Australian Property

Clare O’Neil is challenging Mad King for Australia’s most treasonous minister.

CoreLogic has identified 65 markets in Sydney and Melbourne where values are below record highs from the 2010s, and vendors are even willing to sell at a loss.

As I have said many times before, public discussion should be governed by some fifth law of thermodynamics that triggers spontaneous combustion in the hypocritical, malreasoned and oxymoronic.

The Coalition is considering stripping the Australian Prudential Regulatory Authority (APRA) of some of its powers to regulate mortgage borrowing and overhauling credit laws to make it easier for first home buyers to borrow for housing.

The world’s largest commercial real estate group, CBRE, released its Apartment vacancy and rent outlook for Australia, projecting that the rental crisis will last until at least the end of the decade.

AFR wunderkind Mark Di Stefano pretends to care about the housing torture of his generation.

On Friday, the Australian Bureau of Statistics (ABS) released housing finance data for August, which reported that investor demand continues to rise.

Last week, the Australian Bureau of Statistics (ABS) released dwelling approval data, which revealed that only 166,200 dwellings were approved in the year to August, which is 73,800 (31%) below the 240,000 annual run rate required to meet Labor’s 1.2 million housing target.

Australia’s auction market has stalled, indicating that both Melbourne and Sydney could soon experience falling prices.

Let’s take a walk down memory lane. It is June 2021, during the height of the pandemic. Australia’s borders are closed to immigration. And the NSW Intergenerational Report (IGR) has just been released, which explicitly warns that rebooting the Big Australia mass immigration program would create renewed ‘housing shortages’ across the state.

The Albanese government has indicated that it will review the Unit Pricing Code of Conduct, and potentially expand its coverage to include more retailers.

The Albanese government is reportedly preparing to reintroduce its stalled Help to Buy shared equity housing bill into parliament next week in a bid to increase pressure on the Greens.

A reader sent me the below meme, which neatly explains why curbing immigration is far more important for housing affordability than curbing negative gearing: Stimulating property investment via tax policies like negative gearing does push up house prices by stimulating investor demand.

CoreLogic’s daily dwelling values index shows that Melbourne and Sydney values are lagging well behind the other major capital cities: Over the past 28 days, Melbourne dwelling values declined by 0.1%, whereas Sydney’s rose by 0.2%.

The Albanese government’s target of building 1.2 million homes over five years depends on constructing large volumes of high-rise apartments in established suburbs. On Tuesday, the Australian Bureau of Statistics (ABS) released dwelling approvals data for August, which showed that apartment approvals have collapsed, scuttling the government’s target.

This week, reports emerged claiming that the Coalition is considering stripping the Australian Prudential Regulatory Authority (APRA) of some of its powers to regulate mortgage borrowing and overhauling credit laws to make it easier for first home buyers to borrow for housing.

CoreLogic’s September housing market report shows that the national rental index increased by only 0.1% over the September quarter, the smallest change over a rolling three-month period in four years. Rents fell in Sydney (-0.5%), Brisbane (-0.2%), and Canberra (-0.8%) during the quarter, and rental growth slowed in most other capitals.

If you want housing affordability, then raze Canberra because it is not coming otherwise.

The Australian Bureau of Statistics (ABS) released its Finance and Wealth survey for the June quarter of 2024, which shows that household wealth hit an all-time high of $16,477.2 billion after increasing by $249.7 billion over the quarter.

One of the common arguments the property lobby makes against negative gearing reform is that rents would skyrocket if investors were no longer allowed to claim rental losses against their wage and salary income.

CoreLogic’s daily dwelling values index, which measures value growth across the five major Australian capital city housing markets, rose by 0.5% in September: As illustrated above, the 0.5% monthly growth was driven by Perth (1.6%), Adelaide (1.3%), and Brisbane (0.7%), whereas Sydney (0.2%) and Melbourne (-0.2%) recorded modest growth and falling prices, respectively.

Last weekend recorded the lowest final auction clearance rate of 2024, with only 60.7% of homes selling across the combined capital cities. The result was also 5.4 percentage points below the success rate seen in the same weekend last year (66.1%).