Category: Property Market

New Zealand Housing Inequality Grinds On

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.

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China’s Property Fuse Burns Bright

Every time I look at the Chinese Property Sector, I get a sinking feeling, and a complete contradiction of statements on what is really going on – to the point where it is really hard to know where truth lays.

One report says State-owned developers in China are accelerating plans to tap debt markets in a further sign of easing for the embattled real estate sector, while Beijing takes steps to set up a multi-billion dollar stability fund for the financial industry.

Yet, China’s home sales slump deepened in March, keeping pressure on cash-strapped developers even as policy makers vow to support the property market.

The 100 biggest companies in China’s debt-ridden property industry saw a 53% drop in sales from a year earlier, according to preliminary data from China Real Estate Information Corp. That’s the steepest decline this year.
And one of the biggest developers, said China’s housing market reached a peak last year.

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New Credit Growth Turns South: Property Prices Falling Ahead?

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…

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

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Buying property, is both challenging and adversarial. The vendor has a professional on their side.

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A Spotlight On Mitcham 3132

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.

DFA One To One

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New Zealand Housing Shocks Ahead!

A quick look at the current state of play in New Zealand, as the IMF recommends higher rates, and the Treasury figures the losses from the RBNZ’s programmes. Plus house prices and credit eases. Lots of negative indicators….

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

Why Regional Home Buyers Are Getting Crushed!

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

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A Dire Warning For Mortgage Holders…

Another major bank came out last month with a belated warning for mortgage holders, as the impact of higher mortgage rates hit. Meantime Westpac reaffirms their rise expectations, and lift fixed-rate loans to-boot.

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.

Evergrande Still Haunts The House

Chinese property firms listed in Hong Kong face a March 31 deadline to file annual results, their first audited financial statements since the industry’s liquidity crisis spread. Transparency and governance concerns have cropped up alongside worries about developers’ ability to repay debt following a record number of defaults last year.

Evergrande and its two Hong Kong-listed units this week joined a handful of Chinese developers warning they will probably miss deadlines for reporting audited 2021 results. Separately, its property-services unit said it was looking into how $2.1 billion of its deposits were used as security for pledge guarantees and seized by banks.

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

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Caveat Emptor! Note: this is NOT financial or property advice!!