Australian Property

So far, so good, via Moody’s: Mortgage delinquencies will increase moderately Australian RMBS delinquency rates, which were broadly stable over the three months ended 30 June 2018, will rise moderately over coming quarters, with high debt levels and higher interest rates putting pressure on mortgage borrowers.

The Domanifax machine rolls on at “Essential kids” with a profile of a happy, young FHB family: I live in a one bedroom apartment, with my husband and toddler.

But it’s only a flesh wound for high risk, high leverage investors, via the AFR: The bank is sending a single page letter to investors warning it can “no longer support our commercial relationship with you”, adding it will work with the borrower to help them find a new lender.

CoreLogic weekly indicators show lots of interesting stuff this week.

They just keep getting more bearish at UBS: New comprehensive credit reporting rules from mid-next year could reduce borrowing capacity by about $100,000 for many households, as credit card limits and other debts are taken into account, the bank said.

By Leith van Onselen The Morrison Government has been accused of stifling the development of a “build-to-rent” sector in Australia.

By Leith van Onselen After spending years denying that Australian housing was expensive or that there was a housing bubble, Michael Pascoe has joined the property rent-seekers in calling for Labor to abandon its negative gearing and capital gains tax (CGT) reforms until after the market is stable.

Leith noted earlier today another new poll showing the collapse of community support for mass immigration.

CoreLogic released its auction report yesterday, which reported another very weak wekend of auctions with the preliminary national auction clearance rate at just 55.5% versus 55.0% last weekend (later revised down to 51.8%).

Via Westpac: APRA’s approach to housing pays off The macroprudential approach to easing credit growth while not spurring a shock to the housing market has “pleasantly surprised” regulators.

A bit of property bull porn from Tim Lawless today: “Overall, it’s hard to see a scenario where Australian housing values could fall off a cliff.

The AFR is in meltdown defending its real estate buddies today (Domain being in business with them and all): Real Estate Institute of NSW president Leanne Pilkington said she was left “horrified and speechless” over an “outrageous” competition run in NSW by fixed-fee agents Purplebricks to pressure vendors to lower their asking prices.

By Leith van Onselen The NSW Government is following its counterparts in Victoria and the ACT in implementing new rental reforms: NSW renters are set to see the biggest shake up of rental laws in more than two decades.

As the Hayne Royal Commission prepares its interim report, the panic is growing.

By Leith van Onselen It seems the property industry by-and-large does not support Prime Minister Scott Morrison’s claim that Labor’s negative gearing and capital gains tax (CGT) reforms would crash the market.

By Leith van Onselen Our Property Council Prime Minister, Scott Morrison, has recommenced his scare campaign against Labor’s promised negative gearing and capital gains tax reforms, describing them as a “sledgehammer” that would “crash” the housing market.