Australian Property

Via the ‘Boff today: Nowhere in Australia are there more danger signals than in inner city apartments.

Via The Advisor: One Sydney-based BDM and former mortgage broker says that one in three clients are unable to obtain a loan as a result of credit tightening policies implemented by lenders.

Today at the AFR: House prices have stopped falling according to a closer analysis by Macquarie analysts.

By Leith van Onselen MB has long argued that the Australian economy is overly reliant (and exposed) to the property market, which poses the clear and present danger that any significant downturn in property values and construction activity could have detrimental ramifications for employment and growth.

Weoo, weeoo, weeoo.

Via CoreLogic: The leading index bottomed out just above 2015 lows, still down sharply on 2016.

By Leith van Onselen To be sure, the CBA money laundering scandal is a big deal.

Via AFR: China’s HNA Group said it had reached a deal to sell a building in Sydney for $205 million in what is the latest in a series of measures taken by the aviation-to-financial services conglomerate to address a liquidity crunch.

Over the long weekend the increasingly desperate Domainfax wasted thousands upon thousands of words in a coordinated assault upon the Australian imagination and its views on property.

Via the legendary John Mauldin: Flying Blind at 20X The housing sector has two characteristics that lead to these problems.

Via Domainfax: Hopeful first-home buyers across Victoria will soon be able to apply for the state government to cover up to a quarter of their mortgage.

Bye: Chinese conglomerate Wanda has confirmed to the Hong Kong Stock Exchange it has sold its Circular Quay apartment development site in Sydney as well as the $900m Jewel triple tower complex on the Gold Coast as reported by The Australian last week.

Via the AFR: Analysts have downgraded the share price of McGrath to as low as 25¢, a far cry from its $2.10 listing price, after a shocking week in which the real estate agent issued another profit warning and lost its chief executive and board.

McGrathmaggedon himself unleashed a torrent of fake news yesterday at a spruiker event: “We will be moving forward at a pace not seen before.

Via CoreLogic: Rental rates increased by 0.1% nationally in December 2017 with capital city rents unchanged and regional rents up 0.5%.

Via the AFR: The out-of-schedule board meeting called for last Friday afternoon at the McGrath real estate agency headquarters in Edgecliff, Sydney, was always going to be a showdown between founder John McGrath and the rest.

Via Gottiboff today: Domain chief executive Antony Catalano — “The Cat” — gave Fairfax Media a growth future in the new era of publishing and he probably saved it from being split into its component parts.

Via the AFR: Sydney has 600,000 bedrooms not being used according to a new analysis that recommends the removal of stamp duty enabling better, cheaper transitions for people in property.

Via the AFR: The residential vacancy rate in greater Sydney picked up to 2.2 per cent in December from 2.1 per cent in November, figures from the industry group showed on Monday.

Via CoreLogic: And the Leading Mortgage Index is now down a meaty 20% year on year, touching 2015 levels: If you’re wondering why you’re seeing some mortgage discounts emerge, here it is.

Lordy, is property falling apart suddenly?

Oh dear, via the ASX: Seems to me that the wrong folks are getting boned.