REAL ESTATE – AUSTRALIA – RESIDENTIAL

Boom ends as clearances ‘set for 70pc’

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Original article by Mercedes Ruehl, Robert Harley, Su-Lin Tan
The Australian Financial Review – Page: 3 : 21-Sep-15

Preliminary figures from RP Data show that Sydney’s residential property market boasted an auction clearance rate of 73 per cent on the weekend of 19-20 September 2015. Andrew Wilson of Domain Group says the spring clearance rate in Sydney has fallen to a three-year low, adding that it could soon fall below 70 per cent. The preliminary clearance rate in Melbourne was also 73 per cent.

CORPORATES
RP DATA LIMITED, DOMAIN.COM.AU, COOLEY AUCTION SERVICES PTY LTD, BELLE PROPERTY PTY LTD, STARRYLAND (AUSTRALIA) PTY LTD, CBRE PTY LTD, WAKELIN PROPERTY ADVISORY

Chinese face big losses as $A falls

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 39 : 14-Sep-15

Basis Point estimates that the sharp decline in the value of the Australian dollar since late 2014 has cost Chinese investors about $A12bn. Basis Point’s David Chin notes that investors in residential property who have already settled the deal will have lost money. However, investors in off-the-plan apartments that have not yet been settled will benefit from the currency’s decline.

CORPORATES
BASIS POINT CONSULTING, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Rental growth slows to 20-year low

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Original article by Michael Bleby
The Australian Financial Review – Page: 4 : 11-Sep-15

CoreLogic RP Data has reported that growth in asking rents for residential properties across Australia fell by 0.4 per cent overall in August 2014, compared with a 0.3 per cent fall in July. Growth in asking rents eased to 0.7 per cent year-on-year. Sydney was the only capital city to record a rise in asking rents during August. Cameron Kusher of CoreLogic RP Data cites factors such as slowing population growth and continued strong construction activity.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED

Lower $A will intensify two-tier property market

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 7 : 4-Sep-15

The lower Australian dollar may lead to greater interest in Australian property from foreign buyers and, consequently, to higher prices. Valuer Herron Todd White says the importance of local demand is diminishing. Real estate developers concentrate their marketing efforts on overseas investors. This trend is clearly visible in unit developments in Sydney such as Zetland, Waterloo, Rosebery, Mascot, Botany, Hurstville and Wolli Creek.

CORPORATES
HERRON TODD WHITE AUSTRALIA PTY LTD, DEUTSCHE BANK AG

Investor rate rises prompt owner-occupiers to switch

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Original article by Clancy Yeates
The Australian Financial Review – Page: 3 : 3-Sep-15

A growing number of home loan customers are alerting banks they have changed their status from investor to owner-occupier. While they had no incentive to do so before, banks are now charging investors higher interest rates for the first time since the 1990s. The industry says the trend may involve thousands of customers, complicating the compilation of official statistics.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD

Chinese investors wary on house buying

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 8 : 25-Aug-15

Chinese real estate investors are reacting to Treasurer Joe Hockey’s crackdown on illegal purchases. They are becoming more cautious as they seek information about investment rules for residential property, according to Asian property agent House 18’s Michael Zhu. Many agents are advising Chinese investors to contact a lawyer before proceeding.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, FINANCIAL INDUSTRY REGULATORY AUTHORITY INCORPORATED, CBRE GROUP INCORPORATED, BLACK DIAMONDZ PROPERTY CONCIERGE, HOUSE 18

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

Mixed results in Sydney auctions but no signs of housing slowdown

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 6 : 10-Aug-15

Sydney’s residential property market is not as hot as it was several weeks ago. Domain’s senior economist, Andrew Wilson, says auction clearance rates have been falling over the past three weeks while listings are twice as high as they were a year ago. CoreLogic RP Data reported a clearance rate of 77.8 per cent for 8-9 August 2015, compared with 78.8 per cent for 1-2 August.

CORPORATES
McGRATH REAL ESTATE PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, DOMAIN.COM.AU

Landlord nation: 18,000 own six or more rental properties

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Original article by Su-Lin Tan, Fleur Anderson
The Australian Financial Review – Page: 4 : 7-Aug-15

New figures show that some 16 per cent of Australian taxpayers owned a residential investment property in 2012-13. More than 110,000 taxpayers owned more than three rental properties, while about 18,000 had a portfolio of at least six. Shane Garrett of the Housing Industry Association says factors such as rising house prices and population growth means a lot more people probably now own at least one investment property.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED

New house sales may have peaked

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Original article by Michael Bleby
The Australian Financial Review – Page: 8 : 4-Aug-15

Sales of new detached homes across Australia topped 73,507 in 2014-15, compared with 72,706 in the previous financial year. Harley Dale of the Housing Industry Association says that while demand for detached homes will remain strong in 2015-16, sales are likely to be lower due to a dearth of land being released for development.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA