Australian Property

CoreLogic’s Cameron Kusher has produced an interesting report examining internal migration, which is based on recent annual population data released by the ABS.

By Leith van Onselen The deflation of Sydney’s housing market rolls on, with values falling another 0.06% in the week ended 10 May, according to CoreLogic: Sydney home values have now declined by a cumulative 4.6% over the past 35-weeks, with values also down 4.5% over the past 40 weeks.

The Budget contained recommendations from the Black Economy Taskforce which will be implemented targeting sectors where there is higher risk of under reporting of income, which is expected to reap $5.3 billion in additional revenue over four years.

It is often said of the USA that it is stiflingly patriotic but that it’s most redeeming feature is that its strongest critics are, in fact, Americans.

By Leith van Onselen With the release last week of Australia’s dwelling approvals data for the March quarter of 2018, it’s once again time to examine how Australia’s dwelling supply is tracking against population growth.

By Leith van Onselen CoreLogic has released its Quarterly Review, which contains some interesting data on Australia’s housing market.

Via The Guardian: Every person in Britain should receive £10,000 when they turn 25 to help fix the “broken” intergenerational contract between millennials and baby boomers, an influential thinktank has proposed following a two-year study.

Via the ABC: Rachel and her partner, Harley, are expecting a baby in October.

Recall the UBS take on the Westpac mortgage book via the Royal Commission data dump: Royal Commission releases APRA’s ‘Targeted Review’ into mortgage books In recent days the Royal Commission into Bank Misconduct has released hundreds of subpoenaed exhibits including: internal reviews; board papers; and correspondence with regulators.

CoreLogic has produced an interesting analysis of the rivers of gold flowing to the states from Australia’s property bubble, whereby the tax take has doubled in just 11 years: Over the 2016-17 financial year, state and local governments collected $52.5 billion in taxes from property with the figure climbing by 5.9% over the year.

From SQM Research: SQM Research today has revised down its forecasts for 2018, following recent market evidence that dwelling prices have been falling in Sydney and to a lesser extent in, Melbourne so far this year.

Two factors determine mortgage availability.

CoreLogic released its auction report yesterday, which reported a small rebound in the preliminary national auction clearance rate to 63.5% from 62.5% last weekend (later revised down to 60.3%).

By Leith van Onselen The deflation of Sydney’s housing market rolls on, with values falling another 0.09% in the week ended 3 May, according to CoreLogic: Sydney home values have now declined by a cumulative 4.5% over the past 34-weeks, with values also down 4.4% over the past 39 weeks.

The AFR has gone full blown bear: …buyers without deposits of between 25 to 35 per cent are being squeezed out of the market by the tougher lending conditions, agents claim.

By Leith van Onselen Australia’s youth are really coping it in the neck when it comes to housing.