CoreLogic leading property indicators still bullish

If anything, getting more so. Listings are crushed:

While mortgage originations are solid seasonally adjusted:

Though it must be remembered that these are owner-occupied only and investor mortgages remain weak.

Overall, though, higher property prices ahead, especially ex-Sydney and Melbourne.

Houses and Holes
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Comments

  1. boomengineeringMEMBER

    Depends on jobkeeper/seeker extended as to whether to dive in as if extended shows that free money could be with us for a long time causing it to devalue in relationship to RE price

    • It will be… and if its not and the economy falls over, they will bring it back

      Socialism for the rich, capitalism for the plebs.

  2. boomengineeringMEMBER

    As house prices now approach the cost of a Mars landing it may be prudent to take a back seat unless as above more money is shoveled out of the copter.

    • boomengineeringMEMBER

      5 acres Central Coast had 2.5K enquiries in 2 wks, good house with huge shed. Agent refused to take instant offers over phone citing litigation if faults were found after the fact.

  3. I had to do a double take… I read the title of this post as “CoreLogic leading property indicators still bullsh!t”

  4. I call BS, listings around 2257 were normal for Xmas period but have gone up a lot in the last few days now that agents are back at work, for reference the Xmas period is usually (last 5 years) around 100 listings, currently sitting at 165 !

    • boomengineeringMEMBER

      Locals seeing house snapped up at asking price are throwing theirs on the market for an extra 50K or more.

      • I am local, and not much snapping up going on here, normal sales, some above asking others below, yes more positive than this time last year but the excitement seems to have backed off with the WFH thing fizzing out a bit, even the coffee shops are not as busy as last year.

      • Yep, that’s what we did, quiet listing. Got offer after a week while we were away. 15k below a stupid asking price, and don’t have to do the bathrooms up which i was going to do, so well ahead. Sunny coast is going nuts.
        Gotta find a home now, but a month or two at Coolum van park on the beach won’t be the end of world if we have to.

        • Jumping jack flash

          +1
          North Brisbane going nuts. 400K at the start of the year is $420 now. $450 now over $500.
          We found a perfect place for the perfect price and grabbed it before the vendor realised they could get an extra 30K easily. Offer accepted. Building inspection as good as it could be. Now to organise finance, which hopefully will go smoothly.

  5. Jumping jack flash

    Look at it go!

    The surge in OO debt will entice the investors back, but if it doesn’t who really cares? There’s enough pent-up OO demand that ~36 billion of early super release plus a sprinkling of debt incentives sent them into a veritable frenzy. This is actually a very good time for investors to cash in, and then let fly with gigantic piles of new debt once the flame of OOs dies out – after pushing prices up of course, possibly around March/April, but hopefully not.

    • Direct from a Big 4 level 2 – if you touched super over the last 12 months with their particular bank (no names), you have a black mark.

      • Nah I checked with a broker. Doesn’t cause issues and people can still get finance approved. Bank will query it, but won’t blacklist you.

        • Jumping jack flash

          im shopping for a gigantic, economy-crushing pile of debt at the moment, to throw up the great housing pyramid, and during my searches only the big 4 asked me about super. Their exact words were “if you have accessed super, what percentage of your deposit is super money?” 0% is obviously an acceptable answer. I wasn’t asked by any brokers or any smaller banks at all.

          Oh wait, one broker asked me and then said if i had accessed the first release of 10k nobody cares at all, and barely cares if the 2nd release was accessed.

          But anything that happens more than 6 months ago may as well not have happened as far as banks care. That’s why this debt boom will continue to expand up until March, and probably drop off after that, but hopefully the debt engine restarts and it accelerates.

  6. I hate the property bubble, but even i am looking at an ip in brisbane (melb home paid off). Cant get finance though until the wife goes back to work, even thogh i earn more than i spend and 4.5 pct yield would easily pay mtge. and wife is struggling to get work….. so can see why less investor demand. Cant get finance. And there is bugger all decent family homes on the market in the eastern suburbs of melbourne.