According to statistics released from RP Data today, House prices in Australia continue to trend in the downwards direction. In the November quarter, prices fell 0.6 per cent in capital cities, or a seasonally adjusted 0.2 percent. Perth lead the pack with a 3 percent decline for the three months …
A surprise sharp decline in house prices in the United States has analysts calling the start of the double dip for the already depressed U.S. housing market. The S&P/Case Shiller home price index for a composite of 20 U.S. cites plunged 1.3 percent in the month of October, the biggest …
According to the Global Real Estate Trends report published by Scotia Economics on Christmas Eve, “Australia is the clear front-runner in 2010” when it comes to house asset price rises. The report cites “Housing demand is being supported by low unemployment, while tight supply is adding to the upward pressure …
With only 24 hours left the go, analysts are describing retail conditions as the worst since the early 1990’s. According to the Australian Retailers’ Association, more than 65 percent of retailers had worst sales figures this year than in the same week, last year. While some blame the high Australian …
In what should be a pre-Christmas cheer to home owners and property investors, the IMF has said Australian housing is only moderately overvalued by 5 to 10 per cent and as a result the correction is likely to be orderly. Rising exports from our mining boom resulting in higher disposable …
The ABS reported yesterday that housing starts have fallen a seasonally adjusted 13.2 percent in the September 2010 Quarter. In the ACT, falls were as large as 30 percent. It is the biggest fall since the GFC with some economists explaining the plunge due to the weather or high rain …
In a Senate inquiry into the banking sector today, Reserve Bank Governor Glenn Stevens has warned the government not to mess with the banking system too much or face the risk of “unintended consequences”. “When you think about extensive public intervention in housing markets, we don’t need to go any …
Today, the Adelaide Sunday Mail printed the following in an article titled “Housing boom over as values fall” : ADELAIDE’S median house price has fallen by $8000 since hitting a record high this year, the latest sales figures show. And the real estate industry says the past decade’s price boom …
Chinese Academy of Social Sciences (CASS) has found China’s Real Estate bubble has soared in urban areas despite repeated efforts of the central government to keep it under control. It has found the city of Fuzhou has the most expensive housing predicted to be 70.3 percent overvalued. Hangzhou and Nanning …
Enzo Raimondo, the CEO of the Real Estate Institute of Victoria has just reported on today’s Auction Clearance Rates for Melbourne. Of the 937 auctions reported today, 84 sold prior to the auction, 475 sold at auction and two sold after, making a clearance rate of 60 percent. There is …
More bad news out today from the ABS. Retail sales fell a seasonally-adjusted 1.1 percent in October, surprising economists who expected a 0.4 percent increase. Discretionary spending was hit the most as households funnelled more money into debt repayments to service skyrocking mortgages. » 8501.0 – Retail Trade, Australia, Oct …
Australia’s gross domestic product (GDP) has grown at its slowest pace since the GFC as stimulus measures start to wear off. Seasonally adjusted GDP grew at just 0.2 percent in the September quarter surprising the market which expected approximately 0.5% growth. Looking closer at the results, a strong result in …
It wasn’t all that long ago, that Real Estate experts were telling us that house prices can’t fall in Australia due to a “chronic” shortage of homes. They said the stark reality is we are not building enough homes to meet demand from our growing population, and this shortage will …
A report from the Renmin University of China suggests China’s property market is in for a 20 percent fall next year starting in March or April. The forecast comes based on measures the China central government is undertaking to cool the property market. This is likely to see capital for …
An article published in the Australian newspaper today of a senior Treasury official warning of the house bubble in Australia has almost gone viral. The comments stem from the preparation of the RedBook, a briefing for the incoming of the new government. Two months ago, in September, we published comments …
In the money advice section of the Adelaide Sunday Mail home lift-out today, is the following letter : I have four investment properties which have grown in value considerably over the last five years. I brought one prior to 1985 so there is no capital gains tax problem but the …
It has been a bad weekend around the country for Real Estate. News Limited reported auction clearance rates have “collapsed” in Australia’s largest housing markets. According to the paper the total volume of homes traded at auction over the weekend in Sydney, Melbourne, Brisbane and Adelaide was only $242.3 million, …
Figures from the ABS on Monday showed Melbourne was the star performer in Australia’s Real Estate markets. For the three months to September 2010, prices rocketed 2.7 percent in Melbourne, way in front of the next best result of just 0.4 percent (Perth) and with the majority of capital cities …
The Australian Bankers’ Association has reviled today that the extra hike in mortgage rates is due to international investors getting extremely nervous about Australia’s housing bubble. Steven Munchenberg from the ABA said “Over the last few weeks, we’ve had a lot of international investors asking very detailed and probing questions …
Wayne Swan would be fuming tonight. The Reserve Bank of Australia has put up the official cash rate another 25 basis points, only for the Commonwealth Bank of Australia to up rates 45 basis points. The 25 basis point rise to 4.75% will come as another blow to home owners …
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