Holden managing director Mike Devereux has today officially confirmed the closure of Holden’s manufacturing facilities in Australia. The company has decided to cease manufacturing operations at the end of 2017. Today’s announcement puts at grave risk Australia’s entire automotive manufacturing industry as land man standing, Toyota and the dependant component …
While Holden’s Australian management refuse to confirm it, it is widely believed General Motors in Detroit has last month signed off on a global restructure that includes the closure of Australia’s manufacturing plants in Adelaide and Port Melbourne. The high Australian dollar and labour costs contributed to the decision. It …
Fund Manager Roger Montgomery featured on the ABC’s The Business last night to talk about the misleading Auction clearance rates being banded around the market at present. He says the Sydney 83.7% clearance rate reported on November 9th, according to Financial Analyst Mark Bayley is nothing like it – more …
Getting reforms in the public interest of all Australians can be difficult when vested interests have too much to lose. The Sydney Morning Herald has today reported on figures published by the NSW Office of State Revenue showing a record $356.8 million was made from Stamp Duty receipts last month …
As the saying goes, the Real Estate fraternity is using statistics as a drunken man uses lamp-posts — for support rather than illumination. Australia’s unprecedented housing bubble has few fundamentals left, and this has seen the Real Estate industry turn to dodgy statistics to help sell and support the cause …
On Monday, ABS Housing Finance data revealed another deterioration of the number of first home owners’ participating in the owner-occupier segment of the market. The decline has renewed calls for a national housing affordability debate. Last week the Abbott government abolished the National Housing Supply Council (NHSC) citing their “activities …
Record low interest rates have put a rocket under the Sydney property market, propelling yearly growth to an unsustainable double-digit 11.4 per cent according to official figures released from the Australian Bureau of Statistics (ABS). The size of the Sydney market has helped prop up the rest of Australia, with …
If you have landed on this page searching for information on the Australia Housing Bubble, then you are not alone. According to a new CommSec Housing Bubble Index, there were 194 mentions of “housing bubble” in Australian Newspapers in September this year. This is just shy of 201 mentions last …
The overwhelming fear of his five year old son being priced out of the property market – forever, has forced a Sydney property lawyer to act. He has moved to secure his son’s future by purchasing a one bedroom $710,000 Potts Point apartment. Reserve Bank Governor, Glenn Stevens said today …
In our last post, we quoted Australia’s Treasurer, Joe Hockey when interviewed on CNBC in New York denying a bubble exists in Australia’s overheated property market. Last fortnight, The Australian Financial Review’s Christopher Joye interviewed First Eagle portfolio manager Matthew McLennan. Q: You are clearly very knowledgeable on the Australian …
Australia’s Treasurer, Joe Hockey, has been caught in an interview on CNBC in New York shamelessly spruiking the Australian Real Estate market. The interviewer asked Hockey, “Let’s talk about the Australia housing, a very favourite topic on my own, close to my heart as I have a home in Sydney …
In an interview with Neil Mitchell’s 3AW on Friday, Prime Minister Abbott said “Don’t forget Neil that if housing prices go up, sure that makes it harder to get into the market, but it also means that everyone who is in the market has a more valuable asset.” His comment …
I never thought I would see the day. In fact, in 2008 I joked with some Journalists on who was going to be the first to get Australia’s Real Home Price Index into a mainstream paper. None of us thought it could ever happen. So you still need to pinch …
If you can believe the real estate spruiker, emergency low interest rates have put a fire under Australia’s housing market. And as Australia already suffers the side effects of a large housing bubble developed over the past decade, investors will need to use extreme caution as signs emerge Australia’s central …
News segments spruiking the real estate market and reminding buyers to hurry up and buy now or miss out for ever has been the staple of 6PM news bulletins on Saturday night. But the tide might be changing. Channel 10 reports tonight of a fickle and cautious buying public, smarting …
New Zealand’s central bank appreciates the bigger the bubble, the bigger the bust. Today, it has taken action to curb potential damage from a bigger housing bust by restricting lending in the hope of cooling New Zealand’s overheated housing market. Reserve Bank Governor Graeme Wheeler said “In the current situation, …
ABS data released today show house prices in Australia has fully recovered, surpassing record highs last achieved in June 2010. The weighted average of the eight capital cites recorded a 2.4 per cent increase to the June 2013 quarter and a healthy 5.1 per cent change for the year to …
News Limited is generally considered to have a pro housing slant, but today it has printed a series of articles suggesting housing affordability is the top issue facing voters in this year’s election. “HOUSING affordability is a burning issue for Australian voters – more important than border security, broadband and …
Generation Y, Kev wants you on board. During Kevin Rudd’s comeback leadership victory speech he had a message for our young generation: Before I conclude, let me say a word or two to young Australians. It’s clear that many of you, in fact too many of you have looked at …
Since the GFC, Australia has literally bet the house on China. We have put all our eggs in one basket. And like Australian housing, you shouldn’t become complacent on the China miracle either. Throughout much of last decade, many western households around the world spent more than they earned. China’s …
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