Television news and printed newspapers around the country has today reported on comments from the Economist Magazine warning the Australian residential property market could plunge 25 percent, triggered by the European Debt Crisis. The European debt crisis reached new highs this week when an auction of $8.26 billion 10 year …
According to press release from the Mortgage & Finance Association of Australia, “First time home buyers have little confidence in the Australian economy, as they baulk at property purchases and hoard their cash”. The press release detailed statistics from a recent Commonwealth Bank/Mortgage & Finance Association of Australia Home Finance …
According to a News Limited article with the headline “HOUSING STRESS: PM struggles to find a rental property”, Prime Minister Julia Gillard is having trouble finding a rental property in a difficult market. The number of rental vacancies around the country continue to increase as cost of living pressures force …
In recent weeks we have heard claims from property management companies saying rents are surging and will continue to do so. One company even claimed double digit rises. The only trouble is, these claims are not supported by actual figures from Australian Property Monitors (APM). The median weekly asking rents …
Treasurer Wayne Swan has told the ABC he doesn’t agree with the IMF report indicating Australia’s house prices are overvalued by 10 to 15 percent. “I don’t share its assessment in terms of housing. There is a shortage of housing in Australia. A structural shortage of housing,” he said. Despite …
Highly leveraged property investors are set for their first full night sleep in 8 months after a news article out today from The Age’s Ian Verrender saying a chance of a property crash in Australia is “as rare as hen’s teeth”. Read more on why Australia’s property bubble can’t crash …
The two day tax forum in Canberra has ended today showing negative gearing is still firmly on the chopping block. In April we reported (Negative Gearing Rort added to Endangered Species List) on discussions the Gillard government had been having on abolishing what is considered Australia’s largest tax concession. Figures …
Eight months into Australia’s housing recession and there is no signs of letting up, not that we would expect any let up unless the government decided to intervene. According to the RP Data-Riskmark Hedonic Index released today, nationally house prices fell a seasonally adjusted 0.4 percent in the month of …
The Melbourne Herald Sun has reported on research from RateCity, showing in the 12 months to July, 40,000 fewer first home buyers entered the property market compared to the previous 12 months. This has seen mortgage lending fall some $11 billion dollars, at a time when housing costs were approximately …
Adelaide’s channel 7 news has tonight reported on a rental crisis only set to worsen in Adelaide. But this one effects landlords, giving tenants the upper hand. Channel 7 reports landlords has been forced to slash rents as the availability of properties outstrip demand. The rental vacancy rate has shot …
Mortgage insurer Genworth Financial yesterday released its September Homebuyer Confidence Index showing the number of Australian’s with mortgage stress in Australia has jumped to 25 percent and is now at unprecedented heights, even exceeding levels experienced during the Global Financial Crisis. With this in mind, is it better to rent …
The Howard Era is known as a period between the 11th March 1996 and the 3rd of December 2007 where John Howard held the position of Prime Minister of Australia and Peter Costello, the Treasurer of Australia. It’s also known as the longest period of economic expansion in Australia. But …
Philip Soos, a researcher at Deakin University’s School of International & Political Studies and author of the paper Bubbling Over : The End of Australia’s $2 Trillion Housing Party posses the question if economists are ignoring our property bubble? In an article published today and titled Are economists ignoring Australia’s …
In our last post, we reported on Harry Dent arriving in Australia to promote his new book. On Wednesday morning, Mr Dent appeared on Channel 7’s Sunrise telling David Koch his belief that Australian housing is likely to fall as much as 50 percent as the world is hit by …
According to the Australian Associated Press, Harry Dent has arrived in Australia today to promote his new book, “The Great Crash Ahead: Strategies for a World Turned Upside Down.” Amazon suggests his book will be released on the 20th of September. In promoting his book, Mr Dent has told AAP, …
It’s the second week of Spring and while the number of properties on the market keeps increasing, the Melbourne Herald Sun reports Real Estate agents are now being forced to desert some sellers who still have hopes of obtaining “dream 2010” prices. James Hatzimoisis, Managing Director of Barry Plant, a …
With data showing national house prices have been falling for the last 7 months, SQM Research has told Fairfax Newspapers today, it expects June 2012 house prices in Melbourne, Brisbane and Perth to be as much as 15 percent lower than 2010 peaks, provided there are no sudden problems in …
There are no surprises in this months release of the RP Data‐Rismark July Hedonic Home Value Index. House prices continue to decline, falling a seasonally adjusted 0.6% in the month of July and registering the 7th straight month of falls. Since the start of the year, Australian capital city prices …
According to figures released from the Housing Industry of Australia, sales of new homes are down 8 percent for the month of July. This follows a similar size fall in June of 8.7 percent and has the housing industry begging the government for more stimulus. But while the housing lobby …
Channel 9’s reality TV show The Block has tonight transparently shown the nation via their arm chairs, the true depressed state of the property market. Only one of the four renovated houses sold at auction yesterday at the Fitzroy Town Hall. The only property sold – Polly & Warwick’s, fetched …
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