Sydney remains perched at the top of the housing cycle, according to the October residential property clock by property valuation firm Herron Todd White. The top has a new entrant as well, Griffith. The rest — Coffs Harbour, Newcastle and NSW Central Coast — stay put. There are no changes from September at the bottom of…
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Most of the timely indicators of domestic economic activity suggest that growth is set to pick up pace in coming quarters (we expect year-ended GDP growth of 3.3% over 2017). Key amongst these indicators are surveyed business conditions, which are around decade highs, and employment growth, which has picked up recently with sufficient momentum to…
As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 1.50 percent. The Governor’s statement indicates that the Bank is feeling a little more comfortable with the outlook. Growth prospects have improved and the heat seems to be coming out of the housing market. Evidence to support a more confident growth…
One of the reasons some of the price growth has eased across the Sydney residential property market is that banks won’t lend as much. They have been offering home buyers reduced loan amount approvals for some time now. So when buyers turn up at open for inspections and auctions this spring, they are likely to have…
After a choppy few months, demand surged again in July with even the struggling WA market starting to hit its stride. In July, the index hit another new peak, and only one section of the Australian market, NSW apartments, saw a slight drop in demand. Given that the state has been seeing decades of housing…
The Federal Government wants to encourage retirees to downsize from their big family homes. It is part of Treasurer Scott Morrison’s budget package to improve housing affordability with the draft legislation allowing Australians aged over 65 to make an exempt contribution to their superannuation from the sale proceeds. The Government’s aim is to free up…
Australia’s population is booming, with some regions growing by more than 50 percent over the last five years. In celebration of its upcoming 10th anniversary, Nearmap, the Aussie aerial imagery company, has paired its high-res aerial imagery with new Australian Bureau of Statistics data, revealing the country’s rapid growth through before and after images of the…
For many years now, home buyers and investors have had to wade through a sea of negativity on housing price commentary, while all the time prices have been going up. Bearish commentators have regularly forecast dramatic downturns. None have eventuated in Sydney. And the pessimists were out in force last week on the ABC Four…
The NSW Government has developed a new package of measures designed to improve housing affordability across NSW. These policies take into account the difficulty that first home buyers face in entering the market, the state’s growing population and the need to ensure that development occurs close to essential infrastructure such as roads, railway lines and schools. https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/
Measures including toughening the requirements for interest-only loans and property investments in self-managed super funds introduced in March have reduced the number of investors purchasing property in Sydney by 20% and helped cool the market. Investors comprised more than 50% of the entire Sydney market in 2016 but have started to level off this year,…