Its Edwin’s Monday Evening Property Rant!

Our latest chat about property focused on migration increasing, as announced by the Government over the weekend, and the impact on the markets – especially the rental sector. Plus of course Edwin’s regular updates on Sydney stats, and latest news.

https://www.ribbonproperty.com.au/

Go to the Walk The World Universe at https://walktheworld.com.au/

Yippee – Here Comes Immigration To Save The Property Market!

We all know interest rates are rising, and this is having a significant impact on mortgage underwriting, and so home prices and listing are rising.

But never fear, as the Government has a plan to save the market. Because now we know Labor will use the upcoming Jobs & Skills Summit as cover to launch Australia’s biggest ever immigration program.

So in today’s show we look at what they say, and also discuss the latest negative indicators on listings and auction clearances.

Go to the Walk The World Universe at https://walktheworld.com.au/

Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.

Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

Another Dose Of Anti Spruik!

Thanks to Cookie Boy, we look at more price cuts on listed property across the country.

Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

Annual NZ House Prices Fall For The First Time Since 2011!

The REINZ released their July 2022 data and it tells a continuing story of a weaker market as activity and prices continue to ease and New Zealand house prices falling in July with the median price recording its first annual fall since 2011. The seasonally adjusted median nationwide house value in July fell 2.8% compared with the previous month and was down 1.6% year-on-year, according to REINZ.

The unadjusted median house price was down 1.8% on year. “While the median property price is showing an annual decrease, affordability remains an obstacle for many — which is now being driven by rising interest rates, inflation and tighter lending criteria,” said Jen Baird, chief executive at REINZ, in a news release.

House prices in New Zealand jumped more than 40% in the two years to November 2021. However, a combination of tighter credit, more housing and rising mortgage rates is now weighing on prices.

Kiwibank senior economist Jeremy Couchman said in a note that the first fall in 11 years might be a shock but it needs to be noted that the price falls only put house prices back at levels seen last May. “Nevertheless, house prices have further to fall in the current cycle, as credit conditions remain tight, and confidence is lacking,” he said

The RBNZ, which must consider house prices in its policy deliberations, began raising the cash rate in October last year, describing house prices as “unsustainable”.

Since then, it has said it expects prices to fall 15% from their peak in November. ANZ Bank said in a note that housing was now “decidedly cool” and there was not much in the economic outlook to stop that.

Go to the Walk The World Universe at https://walktheworld.com.au/

FINAL REMINDER: DFA Live Q&A 8pm Sydney: Property Now with Veronica Morgan

Join us for a live discussion about the current state of property with Veronica Morgan. You can ask a question live.

Veronica Morgan is principal of Good Deeds Property Buyers and co-host of Location Location Location Australia & Relocation Relocation Australia on the Lifestyle Channel. She also co-hosts The Elephant In The Room Podcast, and First Time Buyers Academy. https://veronicamorgan.com.au/

Go to the Walk The World Universe at https://walktheworld.com.au/

What A Fine Pickle We Are In: With Roger Brown

I caught up with Financial Sector veteran Roger Brown to discuss the rise and fall of Australian property, and the agencies responsible for the mess we are in.

Roger sheets much of the blame on APRA, plus poor policy from the RBA and Treasury. The net effect is the disenfranchisement of younger households, and the creation of spurious “wealth”.

The truth is, many are going to find the next few years very tough, and there are risks to financial stability.

Roger is on Twitter as @bankcustomers

Go to the Walk The World Universe at https://walktheworld.com.au/

Mapping Rental Stress

A deep dive into rental stress across Australia, as more households wrestle with costs of living and rising rents. There is simply not enough focus on the 2 million households struggling with meeting rental payments, as real incomes are eroded by higher inflation. Go to the Walk The World Universe at https://walktheworld.com.au/

Property Zones: Property Opportunities Or Property Risks?

I caught up with George Markoski from Positive Property Solutions, to discuss the current state of the property markets.

Prices as falling, borrowing power is dropping and interest rates are rising, so where to from here?

I am often asked to debate with those who are bullish on property ahead, so we had an interesting discussion, with some points of agreement, but also some important differences about future prospects. Who convinced you more?

George can be found at https://positiveproperty.net/

Note there is no commercial relationship with George, and I am not in any way endorsing his programme.

Go to the Walk The World Universe at https://walktheworld.com.au/

Raising Rates – Into A Recession: With Tarric Brooker

My latest Friday afternoon chat with Journalist Tarric Brooker about economics, monetary police and social trends.

His charts are available to view at https://avidcom.substack.com/p/charts-that-matter-5th-august-2022

Go to the Walk The World Universe at https://walktheworld.com.au/