two years is evidence that Australians are prepared to move in search of a better lifestyle according to the Real Estate Institute of New South Wales (REINSW). It also accords with the latest property prices released by the Institute, which show house prices in the area grew 11 percent in the last quarter - among the highest of any regional location.

Recent ABS figures show population growth in the region outstripped the rest of NSW in 2006-2007 to record a 1.3 percent increase. Sydney - the destination of the booming numbers of migrants coming to Australia - grew 1.1 percent, the highest figure since 2000-2001.

“The jump in the Richmond-Tweed area is due to more than natural growth,” said REINSW President Steve Martin. “The NSW-Queensland coast has always been associated with an enviable lifestyle.

“People are drawn to the area by the beaches, beautiful weather and the increasing employment opportunities offered in the Byron Bay area and across the border on the Gold Coast. Our agents tell us that homes that were selling for $350,000 two years ago are now going for around $100,000 more.”

“Part of the reason for the growth has been the opening of the eight lane highway linking northern NSW with the Gold Coast. As the numbers show, people now see the opportunity to pack up their old lives and move north in the expectation that they will be within reasonable access to jobs.”

“If there are any problems with this region it is that there is a shortage of land available for property development so demand is exceeding supply.”

Following two months of large gains, employment edged up slightly in March (+15,000). A surge of entrants into the labour market caused the unemployment rate to move up 0.2 percentage points to 6.0 percent. Canada’s participation rate reached a new record high of 68.0 percent in March. Over the past 12 months, Canadian employment grew by an estimated 1.9 percent.

Part-time employment was up in March (+34,000), the largest increase in part time since November 2006. Over the past 12 months, full-time employment has grown at almost twice the pace (+2.1 percent) of part-time work (+1.1 percent).

Alberta and British Columbia were the only provinces with notable employment gains in March. These provinces also set new records, as British Columbia’s employment rate reached a high of 64.0 percent, and Alberta’s participation rate hit 74.7 percent, the highest of any province.

In March, employment gains were posted in transportation and warehousing and natural resources, with losses in information, culture and recreation.

Employment in the transportation and warehousing industry rose by an estimated 20,000 in March, offset by losses in information, culture and recreation (-24,000). Over the past 12 months, employment in transportation and warehousing has risen 5.1 percent with gains mostly in Ontario and Quebec.

Employment edged up in natural resources in March, after a dip over the previous two months, leaving this industry unchanged from one year ago.

Over the March 2007 to March 2008 period, employment in the goods-producing sector was little changed, as gains in the construction industry were offset by manufacturing losses. At the same time, service sector employment grew by 2.4 percent, with public administration; professional scientific and technical services; health care and social assistance as well as transportation and warehousing adding the most workers.

Private sector leads quarterly employment growth
Over the first quarter of 2008, employment growth among private sector employees was stronger than that of the public sector. The growth among private sector employees was driven by gains in professional, scientific and technical services and construction. Self-employment fell in the first quarter of 2008.

Employment gains in the West
British Columbia led employment gains in March with an estimated increase of 15,000, pushing the employment rate to a new record high of 64.0 percent. Employment gains were widespread across several industries. With higher participation, the province’s unemployment rate edged up 0.2 percentage points to 4.3 percent in March. Over the last 12 months, employment in British Columbia was up 55,000 (+2.4 percent), with half of the gains in construction.

Alberta
In March, Alberta added 10,000 workers, pushing the province’s employment level above the two million mark for the first time. Alberta leads the country’s 12 month employment growth (+3.4 percent), with strength in both the goods and the service sector. The March unemployment rate of 3.4 percent remains the lowest in Canada.

Employment paused in Ontario following a strong February
Following a strong February, Ontario’s employment was unchanged in March as gains in part-time employment (+23,000) offset losses in full-time work (-25,000). The province’s unemployment rate edged up 0.3 percentage points to 6.4 percent in March, the result of a boost in the labour force. Over the past 12 months, employment has risen by 1.8 percent, driven by gains in educational services; public administration and business, building and other support services.

Quebec
Employment in Quebec was also little changed in March, while the unemployment rate increased by 0.3 percentage points to 7.3 percent. Over the last 12 months, employment has risen 1.5 percent in the province, with the largest gains in construction and professional, scientific and technical services industries.

Strongest growth among older workers
In March, employment among older workers (55 years and older) increased by 24,000, building on the strong gains of the past year. Older workers have shown the fastest employment increase of all age groups over the past 12 months, with an annual growth rate of 7.8 percent, well above the 0.9 percent for core-aged (25 to 54 years) workers.

Living the good life next door to a golf course, and the allure of waterfront property, help explain the top performing suburbs in Queensland last year. The latest Real Estate Institute of Queensland (REIQ) figures show that when it came to house price growth in 2007 you couldn’t go past the Brookwater golf community. Median house prices in the Ipswich suburb increased 62.8 percent to $590,000 (£270,500) in the 12 months to the end December.

“While Brookwater’s median over the year was affected by varying quality of stock sold - including new properties - the result reflects the desire of many people to live in a new suburb close to all facilities, and of course, the Greg Norman-designed golf course doesn’t hurt either,” REIQ chairman Peter McGrath said.

Coming in at number two for houses was Calliope, 20km Southwest of Gladstone, with its median up 56 percent to $352,500 (£161,500). The suburb is benefiting from its seaside location as well its proximity to resource-rich regions.

Number three was Pioneer in Mt Isa - the top performer last quarter - with a median house price increase of 53.7 percent to $315,000 (£144,500) in the 12 months to the end of December. Together with other mining suburbs in the Top 10, Pioneer continues to perform well due to the strength of Queensland’s resources sector.

When it comes to units and townhouses, six of the top 10 performing suburbs for last year were located in Noosa. While this can be partly attributed to the number of waterfront properties sold as well as new developments it just goes to show that you just can’t beat prime locations.

Top of the Noosa, and Queensland, performers was Peregian Beach - located south of the busier, pricier Noosa Heads - with its median unit and townhouse price increasing 98.7 percent over the year to $377,500 (£173,000).

“While the number of new properties and waterfront properties sold helped Peregian Beach come out on top, it is benefiting from its coastal location and a median price substantially lower than the more famous Noosa Heads.”

Number two for units and townhouses in Queensland was Milton, an inner city suburb of Brisbane. The suburb’s median increased by 90.4 per cent to $695,000 (£319,000) over the year due to a number of new properties and properties with water-views sold over the period.

And rounding out the top three for units and townhouses was Eagleby, previously in the Gold Coast, but now part of the Logan Shire. The suburb’s median is up 88.8 percent to $260,500 (£119,500). With housing affordability continuing to decline, Eagleby is continuing to benefit from its extremely affordable price tag.

Real Estate Institute of Victoria CEO Enzo Raimondo said that the rental vacancy rate in Melbourne had dropped below 1 per cent for the first time on record in February. “A rental vacancy rate of below 1 per cent is unprecedented and it increases the urgency for governments to take action to increase public and private investment in rental stock.”

Across Melbourne there are 447,074 rental homes and a 0.9 per cent vacancy rate means around 4020 properties are vacant. Within 4 km of the CBD it is even worse with a mere 0.5 per cent of rental homes vacant.

“We believe that a balance between supply and demand is found with a vacancy rate of around 3 per cent. The fact is that inadequate supply of rental properties is pushing rents up,” Mr Raimondo said.

“This shows that it is time to increase financial incentives to private investors and increase the amount of housing that is available. The Federal Government has taken a good first step with its subsidy for affordable rental properties and we would welcome the State Government playing a strong role to help fix the problem as well. This is a serious concern, especially for people that are looking for suitable accommodation and we would request that government’s take immediate action to alleviate this problem,” Mr Raimondo said.

Ex-pats living in Spain are being recruited and trained to work as remote telemarketing staff for English businesses because there is a shortage of suitable candidates in the UK. Call centre staffing company Sensée has hired 10 sun-soaked British workers as telesales agents for Sense On Hold (SOH), a UK-based company providing marketing to callers while they are waiting on hold. The agents will never meet their new bosses at SOH, as all elements of recruitment and training take place online.

The move reflects the growing number of employers using mobile workers for traditional, office-based jobs. Steve Mosser, managing director of Sensée, told Personnel Today: “The idea behind recruiting ex-pats is that it doesn’t matter where you are to do this job, as long as you fill certain criteria. The application process is online, so we don’t ever meet the employee. Interviews and training are conducted over the web, and when they reach a certain grade, we match the skills of the person to the employer.”

Working from home, the agents will call UK businesses to sell SOH services and set up appointments. The type of work makes it easy to measure individual performance, according to Mosser, as employers can track how many appointments and calls they make. Hiring candidates remotely costs approximately £400 per employee, compared to £4,000 per employee when recruiting in the traditional way.

“We wait the longest time possible before having to make human contact with them, which brings huge HR savings in recruitment and training,” he said.

SOH said it had won more than 60 new contracts in the past six months since working with Sensée telemarketers.

Australia’s capital cities experienced strong population growth in the 12 months to 30 June 2007, according to population estimates released by the Australian Bureau of Statistics (ABS). The population growth rate for all capital cities combined in 2006-07 was the highest recorded for several years. The total population of all capital cities grew by 1.6 percent in 2006-07, compared to an average growth of just 1.3 percent for the five years to June 2007.

Melbourne experienced the largest population growth of all Australian capital cities, increasing by 61,700 people in 2006-07, followed by Sydney (52,000 people). The fastest growing capital city was Darwin (2.6 percent).

Fast growth in inner cities

The inner city of Perth was the fastest growing of all with a 9.1 percent increase in population during 2006-07. Other inner-city areas to grow significantly were Melbourne and Adelaide.

Growth along the coast

Excluding capital cities, the most prominent population growth in 2006-07 continued to be along the coast of Australia. Costal Queensland continued to experience large growth, particularly the Gold Coast.

Developments associated with the resources sector may have contributed to the four fastest growing coastal areas in Australia, these being Ravensthorpe, Capeland Broome in Western Australia and Weipa in Queensland.

State/Territory highlights

New South Wales
The state’s 2006-07 growth rate of 1.1 percent was its highest since 2000-01. Sydney grew by 52,000 people in 2006-07. Outside of Sydney, the fastest growth rates occurred along the New South Wales coast in Richmond-Tweed and Hunter.

Victoria
Melbourne’s growth of 61,700 people was the largest of all the Australian capital cities 2006-07. The fastest growing areas were Wyndham and Melton in the outer suburbs of the Melbourne and inner city Melbourne. Outside Melbourne the fastest growing areas were Surf Coast, Mitchell and Bass Coast.

Queensland
The population of Brisbane surpassed the population milestone of one million during 2006-07, to reach 1,010,000. Of all suburbs in Australia with a population greater than 2,000 as at 30 June 2006, the three fastest-growing were in Brisbane, namely Wakerley (22.0 percent), City-Inner (21.2 percent) and Griffin-Mango Hill (20.2 percent). Gold Coast recorded the largest population increase of all local areas in Australia, up 17,200 people. The mining town of Weipa continued to be Queensland’s fastest-growing non-city area.

South Australia
South Australia’s growth of 16,300 people in 2006-07 was its largest since 1974-75. The inner-city of Adelaide had the fastest population growth 2006-07. Whyalla recorded its largest annual population increase (280 people) for more than 30 years.

Western Australia
Western Australia had the fastest population growth of the states and territories of Australia in 2006-07. The inner-city of Perth had the fastest population growth in the Perth. Rapid growth in the Kimberley, Pilbara and South Eastern districts can be partly attributed to development associated with the expansion of the resources sector in these districts.

Tasmania
Tasmania’s resident population grew by 0.7 percent in 2006-07 as it had in the previous two years.
The Greater Hobart-Southern region increased its share of the state’s population, while the share in Mersey-Lyell SD continued to decline. Brighton, Sorrell and Latrobe were the fastest-growing areas in Tasmania for the second year running.

Northern Territory
Darwin was the fastest-growing capital city in Australia in 2006-07. Palmerston recorded the largest growth of all Northern Territory areas.

Australian Capital Territory
The population of the Australian Capital Territory increased by 5,600 people in 2006-07, which was its largest annual increase since 1990-91. Population growth was largest in the northern suburban fringes of Canberra, particularly in Harrison and Gungahlin.