Australian Property

By Martin North, cross-posted from the Digital Finance Analytics Blog: Having looked at changes in investment loan supply, and the motivations of the rising number portfolio property investors, today we use updated data from our rolling household surveys to look at how property investors are positioned should mortgage rates rise.

By Leith van Onselen The International Monetary Fund (IMF) has concluded its 2016 Article IV Consultation with Australia, issuing the following warning about Australia’s housing and debt risks: By some metrics, housing market conditions have cooled, in tandem with intensified prudential and regulatory steps, but risks related to house price and debt levels remain.

By Leith van Onselen It’s official. After months of speculation, the Turnbull Government will axe the National Housing Affordability Agreement (NHAG) in the upcoming Budget.

From the HIA: “New home sales hit a two year low in October last year, but recovered well in November and December,” said HIA Chief Economist, Dr Harley Dale.

From the Digital Finance Analytics Blog: The latest loan data was a wake up call to the industry and regulators.

By Leith van Onselen A day after its subsidiary, Bankwest, slammed the brakes on property investment lending for new customers, its parent, the CBA, has done likewise.

By Leith van Onselen Yesterday, Residex amended its property price index results for the December quarter to include median values, thus providing an opportune time to yet again compare how each of the major data providers are tracking each other across the major markets.

By Leith van Onselen An overwhelming majority of 26 economists and housing experts surveyed believe that Australia’s three biggest cities are facing falling apartment prices once the deluge of apartments currently under construction hits the market, causing an oversupply.

From Gotti today: The biggest single difference between the parties is that the ALP plans to restrict negative gearing to new buildings.

The keystone in the great Australian mortgage ponzi, Genworth LMI, reported today and it wasn’t terribly encouraging: All of that is serious matter of perspective.

By Leith van Onselen From SQM Research comes stock on market figures for the month of January, which fell sharply both on monthly and annual terms: As shown above, property listings nationally fell by 3.0% in January to be down a hefty by 5.5% year-on-year.

From Domainfax: Independent economist Saul Eslake says that if you see the rebound in investor lending as a concern, there are three options on the table.

Via the AFR: Bankwest, a subsidiary of Commonwealth Bank of Australia, has slammed the brakes on property investment lending for new customers.

By Leith van Onselen For close to 15 years, Residex has reported house and unit price growth using a combination of repeat sales technology, hedonic technology and median/stratified median index technology.

By Leith van Onselen CoreLogic has released a new report examining housing affordability, which paints a generally depressing picture: This report includes four measures of housing affordability, including rental affordability, which show different outcomes… The four measures utilised by CoreLogic are outlined below.

Here’s the realty-negative piece produced prior to the RBA meeting every month by Domainfax: Hong Kong-based hedge fund manager Apt Capital Management has shorted Australian banks because of their exposure to a property market it believes is out of step with Australia’s economic strength.

By Leith van Onselen Treasurer Scott Morrison has confirmed that the Government has forced the sale of another 15 homes that were illegally purchased by foreign nationals in contravention of Australia’s foreign ownership rules, taking the total to 61 forced sales.

It’s a property boom with fewer and fewer winners.