Original article by Nila Sweeney
The Australian Financial Review – Page: Online : 31-Dec-19
Sydney home values rose by 1.7 per cent in December, according to CoreLogic, while Melbourne home values increased by 1.4 per cent. This compares to growth of 2.7 per cent for Sydney and 2.2 per cent for Melbourne in November. Tim Lawless from CoreLogic expects that Sydney and Melbourne will record overall growth rates of 5.3 per cent in 2019; Sydney values fell by 8.9 per cent in 2018, while Melbourne values declined by seven per cent. CoreLogic expects Melbourne home values to increase by up to 14 per cent in 2020, while Sydney home values are predicted to rise by up to 12 per cent.
CORELOGIC AUSTRALIA PTY LTD
Original article by Euan Black
The New Daily – Page: Online : 11-Dec-19
The Australian Housing & Urban Research Institute has warned that the shortage of affordable rental housing has risen since 2011 and will continue to worsen in coming years. The AHURI estimates that the shortage of affordable homes for the lowest 20 per cent of income earners now tops 212,000. The lead researcher, Swinburne University’s Professor Kath Hulse, says that neither the public or private sector are building enough affordable homes. The AHURI has concluded that the federal government needs to build at least 200,000 affordable homes over the next 10 years.
AUSTRALIAN HOUSING AND URBAN RESEARCH INSTITUTE, SWINBURNE UNIVERSITY OF TECHNOLOGY
Original article by Duncan Hughes
The Australian Financial Review – Page: 11 : 18-Nov-19
Real estate agents have warned that underquoting is again becoming widespread in the industry, as the residential property market rebounds from the recent downturn. Underquoting was rife during the previous housing boom, and some agents are concerned that the practice is undermining buyers’ confidence. Hoskins Real Estate and one of its directors were recently ordered to pay almost $890,000 in penalties and compensation for underquoting.
HOSKINS REAL ESTATE
Original article by Nila Sweeney
The Australian Financial Review – Page: 33 & 39 : 14-Nov-19
SQM Research MD Louis Christopher expects growth in housing prices in Australia’s capital cities to average 11 per cent in 2020. The latest edition of Christopher’s Housing Boom and Bust Report forecasts that dwelling prices in Melbourne will rise by up to 15 per cent, while Sydney’s housing market will record growth of 10-14 per cent. However, the Darwin market is expected to buck the trend, with a two per cent downturn in 2020. Christopher says the housing market rebound is unlikely to be sustained over the longer term.
SQM RESEARCH PTY LTD, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY
Original article by Nila Sweeney, Larry Schlesinger
The Australian Financial Review – Page: 29 : 7-Nov-19
Real estate developers note that their recent land releases in new housing estates have attracted strong demand among people who are buying their first home. Nigel Edgar of Frasers Property says first-home buyers now account for 35-45 per cent of its sales, compared with just 15 per cent when the residential market was at its peak in 2017. Likewise, Luke Fryer of Metricon says sales to first-home buyers increased by 25 per cent in the three months to September. Off-the-plan apartments are also attracting interest among first-home buyers.
FRASERS PROPERTY AUSTRALIA PTY LTD, METRICON HOMES, HIGHLAND PROPERTY GROUP, VIRGATE, WOLFDENE, BIS OXFORD ECONOMICS PTY LTD, JINDING DEVELOPMENTS
Original article by Duncan Hughes
The Australian Financial Review – Page: 9 : 6-Nov-19
The Australian Taxation Office estimates that some property owners have undeclared income of more than $70,000 a year in earnings from short-term rental platforms such as Airbnb. This has contributed to an income tax shortfall of around $9bn. The ATO has used data-matching technology to compare income from tax returns with financial records provided by rental platforms. The ATO will write to home owners asking them to review their tax return, their income earned and the expenses they have claimed.
AUSTRALIAN TAXATION OFFICE, AIRBNB AUSTRALIA PTY LTD, STAYZ PTY LTD, HOMEAWAY.COM INCORPORATED, FLIPKEY, BOOKING.COM (AUSTRALIA) PTY LTD, IBISWORLD PTY LTD, BNBGUARD
Original article by Michael Bleby, Matthew Cranston
The Australian Financial Review – Page: 7 : 1-Nov-19
Official data shows that residential building approvals rebounded in September, with overall growth of 7.6 per cent in seasonally adjusted terms. Approvals for detached dwellings increased by 2.6 per cent, and approvals apartments and townhouses rose 16 per cent. Meanwhile, dwelling approvals totalled 176,638 in the year to September, compared with 179,924 in the year to August. Separate data from the Reserve Bank shows that there was an 0.2 per cent increase in housing credit in September, and annual growth of 3.1 per cent.
RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BIS OXFORD ECONOMICS PTY LTD
Original article by Ingrid Fuary-Wagner
The Australian Financial Review – Page: 34 : 24-Oct-19
Data from Domain Holdings shows that house prices in Sydney increased by 4.8 per cent in the September quarter. Nicola Powell of Domain says the median house price in the New South Wales capital rose by $49,000 over the period, after falling by around $167,000 during the 18-month property market downturn. House prices in Melbourne gained 4.1 per cent over the quarter, but house and apartment prices fell in Brisbane, Adelaide and Canberra.
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, CORELOGIC AUSTRALIA PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ
Original article by Michael Bleby
The Australian Financial Review – Page: 26 : 10-Oct-19
New figures show that residential building starts increased by 1.1 per cent in the June quarter, following declines in the previous two quarters. A 10.6 per cent decline in detached-housing starts was offset by a 21 per cent increase in apartment starts. Meanwhile, housing starts for the year to June totalled 196,867; this was the first year-on-year fall since September 2014. Ernst & Young’s chief economist Joanne Masters expects a further decline in residential construction activity.
ERNST AND YOUNG, HOUSING INDUSTRY ASSOCIATION LIMITED, COMMONWEALTH SECURITIES LIMITED, TAMAWOOD LIMITED – ASX TWD
Original article by Sarah Turner
The Australian Financial Review – Page: 22 : 30-Sep-19
Data to be released by CoreLogic on 1 October is expected to show that house prices in Sydney and Melbourne have increased by 3.2 per cent and 3.4 per cent over the last four months. Prices rose by 1.6 per cent in Sydney and 1.4 per cent in Melbourne during August. Yarra Capital’s Tim Toohey has flagged the potential for a housing bubble in the medium-term, particularly if the Reserve Bank further eases monetary policy, while the ANZ Bank’s David Plank says regulatory intervention may be necessary if prices keep rising and there is an upturn in mortgage lending.
CORELOGIC AUSTRALIA PTY LTD, YARRA CAPITAL PARTNERS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA, MORGANS FINANCIAL LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, BIS OXFORD ECONOMICS PTY LTD, AMP CAPITAL INVESTORS LIMITED, GOLDMAN SACHS AUSTRALIA PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY