Australian Property

This week’s housing data showed that the nation’s housing downturn has both steepened and broadened.

I reported on Wednesday that, over the first 21 months of the National Housing Accord, Australia’s dwelling completion rate has fallen 112,400 (27%) behind the target, which requires 240,000 homes to be built annually for five consecutive years.

Australia’s housing market has endured more than 25 years of demand-side policy stimulus in the form of home buyer grants, shared equity schemes, low-deposit schemes, and the like.

Over the decades of available data going back to the 1980s, there have been three major departures from the trend on the metric of additional working-age persons (civilians 15 and over) per additional dwelling completion.

Harry Triguboff is the founder of Meriton, Australia’s largest apartment developer.

As housing prices continue to fall over an increasingly large proportion of the country, the Albanese government continues to insist that it wants higher housing prices.

Earlier today we got the latest net long term and permanent arrivals data from the ABS.

In the most recent YouGov poll, the nation’s electorate was polled on one of the most controversial questions of our age, housing prices.

As the debate over the changes to negative gearing and the capital gains tax discount continues, one of the major points of contention is the impact on new home building.

Since the Albanese government announced that negative gearing and the 50% capital gains tax discount would no longer apply to properties purchased from budget night onwards, the issue of the changes impact on rents has been a major point of discussion and contention.

This week, the combined capital preliminary auction clearance rate increased to 54.8%, the highest early clearance percentage in seven weeks, following three weeks of staying below 50%.

With the release of the latest Cotality quarterly Rental Report, the dire state of the nation’s rental market has again been confirmed.

In a recent social media post, Housing Minister Clare O’Neil shared a video in which she spoke about the “broken housing market” and how it was hurting Australians.

In recent weeks, the news surrounding the Australian housing market has gone from bad to worse, with commentary from bank analysts that mortgage demand has fallen significantly, with some observations seeing demand from property investors down as much as 50%.

When the Albanese government unveiled its target of building 1.2 million new homes over the 5 years from July 2024 to June 2029, it was met with skepticism from a range of property and housing construction experts.

In the months prior to the recent federal budget, data suggested that mortgage demand was beginning to trend downward.

When Liberal Party founder Robert Menzies forged the Liberal Party during the Second World War, he placed a heavy emphasis on home ownership and a stake in society.

Bloxo only pops up occasionally these days, but he’s up and about today.

Cotality with the great news.

In the weeks since the Albanese government delivered it’s latest federal budget, whatever pretense of a free market that existed surrounding the issue of housing prices has been gradually evaporating.

As the debate over the right set of economic, immigration and housing policies in Australia continues, Canada is often raised as an alternative pathway, one where housing prices and rents are falling and net overseas migration is a negative number.

The one economic feature of Australia that has defined MB for fifteen years is a belief in the need for lower house prices.