Rising market driving spike in underquoting

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.

CORPORATES
HOSKINS REAL ESTATE

Sydney, Melbourne prices take off in 2020

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.

CORPORATES
SQM RESEARCH PTY LTD, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

House prices regain a third of downturn losses

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.

CORPORATES
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

Price rises set housing up for new boom

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.

CORPORATES
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

Sydney median house price rises in June quarter

Original article by Michael Bleby
The Australian Financial Review – Page: Online : 18-Sep-19

The median price for Sydney homes rose $5,000 to $875,000 in the June quarter, according to the Australian Bureau of Statistics, while Melbourne’s median house price held at $680,000. Prices for prices for detached dwellings fell nationally by 0.6 per cent, compared to a 3.1 per cent decline in the March quarter, while prices for attached dwellings fell by 0.8 per cent, compared to a three per cent decline in the March quarter.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Rebound is on: prices rise across the board

Original article by Mackenzie Scott
The Australian – Page: 5 : 3-Sep-19

New data from CoreLogic shows that house prices rose by 0.8 per cent nationally in August, which is the first increase since October 2017. CoreLogic’s latest Hedonic Home Value Index also shows that house prices in Sydney and Melbourne rose by 1.6 per cent and 1.4 per cent respectively in August, while Perth and Darwin were the only two capital cities to record a fall in house prices. Shane Oliver of AMP Capital says rising auction clearance rates suggest that house prices will continue to increase over the next 9-12 months.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, AMP CAPITAL INVESTORS LIMITED

Double-digit growth for Sydney, Melbourne

Original article by Nila Sweeney
The Australian Financial Review – Page: 33 : 29-Aug-19

SQM Research is upbeat about the residential property market, forecasting that Sydney house prices will increase by two per cent in the September 2019 quarter and four per cent in the December quarter. Data from SQM shows that asking prices in Sydney have risen by 5.6 per cent since the federal election in May. SQM MD Louis Christopher believes there is the potential for the residential market in Sydney and Melbourne to record double-digit growth in 2020.

CORPORATES
SQM RESEARCH PTY LTD, CORELOGIC AUSTRALIA PTY LTD, SELECT RESIDENTIAL PROPERTY GROUP, CATE BAKOS PROPERTY

Cure for housing fix ‘worse than disease’: UBS

Original article by Duncan Hughes
The Australian Financial Review – Page: 10 : 23-Aug-19

Investment bank UBS has warned that the Reserve Bank of Australia’s move towards extremely low interest rates risks reflating the residential property ‘bubble’. The ultra-low rates are also putting pressure on the dividend policies and margin levels of the nation’s large banks, while plans by the Australian Prudential Regulation Authority to reduce related-party exposure limits with regard to Tier 1 capital will put pressure on the banks’ capital.

CORPORATES
UBS HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIA RADIATION LABORATORIES, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Claims of underquoting an odd sign of a market rising

Original article by Su-Lin Tan, Nila Sweeney
The Australian Financial Review – Page: 34 : 22-Aug-19

Some buyers’ advocates have expressed concern that the residential property market is again being affected by underquoting. Melbourne-based Scott Hall notes that there has been a significant decline in underquoting by real estate agents since legislation to crack down on the practice was introduced in 2017. Real Estate Institute of New South Wales CEO Tim McKibbin agrees that underquoting has become less prevalent in recent years.

CORPORATES
THE REAL ESTATE INSTITUTE OF NEW SOUTH WALES, FAIR TRADING NSW, VICTORIA. DEPT OF JUSTICE AND REGULATION. CONSUMER AND BUSINESS AFFAIRS VICTORIA, RAINE AND HORNE PTY LTD

Underrated suburbs set for million-dollar club

Original article by Nila Sweeney
The Australian Financial Review – Page: 30 : 8-Aug-19

Data from Select Residential Property suggests that the median house price in 12 suburbs across Australia will rise above $1m over the next two years. They include Coal Point, Terrigal and Mount Pleasant in New South Wales and St Helena and Eltham North in Victoria. The price growth forecasts are based on a range of metrics, including auction clearance rates, vacancy rates, and the number of properties on the market.

CORPORATES
SELECT RESIDENTIAL PROPERTY, CORELOGIC AUSTRALIA PTY LTD