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Housing Market
22/03/2017
Speculation about a housing bubble is likely to heat up even further, with Sydney and Melbourne property prices up 5.2 per cent and 5.3 per cent respectively over the three months to December, official data released on Tuesday shows. Brisbane real estate prices rose 2.2 per cent, and in Perth they were up 0.3 per cent, according to Australian Bureau of Statistics data recorded for the last quarter of 2016. Across all the capital cities, growth was up 4.1 per […]
21/03/2017
IF you’re looking for a home in Sydney or Melbourne, chances are you’re feeling frustrated, overwhelmed and irate, priced out of the market you were born to buy into. Most are quick to blame the deep pockets of foreign investors, with high demand seeing properties sell for hundreds of thousands of dollars over reserve. Recent figures show one in 10 properties in NSW are being snapped up by foreigners, and with interests rates so low, this trend shows no signs […]
17/03/2017
THE Reserve Bank is prepared to do more to slash rampant investor activity in the housing market, its assistant governor has confirmed. Michele Bullock, RBA assistant governor financial system said the “essence of macroprudential policy is that prudential supervisors recognise potential system-wide risks in their supervision of individual institutions and react accordingly”. She said regulators were continuing to monitor ongoing effects of housing risks “and are prepared to do more if needed”. Ms Bullock said three years ago Australian regulators […]
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 […]