Australian Property

By Leith van Onselen In the week ended 11 June 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.50% – the fifth consecutive weekly decline, which typically happens this time of year (see next chart).

By Ross Elliott, author of The Pulse: A key thrust of higher density development plans for our various inner city areas was that this would lead to a significant increase in population densities.

By Leith van Onselen The latest rental review for May, released by Core Logic-RP Data, revealed record low rental growth at the national capital city level.

Cop this, Bozo Joe: NSW Premier Mike Baird has urged policy makers to heed Reserve Bank of Australia governor Glenn Stevens, who has warned that parts of Sydney’s property market are “crazy”.

By Leith van Onselen While the Abbott Government continues to spout lies about the impact of reforming negative gearing on rents: Mr Abbott said there was a need to increase housing supply, arguing red and green tape was “literally killing people” trying to enter the market.

By Leith van Onselen To say Treasurer Joe Hockey’s stance on housing is disappointing is an understatement.

Yesterday MB won.

Now that we know unequivocally that we are in the grip of a national property bubble let us explore the likely scenario that pops it.

By Leith van Onselen Last week, it was Westpac demanding the government reform the tax system to remove the bias away from property speculation: The current CGT discount was introduced in 1999 and allows individuals to discount a realised capital gain by 50 per cent provided they have held the asset for 12 months.

From News: RESPONDING to questions about housing affordability in Sydney and Melbourne, the prime minister empathised with people trying to buy their first home.

By Leith van Onselen Concerns over foreign investors pricing locals out of home ownership appears to be boiling over, with a group of Liberal MPs raising the alarm.

From The West Australian: Property and business leaders are urging West Australians not to get caught up in “doom and gloom” about the State economy, saying WA’s future is bright with opportunities growing.

Fresh from the ABC: Mr Hockey was on the defensive today.

By Leith van Onselen More Liberal Party bubble supporters are on the hustings today: Federal Liberal MP Craig Laundy has backed Treasurer Joe Hockey, saying he believes Sydney’s housing market is pricey but affordable.

At various times and in various venues I have watched on as different social interest groups have laid claim to the contemporary high moral ground of Australian victimhood.

By Leith van Onselen Yesterday’s housing finance data for April registered a much needed rebound in buyer demand for newly constructed dwellings following a period of weakness, with the number of commitments for construction and new dwellings rising a combined 3.5% in April and by 1.4% over the year (see next chart).

By Leith van Onselen SQM Research has released its stock on market figures for the month of May, which registered a 3.3% monthly increase in the number of homes for sale, but with for sale listings down by 1.9% over the year (see below table).

By Leith van Onselen Treasurer Joe Hockey really is a clown, today refuting the claim that Sydney housing is unaffordable with the following gem: “If housing was unaffordable in Sydney nobody would be buying it”… “The starting point for first home buyers is to get a good job that pays good money”.

By Leith van Onselen Dad’s Army’s “Mad” Adam Carr has truly entered bizarro world today, penning a piece arguing that Australian housing “is actually very affordable”: Hysteria is a funny thing.