REAL ESTATE – PRICES – AUSTRALIA

You call that a house price boom?

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Original article by Robert Harley
The Australian Financial Review – Page: 3 : 29-May-15

Data from Corelogic shows that there has been a 38.8 per cent increase in Sydney house prices since May 2012. However, the firm notes that residential property values in the harbour city rose by 60.2 per cent during the property boom of 2001 to 2004. Likewise, house prices in Melbourne have risen by 23.6 per cent during the current boom, well shy of the 58 per cent growth between 2001 and 2004.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

ASIC warns on property bubble

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Original article by Patrick Durkin
The Australian Financial Review – Page: 1 & 6 : 18-May-15

Australian Securities & Investments Commission chairman Greg Medcraft has raised concern about the growth in residential property prices in Melbourne and Sydney. He notes that the long-term average income to average household income is now at a record high, and he warns that interest rates will eventually rise. Medcraft is particularly concerned about self-managed superannuation funds investing in residential property, as a house is often their only asset.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, FIRSTMAC LIMITED, RESERVE BANK OF NEW ZEALAND, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, THE CASH STORE PTY LTD, NIMBLE PTY LTD, COUNCIL OF FINANCIAL REGULATORS

Holiday plans hold back clearance rate

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 38 : 7-Apr-15

Sydney’s residential property market recorded an auction clearance rate of 67.9 per cent on the weekend of 4-5 April 2015. The Easter long weekend meant just 34 home went under the hammer, with 19 being sold. Just 13 homes in Melbourne were auctioned on the weekend, and seven were sold. Meanwhile, there was 13.9 per cent growth in residential property prices in Sydney during the year to March, while prices in Melbourne rose by 5.9 per cent

CORPORATES
AUSTRALIAN PROPERTY MONITORS PTY LTD, BRESIC WHITNEY ESTATE AGENTS PTY LTD, McGRATH REAL ESTATE PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED

Affordability biggest risk, says Lend Lease

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Original article by Michael Bleby, Nick Lenaghan
The Australian Financial Review – Page: 38 : 17-Mar-15

Housing affordability is an important factor in the Australian construction industry. Lend Lease CEO of property, Tarun Gupta, said on 16 March 2015 that affordability is currently at an acceptable level but should be closely monitored. Figures provided by CoreLogic RP Data show that house prices have risen by 7.6 per cent nationally over the past 12 months, and by 14.1 per cent in Sydney

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED

Property powerhouses set the pace on price rises

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Original article by Turi Condon
The Australian – Page: 5 : 3-Feb-15

Figures from CoreLogic RP Data show that house prices in Sydney and Melbourne increased by 1.4 per cent and 2.7 per cent respectively in January 2015. The Perth, Adelaide and Darwin property markets recorded house price declines during the month. CommSec’s Craig James says the Reserve Bank will consider the state of the residential property market when deciding whether to reduce the cash rate on 3 February

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, COMMONWEALTH SECURITIES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MERITON APARTMENTS PTY LTD, RESERVE BANK OF AUSTRALIA

Melbourne tops fastest list

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 6 : 4-Nov-14

New figures show that there was a one per cent rise in Australian house prices in October 2014. House prices in Melbourne recorded the strongest growth at nearly two per cent, ahead of 1.3 per cent for Sydney and 0.6 per cent in Brisbane. However, there was a 2.3 per cent decline in house prices in Hobart and an 0.1 per cent fall in Perth. Nationally, house prices have risen by 8.9 per cent in the last year

CORPORATES
RP DATA LIMITED, CORELOGIC AUSTRALIA PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSSIE HOME LOANS LIMITED

Negative gearing main factor in high house prices: Saul Eslake

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 34 : 29-Oct-14

Bank of America Merrill Lynch economist Saul Eslake has downplayed the role of foreign investment in the rising cost of residential properties in Australia. He argues that negative gearing has been a major contributor to the housing boom. Other factors cited by Eslake include the chronic housing shortage and the preference for Australians to live in more expensive inner-city suburbs

CORPORATES
BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD

RBA must ‘bite the bullet’ on housing and lift rates

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Original article by Christopher Joye
The Australian Financial Review – Page: 8 : 8-Oct-14

The Reserve Bank of Australia (RBA) has finally adopted the advice of "The Australian Financial Review", and started to consider macroprudential measures to rein in rampant residential real estate prices growth. Some banking leaders also want the central bank to lift the official cash interest rate from its all-time low, to signal to property buyers that the current environment cannot last. Investors appear oblivious to the fact that the increase in asset values of 7%-plus per annum must come to an end, and a dangerous "bubble" may be forming

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, RESERVE BANK OF AUSTRALIA, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS

Don’t ‘scare’ housing: Triguboff

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Original article by Turi Condon
The Australian – Page: 22 : 26-Sep-14

Apartment developer Harry Triguboff has warned against restrictions on residential property lending. The Reserve Bank of Australia has indicated that it may impose restrictions on bank lending for housing. Triguboff said that prices had risen in Melbourne and Sydney, but there was little growth in prices in the rest of the country. He said that restrictions could have unintended consequences and damage confidence in the housing market

CORPORATES
RESERVE BANK OF AUSTRALIA, MERITON APARTMENTS PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED, RP DATA LIMITED, CORELOGIC AUSTRALIA PTY LTD

House tax change may backfire: HIA

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Original article by Robert Harley
The Australian Financial Review – Page: 3 : 22-Sep-14

The Housing Industry Association (HIA) has argued against the dropping of negative gearing of investment real esate. In a research paper to be released on 22 September 2014, the HIA said that housing costs would be increased if negative gearing was reduced without changing other taxes. Critics of negative gearing claim that it increases the cost of housing. The report found that stamp duty was the largest tax distortion on housing

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, INDEPENDENT ECONOMICS