Australian Property

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 28 June 2015.

The national auction clearance rate rose marginally over the weekend, continuing the record run of strong results.

From BS on a parliamentary exchange today: Treasurer Joe Hockey is “flying blind” on the topic of negative gearing, amid revelations the Treasury has not modelled on the impact of federal taxes on house prices, Labor MP Jim Chalmers says.

By Leith van Onselen Another day, another warning about how declining rental growth and rising vacancies are punishing Australian landlords.

By Leith van Onselen In the week ended 25 June 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, jumped by 1.15% – the second consecutive rise following the typical seasonal decline in values (see next chart).

By Leith van Onselen The Age is reporting today that the Victorian Government is reviewing residential tenancy laws, which could see rental lease terms extended to up to 10 years: The proposal for long-term leases could lead to major change in Victoria’s rental culture, which is dominated by 12-month leases.

More good work from John Garnaut and Phillip Wen today: With his coiffed hair, polished shoes and a generously collared pinstriped shirt, John Leonard Fitzgerald looks and sounds like a Gold Coast motivational speaker.

Cross-posted from The Conversation: The widening cracks in Australia’s housing system can no longer be concealed.

By Leith van Onselen Tony Shepherd, head of the Abbott Government’s Commission of Audit, has today called for the capital gains tax (CGT) discount, implemented by the Howard Government in 1999, to be unwound.

By Leith van Onselen The Age has run a series of articles (here, here, and here) examining the flood of foreign money, much of it from corrupt sources, that is inflating the local real estate market and pricing young Australians out of home ownership.

From Fairfax: Commonwealth Bank of Australia informed mortgage brokers on Friday of changes that will mean new borrowers’ existing debts and their incomes are assessed more stringently.

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 21 June 2015.

The national auction clearance rate fell marginally over the weekend, but continued the record run of strong results.

By Leith van Onselen In the week ended 18 June 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, jumped by 0.73% – the first rise in six weeks following the typical seasonal decline in values (see next chart).

By Leith van Onselen Robert Gottliebsen (“Gotti”) has obviously gotten off the phone with his mate, “Highrise” Harry Triguboff, who is worried sales of his Meriton Apartments will slow once the Government implements its $5,000 application fee on foreign buyers and tightens rules around significant investor visa’s (SIVs) investing in Australian real estate.

By Leith van Onselen A survey released yesterday by the Australian Property Institute (API) found that the majority of property industry participants now believe that Sydney’s and Melbourne’s housing markets are either already in or entering a bubble.