In tonight’s show our Property Insider Edwin Almeida and I chuckle at the “innovative” policy for first home buyers being mooted in the USA (no, these do not work: see Australia!), look at price growth in Perth, and a horror story in Logan City, Brisbane, as well as the normal deep dive in the numbers. And at the end a really useful tip, as usual!
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.
This is the final party of my July Financial Pressure analysis, where we answer specific questions from our audience.
First part here: https://youtu.be/eRM8alMOi4g Second part here: https://youtu.be/sCW1_91LDQo
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.
This is an edited version of a live discussion with Leith van Onselen, Chief Economist at Nucleus Wealth and Co-founder of Macrobusiness as we pick apart the latest economic myths across property and the economy.
Original show is here: https://youtube.com/live/bT-hxYrjJ1A
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This week our property insider Edwin Almeida and I explore the impact of the RBA decision, with voices from various parts of the Sydney market, look at the tussle between REA and Domain and deep dive into the circus which is property and politics.
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.
Demand for a place to live remains very high, driven by population growth from mega-high migration and low but perhaps improving vacancy rates in the rental sector. We know that roughly one third of households own their own property, outright, one third own with a mortgage, and one third rent. Those in the last two categories are expanding, while those who own outright are shrinking as a proportion of the total – though with some state variations.
Over recent decades, the Government has effectively outsourced the provision of rental housing to the private sector, via mum and dad investors, who get considerable tax breaks to hold property for rent, and more recently though the rise of the so-called build to rent sector, which is being held out as a solution to the lack of property for rent.
The critical question is do we want to go further into the mire of neo-liberalism and let big international investors build homes to rent in Australia, with rents that according to Cameron Murray are typically higher than local providers, while offering even more tax breaks, to corporates, or should the Government get back into the home building game, (see my discussion with Elisa Barwick yesterday) through a public bank, and also dial back migration to a sustainable level. Ideology apart the answer seems obvious, and yet… they still want more migrations to pump GDP and more build to rent to meet a housing target which was built in fairy land.
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.
In today’s deep dive, Elisa Barwick from the Australian Citizens Party shares her research on why housing has become so expensive, and what can be done about it. But this is not the normal discussion of high migration or currently government policy, rather it sheets the cause to a chapter of history dominated by neo-liberalists, austerity and the rise of technocrats who still now dominate our lives.
This weeks rant got a bit controversial as Edwin and I dissected a couple of recent bathroom renovations, considered the root causes of social unrest, and discussed whether housing should be a human right. We also looked at the latest numbers and recent media reports, ahead of the RBA decision tomorrow.
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.
Today we look at the real impact of the recent Government support initiatives for households, as we update our models to the end of July, and adjust the tax bands, income changes, extra cost of living support and other initiates from both state and federal governments.
Actually, while there were some improvements, not all households benefitted equally, so we look at the data at a state, segment and post code level, to see who befitted the most.
On Tuesday 13th August we will run a live show on this topic and do an even deeper post code dive.
As the wackiness continues, property insider Edwin Almeida and I pick over the bones of the market, as expectation of rate hikes harden, people are starting to talk about weakness in some places, while the media continue to spruik as though their lives depended on it.
We also look at fascinating insights from Chinese students in Australia and how they manage their finances.
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.
If you chose to look below the hood, you can see some changing dynamics across the property market which may indicate the recent rises in some areas are easing, to the point where the boss of the country’s biggest real estate group has cautioned that vendors may need to rein in their price expectations this spring, after property price growth eased in July amid concerns of another interest rate rise.
CoreLogic’s Daily Home Value Index shows capital city house prices are up 0.4 per cent over the first 27 days of July, compared with growth of 0.7 per cent in June. As the AFR reported, “Vendors need to be careful regarding price growth expectations,” Ray White Group managing director Dan White said.
Another factor we are seeing playing out is the number of investment properties coming onto the market a feature we noted first in Melbourne where rules on investment property were tightened by the state government.
There net investment yields ( that’s the costs to service the property relative to the rental received) is negative for more than half of properties. Trouble is, many of these properties are also lemons, given they often need more than just a bit of TLC, given many have poor wiring, leaks, asbestos and worse.
Now, NSW Premier, who has been talking about making property in Sydney more affordable, announced the introduction of a ban on no-reason evictions, and an extension of mandatory notice periods to 90 days from 60 days. In other words, owners who use legally permitted grounds for eviction – including if they want to live in their own homes – will have to give three months’ notice. In these cases, their renters can walk out, at any time, without penalty. The NSW changes are slated to start early next year.
It already looks like some property investors are leaving the field, thus reducing the supply of rental property. True a first time buyer might step up, but lending standards at higher rates make borrowing capacity an issue. And the risk I see playing out is that well meaning first time buyers will be buying lemons, alongside some ill-informed property investors who still weirdly believe property only ever goes up in value. Just look across the ditch for a dose of reality, as I highlighted recently. There, thanks to slower migration and high interest rates, prices are nose-diving. Will we see a similar scenario in Australia, or will the Government play another card to keep prices buoyant, or APRA reducing lending buffers. Frankly on both counts its likely, but remember folks, a lemon remains a lemon, so in the current environment buy with great care, and prepare for the cracks to swallow up potential prices rises ahead.
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.
