ANZ economists have significantly revised house price forecasts from a bearish 10 per cent decline to a 9 per cent lift in 2021. The counterweight of low rates and government stimulus has flowed through to housing construction, approvals and sentiment, economists Adelaide Timbrell and Felicity Emmett said. The peak-to-trough decline will be limited to 2 …
House prices are set to bottom out by June after a 2.3 per cent fall before bouncing 15 per cent, according to Westpac’s economics team, who believe low mortgage rates and a less severe recession than feared will stabilise the market before a solid recovery. After previously expecting a 10 per cent slump in national …
Growth in housing across Australia at the macro level has broadly outpaced inflation, creating real returns for property owners across Australia. In the June 2020 Pain and Gain report, it was noted the median return for resales on property held for 30 or more years had a nominal profit of $569,000. On the median resale …
Australian house prices are on the way up, moving into neutral or positive territory for the first time since Covid-19 hit. First home buyers are driving the demand for houses, lured onto the market by low interest rates, tax cuts and changing preferences for post-lockdown living, according to the latest quarterly report from Domain. “Consumer …
One of Australia’s major banks has reduced its serviceability floor rate by 0.30% to now sit the lowest of the big four. Westpac’s new 5.05% rate comes in below ANZ’s 5.25%, CBA’s 5.40% and NAB’s 5.50%. The bank has also announced it is undoing a number of its temporary COVID-19 assessment measures, including reinstating the …
The Financial Stability Review showed banks’ share-to-price book ratios have recovered from March but they are still below pre-pandemic levels “reflecting a decline in the earnings outlook and a reduction in investors’ risk appetite”. According to stress test simulations in the report showed banks have sensitivity to falls in GDP, property prices and unemployment. Despite …
For your purchase or investment, these are suburbs you should AVOID. The RISK for off-the-plans property is HIGH and you should be aware. The 10 high-risk suburbs: – Melbourne, Victoria, 3000– Docklands, Victoria, 3008– Mascot, NSW, 2020– Rouse Hill, NSW, 2155– Parramatta, NSW, 2150– Gosford, NSW 2250– Darwin, NT, 800– West End, Qld, 4101– Surfers …
Looking to buy real estate? Avoid units in these postcodes Read More »
On Thursday Westpac broke ranks with the other big four banks to lay down its latest thinking, expecting the property market to get through the pandemic relatively unscathed before booming. Months ago Westpac predicted national prices to fall by 10% and to recover a little more than 8% by 2022. However this week, chief economist Bill …
As the coronavirus crisis drags on, an increasing number of families from Melbourne and Sydney are quitting the city for sunshine and space in Queensland. Agents say some are snapping up homes on the Gold Coast without even viewing them as virtual tours become the new norm. Andrew Bell from Ray White Surfers Paradise said …
Sydneysiders snap up property in the Sunshine State amid COVID crisis Read More »
