Australian Property

Via Domainfax:  “Spoilt” vendors have been forced to eat humble pie in the inner city Sydney suburbs of Redfern and Darlinghurst as asking prices continue to fall.

Via Capital Economics: The stagnation in house prices in Australia in recent months is a big deal as it means housing won’t support the economy by as much as in recent years.

By Leith van Onselen The Turnbull Government’s desperate attempt to keep the East Coast property bubble going has hit a snag with the Senate looking as if it will vote down the Government’s legislation to allow first-home buyers (FHBs) to use up to $30,000 of voluntary super contributions for a housing deposit.

Via CoreLogic: Now running at 2013 levels and going nowhere fast.

By Leith van Onselen In the lead-up to the New Zealand General Election on 23 September, which delivered a change of government, opinion poll after opinion poll ranked housing as the key issue that would decide the election.

It’s the punching bag that keeps on giving: Downgrading existing no guidance is a new one and not very encouraging… …”significant slow-down in traditionally volatile Project Marketing segment”…that is, apartment bust.

It’s awwn.

Hello: More than 550 apartment buyers will have their sale contracts cancelled after a Singapore-based developer scrapped plans for a residential skyscraper in Melbourne amid a legal stoush.

By Leith van Onselen With the ABS yesterday releasing its dwelling approvals data for September yesterday, it’s an opportune time to once again examine how dwelling construction is tracking against population growth at the national and state and territory levels.

By Leith van Onselen More evidence has emerged that Sydney’s housing boom looked cooked.

By Leith van Onselen After last week’s Productivity Commission (PC) report included a recommendation for the states to shift from stamp duty to land taxes, and the property lobby endorsed the idea, attention has turned to how the reform could be implemented in practice.