Source: Dr Shane Oliver, AMP Capital - 15/03/2017
Key points
The Sydney and Melbourne property markets have hotted up again and high house prices and household debt leave Australia vulnerable. But a property crash remains unlikely.
Expect average home prices to fall 5-10% once an interest rate tightening cycle gets underway in 2018-19. Sydney and Melbourne unit prices are most at risk.
More macro prudential measures to slow property demand are likely on the way....
Source: Australian Property Journal
MEDIUM and high density apartments supply in inner city Brisbane are beginning to outstrip demand, with vacancies having reached 4.4% almost at a decade high.
REIQ data show regional Queensland recorded strong vacancy improvement over the March quarter, however the strong level of apartment supply within 5kms of the Brisbane CBD over the past 18 months has pushed vacancy rates up from 3.6% in December quarter to 4.4% in March, which is significan...
Foreign ownership of new developments will be restricted, there will be steeper charges applied to purchases, less favourable tax treatment and charges on those with empty properties, in a raft of measures in the federal budget aimed at taking the sting out of the housing market.
One measure to be introduced from Tuesday is for foreign buyers to be slugged a fee for having a property that sits empty for six months or more in a year.
Those who don't have a tenant in their property,...
Source: Choice.com.au
Figuring out what a property's worth is a tricky task, and when the market's hot, prices can change quickly. But an accurate assessment of the value is critical if you don't want to pay too much when you're buying, or miss the mark on your home's value when selling.
Luckily, there are a bunch of resources out there to help some are free, while others will cost you. But how reliable are these sources, and how much do they differ in the...
The latest stats are out on Brisbane's rental market. The Residential Tenancies Authority records the rent when a new bond is lodged and each quarter we analyse the results and get a handle on emerging trends. Here's the numbers for the March quarter released last week:
Across Brisbane median weekly rent for a 2 bed apartment was flat at $420
On average, inner-city suburbs dropped $5 to $480/week (after a $5 rise in the previous quarter).
R...
Source: Myriam Robin
Foreign buyers are purchasing new housing in New South Wales and Victoria at a rate of $8 billion a year - a figure the equivalent of one in five new homes completed across the two states.
The figures, available for the first time through a freedom of information request, come from state governments which now collect taxes from foreign buyers when the property is settled. The figures reveal the size, source and changes in foreign demand for Aus...
Liz Jordan, Australian Property Journal
POPULATION growth will soften a housing downturn in Australia, according to UBS.
According to UBS, population growth lifted at 0.4% over the third quarter of 2016, at 1.5% or 349,000 people year-on-year, which is the equal fastest rate since the opening quarter of 2014.
"For housing, while a sharp lift in dwelling completions and consequent jump in vacancy (and weaker rents) likely still lies ahead, this 'people boom...
Brian Bennion, South-East Advertiser
PLANS to remove more than one-third of the character zoning from parts of Camp Hill and Coorparoo have been dropped under a revision to the draft Coorparoo and Districts Neighbourhood Plan.
The council had planned to remove more than 1500 homes from the traditional building character overlay, but it was confronted by hundreds of residents opposing the plans at community meetings and information sessions.
The council received 170 written subm...
Source: Ross Gittins, brisbanetimes.com.au
If you learn nothing else about the economy, remember that it moves not in straight lines but in cycles of good times followed by bad times, and bad times followed by good.
Nowhere is that truer than with our famed "two-speed economy".
For most of the decade to 2012, the resources boom meant that the two main mining states Queensland and, especially, Western Australia were growing much faster than the rest of the economy, which ...
Source: Kieran Clair, realestate.com.au
Westpac chief economist Bill Evans says regulators are set to get tougher on investor loans.
Westpac chief economist, Bill Evans, said a nervous regulator will look to ease investor activity in the property market during 2017.
Speaking in Brisbane today at an Australian Property Institute event, Mr Evans said high house prices fuelled by investor demand are causing concern for the Reserve Bank of Australia.
"We find ourselves ...
