With the European debt crisis effecting consumer confidence around the globe, HSBC’s China Purchasing Managers’ Index (PMI) dropped to 47.7, a little bit weaker than last weeks preliminary flash figure. Values below 50 indicates the conditions are contracting and deteriorating. Today’s figure comes in at a 32 month low. The …
Melbourne may need more than an endangered frog to stir up pent up demand if last months’ building approvals are anything to go by. Home approvals fell 10.7 percent in the month of October contributing to a 29.8 percent fall for the year. Apartments and units have lead the falls, …
Further doubt has been cast today, if Australia’s housing market is in fact different to the rest of the world. The latest RP data update on Australia’s capital city market has shown house prices have fallen a seasonally adjusted 4 percent for the 12 months to October 2011. Prices fell …
With the super Saturday flop still in memory, Melbourne property lobbyists have turned to a frog in a last ditch effort to try to save the market. The ABC’s PM reports “Developers say property prices in Melbourne’s urban growth corridors may skyrocket because of an endangered frog.” According to Tony …
SQM’s Louis Christopher and Kochie featured on Sunrise today to talk about the future of Real Estate in Australia. Louis Christopher explained how auction clearance rates are actually calculated, while Kochie talked viewers through the credit crunch and how Australia has the most expensive property in the world. The video …
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 …
The last month have seen some large and dramatic changes in China’s property market. A wave of real estate agency closures in Beijing and Shenzhen and falling prices has many Chinese believing the real estate market has reached all time highs and is now finally correcting. Recent weeks have seen …
Over the past 18 months we have reported on numerous attempts by the Chinese Central Government to try to cool their overheating property market, using measures such as restricting citizens from purchasing multiple homes, increasing interest rates and increasing bank reserve ratios. In the past two months, these measures have …
The September update to Australia’s official house price index was released today showing house prices continue to fall in Australia. The weighted average of the eight capital cities fell 1.2 percent in the last quarter according to the Australian Bureau of Statistics. The ABS also revised down the June quarter …
According to data from the People’s Bank of China (PBOC) and published by the China Daily, new property related loans including loans provided to property developers and new home buyers fell to 992.3 billion yuan between January and September, down 42.8 percent compared to the same time the year earlier. …
A plan announced on Thursday to address the Eurozone debt crisis has bouyed markets around the world. But questions remain if it will go anywhere near fixing the problem. Eurozone leaders have formed an agreement with private banks and insurers to accept a 50 percent loss on Greek’s bonds. Long …
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 …
Zhang Zhiwei, chief China economist at Nomura Holdings Inc has told Bloomberg, China’s property market may be reaching “Tipping Point”. The China central government has been trying to cool rampant speculation in the property for some time. According to data from the government, prices of new homes declined in 16 …
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 …
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