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.

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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.

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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

Native title challenge to Forrest deal

Original article by Paige Taylor
The Australian – Page: 2 : 14-Jul-20

Billionaire miner and philanthropist Andrew Forrest and his wife Nicola have bid to buy two adjoining cattle stations in the Kimberley region of Western Australia. Traditional owners of the Fitzroy also bid for the Jubilee Downs and Quanbun Downs stations, but they bid $25 million, while the Forrests are believed to have bid $30 million. The Yanunijarra Aboriginal Corporation has asked WA Lands Minister Ben Wyatt to intervene in the transfer of the leases of the two stations to the Forrests, and a spokesperson for Wyatt says transfers of pastoral leases are subject to a public interest test if they result in the holder of the lease exceeding 500,000 hectares.

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YANUNIJARRA ABORIGINAL CORPORATION, WESTERN AUSTRALIA. DEPT OF LANDS

HomeBuilder scheme prompts oversupply fears

Original article by Nila Sweeney
The Australian Financial Review – Page: 31 : 9-Jul-20

Some residential property developers have reported a sharp rise in sales since the federal government announced its six-month HomeBuilder scheme in June. Cedar Woods’ chief financial officer Leon Hanrahan has warned that some developers could overbuild in response to the scheme, resulting in an oversupply of new housing. Jeremy Sheppard of Select Residential Property says the risk of an oversupply is particularly high at housing estates in the outer suburbs of capital cities.

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CEDAR WOODS PROPERTIES LIMITED – ASX CWP, SELECT RESIDENTIAL PROPERTY

State delays hold up HomeBuilder grants

Original article by Nila Sweeney
The Australian Financial Review – Page: 33 : 16-Jun-20

Housing Minister and Assistant Treasurer Michael Sukkar says there is a lot of interest in the federal government’s HomeBuilder scheme. He says there have been more than 296,000 visits to the HomeBuilder website and over 23,000 people have registered their interest in the scheme. However, mortgage brokers claim that they have not yet been able to get any borrower processed under the scheme, as the states have not yet signed up to it. Homeloanexperts.com.au MD Otto Dargan says it is still waiting to hear from the appropriate state government bodies on advice as to how the scheme will work.

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AUSTRALIA. DEPT OF THE TREASURY, HOMELOANEXPERTS.COM.AU