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...

Source: Courier Mail A Brisbane man is reliving a nightmare as he battles the Brisbane City Council for the second time in a decade over the resumption of his land.     The BCC wants to take a chunk out of 11 front yards along Grange Rd, Grange to widen an arterial road and improve an intersection which is a traffic jam during morning peak hour. The projects means Grange Rd, which carries 29,000 vehicles a day, will be within a few metres of Paul Kelsal...

Source: Australian Property Journal THE Labor party's policies on negative gearing and to half the capital gains tax discount to 25% will reduce the supply of new housing and decimate the property market, according to industry groups. According to modelling prepared by Cadence Economics, if the policies are implemented, it will see up to 42,000 less new dwellings built across the country; up to 32,000 less full-time jobs; up to $11.8 billion less building activity and up to $21...

Source OilPrice.com People are willing to pay a premium for energy-efficient homes, according to new research. Georgia Warren-Myers, a property lecturer at the University of Melbourne and Franz Fuerst of the University of Cambridge analyzed tens of thousands of property transactions over five years, from 2011-2016, in Australia's Capital Territory, where mandatory disclosure has been in place since the late 1990s. "The data shows people are valuing energy efficiency an...

By David Scutt If the chart below is anything to go by, times are getting tougher for any individual, business or government that relies upon turnover in Australia's housing market. From CoreLogic, it shows the amount of settled housing transactions in Australia on a six-month moving average basis. For clarity, CoreLogic says off-the-plan sales are not counted until completion, meaning there will be some upwards revision to recent sales ...

Source:  ATO Purchasers of new residential premises or potential residential land now have to pay the GST directly to us as part of the settlement. These changes started on 1 July 2018. The amount of GST hasn't changed, just who is required to pay the GST to us. You now pay the GST directly to us instead of paying it to the developer as part of the purchase price. You won't have to register for GST to make this payment to us. When you make a payment ensure ...

Source:  Australian Property Journal OPINION: A RECENT Supreme Court of NSW decision in Huang & Anor v Ceylan has implications for valuers, vendors and buyers of property, according to lawyers. Introduction It is, unfortunately, not an uncommon practice to see home units (and houses for that matter) advertised as having 3 bedrooms, when they were originally approved and constructed as 2 bedroom dwellings. This practice leaves purchasers especially vulnerable if they ha...

Source:  CoreLogic Over the 12 months to April 2018, dwelling values across the combined regional markets have increased by 2.4% compared to a -0.3% fall in values across the combined capital cities.  Although values in regional areas are continuing to rise, the rate of annual growth has slowed from a recent peak of 6.4% in June 2017, although the rolling quarterly rate of growth has shown an accelerating trend over the past six months. Based on the 'Statistical Area ...