Market Essentials - February 2019
In news this month, as we start a new year, consumer confidence continues to decrease, with -4.7 per cent on the Melbourne Institute and Westpac Bank Consumer Sentiment Index. A reading of 99.6 per cent for January 2019 is the lowest since September 2017.
Market Essentials - December 2018
In news this month, CoreLogic’s Cameron Kusher has revealed that 73.6 per cent of properties across Australian capitals sold for less than list price in the past 3 months. This is primarily driven by the Sydney and Melbourne markets, while the proportion of other capitals selling below list price has held firm. Bucking the trend is Hobart, which has seen a reduction in the number of properties selling below list price.
Market Essentials - November 2018
In news this month, all eyes have been on the release of the Royal Commission’s interim report. We can expect conservative lending behaviour to continue, which is posing a challenge for investors.
Market Essentials - October 2018
In news this month, issues at the heart of the next Federal election, like potential changes to policies around negative gearing and capital gains tax are proving to be a growing concern for Australians.
Market Essentials - September 2018
Despite the market cooling, first-home buyers have been playing an important role in sustaining Sydney and Melbourne markets. And Adelaide is proving to be a standout, remaining buoyant and capturing the attention of buyers from eastern states.
Market Essentials - August 2018
Although Sydney and Melbourne’s market slowdowns have been dominating headlines, the news isn’t all bad, with considerable divergence across the country. Hobart, Canberra and Brisbane are seeing positive momentum.
Market Essentials - July 2018
In this month’s news, the performance of houses in Sydney ended up being the worst for the year out of all the capital cities according to Corelogic with a 6.2% fall, and 4.6% fall for dwellings overall.
Market Essentials - June 2018
In news this month, AMP Capital economist Shane Oliver has stated that he is not expecting interest rates to change until 2020, a view increasingly supported by actions from the RBA who are looking to maintain a balance between economic growth and a cooling property market.
Market Essentials - May 2018
In this month’s edition, the real estate slowdown across the country continues, with Domain Group data showing national property prices slumping 1.2% in the 3 months to March. Over the year however, prices were up 6.3% on CoreLogic data, with Tasmania taking out top spot for six of the 10 most sought-after suburbs in the country.
Market Essentials - April 2018
In this month’s news, the Reserve Bank of Australia has broken a record for the longest stretch without an interest rate change, with rates on hold at 1.5 per cent for the 18th consecutive meeting.
Market Essentials - March 2018
As the year starts to take hold, the national property market is likely to continue to “peter out” over the year, according to researchers at Deloitte, who say tighter lending and expected higher interest rates will start to bite.
Market Essentials - February 2018
Most of Australia’s capital cities have started the year on the right foot, outside of Sydney and Melbourne, where average growth has started to plateau after years of exceptional gains.
Market Essentials - December 2017
As we close out the year, it’s been a mixed bag for capital cities across Australia. Despite the ups for the east coast and the downs for the west coast, a recent survey from ME Bank found that Australians are increasingly keen to see property prices fall, with 25 per cent saying they’d be “happy” to see prices decline. More than a third wanted lower prices – and a quarter of these owned real estate themselves. No doubt most of these respondents lived in Sydney.
Loanscape is a premium provider of credit advice for professionals, small business owners, first home buyers and property investors. We are based in Sydney's inner west, serving clients in all states of Australia, as well as expatriate Australians currently living and working abroad.
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In news this month, the demand for mortgages continues to weaken. Cameron Kusher of CoreLogic has speculated that if the fall in house prices is to be attenuated then we could see the RBA cut rates and APRA relax its tightening of lending conditions. Westpac’s chief economist Bill Evans is now predicting 2 rate cuts before the end of this year.
As we start a new year, consumer confidence continues to decrease, with -4.7 per cent on the Melbourne Institute and Westpac Bank Consumer Sentiment Index.
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