Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
Edwin visited me in the DFA studio today for our weekly property chat. We discussed the political ball game around property, news from China about migration to Australia, and how to react to the latest market information.
Is there a path to higher home prices ahead?
Go to the Walk The World Universe at https://walktheworld.com.au/
The REINZ came out last week with their report for March 2022, which they say solidifies the changes in the market seen over the past months as pressure on property prices eases, inventory levels increase, demand softens and sales activity decelerates.
“There is a pervasive feeing of uncertainty, and people are hitting pause. While more stock makes this a favourable market for buyers who find themselves in a position to wait for the right property and negotiate — particularly buyers with their finances lined up — many are balancing fear of over paying with an outlook of further interest rate increases. Conversely, sellers are holding out for the right price in a changed market.
So, we look at the latest numbers and consider the consequences.
Go to the Walk The World Universe at https://walktheworld.com.au/
The Guardian highlights the problems with NSW Public Housing policy. We discuss the reasons why this is happening.
The New South Wales government has sold off $3bn worth of social housing during its decade in power, while failing to meet its own targets for new properties.
New figures released through parliament this week show that since it was first elected in 2011, the Coalition has sold off 4,205 social housing properties across the state.
The sales have added about $3.5bn to the government’s coffers over the same period.
But while the government said all of those funds were used to prove “more, and better” social housing stock, data for new social housing constructions reveal the government has fallen well behind its own targets for new dwellings.
In 2016, the Coalition pledged to build 23,000 new social housing dwellings in the next decade as part of its Future Directions housing strategy. It committed to funding new social housing construction through the $22bn Communities Plus program.
But eight years on, with more than 50,000 people on the social housing wait list in the state, the Communities Plus program has achieved only 10% of that goal.
There was a significant piece in The Conversation by Claire Dale, Research Fellow At The University of Auckland – titled The coming storm for New Zealand’s future retirees: still renting and not enough savings to avoid poverty
A large number of New Zealanders are facing a perfect storm at retirement, with minimal savings and no house, raising the risk that thousands will enter old age in poverty.
According to the latest retirement expenditure guidelines from Massey University, a two-person retiree household living an urban “choices” lifestyle, which includes some luxuries, would need to have saved NZ$809,000. In the provinces, a couple would need to have saved $511,000.
New Zealanders have traditionally relied on owning a home to support themselves during their retirement years. But many of the New Zealanders now aged between 50 and 65 – a cohort of almost half a million people – will go into retirement as renters after skyrocketing house prices over the last three decades put home ownership out of reach.
At the same time, this generation were already working adults when the Labour government introduced KiwiSaver in 2007, and are less likely to have a significant savings cushion.
Go to the Walk The World Universe at https://walktheworld.com.au/
New data from the ABS shows new lending fro property is falling alongside a fall in first time buyers, and average loan size. So we look at this in the context of high rates as NAB and ANZ lift some rates further. And we review the ABS notes on changes to the data series ahead, so things may change again…
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 from our Spotlight series.
Mitcham is a suburb of Melbourne, Victoria, Australia, 20 km east from Melbourne’s Central Business District. Its local government area is the City of Whitehorse. At the 2016 Census, Mitcham had a population of 16,148.
Go to the Walk The World Universe at https://walktheworld.com.au/
Labor has announced a Regional First Home Buyer Support Scheme, which to me is entirely political in nature, and further exacerbates the housing affordability issues we have been discussing. Meantime we discuss our data on rising mortgage stress in the regions, and why this is occurring.
https://alp.org.au/policies/regional-first-home-buyer-support-scheme
Go to the Walk The World Universe at https://walktheworld.com.au/
The latest in our deep dives on a post code. Today we look at a suburb north west of Sydney where units prices are lower than they were in 2017, and where relaxed planning regulations have created a transformed neighbourhood.
This is general discussion only, and the scenarios will change ahead.
You can find out more about our “One To One” service here: https://digitalfinanceanalytics.com/blog/dfa-one-to-one/
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.
Join our live show tonight at 8pm (Sydney Time) as I discuss the latest property trends with Mortgage Broker and Elephant In The Room Podcast co-host Chris Bates, from wealthful.com.au.
We will be looking at the current trends, and consider the dynamics ahead, as rates and listings look set to rise. What are buyers and sellers thinking? And what of the recent Housing Affordability Report?
You can ask a question live via the YouTube chat feature.
The final report of the Housing Supply Inquiry is out, and as expected it misses the main points…
https://www.aph.gov.au/Parliamentary_Business/Committees/House/Tax_and_Revenue/Housingaffordability
We discuss the recommendations, and add our own commentary.
For a more thorough approach to housing affordability, wee my post on Steve Keen’s (TNL) policy, which makes so much more sense.
Go to the Walk The World Universe at https://walktheworld.com.au/