Generation Rent: Aussies who fear they’ll rent forever

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Kirsten Craze| Daily Telegraph| 27 September 2019 https://www.news.com.au/finance/real-estate/generation-rent-aussies-who-fear-theyll-rent-forever/news-story/536bfb623c91856eb0416922617beced A growing number of Australians are becoming part of ‘Generation Rent’. Picture: Jason EdwardsSource:News Corp Australia Australia’s “generation rent” is a growing breed, but property and finance experts believe there is light at the end of the tenant tunnel for those who can think outside the box. More than a third of …

Styling your home for sale: Do you buy or hire the furniture?

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Louisa Simmonds| Domain| 26 September 2019 https://www.domain.com.au/living/styling-your-home-for-sale-do-you-buy-or-hire-the-furniture-881999/ Despite what market reports are currently claiming, two facts remain when it comes to selling: some vendors will always have to sell, and spring is one of the best times of the year to do it. However, in an uncertain market, vendors also need to consider their marketing costs more carefully, which begs …

Sydney median house price rises in June quarter

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Michael Bleby| Australian Financial Review| 17 September 2019 https://www.afr.com/property/residential/sydney-median-house-price-rises-to-875-000-20190917-p52s44 Sydney’s median house price rose to $875,000 in the June quarter, marking the first increase in a year as buyers returned to the market after the federal election and greater optimism about prospects for the property market. The higher median price – up from $870,000 in the previous three months – …

Home loan restrictions ‘torturous’, CEOs say

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Matthew Cranston| Australian Financial Review|26 September 2019 https://www.afr.com/policy/economy/property-lending-restrictions-torturous-chief-executives-20190926-p52v1y The chief executives of Australia’s biggest real estate companies are backing the government’s calls to break overly stringent lending restrictions to get credit flowing again and avoid a dangerous slowdown in construction. Speaking at The Australian Financial Review Property Summit in Sydney, the CEOs also demanded that the government start to act …

‘Don’t force banks to curb loans’

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Matthew Cranston| Australian Financial Review| 26 September 2019 https://www.afr.com/policy/economy/treasurer-to-rein-in-asic-on-home-loans-20190925-p52utj?fbclid=IwAR3TcwNdxK3uFb4agZ23jHE2UTvbPaVDttWXP6OkZyzRIQ2ZmoFhyE7VTt8 Treasurer Josh Frydenberg has pushed back against regulators being too stringent in enforcing responsible lending rules, warning that this could penalise “hard-working families” trying to get a housing loan and hurt the economy. In a speech to The Australian Financial Review’s Property Summit in Sydney on Thursday, Mr Frydenberg welcomed the …

Bank Funding Eases

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Pete Wargent BlogSpot| 20 August 2019 https://petewargent.blogspot.com/2019/08/bank-funding-eases.html Funding costs fall There was a lot of hype about rising interest rates and funding costs last year, but that’s all dissipated. Both 3-month and term are where Aussie banks hedge, fund, and borrow, and deposit flows have been solid.  3-month bills are now tracking at under 1 per cent.  As appetite for …

Upside-down economy: The Banks Charging the Rich to Deposit their Money

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Jonelle Marte| Sydney Morning Herald| 22 August 2019 https://www.smh.com.au/business/banking-and-finance/upside-down-economy-the-banks-charging-the-rich-to-deposit-their-money-20190821-p52j4l.html The typical banking relationship looks something like this: Banks pay interest to depositors. Then they use that cash to issue loans and charge borrowers a fee, pocketing the difference. But in some parts of the world, that relationship has been turned on its head. Banks in Denmark and Switzerland recently announced …

Sydney leads auctions to two-year high

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Larry Schlesinger| Australian Financial Review| 18 August 2019 https://www.afr.com/property/residential/sydney-leads-auctions-to-two-year-high-20190817-p52i6n The national auction clearance rate surged to a two-year high of 76.6 per cent this week based on preliminary CoreLogic figures, providing strong evidence of further strengthening of house prices this month. This was well above last week’s final clearance figure of 67.8 per cent, despite the total number of scheduled …

A Legacy of Defects

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Sean Nicholls, Sharon O’Neill and Naomi Selvaratnam| ABC| 18 August 2019 https://www.abc.net.au/news/2019-08-18/how-bad-could-the-apartment-building-crisis-be-in-your-state/11413122 For the past two decades, Australia has been in an apartment building boom. Governments have got out of the way, removing red tape and introducing private certification for an industry that’s worth more than $141 billion*. But when Sydney’s Opal and Mascot Towers were evacuated because of structural …