Chronic housing affordability has seen the number of first home buyers drop by almost 50 percent in Adelaide. Figures supplied to the Adelaide Advertiser by Treasury, show only 6570 South Australian First Home Buyers signed on the dotted line to purchase a home in 2010-11, a dramatic drop from the …
Talking at an Asia Society Dinner in Sydney, World Bank president Robert Zoellick has warned that fragile confidence from recent events in the United States and Europe have pushed us into a new danger zone “And I don’t say those words lightly.” But these comments come as no surprise to …
Boy, what a turbulent couple of weeks on global stock markets. In Australia, the All Ordinaries lost 3.75 percent over the week ending 29 July only to accelerate and plunge 7.49 percent the following week. This included a free fall of 4.21 percent last Friday. This week has seen some …
Channel 9’s 60 Minutes has tonight shown a story about record number of Australia’s struggling to keep up with their mortgage repayments, suggesting renting may just keep you ahead of the game. A transcript of the story will be available tomorrow. ยป The Big Squeeze – 60 Minutes, 7th August …
The latest update to the RP Data-Rismark Hedonic Home Value Index, released today, show Australian house prices have now been falling for six consecutive months. House prices in June fell 0.2 percent seasonally adjusted. Capital City home prices have now fallen 2.0 percent for the year to June. On Tuesday, …
Australian Property Speculators can no longer keep their heads in the sand with Today Tonight featuring a story on the impending Australia Property Crash reporting experts views that some suburbs are at risk of colaspsing. It reports that America’s Sub Prime crisis trashed house values. What happened there is happening …
Retail therapy impossible in this housing market – The Sydney Morning Herald, 19th July 2011.
Westpac Chief Economist Bill Evans came out on Friday predicting that interest rates could fall 100 basis points over the next 12 months while unemployment could jump as high as 5.75 percent (up from 4.9 percent today) as a range of leading employment indicators were turning south. In an article …
A Housing Industry of Australia (HIA) / RP Data residential land report has today shown land sales have fallen to their lowest level since accurate figures were first recorded. In just the past year, Land sales around the country has fallen 43 percent to the end of the March quarter. …
There were more surprises for economists today with Retail sales falling 0.6 percent seasonally adjusted for May 2011. Economists had expected a rise of 0.3 percent. The ABS also released Housing approvals for the month of May showing falls of 7.9 percent in contrast to economist predictions of a minor …
A report from BIS Shrapnel today predicts mortgage rates will climb sharply to 9.4 percent by 2013 as the RBA combats rampant inflation, but there is nothing to worry about as property won’t crash! It makes the prediction that prices will stay steady “with some cities even showing moderate price …
It wasn’t that long ago the property lobby was screaming of a shortage of houses. In the last six months we have seen a surge of houses listed for sale, and it now appears these are overflowing onto the rental market forcing landlords to drop rents. Owners, unable to sell …
Property experts make the argument that house prices can’t fall in Australia as we have very low unemployment. But it begs the question if a fall in house prices leads or lags a fall in employment? The Unconventional Economist set out to answer this question last month and found that …
In a report released by Access Economics today, it expects retail sales to grow by only 1.3 percent this financial year, sounding the worst period for retail spending in two decades. But, on a positive note, it expects a rebound next year. David Rumbensm, a partner with Deloitte Access Economics …
Philip Chronican, ANZ’s Chief Executive Officer, Australia has today said “Household arrears are a concerning trend. It is a problem that is going to stay for a while,” The comments come a week after Fitch Ratings reported mortgage arrears had hit record highs. Mortgage arrears greater than 30 days increased …
Storm clouds overshadowing the Australian Residential Property Market show no signs of abating. The rain has settled in and appears to be here for the medium term. Today’s monthly release from RPdata shows house prices across the country fell a seasonally adjusted 0.3 percent in April. Perth lead the falls …
Financial commentator and co-host of Channel 7’s Sunrise, David Koch, is considered one of the more influential people in the finance industry, appealing to much of the Mum & Dad segment. Today, Kochie featured a story on Australia’s falling property market – yes, that’s right, falling. In an interview with …
Home loan approvals have fallen to 10 year lows in Australia and is set to put further downwards pressure on house prices over the coming year. Approvals for owner occupied housing loans fell 1.5 percent, seasonally adjusted, for the March 2011 quarter. As most buyers require loans to purchase property, …
Late last month we reported on news of the Gillard Government considering the scaling back of Negative Gearing in Australia. (See Negative Gearing Rort added to Endangered Species List) The Australian has today reported on a couple trying to sell an investment property after the uncertainly brought about from these …
The 2011 Federal Budget released on Tuesday night should come as a welcome relief for aspiring first home buyers faced with chronic affordability issues. As expected, the Government has this time bucked previous trends and decided not to meddle with the property market. Hopefully, this time, the government will leave …
Copyright 2006 - 2022