L67 Property Operators and Real Estate Services

Capital gains tax reform needed to address inequality

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Original article by Michael Bleby
The Australian Financial Review – Page: 25 : 27-Aug-25

The National Housing Supply & Affordability Council’s chair Susan Lloyd-Hurwitz was one of the participants in the federal government’s economic reform roundtable. She contends that a "very large conversation" is needed with regard to intergenerational inequity and intra-generational inequality; Lloyd-Hurwitz adds that any such discussion must include changes to the capital gains tax regime for investment properties, in order to address the issue of housing inequality. Lloyd-Hurwitz is the former CEO of listed property developer Mirvac Group.

CORPORATES
AUSTRALIA. NATIONAL HOUSING SUPPLY AND AFFORDABILITY COUNCIL, MIRVAC GROUP – ASX MGR

Rate hold may take wind out of home sales

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Original article by Lucy Slade
The Australian Financial Review – Page: 25 : 9-Jul-25

AMP’s chief economist Shane Oliver says the Reserve Bank’s decision to leave the cash rate unchanged on Tuesday is likely to "dampen down" enthusiasm among prospective home buyers. He adds that while the decision will not led to a dramatic shift in sentiment, buyers are likely to be a bit more cautious. Oliver had thought there was an 80 per cent chance of a rate cut in July, but he expects the next cut to occur in August. Eliza Owen from Cotality believes that a rate cut next month is almost certain.

CORPORATES
AMP LIMITED – ASX AMP, RESERVE BANK OF AUSTRALIA, COTALITY

Gurner warns tenants of 15-year rental crisis

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Original article by Sarah Petty
The Australian Financial Review – Page: 9 : 14-May-25

Data from Cotalitys shows that housing market rents have increased by 39.9 per cent since March 2019. Rent payments now account for about one-third of many tenants’ income. Apartment developer Tim Gurner has warned that the nation’s rental crisis is likely to last for up to 15 years, due to the lack of sufficient new housing supply. He notes that vacancy rates are about one per cent in every state, while construction supply is at a 10-year low and population growth is at record levels. Gurner adds that high construction costs are the biggest problem for property developers.

CORPORATES
COTALITY

Poll result opens door for housing market

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Original article by Nila Sweeney
The Australian Financial Review – Page: 28 : 7-May-25

Real estate agents note that there has been an increase in the number of homes listed for sale in the last week. BresicWhitney CEO Thomas McGlynn expects this momentum to continue in the next week or so, after Labor secured majority government at the federal election on Saturday. Melbourne-based buyers’ agent Cate Bakos in turn says enquiries from prospective home buyers have also increased in the wake of the election, while Eliza Owen from Cotality says first-home buyers will return to the market when election policies that target them start to be implemented.

CORPORATES
BRESIC WHITNEY ESTATE AGENTS PTY LTD, COTALITY

Australia does not have enough tradies to fulfill Labor’s housing promise, experts say

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Original article by Luca Ittimani
The Guardian Australia – Page: Online : 15-Apr-25

About 170,000 new homes are currently built nationwide every year, but Labor aims to lift this to 250,000 annually for the next four years it wins the federal election on 3 May. However, the Housing Industry Association’s chief economist Tim Reardon contends that labour constraints within the construction industry means that the nation currently has the capacity to build 200,000 to 220,000 new homes each year. The HIA estimates that an additional 80,000 tradespeople are required nationwide. Reardon notes that many ‘tradies’ are opting to move to industries such as mining, while many school leavers are rejecting a career in the construction sector.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY

Australia’s median home value has increased by about $230,000 in past five years, data shows

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Original article by Cait Kelly
The Guardian Australia – Page: Online : 9-Apr-25

Data from CoreLogic has underlined Australia’s housing affordability crisis, with the median dwelling price rose by 39.1 per cent over the five years to March 2025. CoreLogic economist Kaytlin Ezzy says this equates to an increase of about $230,000 in the median price. The data also shows that the price of an average home reached a record high of 8.0 times the median income at the end of 2024; this compares with a housing values to incomes ratio of just 4.6 per cent in 2001 and 6.5 per cent in 2020.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

Australian house prices hit new peak for 2025 as rate cut drives buyer demand

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Original article by Cait Kelly
The Guardian Australia – Page: Online : 1-Apr-25

Data from CoreLogic Australia shows that house prices rose by 0.4 per cent nationwide in March; it was the second successive month of house price growth, and followed a decline of 0.5 per cent over the three months to December. Tim Lawless from CoreLogic – which is rebranding as Cotality – attributes the "pretty mild turnaround" to improved consumer sentiment in response to the Reserve Bank’s interest rate cut in February. Separate data from PropTrack shows that dwelling prices rose in every capital city in March.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, PROPTRACK PTY LTD, RESERVE BANK OF AUSTRALIA

Middle-income Australians experiencing rental stress with a third of pay spent on housing, report shows

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Original article by Cait Kelly
The Guardian Australia – Page: Online : 15-Jan-25

Data from Corelogic shows that housing rents increased by just 4.8 per cent nationally in calendar 2024, compared with 8.3 per cent in the previous 12 months. However, CoreLogic economist Kaytlin Ezzy says that households on the median income were still spending 33 per cent of their pre-tax income on rent charges in September 2024. CoreLogic’s figures also show that rents have increased by 36.1 per cent nationally since the start of the pandemic. Maiy Azize from the Everybody’s Home campaign has called for rent increases to be capped and more government investment in public housing.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, EVERYBODY’S HOME

Home values fall but rates could save the day

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Original article by Nila Sweeney
The Australian Financial Review – Page: 25 : 11-Dec-24

Data from CoreLogic shows that house prices in Sydney have fallen by 0.4 per cent in the last four weeks, while the Melbourne housing market is down 0.5 per cent. Tim Lawless from CoreLogic expects the residential market to be "subdued" until the Reserve Bank starts reducing the cash rate. ANZ Bank economist Madeline Dunk says the central bank is likely to announce the first rate cut in May, although she adds that February remains a possibility. AMP’s chief economist Shane Oliver in turn says a rate cut in February would put a floor under house prices.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AMP LIMITED – ASX AMP

Glut forces home sellers to cut prices

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Original article by Nila Sweeney
The Australian Financial Review – Page: 29 : 4-Dec-24

Data from SQM Research shows that the average asking price for homes in Sydney has fallen by 0.9 per cent in the last month, while asking prices in Melbourne are down 0.7 per cent. SQM Research MD Louis Christopher says the downturn in asking prices began in October, in response to a sharp increase in the volume of properties that are listed for sale. The number of dwellings that have been on the market for more than six months has also risen sharply; BresicWhitney CEO Thomas McGlynn says many of these homes are likely to be withdrawn from sale in coming days and returned to the market in early 2025.

CORPORATES
SQM RESEARCH PTY LTD, BRESIC WHITNEY ESTATE AGENTS PTY LTD