L67 Property Operators and Real Estate Services

House prices fall 1.6pc in biggest decline in six years: Corelogic

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Original article by Su-Lin Tan
The Australian Financial Review – Page: Online : 2-Aug-18

Corelogic has reported that Australian house prices have fallen by 1.6 per cent in the year to July, with Sydney leading the way with a decline of 5.4 per cent. The yearly fall is the largest since 2012. Melbourne recorded the biggest drop in house prices for the three months to July, with a fall of 1.8 per cent, while it also posted the biggest fall for July (down 0.9 per cent). Tim Lawless from Corelogic expects the decline in prices to continue over the second half of 2018.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

Slowdown in east coast housing gathers speed

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Original article by Michael Bleby
The Australian Financial Review – Page: 33 : 26-Jul-18

Data from Domain Holdings shows that Australia’s median house price fell by one per cent to $802,077 in the June 2018 quarter. The median house price in Sydney eased 1.4 per cent in the quarter, to $1,144,217, with the median unit price down 0.5 per cent quarter-on-quarter. Sydney’s median house price was 4.5 per cent lower in the year to June, with the median unit price down 3.5 per cent. Meanwhile, the median house price in Melbourne fell by 1.8 per cent quarter-on-quarter, although it rose 0.5 per cent year-on-year.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, CORELOGIC AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Tough times for builders: housing starts to fall 22pc

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Original article by Michael Bleby
The Australian Financial Review – Page: 32 : 23-Jul-18

The Housing Industry Association had forecast in February that housing starts will decline to 174,880 in 2020. BIS Oxford Economics in turn has predicted that housing starts will fall from 2018’s estimated figure of 219,000 to 171,350 in 2020, equating to a 22 per cent fall. The forecast decline in housing starts is expected to be led by a significant downturn in the construction of high-density dwellings. There have been a number of building company failures in recent months, the latest being home renovator Dowling Homes.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, BIS OXFORD ECONOMICS PTY LTD, DOWLING HOMES, BRI FERRIER PTY LTD, BAYSIDE CONSTRUCT, PROJECT GROUP, WATERSUN HOMES

NAB cuts house price forecasts for two years

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Original article by Michael Bleby
The Australian Financial Review – Page: 4 : 13-Jul-18

National Australia Bank has revised its housing price forecasts for 2018 and 2019. The bank now expects house prices to fall by 1.8 per cent in 2018, compared to the 0.8 per cent decline it had forecast in April. NAB also predicts that the price of detached dwellings will fall by 0.1 per cent in 2019, having previously forecast an 0.8 per cent rise. It has also reported that property investor confidence has declined to a two-year low, while a recent ANZ/Property Council survey reported that the availability of housing finance has slumped over the past three months.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA

House prices now set for sustained decline

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Original article by Matthew Cranston
The Australian Financial Review – Page: 31 : 12-Jul-18

A survey by the ANZ Bank and the Property Council of Australia has found that confidence in the nation’s residential property market has fallen sharply. The national survey of property professionals shows that there has been a significant rise in the number of respondents who expect a further decline in house prices, particularly in Sydney and Melbourne. Respondents were also bearish regarding the availability of finance, and ANZ’s David Plank says this suggests that building approvals will fall in the next 6-12 months.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, MIRVAC GROUP – ASX MGR, STOCKLAND – ASX SGP

Retail investment rebounds to $2.4b

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 29 : 10-Jul-18

Retail real estate investment in Australia rose from just $751m in the March 2018 quarter to $2.4bn in the June quarter, according to Cushman & Wakefield. Major deals in the second quarter included the sale of a 50 per cent stake in the Grande Plaza Shopping Centre in Brisbane to Invesco for $215 million. Cushman & Wakefield expects sales activity in the sector to remain strong in the second half of 2018.

CORPORATES
CUSHMAN AND WAKEFIELD PTY LTD, CANADA PENSION PLAN INVESTMENT BOARD, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, INVESCO ASSET MANAGEMENT LIMITED, QIC LIMITED, VICINITY CENTRES – ASX VCX, STOCKLAND – ASX SGP, RAM

Private sales: houses on market longer in Sydney

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 32 : 10-Jul-18

Data from Domain Holdings shows that it now takes an average of 63 days to sell a house privately in Sydney, compared with just 45 when the market was at its peak in 2017. Likewise, the average number of days required to sell a unit has risen from 54 days to 64. Meanwhile, the average number of days that a house is on the market in Melbourne is steady at 48, while the number of days required to sell a unit has fallen from almost 100 to just 75. The average discount on advertised sale prices has risen in both cities.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, CORELOGIC AUSTRALIA PTY LTD

House prices are falling faster than expected

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Original article by Sarah Turner
The Australian Financial Review – Page: 1 & 2 : 3-Jul-18

The ANZ Bank predicted in March that Australian house prices would rise by two per cent over the course of 2018, but it now expects a decline of four per cent. The bank also expects house prices to fall by two per cent in 2019. National Australia Bank is also more pessimistic about the housing market than it was in March, while Paul Dale of Capital Economics notes that the banking royal commission has already seen banks tighten their lending standards. He says house prices could potentially fall by about five per cent in 2018-19.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CAPITAL ECONOMICS LIMITED, HSBC AUSTRALIA HOLDINGS PTY LTD, BIS OXFORD ECONOMICS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CORELOGIC AUSTRALIA PTY LTD, LAMINAR CAPITAL, LAZARD PTY LTD, RESERVE BANK OF AUSTRALIA

Sydney prices end 2017-18 down 5pc

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 3 : 2-Jul-18

Figures to be released by Corelogic on 2 July are expected to show that Sydney house prices fell by around five per cent in the 2017-18 financial year. Melbourne house prices are tipped to have remained almost flat, while dwelling values in the five main capital city markets are expected to have declined by nearly two per cent. Preliminary figures indicate that the national auction clearance rate for the weekend of 30 June-1 July was 56.7 per cent, compared with a clearance rate of 67.3 per cent for the corresponding period in 2017.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, BELLE PROPERTY PTY LTD

End in sight for housing slump

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Original article by Turi Condon
The Australian – Page: 19 : 21-Jun-18

Data from the CoreLogic-Moody’s Analytics Home Value Index shows that house prices across Australia are expected to fall by 0.5 per cent in 2018, following 8.6 per cent growth in 2017. House prices in Sydney will fall by almost five per cent in 2018, although a rebound is expected in 2019. Meanwhile, a 1.5 per cent downturn in Melbourne house is expected in 2018, with prices in Perth forecast to fall by 0.5 per cent. However, house prices in Brisbane will rise by 1.4 per cent.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, MOODY’S ANALYTICS AUSTRALIA PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE SECURITIES PTY LTD, UBS HOLDINGS PTY LTD