Sydney and Melbourne house prices have tumbled again as they edge closer to a full 10 per cent decline over the past year. In the lead up to the official price update for January at the end of the week, CoreLogic data shows Sydney house prices have fallen 9.5 per cent in the 12 months […]
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 […]
The Chinese government’s campaign to stop its citizens from exporting money to buy apartments in Melbourne, Sydney, Vancouver and other places is really starting to bite. And, so, the great driver of the Australian apartment building and the residential property boom — overseas Chinese money — is shrinking fast. Normally, this would trigger a big […]
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 […]
Melbourne is now officially home to the hottest capital city housing market in Australia. According to the latest CoreLogic RP Data capital city house price index, residential property prices in Australia’s second largest city rose by 11.0% in the 12 months to January, displacing the mantle Sydney has held for much of the past three […]
Housing in Australia has been categorised as “severely unaffordable” compared with metropolitan markets around the world, a comprehensive survey has found. Of 10 major metropolitan markets assessed in the housing affordability survey, Hong Kong had the least affordable housing for the sixth year in a row, followed by Sydney. Sydney replaced Vancouver as the second […]
That an entire generation of young Australians has been shut out of the Melbourne and Sydney property markets is bad enough. When you consider though that a solution to the problem of housing affordability is staring policy-makers straight in the face, it is a blatant failure of government. No, it’s not negative gearing we are […]
Housing affordability is a major concern for many Australians. Negative gearing, foreign investment and immigration are just some of the factors identified as pushing house prices beyond the reach of younger people in particular. That’s despite interest rates being at historically low levels, banks being willing to lend more than in the past, and a […]
