Up, down or sideways? Debate has intensified about the future direction of Australia’s property market since the RBA announced a 25 basis point cut to the official cash rate this week. It’s not the first cut we have had. Australia has experienced five downward adjustments in monetary policy since November …
One of the take home messages from yesterday’s 25 basis point drop is the Reserve Bank’s worry unemployment is starting to rise. On Monday, Roy Morgan research released the results of its latest unemployment and under-employed survey, showing unemployment in Australia is now at 10 per cent, and quite a …
There is growing concerns Australia’s miracle economy might not be in as good shape as our politicians would lead us to believe. This view was reinforced today when the Reserve Bank of Australia was forced to cut official interest rates to help stave off what could emerge as the second …
The concensus among private housing data providers is the Australian residential property market is on the mend. Prices are once again rising, after our “mini” housing correction. But it is hard to find the drivers of this new found confidence. The Reserve Bank of Australia has today released the August …
As awareness of Australia’s household debt and associated housing asset bubble continuously permeates, we are witnessing some well written commentary and opinions appear in the mainstream media. On Tuesday, Michael Feller told Sydney Morning Herald readers that being a bear is not ‘unAustralian’. Saying that Australia has unusually high house …
The hopes of a real estate recovery took a blow today with figures released by the Housing Industry Association (HIA) showing the number of new home sales fell 5.6 per cent in July 2012, following three consecutive rises from April through to June. ABS Census data released in the first …
Wednesday’s decision by BHP Billiton to delay the Olympic Dam expansion could herald the end to Australia’s mining investment boom and commodities super-cycle. Debate about when or if the boom had peaked started earlier this month when a report from Deloitte Access Economics had forecast a peak for resource sector …
Australia’s fixation with keeping its housing bubble afloat could cause wealth destruction on a grand scale. It’s now five years since the GFC. The debrief from this household debt lead crisis in the United States includes a 38.8 per cent fall in median family net worth across all age groups …
If you have been following Denise Brailey, a consumer advocate and president of the Banking & Finance Consumers Support Association (BFCSA) or investigative journalist at The Australia, Anthony Klan you will know there is a potential Subprime crisis brewing in Australia. Over the past few months we have heard numerous …
There is no debating that Australians have a love affair with property. With that, come daily predictions on what house prices and rents will do in the future. But have you ever asked yourself what actual research goes into making these predictions? Most headline articles don’t give the reasoning or …
If the Australian men’s swimming team can teach you anything at this Olympics, it’s not to be cocky. This turns out to be sound advice considering I was almost certain the Australia Bureau of Statistic’s house price index for Australia’s eight capital cities would have notched up six consecutive quarterly …
The Sydney Morning Herald reported on a Housing Industry in crisis yesterday with more than 363 companies from the building industry hitting the wall since January 1. The Herald’s Adele Ferguson writes “What is even more alarming is the trend seems to be getting worse, with 30 building companies failing …
Housing starts have fallen a seasonally adjusted 12.6 per cent in the March 2012 quarter to just 30,623 starts. This is the lowest number of commencements since 2001 and further evidence not all is well in the housing market. For the year, housing starts have plunged 24.5 percent. Short term …
On Friday, Reserve Bank governor Glenn Stevens said the housing price boom in the decade to 2007 was “unusual” and was unlikely to re-emerge any time soon. Today it is Westpac’s managing director, Gail Kelly singing the same tunes. News Limited reported today : In a closed session, Ms Kelly …
Prime Minister Julia Gillard joined the ABC’s Q&A program Monday night to answer the questions and concerns of everyday ordinary Australians. Robyn Tracey from the audience asked the Prime Minister a couple of questions on tax reform including this one on negative gearing: Why hasn’t negative gearing been abolished despite …
Despite Australian’s love affair for residential property, Australia’s housing market might just be losing friends at a faster pace than facebook. The latest loss is the Reserve Bank of Australia after governor Glenn Stevens said on Friday it should not “engineer a return to a housing price boom.” Speaking in …
ABC News featured this story on Melbourne’s oversupply of homes this week, reporting on expectations the market will only get worse. Residex estimates there is an oversupply of 14,000 homes and expect prices to fall a further five to ten percent over the next year. Residex CEO John Edwards said …
Based on analysis of advanced economies over the past three decades, housing busts preceded by larger run-ups in household debt tend to be more severe and protracted. This is one finding presented in the International Monetary Fund, World Economic Outlook April 2012, titled Growth Resuming, Dangers Remain. Australia is not …
Rate cuts by the Reserve Bank of Australia (RBA) in November and December 2011 has done nothing to restore confidence to the housing market with the official Australian Bureau of Statistics (ABS) House Price Indexes released today showing house prices in Australia continue to fall, clocking up five consecutive quarterly …
While property experts gather around to corroborate stories of a recovering property market, data released today from the Reserve Bank show housing credit rose just 0.4 percent in March to bring the yearly growth rate to 5.3 percent. Housing growth has been stuck firmly at an annual rate of 5.3 …
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