Property Market – Page 29 – Digital Finance Analytics (DFA) Blog

You Can Hear Home Prices Falling!

Household borrowing power is being reduced as mortgage rates rise in response on the RBA hikes in the cash rate.

As a result forecasts for price falls are accelerating, as price falls are being reported, despite the lag between rate rises being announced and hitting households.

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.

What’s Happening To Canadian Home Prices?

Canada is an interesting analogue to Australia in so many ways, with its reliance on resources and massive exposure to property. Indeed, prices in some centres boomed through the recession. But now property values are falling, and further drops are expected. So today we look at analysis from Canada thanks to RBC Economics.

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

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/

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/