Category: News

Global house price synchronisation impacting Oz

Latest news: Property News Update: 4th May 2018 Property investment advice should be regulated Should stamp duty be abolished in QLD? House prices are becoming increasingly synchronised in many advanced and emerging market economies, according to the International Monetary Fund’s (IMF) latest Global Financial Stability Report.
In over 40 countries and 44 major cities—including Sydney and Melbourne—exposure to global financial conditions may provide an explanation for the rise in house price synchronisation.
“Cities in advanced economies may be particularly exposed to global financial conditions, perhaps owing to their integration with global financial markets or to their attractiveness for global investors searching for yield or safe assets,” the IMF said.
Policymakers cannot ignore the possibility that shocks to house prices in other parts of the world may impact Australia’s housing markets. While house-price synchronisation in and of itself may not warrant policy intervention, it ..

Read More

Rental markets across QLD showing signs of improvement

Latest news: Property News Update: 4th May 2018 Property investment advice should be regulated Should stamp duty be abolished in QLD? Rental markets across Queensland are showing signs of improvement, according to the Real Estate Institute of Queensland’s (REIQ) Q1 2018 Vacancy Rate report, released last Friday.
Regional Queensland, in particular, has delivered good results, following three years of lacklustre results.
Antonia Mercorella, CEO of REIQ, said regional vacancy improvements in the March quarter followed similar minor improvements in the December quarter.
“Some of our markets, such as the Gold and Sunshine Coasts, remain uncomfortably tight, and we would like to see more investors enter those markets; however, APRA’s tightened lending criteria is not encouraging investors to consider property,” she said. “The result is tight markets remain tight, despite good opportunities for landlords in those markets.”
Greater Brisbane’s vacancy rate eased by 0.1% to 2.7%, and remains..

Read More

Property News Update: 20th April 2018

Latest news: Property News Update: 4th May 2018 Property investment advice should be regulated Should stamp duty be abolished in QLD? What's made the news this week?
Kieran and Kevin catch up to discuss the stories that grabbed their attention this week. Among them is a warning to Melbourne unit owners, negative rent growth (the boys ask how growth can be negative!) and they name the top 10 growth suburbs in Australia.
Listen or watch here.

Capital city rent growth hits a 20-year low.
New research shows capital city rental price growth between 2012 and 2017 has been the lowest in 20 years, but one property analyst says renters may soon be shocked by added price pressures as the effects of stricter regulation on Australian property investors materialises
Questions about agent selection sites
Agencies that provide real estate agent selection services should be treated the same as financial advisers and directly remunerated by the vendor, according to the Real Estate Institute..

Read More

Confidence in NSW property drops

Latest news: Auction volumes rise across the combined capitals Surprising cities make 'promising suburbs' list Affordable locations where properties sell faster New South Wales has been drawn back to the pack as industry sentiment levels out and other states grow in confidence, according to the latest ANZ/Property Council survey.
The NSW property industry confidence index rose slightly to 141 index points, up from 140 index points in the last quarter. However, in the 12 months to June 2018, sentiment has dropped four index points.
Housing capital growth expectations continue to decline, sinking to negative 12 index points, indicating a softening market due to tighter debt financing and lower price growth.
“We are seeing a levelling of industry sentiment in NSW and other states have caught up; we are no longer the clear leader. NSW is coming off a very high peak and consumer-driven sectors such as residential and retail are contracting,” said Jane Fitzgerald, NSW executive ..

Read More

22% of homebuyers exceed their budget

Latest news: Auction volumes rise across the combined capitals Surprising cities make 'promising suburbs' list Affordable locations where properties sell faster According to a new survey by Melbourne-based ME Bank, 22% of homebuyers exceeded their spending limit when they purchased their most recent property.
Of those who went over budget, 46% exceeded it by $30,000 or more; 30% exceeded it by $50,000 or more; and 10% exceeded it by $150,000 or more.
The most common reasons for exceeding their budget were: falling in love with the property (52%), underestimating the required budget (28%), impatience (20%), underquoting by an agent (15%), and getting embroiled in a bidding war (12%).
Sixty-four percent of those who exceeded their budget admitted some sort of negative consequence. Twenty-eight percent said their overspending impacted other financial goals, 27% said they had to make changes to current spending, and 24% said they experienced emotional stress.
Homebuyers based..

Read More

NCAT cannot resolve disputes between interstate parties

Latest news: Auction volumes rise across the combined capitals Surprising cities make 'promising suburbs' list Affordable locations where properties sell faster The High Court of Australia has ruled that the NSW Civil and Administrative Tribunal (NCAT) does not have jurisdiction where one or more of the parties to the dispute are interstate.
Leanne Pilkington, president of the Real Estate Institute of New South Wales (REINSW), said the NSW Attorney General made the decision to wait for the High Court regarding the issue.
“Today’s result shows his failure to act was completely inappropriate, and with the verdict delivered, will continue to cause numerous problems with parties unable to have their disputes resolved by NCAT in the future,” Pilkington said.
“REINSW strongly lobbied the government to find a resolution and suggested replicating legislation in other states where the problems created by the NSW legislation does not exist. Amending the NCAT legislation with a simil..

Read More

Rental rates rose over the March quarter

Latest news: Surprising cities make 'promising suburbs' list Affordable locations where properties sell faster Median house price continues to surge in SA Rental rates rose over a seasonally strong first quarter, but at a slower pace than in 2017, according to CoreLogic’s Quarterly Rental Review for the March quarter.
The report measures the percentage change in rental prices over a quarterly basis. The first quarter of the year is typically the strongest for rental appreciation and growth—and this year was no exception.
Nationally, rents climbed by 0.3% in March and were 1.1% higher over the first quarter of 2018 and 2.2% higher over the 12 months to March 2018. In comparison to the first three months of 2017, when rents rose by 1.5%, growth in rental prices has slowed by -0.4%.
Rental growth over the March quarter was higher in the regional markets (+1.2%) than in the capital cities (+1%). This trend is also reflected in activity over the past 12 months, with rents up b..

Read More

Lack of transparency in agent selection services

Latest news: Median house price continues to surge in SA Latest CPI figures spell good news for homebuyers First-home buyer activity rebounds Agencies that provide real estate agent selection services should be treated the same as financial advisers and directly remunerated by the vendor, according to the Real Estate Institute of Australia (REIA).
In a submission to the ongoing Royal Commission into misconduct in the banking sector, REIA president Malcolm Gunning said there has been a proliferation of businesses that select agents for vendors looking to sell their homes.
“These businesses portray themselves as an impartial consumer advocate offering a free service to [vendors by helping them] choose the most suitable agent for marketing their property,” Gunning said. “On the surface this appears very attractive, the reality is, however, very different.
“Only those agents that are registered, or are, in some way associated with the selection service will be referred to the vendor. Th..

Read More

Auction volumes remain steady week on week

Latest news: Median house price continues to surge in SA Latest CPI figures spell good news for homebuyers First-home buyer activity rebounds The preliminary capital city auction clearance rate among the combined capitals held below 65% as auction volumes remain steady week on week, according to CoreLogic.
There were 1,890 homes taken to auction across the combined capitals in the week ending on April 15, with preliminary results showing a 64.5% success rate. In comparison, 1,839 auctions were held in the prior week and the final clearance rate came in at 62.8%.
Over the same week last year, auction volumes were significantly lower due to the Easter weekend, with just 493 homes going under the hammer across the combined capitals, although the clearance rate was a more robust 73.9%.
Preliminary clearance rates were led by Canberra (74.3%), with 78 auctions. This was followed by Adelaide (70.6%) with 65 auctions, Sydney (64.9%) with 774 auctions, and Melbourne (64.3%) with 874 auction..

Read More

Value growth for expensive properties is slowing

Latest news: Latest CPI figures spell good news for homebuyers First-home buyer activity rebounds Property News Update: 27th April 2018 The most expensive sector of the housing market is slowing rapidly, according to CoreLogic’s stratified hedonic home value index.
“The stratified hedonic index measures the change in values across three broad value based segments of the housing market: the most affordable 25% of properties, the middle 50% of properties and the most expensive 25% of properties,” said Cameron Kusher, research analyst at CoreLogic. “The index provides valuable insight into how different segments of the market are performing.”
Over the March quarter, national data shows that dwelling values were down by 0.5%. However, diving deep into the data reveals that the modest fall in values was confined to the most expensive quarter of the market.
“The most affordable properties increased in value by +0.7% compared to a +0.3% increase across the middle market and a -1.1% decline..

Read More

Need help?

0 operators online

End Chat

There was an error during connecting to the geolocalization server

Enter your email and press ENTER to receive replies directly to your mailbox

Start chatting

Enter your name and your email for start an instant conversation with us

Start Chat