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…
Latest Property News
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…
New data confirms two-thirds of investors who negatively geared property were on taxable incomes of less than $80,000 a year. The latest tax office data suggests Labor’s policy to amend the widely used property purchasing practice would mostly hit more lower-income earners with only one investment property, according to Treasury analysis of the 2015-16 tax…
Richard Wakelin, founder of Wakelin Property Advisory, has suggested properties with high yields tended to be more vulnerable than other properties to economic shocks, not less. “They are often located in areas that struggle economically in the best of times due to a limited and narrow economic base and contain tenants who are more susceptible to…
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…
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…
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…
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…
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…
CoreLogic today released its January hedonic home value index results which, at a national level, revealed a fall of 0.3% for the month, led by a 0.9% fall in Sydney dwelling values. The difference between Melbourne and Sydney houses according to CoreLogic is $216,000. The national combined dwellings index posted a modest 0.3% fall in…