The Problem with Property Doomsayers

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Jessica Irvine| Sydney Morning Heralds| 27 August 2017 http://www.smh.com.au/business/the-economy/the-problem-with-property-doomsayers-20170826-gy4r4q.html The team at ABC’s Four Corners assembled a thrilling package about the Australian property boom last Monday. It came replete with forecast of the “perfect storm” for property and an inevitable popping of the property “bubble”. It’s true that the biggest threat to the housing market is the extent to which naive …

It looks like interventions to curb investor heat in Australia’s property market are working

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David Scutt| Business Insider| 29 August 2017 https://www.businessinsider.com.au/apra-investor-lending-measures-review-2017-8 Earlier this year APRA, Australia’s banking regulator, announced further measures to control building financial risks in the Australian property market, limiting the proportion of new interest-only lending to 30% of total new residential mortgage lending. On a top of a 10% annual cap on investor credit growth that was first introduced in …

Hobart is ‘Best Performing’ Market as Sydney Slows

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David Chau| ABC| 1 September 2017 http://www.abc.net.au/news/2017-09-01/sydney-housing-market-slows-down-while-hobart-surges/8862594?section=business Hobart has been crowned the “best-performing” housing market in the past year, while Sydney’s growth has slowed, a national house price report has found. Key points: Across all markets, home prices were flat in August as Sydney continues to cool Hobart is now the hottest market, up 0.6pc over the month and 13.6pc …

‘Orderly Unwinding’ in Housing Market Likely: S&P

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Lucy Dean| Mortgage Business| 7 August 2017 https://www.mortgagebusiness.com.au/breaking-news/11354-orderly-unwinding-in-housing-market A “sharp correction” in the housing market is unlikely to occur in the next two years, but an “orderly unwinding” is on the cards, S&P has said. Sharad Jain, director of financial services ratings at S&P Global Ratings, has predicted an “orderly unwinding” in the property market as a result of regulatory …

The Contenders – Who Will Nail House Price Growth Forecast

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Matthew Cranston| Australian Financial Review| 25 July 2017 http://www.afr.com/real-estate/the-contenders-who-will-nail-house-price-growth-forecast-20170718-gxd9sq With talk of an interest rate rise on Melbourne Cup day house price pundits are getting nervous about their calls on house price growth. Goldman Sachs puts the chance of a rate hike in November at 60 per cent. That would be the first Reserve Bank of Australia interest rate increase …

Australian house prices have steadied, and auction clearance rates are climbing back

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David Scutt| Business Insider| 24 July 2017 https://www.businessinsider.com.au/australian-house-prices-steadied-last-week-after-strong-gains-earlier-in-the-month-2017-7 Australian capital city house prices steadied last week after strong gains earlier in the month, according to data released by CoreLogic today. On an average weighted basis, prices fell by 0.1% across Australia’s five mainland state capitals, led by a 0.6% pullback in Brisbane. Elsewhere prices in Sydney and Melbourne were flat …

Australia central bank – no automatic reason to follow global rate hikes

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Swati Pandey & Wayne Cole| Reuters| 22 July 2017 http://www.msn.com/en-au/money/finance-marketnews/australia-central-bank-no-automatic-reason-to-follow-global-rate-hikes/ar-AAowNRt?li=AA54Gb&ocid=spartandhp The recent outbreak of hawkishness by policymakers in the western world does not automatically mean that interest rates need to rise in Australia, a top central banker said on Friday. Canada’s central bank increased interest rates to 0.75 percent this month while the U.S. Federal Reserve has raised rates four …

How to tell when the housing market is slowing

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Chyi Lin Lee| The Conversation| 5 July 2017 https://theconversation.com/how-to-tell-when-the-housing-market-is-slowing-80072 Looking at data, there is no evidence to support the notion that house prices have peaked or are on the cusp of a downward trend. House prices in Australian capital cities rose slightly in June after falling in May. But house price indexes only show what’s happening in the market over …

Expect a Flurry of Mortgage Rate CUTS!

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Martin North| Digital Finance Analytics| 24 July 2017 http://www.digitalfinanceanalytics.com/blog/ The round of mortgage rate repricing which we have been tracking for the past few weeks, with investor loan portfolios being strongly repriced, and owner occupied loans less impacted, has created a significant well of opportunity for banks to selectively offer attractor rates to principal and interest borrowers. In addition, funding …

State and Territory Benefits for First Home Buyers

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The first home benefits have changed dramatically this year with more changes due from 1 July 2017. All of the grants and stamp duty concessions are state administered so vary in each state and Territory. Most concessions for first home buyers have only been available for new properties. Now there are several states with concessions that include established properties. The …