Australian Property

Via Domainfax: The amount of Chinese cash which once poured into Australian property has about halved, leaving developers and agents scrambling to recapture the record volumes of investment.

CoreLogic released its auction report yesterday, which reported a small rebound in the preliminary national auction clearance rate to 56.7% from 59.1% last weekend (later revised down to 54.9%).

Via Herald Sun: SYDNEY and Melbourne have been the powerhouse for Australia’s booming property market but a new report shows only 17 suburbs across the two cities are seeing increased prices.

From S&P: Australian prime home loan arrears held steady in June. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages remained unchanged from a month earlier at 1.38%, according to a recent report by S&P Global Ratings.

By Leith van Onselen In its May State Budget, the WA Labor Government announced that it would follow the other states and hike stamp duties on foreign buyers of residential property to 7% from 1 January 2019 – a move that would raise $120 million for the State Budget over four years.

It’s all so bloody predictable.

By Leith van Onselen I noted last month how Melbourne was threatening a re-run of the 1890s land bubble and bust.

By Leith van Onselen It seems Australia’s housing spruikers are growing tired of waiting for Brisbane’s housing boom.

By Leith van Onselen The June quarter rental data from the ABS painted a sorry picture for Australia’s army of negatively geared landlords (but an improving picture for renters).

By Leith van Onselen The NSW Legislative Council last night passed the Fair Trading Amendment (Short-Term Rental Accommodation) Bill 2018. The Hansard transcript of the debate can be found (introduction) here and (arguments) here.

Via Gottiboff today: Let’s assume such a major overseas event will not take place and concentrate on the events we can control which are contributing to the housing mess in Sydney and Melbourne.

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

From DHG just now: No surprises there.

Via David Uren today: Analysis by KPMG shows investors are the “marginal” buyers who dictate the prices.

Don’t mistake RBA governor Phil Lowe for a house price bear as the AFR is doing: The message for property investors: this is the housing downturn we had to have.

CoreLogic released its auction report yesterday, which reported a small rebound in the preliminary national auction clearance rate to 59.1% from 56.2% last weekend (later revised down to 54.0%).