Last week, figures from the Reserve Bank of Australia showed home loan credit growth was at its lowest level ever recorded, with RBA records dating back to the 1970’s. On Tuesday the ABS released the latest quarterly update to 6416.0, House Price Indexes: Eight Capital Cities, Jun 2011. With extremely …
In 2005, America had a shortage of homes. Today, its banks are using bulldozers to get rid of the oversupply. Bloomberg reports that the Bank of America has a glut of foreclosed homes that it can not sell. In June 1,679,125 were in some stage of foreclosure. Flooding the market …
The latest update to the RP Data-Rismark Hedonic Home Value Index, released today, show Australian house prices have now been falling for six consecutive months. House prices in June fell 0.2 percent seasonally adjusted. Capital City home prices have now fallen 2.0 percent for the year to June. On Tuesday, …
Australian Property Speculators can no longer keep their heads in the sand with Today Tonight featuring a story on the impending Australia Property Crash reporting experts views that some suburbs are at risk of colaspsing. It reports that America’s Sub Prime crisis trashed house values. What happened there is happening …
Here is the trailer for the documentary Real Estate 4 Ransom, why does land cost the earth? : Real Estate 4 Ransom Official Trailer from Real Estate 4 Ransom on Vimeo.
Retail therapy impossible in this housing market – The Sydney Morning Herald, 19th July 2011.
Westpac Chief Economist Bill Evans came out on Friday predicting that interest rates could fall 100 basis points over the next 12 months while unemployment could jump as high as 5.75 percent (up from 4.9 percent today) as a range of leading employment indicators were turning south. In an article …
A Housing Industry of Australia (HIA) / RP Data residential land report has today shown land sales have fallen to their lowest level since accurate figures were first recorded. In just the past year, Land sales around the country has fallen 43 percent to the end of the March quarter. …
Last month we wrote about signs that China’s construction bubble could be on the verge of bursting. There were concerns of large and mounting debts held by LGFV (Local Government Finance Vehicles) for empty office towers, residential real estate and other non performing infrastructure investments. Two days after we wrote …
There were more surprises for economists today with Retail sales falling 0.6 percent seasonally adjusted for May 2011. Economists had expected a rise of 0.3 percent. The ABS also released Housing approvals for the month of May showing falls of 7.9 percent in contrast to economist predictions of a minor …
A report from BIS Shrapnel today predicts mortgage rates will climb sharply to 9.4 percent by 2013 as the RBA combats rampant inflation, but there is nothing to worry about as property won’t crash! It makes the prediction that prices will stay steady “with some cities even showing moderate price …
It wasn’t that long ago the property lobby was screaming of a shortage of houses. In the last six months we have seen a surge of houses listed for sale, and it now appears these are overflowing onto the rental market forcing landlords to drop rents. Owners, unable to sell …
The second bailout of Greece has been in the lime light for the past couple of weeks. While Fitch rating’s Andrew Colquhoun said today that Australian and Korean Banks are the most exposed in Asia to the European debt crisis thanks to our dependence on offshore borrowing, is there another …
Property experts make the argument that house prices can’t fall in Australia as we have very low unemployment. But it begs the question if a fall in house prices leads or lags a fall in employment? The Unconventional Economist set out to answer this question last month and found that …
In a report released by Access Economics today, it expects retail sales to grow by only 1.3 percent this financial year, sounding the worst period for retail spending in two decades. But, on a positive note, it expects a rebound next year. David Rumbensm, a partner with Deloitte Access Economics …
Philip Chronican, ANZ’s Chief Executive Officer, Australia has today said “Household arrears are a concerning trend. It is a problem that is going to stay for a while,” The comments come a week after Fitch Ratings reported mortgage arrears had hit record highs. Mortgage arrears greater than 30 days increased …
Storm clouds overshadowing the Australian Residential Property Market show no signs of abating. The rain has settled in and appears to be here for the medium term. Today’s monthly release from RPdata shows house prices across the country fell a seasonally adjusted 0.3 percent in April. Perth lead the falls …
Financial commentator and co-host of Channel 7’s Sunrise, David Koch, is considered one of the more influential people in the finance industry, appealing to much of the Mum & Dad segment. Today, Kochie featured a story on Australia’s falling property market – yes, that’s right, falling. In an interview with …
Home loan approvals have fallen to 10 year lows in Australia and is set to put further downwards pressure on house prices over the coming year. Approvals for owner occupied housing loans fell 1.5 percent, seasonally adjusted, for the March 2011 quarter. As most buyers require loans to purchase property, …
Late last month we reported on news of the Gillard Government considering the scaling back of Negative Gearing in Australia. (See Negative Gearing Rort added to Endangered Species List) The Australian has today reported on a couple trying to sell an investment property after the uncertainly brought about from these …
Copyright 2006 - 2022