My latest chat with our property insider.
https://www.ribbonproperty.com.au/
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Author: Martin North
Martin North is the Principal of Digital Finance Analytics
Property In The Record Books For All The Wrong Reasons
We look at the “property experts” view of the markets, which appears to be on the turn.
Domain published an interesting article before Christmas, looking in particular at the Sydney property market, saying its one for the record books. To which I respond, maybe, but for all the wrong reasons.
Sue Williams wrote: Space: the final frontier – or, for those in the Sydney property market over the past year, the financial frontier. For the biggest trend in pandemic-plagued 2021 has turned out to be the demand for more room in, and around, our homes.
“It’s really been the year when we re-imagined the space in our houses and apartments,” says Domain chief of research and economics Nicola Powell.
“We wanted to have areas in our homes where we could work and, spending so much time indoors during lockdowns, we wanted more living space where we weren’t all on top of each other.
“That’s really driven a lot of the price growth of houses over that of apartments. But another big surprise of the year has been the price growth of three-bedroom units. Generally, the greater number of bedrooms, the more prices have risen.”
It’s been a strange year in so many ways. With rock-bottom interest rates continuing, no sooner did escalating property prices smash all previous records than they smashed them again three months later – with unprecedented back-to-back quarters of price rises over eight per cent.
As first-home buyers flooded back into the market in 2020, they were suddenly washed back out again by the pricing tsunami, with investors diving in to take their place.
Many were only able to dip their toes in early in 2021 because of the bank of mum and dad.
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Our Christmas Box Of Delights: With Tarric Brooker
The latest chat with Journalist Tarric Brooker, as he walks us through his latest charts, just in time for Christmas. He is on Twitter as @Avidcommentator
Go to the Walk The World Universe at https://walktheworld.com.au/Find more at https://digitalfinanceanalytics.com/blog/ where you can subscribe to our research alerts
The End Is Just The Beginning!
This morning at 5:30am my beloved wife of 27 years Gill died from Mesothelioma. Its caused by Asbestos – one of ~4,000 who die each year from this cursed product in OZ. She devoted her last days to telling the Asbestos story and was excited to see the recent media coverage.
In her memory we launched a new website https://asbestosawarenessaustralia.com.au which features her research. AAA is a registered charity, founded by Gill to warn people of the risks. One third of property in OZ contains this product which kills over a life-time from one exposure.
She wanted her legacy to be no more unnecessary deaths, plus legal and political change to remove the risk from future generations. We will treasure you memory Gill, and continue your work….
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More Signs The Property Market Is Turning South
The latest lending data we discussed a few days back highlighted that momentum is easing, and we know that listings are strong, we have been tracking this on our Monday shows with Edwin. So potential buyers can certainly take their time.
And now the AFR is reporting that nearly one in five vendors in Sydney’s northern beaches slashed their asking prices half-way through the marketing campaign, by around 7.4 per cent, or $203,315, on average off the median house price during November, as listings soared and affordability hit buyers’ budgets.
Analysis by Domain also showed that sellers in the premium suburbs and inner-city areas led the pack in discounting their properties as the market started to shift in favour of buyers.
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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.
DFA Live Q&A: HD Replay Leith Van Onselen: Another Lost Decade Ahead?
This is an edited version of our latest live show as I discuss the risk of another lost decade with regard to the Australian economy with Leith van Onselen who in the Chief Economist at Nucleus Wealth and writes as the Unconventional Economist at MacroBusiness.
Leith has previously worked as an economist at the Australian Treasury, Victorian Treasury and Goldman Sachs. He has a strong background in economic policy and financial sector regulation. Leith holds a Bachelor of Commerce (Honours) degree from Melbourne University and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia (now FINSIA). Leith can also be found on twitter: twitter.com/leithvo
Go to the Walk The World Universe at https://walktheworld.com.au/
FINAL REMINDER: DFA Live 8pm SYDNEY: Another Lost Decade Ahead?
Join us for a live Q&A as I discuss the risk of another lost decade with regard to the Australian economy with Leith van Onselen who writes as the Unconventional Economist at MacroBusiness. Leith has previously worked as an economist at the Australian Treasury, Victorian Treasury and Goldman Sachs. He has a strong background in economic policy and financial sector regulation. Leith holds a Bachelor of Commerce (Honours) degree from Melbourne University and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia (now FINSIA). Leith can also be found on twitter: twitter.com/leithvo.
You can ask a question live via the YouTube Chat.
No Santa Rally Here – Market Update 21st Dec 2021
The latest edition of our finance and property news digest with a distinctively Australian flavour.
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.
Its Edwin’s Monday Evening Property Rant!
Join Edwin Almeida and myself as we discuss the latest property news.
https://asbestosawarenessaustralia.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
The Incredible CPI Numberwang
The ABS has annually re-weighted the Consumer Price Index (CPI) and Selected Living Cost Indexes (SLCIs) since 2018, predominantly using Household Final Consumption Expenditure (HFCE) data. Annually re-weighting the CPI ensures that the CPI basket continues to be representative of spending by Australian households.
Last week they published the proposed changes to the index, The 2021 re-weight will apply from the December 2021 quarter. The CPI will be released on 25 January 2022 and the SLCIs will be released on 2 February 2022.
No surprise then that CPI is on average understated. The question is by how much. It is a complex task to try to recompute the true CPI, and it depends on both methodology and baseline assumptions. However my quick back of the envelope estimate is the true CPI in Australia is running closer to 7%. Which means the RBA have taken interest rates way to low, an inflated housing to the max. This is another pure case of Numberwanging…
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.
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