Australian Property

The AFR has a fun little piece on Stockland today: Stockland’s $700 million The Grove Estate on Davis Road in Tarneit, about 28 kilometres west of the Melbourne city centre, is up for sale to a select group of buyers for a price understood to be between $150-$170 million.

Is a free radical loose among the banking game of mates?

Via S&P: Australian prime home loan arrears fell in August, according to a recently published report from S&P Global Ratings. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages was 1.36% in August, down from 1.38% in July.

Dear God this makes for some delusional reading.

Mark down the date, via The Australian: Labor sources said the reforms would most likely be implemented on July 1 next year if an election was called in the next six weeks and the party won government — or on July 1, 2020, if the poll was held as expected in May.

The corrupt Treasury is hard at it, openly trying to restore criminal banking: Treasury secretary Philip Gaetjens has warned that a key risk to Australia’s strong economy is banks cutting their lending too much in response to the Royal Commission into financial services and tougher credit rules imposed by the prudential regulator.

By Leith van Onselen When he was planning minister in the former government, Liberal leader Matthew Guy was known as “Mr Skyscraper” for vowing to position Melbourne as the tallest skyline in Australia: “Melbourne’s skyline will continue to dramatically change, compared to other cities .

It was an amazing spectacle yesterday as a property locust swarm descended on the nation’s media.

Via Mortgage Choice: Too early, I think not.

By Leith van Onselen ABC 7.30 Report last night ran a segment on Australia’s auctions crash, which is mirroring the Global Financial Crisis.

By Leith van Onselen Melbourne’s house price falls continue to accelerate, according to CoreLogic.

By Leith van Onselen Sydney and Melbourne house prices are “falling by over $1,000 a week” and there’s worse to come, according to Deloitte’s latest business outlook.

By Leith van Onselen While apartment owners are being stung by huge costs and are embroiled in legal battles relating to dangerous flammable cladding that now must be removed, the builders of these abominations are escaping relatively scot-free.