After hearing Real Estate agents and Property Investors for years say, House prices only go up – the opposite has happened : Rising interest rates have had a significant impact on Melbourne’s property prices in the past three months. The median house price dropped 8.4 per cent – the biggest …
INFLATION has leapt to a 16-year high and is accelerating towards 5 per cent, raising the chance of further interest rate increases. The Reserve Bank of Australia was braced for a bad inflation figure, but the 4.2 per cent jump in the headline figure for the year to March surpassed …
ROBERT Shiller, the Yale University economics professor who accurately predicted the top of the internet boom, said today there is a good chance that residential property prices will fall further than those sustained during the Great Depression, when home values fell by 30 per cent. » US home-price fall may …
NOT only is mortgage stress on the rise, but up to one in five stressed households will lose their homes, according to analysis of mortgage stress data. As well, borrowers who refinance are more than twice as likely to ultimately lose their houses. The findings are contained in Anatomy Of …
FOR more than 50 years the average Australian was able to buy their first home on the average wage. Traditionally, the median house price was about three times the median household income. Today, in Adelaide, Melbourne and Brisbane, the median house price is more than six times the median income; …
An Auckland couple lost 83 per cent of their investment when they sold a property in one of the city’s best urban precincts. As the gloss goes off the Auckland housing market, the Mt Albert pair, who paid $349,000 three years ago for a Beaumont Quarter apartment, have sold it …
In October 2006, we reported US house prices were plunging at the fastest rate in 36 years. Now it’s the UK’s turn. House prices are falling at their fastest rate since records began 30 years ago as the mortgage lending freeze continues to undermine the housing market, the Royal Institution …
NOW THAT the season of finger-pointing over the home-loan crisis is in full swing, it’s a good time to take a look at how “house lust”, as author Daniel McGinn calls it, affected the property market. . . . Home equity fell to about 48 per cent of total household …
Page 6 of Today’s Australian Financial Report states : House prices in Perth has suffered their biggest quarterly fall in almost a decade, in what analysis say could be a sign of things to come in other cities as rising interest rates and the falling stock market take their toll. …
If a picture is worth a thousand words, today’s graph would suggest I don’t have to write a column this week. The graph was put together by the Reserve Bank’s head of economic analysis, Anthony Richards, and tracks the movement in house prices over the past 35 years compared with …
Confidence among US consumers fell to a 26-year low after employers fired workers and petrol prices surged, threatening the spending that accounts for more than two-thirds of the economy. The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 63.2 this month, the weakest level since 1982, when the …
For the first time since its reporting began, AFG, Australia’s largest mortgage broker, has shown that mortgage sales in WA fell every month for the first three months of the year, when compared to sales for the same three months of 2007. This sales contraction is unprecedented in AFG’s experience: …
SYDNEY house prices could fall by as much as 30 per cent in the next two years, economists say. They warned the pain will not be confined to Sydney’s struggling south and west, where prices have already dropped dramatically. “In Sydney, a typical house will cost 8.4 times a typical …
Consumer confidence has dropped to a 15-year low, failing to recover this month despite a pause on official interest rates, according to figures out today. » Consumer confidence now lowest in 15 years – The ABC, 9th April 2008.
House prices in Britain plunged last month by the worst figure since the financial crisis in the early 1990s. . . » Biggest house price plunge for 15 years – UK Times Online, 8th April 2008
AUSTRALIA’S overvalued housing markets and high levels of debt put it at risk of being hit by the financial tsunami swamping markets in the United States, the International Monetary Fund has warned. The IMF’s latest Global Financial Stability report, released overnight, estimates that losses to banks, borrowers, investors and other …
THE number of jobs advertised in major newspapers has fallen to its lowest level in more than 14 years, with back-to-back interest rate rises causing a decline in every state and territory, a survey shows. The ANZ job ads series shows that the total number of website and print advertisements …
International banks are scrambling to sell their holdings of Spanish mortgage debt at a steep discount, fearing that the country may be sliding into the worst economic downturn in its modern history. » Foreign banks flee Spanish property debt – The Telegraph, 5th April 2008.
THE risk of a correction in Australian house prices is high by international standards, the International Monetary Fund (IMF) says. The IMF, which says Australian property is among the most overvalued in the developed world, has warned that about 25 per cent of the increase in house prices between 1997 …
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