Australian Property

Things have gone from bad to worse for residents of Sydney’s Mascot Tower.

Last week, the ABS has released two crucial pieces of data for Australia’s housing market.

Via CoreLogic comes the weekly leading mortgage index: Solid enough.

Via Moody’s: Second-Quarter 2019 Housing Forecast Report The May CoreLogic Hedonic Home Value Index results show the national housing market continuing its correction, led by Sydney and Melbourne.

Former Productivity Commission chairman Peter Harris says the federal government should consider adopting key recommendations in the ‘Shifting The Dial’ report, which the Commission released in 2017.

The NSW Government wants to accelerate approvals for higher density developments across Sydney’s ‘missing middle’ suburbs by making it easy to subdivide blocks.

There is no other way to put it than a complete sellout.

The AFR’s war on rate cuts took a new an ever more stupid turn on the weekend: Baby Boomers and Millennials are trading blows about who is responsible for deteriorating economic conditions that weaken their chances of home ownership or retirement security.

CoreLogic has released its preliminary auction report, which reported a small retracement in the national clearance rate from last week’s 14-month high.

Via ANZ: The RBA seems to be in a hurry to get the cash rate lower.

From Gottiboff come an update on the LNP’s “greatest peacetime” boom: …Nowhere was this optimism more evident than in the outer suburban land and housing development market, which had collapsed.

By Leith van Onselen From 1 July 2019, the ACT Government will abolish stamp duty for first home buyers (FHBs) earning under $160,000.

APRA released quarterly ADI property exposures yesterday.

By Leith van Onselen Australia’s apartment market is in crisis.

By Leith van Onselen The ABS on Tuesday released its property price data for the March quarter, which valued Australia’s dwelling stock owned by households at $6.56 trillion, whereas the total housing stock was valued at $6.27 trillion.

By Leith van Onselen The owners of Sydney’s Mascot Towers apartments, which was evacuated over the weekend amid severe cracking, have been given until 1 August to pay a special levy worth thousands of dollars for each unit owned.

Via the ABC comes Philip Gall, chair of the Owners Corporation Network.