Transparency surrounding real estate investment by foreigners has returned with the Foreign Investment Review Board Annual Report 2010-11 showing 9771 real estate investments worth $41.5 billion was approved in 2010-11. In December 2008, the Rudd Government announced a change to legislation, it claimed, was designed to ‘streamline’ some of the …
In RP Data’s April update on the Australian housing market, it believes the market is stabilising on the back of interest rate cuts late last year. You can watch the full update here. The update features a graph showing Monthly Transaction Volumes and gives the following commentary, “Our estimate of …
“Paying your mortgage down before the bust is the most effective way of avoiding getting into negative equity once housing prices start to fall.” This is the statement Luci Ellis, Head of the RBA’s Financial Stability Department made last week in her address to the Federal Reserve Bank of Atlanta …
Measures by China’s central government to cool its once bubbling property market is continuing to yield results with figures from the National Bureau of Statistics (NBS) showing a 17.5 percent drop in the number of home sales in the first quarter this year. According to the bureau, new house prices …
As housing affordability hits crisis point in Sydney, NSW Opposition Leader John Robertson has called for a debate on the effect negative gearing is playing on housing affordability. A report released last week from the McKell Institute showed seventy precent of under 35s can no longer afford to buy a …
For as long as I care to remember, the Real Estate salesmans’s call to action has been, “It’s never a better time to buy”. But for the 27 percent of the first home buyer cohort who followed this advice the year before last, their homes are worth less than they …
Last week, the producers of Real Estate 4 Ran$om posted the 40 minute documentary for public viewing on vimeo. Real Estate 4 Ran$om is about property speculation and its impact on the broader economy. Real Estate 4 Ransom from Real Estate 4 Ransom on Vimeo. » Real Estate 4 Ransom …
While the property lobby bangs on about a housing recovery this year, the Australian Bureau of Statistics today released its January housing finance figures showing the total value of housing finance fell 2.3 percent, seasonally adjusted. Most of the fall was attributable to a 7.1 percent fall in the value …
In a report released yesterday by Standards & Poor’s, it predicted Australian House Prices could fall by more than 5 percent in 2012 should China experience a soft landing with a GDP growth rate of 8 percent. Earlier this week China’s Premier Wen Jiabao announced his government would target a …
Last month we had a chuckle at a News Limited article encouraging children into the property market. It tried to sell the idea that while minors would have their investment income taxed at 46.5 cents in the dollar it “also means a greater potential benefit from negative gearing.” We can …
ANZ plans to slash 1000 jobs. Qantas announces 500 jobs to go. Billibong will shed 80 local jobs. Air Australia enters administration with 300 staff stood down. Jobs are going left, right and center. Above is a subset of higher profile jobs losses announced just this week. Yet, despite all …
Last month we reported on the ANZ’s decision to break away from the RBA and start setting lending rates independently. Today ANZ has decided to put interest rates up, raising the standard variable rate from 7.3 to 7.36 percent. While the 6bps move is a drop it the ocean, it …
In a surprise move today, the Reserve Bank of Australia has decided to keep interest rates on hold for February. The ASX Target Rate Tracker had the chance of the official cash rate being decreased to 4.00 percent, at 100% yesterday. Even I was 100% certain rates would be cut …
The latest installment of the official House Price Index from the Australian Bureau of Statistics (ABS) was released today showing Australian house prices continued to fall in the December 2011 quarter. The weighted average of the eight capital cities fell 1.0 percent in December, ending a year where house prices …
According to SQM research, Melbourne’s rental vacancy rate surged 1 percent in December to a 6 year high of 4.4 percent as the city deals with an oversupply of residental property. There is now 16,000 rental properties sitting empty. A fortnight ago, the Herald Sun reported on a rental glut …
According to Skelton Sherborne, a freight forwarder of mining and construction equipment, imports of heavy machines into Australia fell 62.5 percent in November and December. Skelton Sherborne Director Brad Skelton said the last slowdown of this rate occurred in December 2008 / January 2009 when imports fell 77 percent. He …
More doom and gloom headlines circulate Australian media today with comments from an United States based property analyst suggesting Australian property could crash by more than 60 percent. At the same time, Australian experts counteract the argument saying it can’t happen in Australia, in fact – some say we have …
Australian Bureau of Statistics figures released today show Australia lost 29,300 jobs in December. For the year, there was close to no new jobs created making job growth last year the worst since 1992. Unfortunately this year is not expected be any better. Excessively high levels of household debt and …
While the real estate lobby groups put on a brave face and shower us with news of a recovery (0.1% increase in property prices in November), surging rents, housing shortages, tight rental vacancy rates and that it is never a better time to buy – you will get in at …
It’s the 64 thousand dollar question – With the housing market once again collapsing, just like in 2008, will the government re-introduce the first home buyers’ grant to prop it back up? With a federal election due next year, Aussie Home Loans boss John Symond expects a new boost towards …
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