Australian Property

Ah, yes, anothery: Queensland Premier Annastacia Palaszczuk has not ruled out standing aside her deputy Jackie Trad from Cabinet if the state’s corruption watchdog launches an investigation into her investment property.

Via Domain: The number of people searching for investor loans doubled in the week after the June rate cut, compared to the week before, on comparison platform Finder.

Domain has released its house price results for the June quarter, which reported further falls.

Sydney’s apartment crisis continues to deepen following a series of high profile structural faults reported across major complexes.

Via the excellent Gareth Aird at CBA: Overview Australian capital city dwelling prices, led by Sydney and Melbourne, were in a trend decline since late-2017.

Via UBS: D/G to sell, too much priced in for a listings recovery that hasn’t materialised DHG is now trading c11% above our price target, and we lower our rating to Sell (from Neutral)…FY20 revenues look set to disappoint vs.

Last year, Sydney’s Lord Mayor, Clover Moore, warned of high-rise “ghettos of the future” arising from the Berejiklian Government’s proposed higher-density targets: “This is a planning disaster and a significant threat to Sydney’s future economic growth and livability.

Via CoreLogic, the leading mortgage index remains quite firm tough not tearing away: More worrying is the crashed state of new listings: Total listings are still decent but with a barren pipeline it won’t long before the property spruik machine goes into meltdown over a supply crunch.

Via Banking Day: Messing around with home loan pricing and promotion in a manner loathed by regulators, Westpac has sweetened home loan incentives by almost doubling the rate discount offered to new home buyers that take out a packaged mortgage deal with the bank.

Another one joins the MB led consensus, never a comfy position to be for us, via Morgan Stanley: If clearance rates can sustain in a lifting auction volume environment then we may see a stronger housing recovery – although this looks unlikely to us at this stage”.

By Cameron Kusher, CoreLogic Research Analyst: Last week the Australian Bureau of Statistics (ABS) released their biennial Housing Occupancy and Costs data for the 2017-18 financial year.

The blame shifting over Australia’s apartment crisis is in overdrive, with everything from deregulation to taxation being blamed for the mess.

It had better be.

Strata Community Association NSW president, Chris Duggan, has called on the NSW Government to fund the replacement of dangerous flammable cladding, warning that NSW could possibly have even more buildings impacted by cladding issues than Victoria.

Via Michael Janda at the ABC: The game is rigged and the fix is in.

NSW’s peak strata body warns that Sydney apartment owners are facing a $1 billion repair bill to replace dangerous flammable cladding and has called on taxpayers to pay.

Above is an interesting graphical summary of Australia’s housing market by ABC News.

From CoreLogic’s Cameron Kusher: CoreLogic estimates of monthly settled sales data points to a levelling in housing market activity, following several years of falling home sales according to research by analyst Cameron Kusher.