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NEWS
10/03/2017
STATE governments are holding the Federal Government responsible for the big solution to the housing affordability crisis hitting major capitals. Treasurer Scott Morrison is under increasing pressure to use powerful taxation levers in the upcoming Budget to move the market away from investors and in favour of first-home buyers. That could mean reducing capital gains tax relief, and limiting or removing negative gearing tax concessions. The pressure increased today as the Reserve Bank left interest rates untouched while warning that […]
09/03/2017
“Supervisory measures have contributed to some strengthening of lending standards.” This 10-word sentence from the Reserve Bank of Australia (RBA) on Australia’s housing market in its March monetary policy statement could signal something important. It seems to be a step back from the more confident tone expressed just one month earlier when it said “supervisory measures have strengthened lending standards and some lenders are taking a more cautious attitude to lending in certain segments”. “Some” strengthening. Like many of our […]
09/03/2017
Soaring home prices in Australia’s biggest cities don’t necessarily mean the country is in the grip of a housing bubble, according to the heads of the big four banks. Testifying at the parliamentary inquiry into banking this week, the chief executives of National Australia Bank, Westpac and Commonwealth Bank all said that while they are worried about elements of the housing market, prices aren’t over-inflated. “I would draw the distinction between a speculative bubble in prices and prices beyond what […]
08/03/2017
THE Reserve Bank has left the official cash rate on hold at 1.5 per cent for the sixth meeting in a row. The RBA was widely expected to keep rates steady at its March meeting after the national accounts released last week showed a marked turnaround in economic growth. Reserve Bank governor Philip Lowe last month spoke three times about keeping rates on hold to balance the need to boost inflation while maintaining financial stability amid record household debt. Real […]
08/03/2017
Confused about the conflicting terms that real estate agents use to quote the likely selling prices for properties? Then get set for the uncertainty to intensify – at least for the next few months. Many agents are adopting highly divergent approaches to quoting prices in the countdown period to the Victorian government’s introduction of new laws to clamp down on underquoting by agents. The most widely used terms include “offers above,” “price on application” or no price indication at all. […]