Latest property News

Spring season expected to pick up quickly — especially in these key areas

Sunday 09 Sep 2018

A surge of activity is expected in Sydney’s Inner West region, with more Inner West properties expected to be listed between now and November, according to Paul Pettenon, principal of Raine & Horne Concord, with higher-end properties priced around the $1.5 million mark.“At the same time, owners are prepared to listen to the market and are pricing their properties accordingly. Also, auction clearance rates in Concord and surrounding suburbs have stabilised, which is a good sign fo ....

More info

Research suggests bigger banks are worse for customers

Monday 20 Aug 2018

Yet again this week, the Hayne Royal Commission has brought disturbing news of misconduct toward customers of our largest financial institutions. This time super accounts have been plundered for the benefit of shareholders. Recent research from economists at the United States Federal Reserve suggests this problem is not unique to Australia. If true, this supports the argument that larger financial institutions should be broken up or face more regulatory scrutiny. The researchers found that large ....

More info

Lending standards are dramatically tightening: Westpac

Friday 17 Aug 2018

The significant increase in short-term wholesale interest rates and associated volatility has been a key topic of debate in markets throughout 2018. Initially linked to higher borrowing costs in the US, a further spike in only Australian rates as the June quarter drew to a close saw participants' focus shift to domestic drivers of this pricing activity. There are many market factors that have played a part in the surge in short-term interest rates. All are worthy of discussion, but in this insta ....

More info

The royal commission should result not only in new regulation, but new education

Friday 17 Aug 2018

The Financial Services Royal Commission has not only shown that banks and their representatives have behaved appallingly, but that we need better-educated consumers. It is naive not to expect new schemes will pop up to replace the now (or soon to be) banned practices. There is a clear pattern of repeating unconscionable behaviour in the financial services industry. Consumers need to be trained to ask the right questions. “How much do I have to pay each week over the life of the loan includ ....

More info

Why rents, not property prices, are best to assess housing supply and need-driven demand

Monday 30 Jul 2018

UEST OBSERVATION If property prices are rising, it is commonly assumed we must be facing a shortage of supply relative to demand. So if we’re ever going to reduce housing affordability problems, we’re simply going to have to build our way out of it. After all, as anyone who’s sat in an introductory economics class would tell you, basic economics is sufficient to at least suggest that if prices are rising in the long term, then supply must be lagging behind demand. It’s tr ....

More info

Macquarie Bank raises its mortgage rates

Tuesday 10 Jul 2018

Macquarie Bank has raised their variable mortgage rates. Its higher variable rates will come into effect on July 13 for new customers and 10 days later for existing customers. The bank joins a host of other smaller lenders including AMP, Pepper Group, Bank of Queensland, IMB, ME Bank and Suncorp in making rate changes. It will raise owner occupied variable rates for those paying principal and interest by six basis points. Those paying only interest will have their rate upped by 10 basis poi ....

More info

ASIC and ATO to have increased focus on property one-stop-shops offering crook SMSF advice

Thursday 28 Jun 2018

ASIC and the ATO have advised they will have an increased focus on property one-stop-shops. This will include sharing data and intelligence, and ASIC taking enforcement action where it sees unscrupulous behaviour. More than 590,000 SMSFs hold assets worth nearly $697 billion, which is 30% of funds held in superannuation. Gaining control over their investments is a key motivation for consumers to set up an SMSF with recent years seeing a growing interest in using SMSFs as a vehicle for investing ....

More info

No change on stamp duty or FHB in NSW state budget, as decline in sales activity hits

Tuesday 19 Jun 2018

NSW land tax revenues are up, but stamp duty on sales has fallen dramatically. The annual land tax revenue from property investors was $148 million higher than the $3.68 billion forecast. The land tax helped the NSW surplus for 2017-2018 coming in at $3.9 billion, buoyed by a gst boost. But a slowdown in sales activity saw NSW stamp duty revenues $960 million lower than expected. The stamp duty revenue will be $10.4 billion this financial year, down from the $11.46 billion forecast. It was blame ....

More info

Citi says Harvey Norman will be hit hardest in the housing downturn

Wednesday 06 Jun 2018

Harvey Norman will be the most vulnerable of the ASX listed retailers to the housing downturn, Citi analysts Bryan Raymond and Craig Woolford have told clients. It came in a 38-page report ranking the retailers the broker considers most exposed to a fall in house prices.The analysts point out that the housing cycle had already turned, but this is yet to be reflected in retailer share prices. According to the broker, Harvey Norman and Wesfarmers are most exposed, with 39 per cent of Harvey Norman ....

More info

Aerotropolis masterplan unveiled by Boyuan for Badgerys Creek

Tuesday 29 May 2018

The ASX-listed property group Boyuan Limited will lead a consortium to develop a 344-hectare masterplanned health, retail and logistics development, the "Northern Gateway development", at Sydney's proposed second airport, Badgerys Creek. The proposed Northern Gateway development will create 38,000 new jobs across the education, health, entertainment, retail, tourism, transport and logistics sectors, resulting in $14.3 billion economic output into the Western Sydney Region, according to anal ....

More info