Australian Property

By Leith van Onselen NSW Treasurer, Dominic Perrottet, is out this morning spruiking the Government’s economic and Budget success.

By Leith van Onselen The ABS on Tuesday released its property price data for the September quarter, which valued Australia’s dwelling stock owned by households at a record $6.44 trillion, whereas the total housing stock was valued at a record $6.78 trillion.

From The HIA: “The consistent feature of new home sales in 2017 is that the market is cooling,” stated HIA’s Principal Economist, Tim Reardon.

Via Domainfax: More than half of Australian homeowners with a mortgage would be in dire straits if their repayments increased by more than $100 a month, new data shows.

By Leith van Onselen Last month, The AFR reported that first-home buyers (FHBs) are desperately fighting for land in Melbourne as the city’s population soars: First-home buyers face fierce competition in Victoria’s fast-rising market, with only a quarter of the 84 lots in Stockland’s latest land release going to first-time buyers.

Via Martin North: The UK Property Investment Market could be a leading indicator of what is ahead for our market. But in the UK just 15% of all mortgages are for investment purposes (Buy-to-let), compared with ~35% in Australia.

By Leith van Onselen Yesterday’s September quarter property data from the ABS includes a series showing the total number of dwellings in each state.

By Leith van Onselen In the wake of June’s Grenfell tower disaster in London, which claimed the lives of around 80 people, a special Victorian Taskforce interim report last week identified 1,400 buildings with flammable cladding, including eight hospitals.

By Leith van Onselen Australia’s speculator frenzy has continued to moderate, according to today’s Lending Finance data for October, released by the ABS. As shown below, the annual value of investor loans in New South Wales (read Sydney) continues to fall, whereas Victoria (read Melbourne) – the second hottest market – continues to rise slowly.

By Leith van Onselen A new report commissioned by Urban Taskforce Australia projects that detached houses with backyards will vanish in Sydney over the next 40 years, meaning future children will be forced to grow up in apartments, many in insecure rented accommodation.

By Leith van Onselen Amid fears of a looming oversupply, developers are now abandoning proposed apartment projects in Parramatta in Sydney’s west.

CoreLogic’s weekly property vitals are out.

By Leith van Onselen After last month announcing that it would raise its stamp duty surcharge on foreign property buyers from 4% to 7%, the property lobby continues to swarm against the measure.