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Experts warn of ‘debt bomb’ as housing downturn worsens

AUSTRALIA is facing a “debt crisis” — and the property market and our entire economy are at risk as a result. That’s according to the sobering 60 Minutes segment Bricks and Slaughter which aired last night, revealing the country’s property downturn was just the tip of the iceberg. According to reporter Tom Steinfort, the current slump is actually “more […]

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Fourth month of price declines in softening property market

OLIVIA CAISLEY Reporter Sydney @livcaisley The housing market has slumped again with preliminary figures suggesting a soft start to March. While the previous auction ­results in late February had been hailed a “super Saturday”, AMP Capital Chief economist Shane Oliver said that spike in auction clearance rates was just a “temporary boost”. At the weekend […]

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Australia’s housing market on track to cool in 2018 as prices fall in capital cities

Australia’s property market is showing signs of cooling, with national home prices down in the December quarter and conditions expected to remain softer throughout 2018. The national median house price index fell 0.3% in December, weighed down by major falls in Sydney and Darwin and modest weakness across Melbourne and Perth, figures from property data group Corelogic […]

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Sydney property drops after 17-month climb but Melbourne rises

   An auction sign outside a house in Sydney, which had a 0.1% decline in real estate prices in September. Photograph: Bloomberg via Getty ImagesHousing market figures varied as Hobart and Melbourne continue record streaks while Sydney falls 0.1%Sydney’s housing market is finally showing signs of slowing, with new data revealing prices have dropped for […]

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Foreigners pile back into Australian property, reignite bubble fears

Australia’s ‘spring-selling’ real estate season is seeing a defiant return of Chinese buyers, undaunted by lending restrictions aimed at curbing their interest in the country’s sky-rocketing housing market. Financiers and estate agents say Asian investors have found new avenues to re-enter the market, including targeting cheaper homes and settling in cash. Others are turning to […]

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Why Some Think Australia’s Housing Market Is Due for a 2008 Moment

Insane. That’s how Jonathan Tepper, chief executive officer at research firm Variant Perception, described Australia’s housing sector in a word, painting the picture of a market that’s strikingly similar to that of the U.S. prior to the financial crisis. A local 60 Minutes segment that aired on Sunday titled “Home Groans” chronicled some of the eye-popping […]

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Australia:The deepening risks in the housing market

House prices surged further in the June quarter, though growth was concentrated almost entirely in Sydney and Melbourne — which highlights the growing risks in Australia’s biggest asset class. Nationally, the house price-to-income ratio reached a new high, reflecting lower interest rates and elevated investor activity. The current scenario appears unsustainable unless income growth picks […]

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Dark days for Western Australian property market

Plummeting house prices in Western Australia serve as a lesson to all would-be property investors. Western Australia is facing serious problems. Plunging commodity prices are forcing iron ore mines to shut, mining companies to cut jobs, and tax revenue for the state coffers to plummet. But one of the big casualties in this painful process that hasn’t received […]