Source:  NGU Real Estate - Ipswich Local Sales and Rental Update This last month for our Property Management Team has been a busy & an unusual one. From changing our daily practices through to making sure our clients and their properties are being managed at a high level. We are proud of our team and their commitment to their positions. This April we have rented 29 properties which is a mammoth month for our office. Sales is also still strong. We believe at this stage our market ...

Source: Corelogic The economic slowdown resultant from COVID-19 has changed working conditions for many. But quantifying the impact on labour markets at this stage is difficult. The latest unemployment data from the Australian Bureau of Statistics does not tell us much about how the labour market has changed. That is because labour market data is not real time, but instead references the first two weeks of the previous month to the data release date. The start of the economic slowdown...

Source: IRWA - Shellie Rabago   I'm always excited to get a new project. Although I realize it means that I will be crazy busy for the next few months, it also means I have the opportunity to meet an eclectic group of people I wouldn't typically get the chance to encounter. Over the past several years I have worked with many large corporations, families and even a few famous people. Convincing owners to sell their property to a condemning agency, even if it's a partial ...

Source: CoreLogic The coronavirus outbreak clearly presents some downside risk for the Australian housing market, but ultimately, the impact remains highly uncertain. New information and policy responses are unfolding daily, making it impossible to provide a reasonable forecast of capital growth. Some added context however, is remembering the fundamentals of the property market, and idiosyncrasies of a pandemic-led downturn. Property is less volatile and slower to respond to market shoc...

Source:  Brisbane Times Given the rapid deterioration in Australia's economic outlook as the coronavirus causes the closure of borders and restrictions on movement, global investment banking giant Goldman Sachs now forecast the sharpest annual GDP contraction since the Great Depression of the 1920s. The Australian economy will shrink 6 per cent in 2020 versus last year, economists led by Andrew Boak wrote in a report dated March 20. Most of the contraction is expected to be d...

Source:  Australian Property Journal THE coronavirus pandemic and social distancing measures has likely put an end to the resurging housing market, and it is unlikely to simply bounce back post covid-19, according to ANZ Research. ANZ senior economist Felicity Emmett and market economist Hayden Dimes said prior to covid-19 taking hold in Australia and resulting in the government shutting down parts of the economy, one sector that continued to surprise on the upside was housing. ...

Source: Business Insider While the coronavirus takes global stock markets for a wild ride, it's left Australia's sacred cow, its beloved property market, well enough alone. Take auction clearance rates, one of the market's leading indicators, for example. Over the weekend they showed the first signs of softening, although haven't fallen significantly yet. "The impact so far has been pretty muted. Clearance rates have been down a touch but they'll still be pretty...

Source:  Australian Property Journal   THE property industry has welcomed the federal government's $17.6 billion targeted stimulus package in response to the coronavirus (covid-19) pandemic, but said significant challenges remain for the Australian economy. The Urban Development Institute of Australia's national executive director Connie Kirk said the stimulus should help maintain cash flow, jobs and business activity across the economy but also urged the government ...

Source:  Corelogic   The narrative of over-supply and under-performance in Brisbane units has dominated conversations around south-east Queensland property for almost 5 years. At January 2020, Brisbane unit values remain 11.5% below their 2010 peak to be at similar levels to 2007. But the latest data on property values, construction and population growth suggest that the story is changing. It is worth noting that over-supply is very much a unit-centric story. Houses across Bri...

Source:  Chris herde, The Courier-Mail Confidence is returning to the Brisbane inner city apartment market as vacancy tightens and developers start planning new projects. RENTS are expected to rise as the Brisbane inner city apartment market continues to tighten with oversupply hitting its peak four years ago. According to JLL's latest 4Q 2019 Residential Apartment Market Report inner city apartment completions across Australia's capital cities fell 21 per cent last year....