REAL ESTATE – VALUATION – AUSTRALIA

Housing market hits record $9.9 trillion

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Original article by Nila Sweeney
The Australian Financial Review – Page: 39 : 16-Mar-22

The Australian Bureau of Statistics estimates that the total value of the nation’s housing stock rose to a new high of $9.9 trillion in the December quarter. This is $512.6 billion higher than in the previous three months, with growth of 4.7 per cent in national dwelling values. Brisbane recorded 9.6 per cent growth in housing values during the December quarter, while Adelaide and Melbourne recorded growth of 6.8 per cent and 3.9 per cent respectively; however, growth in Sydney slowed to 4.1 per cent. Meanwhile, dwelling prices rose by 23.7 per nationally in the year to December.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Housing value to hit $10 trillion

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Original article by Lachlan Moffet Gray
The Weekend Australian – Page: 21 & 24 : 2-Oct-21

Data from CoreLogic shows that housing values in Australia have risen by 17.6 per cent so far in 2021, including 1.5 per cent in September. Meanwhile, the total value of the nation’s housing stock may top $10trn by the end of the year if the current growth momentum continues. The Australian Bureau of Statistics recently reported that the value of housing stock rose to $8.92trn in the June quarter. National Australia Bank has forecast that house prices will rise by 20 per cent in 2021, following growth of about 3.8 per cent in 2022.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Claims of underquoting an odd sign of a market rising

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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

Negative equity feared as house prices plunge

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Original article by Michael Roddan, Luke Griffiths
The Australian – Page: 2 : 11-Apr-19

The Reserve Bank of Australia’s deputy governor Guy Debelle says the number of homeowners with negative equity has increased, although he notes that it remains largely confined to Western Australia and mining regions. He adds that it is unusual for house prices to fall sharply at a time when the economy is continuing to grow and the unemployment rate is low. Debelle says the outlook for the labour market is likely to determine whether there is a further increase in negative equity and mortgage arrears.

CORPORATES
RESERVE BANK OF AUSTRALIA, S&P GLOBAL RATINGS, INTERNATIONAL MONETARY FUND, WESTPAC BANKING CORPORATION – ASX WBC

Vicinity write-down hints at retail cycle’s turn: Citi

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 32 : 29-Jan-19

Shopping centre landlord Vicinity Centres advised in the week ending 25 January that it had reduced the value of its portfolio by $37 million. Although the write-down represented only a 0.2 per cent reduction in the value of Vicinity’s portfolio, Citi analysts have heralded it as being "symbolically significant" in a research note. Citi has stated that retail is its least preferred property option, and that recent news regarding the retail property sector suggests that conditions are declining more quickly than had previously been thought.

CORPORATES
VICINITY CENTRES – ASX VCX, CITIGROUP PTY LTD, SCENTRE GROUP – ASX SCG, GOODMAN GROUP – ASX GMG

Off-the-plan values plummet in Melbourne

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 8 : 4-Jan-16

Analysis by WBP Property Group shows that there has been a sharp fall in the value of apartments bought off-the-plan in Melbourne during the last two years. The firm has reported that the average value of almost 2,000 apartments fell by around $A40,000 in 2014 and 2015. Kim Quick of Herron Todd White says there has not been a similar downturn in apartment values in Sydney, noting that the residential market has benefited from the New South Wales Government’s infrastructure program.

CORPORATES
WBP PROPERTY GROUP PTY LTD, HERRON TODD WHITE AUSTRALIA PTY LTD