Australian Property

The national auction clearance rate delivered yet another strong result over the weekend, driven again by strong demand in Sydney and Melbourne.

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 8 March 2015.

By Leith van Onselen In the week ended 5 March 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.23% – the second consecutive weekly rise (see next chart).

By Leith van Onselen The final report of the Murray Financial System Inquiry, released in December, was critical of Australia’s tax incentives that enable investors to claim losses from their investments against unrelated wage/salary income.

By Leith van Onselen Following the shock announcement on Tuesday that the Foreign Investment Review Board (FIRB) has ordered the sale of the $39 million Point Piper home Villa de Mare, purchased illegally by Chinese national Xi Jiayin, Treasurer Joe Hockey has announced more illegally purchased homes are being pursued by FIRB.

By Leith van Onselen Australian Finance Group (AFG) has released its housing finance data for the month of February, which registered a massive increase in monthly mortgage applications, with both the number and value of applications also up strongly on the same time last year.

By Leith van Onselen SQM Research’s managing director, Louis Christopher, released his weekly email newsletter last night, which attempted to dispel the notion that Australia has a housing bubble [my emphasis]: Well, the Reserve Bank surprised markets today by holding interest rates steady.

From the AFR: China’s 15th richest man has 90 days to sell one of Sydney’s finest homes, at whatever cost, or face the prospect of prosecution.

It’s a rare good day for Prime Minister Abbott today with several stories suggesting his immediate crisis has passed.

Exclusively for MB paying members from Gerard Minack of Minack Advisors.

By Leith van Onselen Below are some interesting charts compiled from today’s dwelling approvals data from the ABS.

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of January.

Today I thought I’d have ago at what kind of impact APRA’s declared 10% growth limit for bank lending to property investors actually means for house prices.

With warnings suddenly flying thick and fast, the history of bubbles has never seen the likes of what is unfolding in Australian property now.

By Leith van Onselen Fitch has released its 2015 Global Housing Outlook report, which contains some worrying charts on Australia.

By Leith van Onselen The Grattan Institute will launch a new book today entitled City Limits: Why Australia’s city’s are broken and how we can fix them.

By Leith van Onselen RP Data’s price results are in for February, with the daily index recording a 0.32% rise over the month at the 5-city level, with Sydney once again leading the way (see next chart).

Just when you thought the Great Australian Housing Bubble was running out of steam, the national auction clearance rate delivered another frothy result, driven again by strong demand in Sydney and Melbourne.

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 1 March 2015.

By Martin North, cross-posted from the Digital Finance Analytics Blog Speaking on ABC Insiders yesterday, Josh Frydenberg, Assistant Treasurer made the point that the foreign investor regulations, recently announced were open for consultation, and that a number of issues had yet to be resolved.