Record property prices still climbing

Original article by Mackenzie Scott
The Australian – Page: 15 : 9-Apr-21

New figures show that house prices in Australia’s capital cities increased by 5.6 per cent in the March quarter. House prices rose by 2.8 per cent nationally in March, and Eliza Owen of CoreLogic says the combined value of Australian dwellings topped $7.9trn during the month. Meanwhile, the national median house price is now 5.6 per cent above the previous market peak in 2017.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

Building approvals bounce back on HomeBuilder

Original article by Michael Bleby
The Australian Financial Review – Page: 39 : 1-Apr-21

Data from the Australian Bureau of Statistics shows that approvals for stand-alone homes increased by nearly 14 per cent month-on-month in February, to 14,072 in seasonally adjusted terms. Approvals for apartments and townhouses increased by 49 per cent to 5,350; however, this followed a 39 per cent fall in January. Economists say the federal government’s HomeBuilder scheme has been a major catalyst for the strong demand for housing.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Co-working occupancies coming back to life after brutal year

Original article by Martin Kelly
The Australian Financial Review – Page: 31 & 32 : 17-Feb-21

Hub Australia CEO Brad Krauskopf says the average occupancy rate across his company’s eight co-working sites is currently around 70 per cent. This remains well below the pre-coronavirus average of more than 90 per cent, but Krauskopf notes that there has been a 250 per cent increase in enquiries since the start of 2021. The Commons’ MD Cliff Ho says occupancy at its Sydney Central site is almost back to the pre-pandemic level, although occupancy at its four sites in Melbourne is currently at around 70-75 per cent.

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HUB AUSTRALIA PTY LTD, THE COMMONS

The Agency to defy debt claim with sales jump

Original article by Lachlan Moffet Gray
The Australian – Page: 16 : 25-Jan-21

Real estate group The Agency has reported revenue of $29.1 million for its latest first half, with the result being a record for the company. Unaudited EBITDA for the half came in at $1.6 million, excluding government benefits like JobKeeper, while the company recorded positive operating cashflow of $1.54 million. The record revenue result came just days after a creditor sought to place The Agency in administration over a disputed fee of $385,000.

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Surging house approvals make for strong year of home-building

Original article by Michael Bleby
The Australian Financial Review – Page: Online : 8-Jan-21

Approvals for detached homes rose 5.9 per cent to 11,712 in November, making it the highest figure since December 1999. This is according to figures released by the Australian Bureau of Statistics on 7 January, which also reported that approvals for apartments and other attached dwellings declined by 3.9 per cent, with total approvals being up 2.6 per cent. Detached home approvals in Queensland were up almost 17 per cent, while approvals in Western Australia were up seven per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

The year regional housing turned property on its head

Original article by Michael Bleby
The Australian Financial Review – Page: Online : 5-Jan-21

Regional property values rose by 6.9 per cent in the 12 months to December, according to figures released by CoreLogic on 4 January. Property values for the combined capital cities rose by just two per cent, and it was the first time in almost 15 years that regional values had risen at a greater rate than metropolitan values, as the pandemic saw urban residents move to rural areas for more space and greater safety. The number of transactions in 2020 was up nine per cent on 2019, although the volume of listings was down 21 per cent.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

House prices on track for record high by February

Original article by Ingrid Fuary-Wagner
The Australian Financial Review – Page: 31 : 2-Dec-20

Data from CoreLogic shows that residential property prices rose by 0.8 per cent nationwide in November. House prices increased by 0.4 per cent month-on-month in Sydney, while Melbourne’s housing market recorded 0.7 per cent growth following a decline in October. Tim Lawless of CoreLogic says the housing market could be on track to recover from the coronavirus-induced downturn by January or February, assuming the current growth momentum is sustained.

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CORELOGIC AUSTRALIA PTY LTD

Auction clearance rates surge

Original article by Michael Bleby
The Australian Financial Review – Page: 10 : 2-Nov-20

The national auction market recorded a preliminary clearance rate of 77 per cent for the week to 31 October, according to CoreLogic. The Melbourne market recorded a preliminary clearance rate of 75.8 per cent, while the Sydney market recorded a preliminary clearance rate of 79.6 per cent. Meanwhile, figures to be released by CoreLogic on 2 November will reveal that home values across the five Australian mainland capitals rose by 0.1 per cent, with Adelaide recording the biggest increase at 1.2 per cent.

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CORELOGIC AUSTRALIA PTY LTD

Valuer Acumentis predicts rise in distressed sales

Original article by Michael Bleby
The Australian Financial Review – Page: 32 : 30-Oct-20

Listed valuation firm Acumentis has reported revenue of $13.4 million for the September quarter, compared with just $8.4 million for the entire 2019-20 financial year. The firm has posted a pre-tax profit of $1.6 million for the quarter. Acumentis notes that it is benefiting from an improvement in residential activity, while it predicts an increase in forced home sales as JobKeeper payments and mortgage repayment deferral periods end.

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ACUMENTIS GROUP LIMITED – ASX ACU

Fitch tips 10pc fall in house prices as immigration weakens

Original article by Ben Wilmot
The Australian – Page: 15 : 23-Sep-20

Fitch Ratings has forecast that housing prices in Australia will fall by 5-10 per cent over the next 12-18 months. The credit ratings agency says the reduction in net immigration due to COVID-19 travel restrictions and the resulting impact on population growth will weigh on the residential market; it also warns that the restrictions are unlikely to be eased well into 2021. The National Housing Finance & Investment Corporation recently estimated that underlying demand for new houses and apartments could fall by up to 232,000 over the next three years as a result of the coronavirus.

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FITCH RATINGS LIMITED, NATIONAL HOUSING FINANCE AND INVESTMENT CORPORATION – ASX NFI