Category: Property Market

Its Edwin’s Monday Evening Property Rant!

More from our Property Insider, as Edwin and I discuss the latest from the markets. The numbers are falling in the approach to the end of the year, significantly. We also look at a prime example of the need to lookout below!

http://www.martinnorth.com/

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!

More from Edwin Almedia, our property insider, as we look at the latest “announcables” relating to housing and migration… how much is smoke and mirrors? The latest from the Treasurer makes the point!

The outlook is higher construction costs, a tilt towards migrants with more capacity to buy property, and the risk of more low quality construction, as high-rise height limits are relaxed.

http://www.martinnorth.com/

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

Today’s post is brought to you by Ribbon Property Consultants.

Its Edwin’s Monday Evening Property Rant!

Another dose of truth from our property insider, Edwin Almedia. In today’s show we look at the November property price moves, the falling listings, and the claims agents are making for more pay. We also warn about the risks in high-rise apartments, and how to select an agent.

http://www.martinnorth.com/

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.

Everything Is Fine Boys… Honest!

At a gathering of central bankers in Hong Kong on Tuesday, RBA Governor, Michelle Bullock claimed that household finances in Australia are holding up well, despite 4.25% of rate hikes. The rookie RBA governor appears even more out of touch than her predecessor.

“Households and businesses in Australia are actually in a pretty good position. Their balance sheets are pretty good”, she said.

“We’ve been surprised a little bit on the strength of activity. It’s held up a little better than we thought. That’s meant that services price inflation has held up a bit more. So what we’re observing is a bit more domestic price pressures than we’d expected”.

Bullock pointed to the $300 billion in excess savings built up over the pandemic and rising house prices as reasons behind the resilience in consumer spending.

The reality is not nearly as rosy as Bullock claims. Aggregate household spending is holding up first as population is growing at a record pace because of the Albanese government’s record immigration program, which saw an estimated 500,000 net migrants land in Australia in 2002-23.
Yet, Individual Australian households are cutting back on their expenditure.

http://www.martinnorth.com/

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

Today’s post is brought to you by Ribbon Property Consultants.

Its Edwin’s Monday Evening Property Rant!

More from Edwin, our property insider, as the trends in Sydney and Melbourne property diverge further. We also look at the latest news and political positioning around property and we update the WeChat news as well.

http://www.martinnorth.com/

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.

Youngsters Thrown Under The Bus [Again]

The massive hike in interest rates imposed by the RBA in its attempt to squeeze out inflation is not hitting all household cohorts’ to the same extent. Indeed, some older households with savings and no mortgages are enjoying their wealth boost, after years of low rates eroded their incomes. It is worth noting that the rate of rate increases is the sharpest lift in mortgage rates on record.

Overall mortgage stress, defined in negative cash flow terms has never been higher, as we discussed in our recent live show.

Within that, the consequences are perhaps most profound for younger, often more leveraged households. Indeed, the 2023 Risk Radar Report from credit bureau Experian shows that recent first home buyers that purchased in 2019 or later are suffering the highest rates of mortgage stress, as well as missed payments.

A decline in living standards will most acutely be felt by younger cohorts, as well as those with big mortgages held into retirement and beyond.

http://www.martinnorth.com/

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

Today’s post is brought to you by Ribbon Property Consultants.

Going Nowhere Fast: With Tarric Brooker

Tarric is back for another Friday discussion, charts and all. What’s happening to the Australian economy, and what does it mean for households?

Tarric’s slides are here: https://avidcom.substack.com/p/dfa-chart-pack-24th-november-2023

http://www.martinnorth.com/

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

Its Edwin’s Monday Evening Property Rant!

More from our property insider as we look at the divergence of the market in Sydney and Melbourne, the new state of origin quest between NSW and QLD, and how not to be bullied by agents desperate for a sale.

http://www.martinnorth.com/

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

Today’s post is brought to you by Ribbon Property Consultants.

More Kiwis Are Selling For A Loss!

Recent property purchasers in New Zealand are more likely now to sell at a loss, according to property data company CoreLogic’s latest Pain and Gain Report.

The report found 7.4% of the residential properties sold across the entire country in the September quarter were sold for less than their owners paid for them. But in Auckland, where 11.3% of sales fetched prices below what owners had paid for them. Those least likely to make a loss were in Christchurch where the loss making rate was just 4.7% of total sales.

The proportion of loss making sales has increased rapidly since the beginning of 2021 and is now at its highest point since 2015.

The median size of the loss on properties sold for less than their purchase price was $45,000. However that would likely balloon out to $70,000 or more once selling expenses such as agent’s fees and legal expenses are added.

http://www.martinnorth.com/

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