Source:  Australian Property Journal Consolidated Properties Group and CVS Lane Capital Partners have unveiled the $850 million masterplan for the Yeerongpilly Green urban renewal project in south west Brisbane. The developers are looking to transform the 14-hectare riverside site into an urban village and cultural, music and arts hub, with 1,200 residences, 28,000 sqm of commercial space, an 8,750 sqm retail and dining precinct, and 1.8 hectares of parkland. The first residentia...

Source: Experts Direct - Llewellyn Horgan What strengthens an expert opinion? In Eckford v Six Mile Creek Pty Ltd (No 2) [2019] FCA 1307, the court emphasised three aspects of expert reporting that help to demonstrate the reliability and strength of expert opinions. Background: The Applicant in this matter purchased a seafront property. He alleged that the Respondents (the previous owners of the property) represented that he would enjoy unobstructed scenic views of both the nearby ...

Source:  Corelogic   CoreLogic head of research Tim Lawless said, "Our national dwelling value index may have found a floor in July, with dwelling values holding firm over the month following a consistent trend towards smaller month-on-month declines through the first half of the year. Since peaking, the national index is down 8.3%." "The stabilisation in housing values is becoming more broadly based, with five of the eight capital cities recording a su...

Source: Brisbane Times   Official data showing further falls in new housing approvals and ongoing weakness in the apartments market have reaffirmed warnings of more pain to come in the building industry, including the potential loss of 100,000 jobs. In seasonally adjusted terms, a 6.5% drop in the weakened attached housing segment, which includes apartments and townhouses, dragged the national total to a 1.2% fall, according to the Australian Bureau of Statistics. Detached...

Source - Australian Property Journal BRISBANE will lead the nation for price growth over the next three years, with a forecast 20% rise in house and 14% in apartment prices outpacing all capital cities as Australia's residential market recovers from the downturn. According to BIS Oxford Economics' Residential Property Prospects 2019 to 2022 report, despite being on the brink of the bottom, the market will have to wait for any "meaningful recovery". Reductions ...

Source:  CoreLogic   Although at a broad level dwelling values are still trending lower across the regions of Australia, the pace of declines eased further in May, continuing a trend that has been evident since the beginning of 2019. Nationally, dwelling values were down 0.4% in May, which was the smallest month-on-month decline since May 2018. CoreLogic head of research Tim Lawless said, "This improvement is primarily being driven by a slower rate of decline in...

Source:  Cameron Kusher - CoreLogic Data for lending to households and businesses data for December 2018 was released earlier this week. This data series replaces the old housing finance and lending finance series and includes some different data. Specifically focusing on lending to households the data shows that the weakening of demand for mortgages has continued. Investor mortgage lending has been weakening for some time however, over recent months there has been a rapid slo...

Source:  Australian Property Jornal - Liz Jordan HOUSEHOLD lending continued to fall in December, with numbers down across owner occupier and investment dwelling segments as the residential market continued to weaken. Official data released showed the seasonally adjusted value of new lending commitments for investment dwellings plummeted by 27.8% year-on-year, and by 16.2% for owner occupiers. Seasonally adjusted, total lending to households came in $32.025 billion. There ...

Source:  livewiremakrets.com - Pete Wargent In early 2018 I wrote on Livewire that the year ahead would be a mixed bag for housing, as tightness in markets like Hobart contrasted the negative outlook for Sydney, which appeared to be at a market-top. As the year played out, a number of the concerns raised came to the forefront of the property discussion. As a result, the team at Livewire got in touch and asked me to update my views on the housing market. In this exclusive article, ...

Source: CoreLogic The May CoreLogic home value index results out today confirm that national dwelling values dipped by 0.1% over the month, fuelled by weaker conditions in Melbourne and Sydney while regional dwelling values continued to tick higher. Australian dwelling values slipped 0.1% lower in May, taking the annual change (-0.4%) into negative territory for the first time since October 2012. In a sign the housing market downturn is becoming more entrenched, May marked the eigh...