Australian Property

It’s the latest refrain of the housing spruikers.

CoreLogic’s weekly housing indicators continue to show accelerating weakness.

Via The Australian: Bill Shorten says he’ll come down “like a tonne of bricks” on employers using 457 visas to fill jobs, rather than training Australians.

By Leith van Onselen For five years, the NSW Budget reaped the windfall of an epic stamp duty boom, which saw receipts more than double from around $3.8 billion in 2011-12 to a peak of $9.0 billion in 2016-17.

CoreLogic released its auction report yesterday, which reported another pathetically weak round of auctions, with auction clearances remaining near 2011 lows. The preliminary national auction clearance rate was just 43.8% versus 45.3% last weekend (later revised down to 41.0%).

Via the excellent Bill Evans at Westpac today: What do our economic forecasts for 2019 mean for Investors?

By Leith van Onselen For years, ‘Big Australia’ booster, the Grattan Institute, has called for Australia’s supposedly underutilised middle-ring suburbs to be bulldozed for apartments and townhouses in order to house the many millions of extra migrants projected to inundate our cities over coming decades.

APRA released it quarterly ADI property exposures yesterday and banks continue to defuse the interest-only time bomb.

Via the AFR: Chinese developer Forise is tossing up taking on a joint venture partner for its $1.2 billion high-rise luxury residential tower “Spirit” in Surfers Paradise on the Gold Coast, or sell the site altogether, as it struggles to sell apartments.

The politico-housing swamp has entered a corruption blow-off.

By Leith van Onselen ABC 7.30 Report last night aired the final of a three part special on Australia’s budding housing bust, which is well worth watching.

These guys really are just too much: Quarterly Statement by the Council of Financial Regulators As part of its commitment to transparency, the Council of Financial Regulators (the Council) has decided to publish a statement following each of its regular quarterly meetings.

By Leith van Onselen The Sydney housing bust is on, with dwelling values falling the most in 30-years, according to CoreLogic.

Via Shane Oliver today: 2019 is likely to be an interesting year for the Australian economy.

By Leith van Onselen With the release yesterday of the ABS’ lending finance data for October, it’s an opportune time to once again chart how capital city house prices are tracking against both investor and total housing finance.

By Leith van Onselen On Tuesday, the ABS has released the September quarter property data showing the total number of dwellings in each state.

Via NAB which now sees -15% for Sydney and Melbourne house prices: We have delayed our expectation for the first RBA increase in the cash rate to the second half of 2020.