Australian Property

Earlier this year, billionaire Huang Xiangmo’s permanent residency was cancelled for reasons including character grounds.

October was a very bad month for Perth’s housing market, with the latest data on dwelling values, dwelling construction and dwelling rents all posting ongoing falls.

Via CoreLogic comes the leading listing index which is very weak leaving total listings at very low levels: Equally, the leading mortgage index is now in something of a free fall.

L-plate treasurer, Josh Recessionberg, has done the near impossible and crashed the miracle economy.

CoreLogic has released new data showing that Aussie rents continue to decline, with five of eight major markets experiencing falls over the quarter: Rental markets have remained subdued, with rental rates falling across five of the eight capital cities over the three months ending October 2019.

Long suffering residents across Melbourne’s suburbs are pushing back hard against the spate of ugly high-rise apartments sprouting up across the city, which they claim are wrecking liveability: Grassroots campaigns against multi-storey developments are cropping up across Melbourne where, to the ire of locals, apartment towers are popping up and colonising old residential suburbs.

Earlier this year, the Council of Financial Regulators (CoFR) recommended the federal government impose a ban on property investment through self-managed superannuation funds (SMSFs) after 18,000 SMSFs were found to have over 90% of their savings in a single asset class, primarily investment properties.

With last week’s release of dwelling approvals data for the September quarter, it’s once again time to examine how Australia’s dwelling supply is tracking against population growth.

Via The Australian: Construction projects worth billions of dollars could grind to a halt as hikes to professional indemnity insurance premiums begin to force building certifiers out of business in what the industry warns is a “national crisis”.

Another week, another spin piece about the benefits of “tiny homes” and why they offer a solution to Australia’s housing affordability crisis: According to the Internation Residential Code (ICC), a tiny house is defined as a dwelling under 400 square feet (or 37 square meters).

From CoreLogic’s Tim Lawless: According to ABS housing finance data for August 2019, first home buyers comprised the largest proportion of national owner occupier mortgage activity since early 2012.

I cannot recall a time when the growth in mortgage credit has diverged so wildly from house price growth.

Via FT: Nigel Farage’s Brexit party is considering whether to pull out of hundreds of seats in Britain’s forthcoming general election, in what could prove a game-changer to prime minister Boris Johnson’s hopes of winning a parliamentary majority.

The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of September. At the national level, the number of dwelling approvals rebounded by a seasonally adjusted 7.6% to 14,004. The overall rebound in approvals was driven by units & apartments (+16.6%) with houses (+2.8%) also rising.

It’s pretty awful watching Jess Irvine pretend to care about her generation’s bete noir as she hunted for a property to buy.

The June quarter consumer price index (CPI) data, released yesterday by the Australian Bureau of Statistics (ABS), revealed that Australian rental growth remains stuck in the gutter, posting the equal lowest annual growth in the series’ 45-year history.