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, …
Stats out from the Australia Bureau of Statistics show continued weakness in the first home buyer segment. The portion of first home buyers taking out loans fell 1.5 per cent in February to make up only 14.4 per cent of the market. Analysis from ANZ show changes to first home …
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 …
After last month’s anomaly, the unemployment rate for March has increased to 5.6 per cent, up 0.2 per cent. While 36,100 jobs were lost, a falling participation rate helped soften the headline increase. This compares to Roy Morgan’s unemployment rate of 10.8 per cent for March, down 0.1%. Contributing to …
Bank of Queensland CEO Stuart Grimshaw is just one of a growing number of individuals who can’t justify property prices in this country, and chose to rent instead. According to the Courier Mail, Mr Grimshaw rents a home in inner Brisbane. “Property in Brisbane is a bit expensive,” said Mr …
TV producer and freelance writer, Tom Whitty’s frustrations of living in the largest housing asset bubble in Australia’s history has gone viral today. What originated in the main stream media has spread rapidly to social media and forum sites around the country. At the time of writing this, it has …
Generous government incentives, cash rebates, flat screen televisions, motor vehicles, holidays and even cooking lessons have failed to prevent new home sales slumping 5.3 per cent in February according to data released today from the Housing Industry Association (HIA). Volatile unit sales fell 11 per cent, while detached homes fell …
House price statistics released today from RP Data shows the housing market is back in force with national dwelling prices increasing 1.3 per cent in the month of March and 2.8 per cent for the quarter. According to experts, this marks the “best” result in three years. If annualised, prices …
According to Bloomberg, the Australian Genworth Homebuyer Confidence Index has declined to 93.4 in March, down from 98.4 last recorded in September 2012. Despite lower interest rates, the number of borrowers who expect to hit mortgage repayment difficulties in the next year has spiked to 27 per cent in March …
Cyprus is the latest country joining the list with Greece, Ireland, Portugal and Spain to receive a bailout. While Cyprus only makes up 0.2 per cent of the Eurozone economy and the bailout is worth 10 billion euros, it is making news headline around the world for its unprecedented ‘levy’ …
QBE Insurance has been forced to withdraw building indemnity insurance from July after a rise in the number of builders becoming insolvent. Legislation in many states requires home builders to hold indemnity insurance to protect the property owner in the event the builder collapses, disappears or the builder passes away. …
Last Monday, we briefly reported on new regulations being introduced by the Chinese Government to help curb rampant property speculation and help put a lid on China’s property bubble. The shock move created jitters in world stock markets, including wiping approximately $21 billion from Australia’s resource lead bourse. The Chinese …
Ratings agency Moody’s believes a severe economic shock should see Canadian house prices plunge as much as 44 per cent. The assessment has Canada joining the ranks of Australia, Spain and the United Kingdom in the club of high flyers where a run-a-way housing market has seen housing market fundamentals …
1.5 per cent was wiped off the value of Australian stocks today, in part on the news the Chinese government is tightening regulations to help contain China’s Housing Bubble. The Shanghai Composite fell 3.6 per cent dragged down by some construction stocks falling as much as 10 per cent. Australia …
It’s the end of the month again and time for another update from the RBA on private credit aggregates. The trend continues with another all time record low for growth in annual housing credit growth, this time down to just 4.4 per cent. On a monthly basis, there was no …
S&P has reaffirmed Australia’s AAA credit rating for now, but has warned a number of vulnerabilities exist. One vulnerability is a housing correction due to the “substantial [household] debt mainly due to elevated property prices” in Australia. The report indicated “The sustainability of high household debt levels has not been …
A fortnight ago, we heard from the Prime Minister Ms Gillard taking about how “many Australians miss those days when they could spend all of their income, see wealth increase through ever-rising house prices, and through easy credit, borrow against the house again to spend more.” Last Friday, it was …
Influential businessman Dick Smith is one of many who calls Australia’s property market a Ponzi scheme. He told the weekend Australian Financial Review in 2011, “I suggest to people who have big borrowings on a house, it’s all a Ponzi scheme.” A Ponzi scheme provides returns to investors from money …
A private survey on unemployment from Roy Morgan estimates 10.9 per cent of the Australian workforce was unemployed in January 2013, up 1.3% over the past month and now sitting at the highest rate since January 2002. In other news, Retail trade figures released by the RBA show Christmas trading …
Emergency low interest rates are starting to kindle a fire under Australia’s lethargic housing market prompting vested interests’ to warn we are at the bottom of the housing cycle and on the cusp of a new housing boom, encouraging punters to get in early. Official data from the Australian Bureau …
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