REAL ESTATE – AUSTRALIA – REGULATION

First-timers, low earners in housing crunch

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Original article by Nila Sweeney
The Australian Financial Review – Page: 31 : 17-Apr-24

A report from the ANZ Bank shows that the average proportion of income that is needed to service a new mortgage rose to 48.9 per cent nationwide in the March quarter; this compares with 43.1 per cent during the same period in 2023. The ANZ Housing Affordability report also reveals that it now takes an average of 10.3 years to save enough money for a house deposit. Meanwhile, ANZ found that the average renter must now allocate 32.2 per cent of their income to rent; this rises to 54.3 per cent for low-income earners.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Higher rates are unlikely to erase house price gains

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Original article by Nila Sweeney
The Australian Financial Review – Page: 30 : 15-Jun-23

Data from CoreLogic shows that house prices rose by 2.3 per cent nationally over the last three months, including 1.2 per cent in May. HSBC’s chief economist Paul Bloxham says factors such as rising interest rates and a slowing economy may affect the pace of growth in house prices but are unlikely to see the market retreat. The ANZ Bank’s senior economist Felicity Emmett notes that factors such as limited supply and strong demand due to immigration is putting upward pressure on housing prices, and this is likely to continue in the near-term.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, HSBC AUSTRALIA HOLDINGS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Gillespie predicts RBA will trim rates as house prices fall

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Original article by Natasha Gillezeau
The Australian Financial Review – Page: 28 : 21-Feb-19

Brett Gillespie of Ellerston Capital estimates that there is a 30 per chance that the Reserve Bank of Australia will reduce official interest rates in April. In contrast, financial markets are currently pricing in a six per cent chance of a rate cut. Gillespie expects a further downturn in house prices in the near-term, which may prompt the central bank to ease monetary policy prior to the federal election. The RBA adopted a more dovish tone on interest rates at its February meeting, after signalling in December that rates were more likely to go up than down.

CORPORATES
ELLERSTON CAPITAL PTY LTD, RESERVE BANK OF AUSTRALIA, UBS HOLDINGS PTY LTD

Value of housing takes a $70bn hit

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Original article by Turi Condon, Mackenzie Scott
The Australian – Page: 2 : 12-Dec-18

Official data shows that the mean value of an Australian home fell by about $9,700 in the September quarter, to $675,000. The total value of the 10.1 million dwellings in Australia declined by $70.1bn in the quarter, to $6.8trn. The Australian Bureau of Statistics data also shows that dwelling prices in Melbourne fell by 2.6 per cent in the quarter and by 1.5 per cent year-on-year, while Sydney recorded falls of 1.9 per cent and 4.4 per cent respectively.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, GOLDMAN SACHS AUSTRALIA PTY LTD, CORELOGIC AUSTRALIA PTY LTD, ERNST AND YOUNG

Hockey did foreign buyers a favour

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Original article by Michael Bleby
The Australian Financial Review – Page: 45 : 13-Aug-15

Real estate agents have this advice for foreign property owners ordered to sell up because they have breached foreign investment rules – do so sooner rather than later. The agents believe the Sydney market in particular has topped out. Of the six properties to be sold under orders from Treasurer Joe Hockey, one is in Sydney’s Fairfield, where prices have surged 33 per cent in 12 months. A crash is not predicted, but agents are starting to see fewer bidders at auctions.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, CENTURY 21, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ, McGRATH ESTATE AGENTS, BELLE PROPERTY PTY LTD, RAY WHITE GROUP, LAURIE KELLY REAL ESTATE