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 …
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 …
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 …
On Saturday, the Herald Sun reported the average W.A. job seeker has experienced a fifteen per cent fall in hourly rates from the same time last year. The average hourly rate is now $51.60 a hour, down from $59.80 a year ago. Geologists have seen the largest falls and can …
The month of May started with a 25 basis point cut in the official cash rate to 2.75 per cent, the lowest setting in 53 years. Real Estate experts were adamant this would put a pulse back in a directionless market. But rather, we have seen a sharp plunge in …
On Tuesday night, Professor Ross Garnaut delivered a speech to Victoria University’s 2013 Vice-Chancellor’s Lecture and dinner, titled “Ending the great Australian complacency of the early twenty first century.” It is a well-researched and candid view of Australia’s current economic position and the significant challenges we now face. The age …
If you were the Treasurer announcing your budget tomorrow, what would you cut and why?
Treasurer Wayne Swan says it is “utterly irresponsible” to call today’s 25 basis point cut to the official cash rate as a cut to “emergency” levels. He is referring to the emergency low 3.00 per cent the cash rate reached after the collapse of Lehman Brothers and at the height …
Among the backdrop of growing budget deficits, the government struggling to fund Gonski and the National Disability Insurance Scheme (NDIS), the Australian Taxation Office (ATO) yesterday released figures showing negatively geared property investors lost a cool $13.285 billion in 2010-11 with much of this loss funded by the taxpayer. It …
ABC News 24 interviewed Dr Nigel Stapledon on the Australian Housing Market on Friday. The interview upload is courtesy of Macrobusiness. Dr Nigel Stapledon remarks, “Well Australia has been pretty lucky on the housing front in recent years. In the US we saw a major correction downwards in house prices, …
Thursday morning I almost burn a hole in my shirt. I was ironing my daily attire when Steve Mickenbecker from Canstar joined Kochie on Sunrise to talk about if it is cheaper to rent than buy. Kochie introduced the segment with the following slide showing the stats over the past …
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