This is the second post relating to our household stress analysis for June 2024, in which we answer specific viewer requests for deep dive analysis at a post code level. Specifically we covered:
First show of the new financial year, so we dive into the impact of the financial changes, and consider the impact on the property market, as well as the latest from the Weechatters and changes to planning rules on values,
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.
We are back for another Friday chat with independent journalist Tarric Brooker, as we explore the latest data and charts and try to make sense of what is playing out politically and economically at the moment.
Can things only get better?
Tarric’s charts are here: https://www.burnouteconomics.com/p/dfa-chart-pack-28th-june-2024
Tarric’s new website and paywall is here: https://www.burnouteconomics.com/p/australias-construction-sector-an
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
The ABS released their latest data on Household Wealth in the March 2024 quarter today. They say in aggregate terms, household wealth was up 2.7% in the March quarter, or $431 billion dollars.
The value of assets is skyrocketing at the moment, but incomes are hardly growing. So if you’re lucky enough to own any assets (like a residential property, or superannuation savings), your wealth is likely increasing. But if you don’t own any assets, you’re missing out.
So, the story continues, with asset prices continuing to swell, in response to policy from Central Banks and Governments, but there are two questions to consider, first will the asset growth continue, or are we reaching levels where the higher for longer interest rates will start hitting home and second, what of the growing number of households with zero assets, and a cash flow deficit.
While superficially the ABS numbers might sound promising, actually they tell a sad tale, of asset inflation, but one which few want to recognise. At least for now.
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 about the state of the Australian Property Market, with Sydney based Mortgage Broker, Chris Bates from Flint.
Chris started as a Financial Adviser back in 2007 and sold his Financial Advice business in 2020. Over the past 9 years, Chris has grown into one of Australia’s top Mortgage Brokers and is passionate about taking the product providing industry to a trusted advice based profession.
He is known for regularly airing his views on sound property investing on both LinkedIn and popular property industry podcasts The Elephant in the Room and Australian Property Podcast. You can find him on LinkedIn https://www.linkedin.com/in/christopherbates
In this week’s Rant we look at forecasts for future property prices (and who makes them), some of the recent changes in the dynamics of property listings, and a warning for those considering a new kitchen. We also consider the latest stats on foreign property transactions.
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.
Last week, yet another building and construction firm hit the wall, collapsing into liquidation owing $5.7m straddling two different states and territories, leading to a “domino effect” impacting 130 projects and 80 staff members.
This is part of the continuing litany of failure, as data from the Australian Securities & Investments Commission (ASIC) shows that a total of 1,245 companies were declared insolvent in May alone.
This is 44% higher than the same period in 2023 and 122% higher than in May 2022. It is also the highest number of insolvencies in a single month since ASIC started reporting this data in 1999. The surge in insolvencies was driven by the construction sector, which recorded 313 insolvencies in May – a record for this cycle.
This is an object lesson for anyone considering contracting with the building and construction firm of any size; do your own due diligence! It also presents another barrier to the Albanese government’s target of building 1.2 million homes in five years—a level of construction that Australia has never achieved before, despite record activity compared with other countries and over 5% of people working in the sector.
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.
This is an edited version of a live discussion, with Leith van Onselen, Chief Economist at Nucleus Wealth, and co-founder of MacroBusiness.
In this show we discussed the recent developments in the housing market, and how economics is playing into the current broken system. Governments are not being transparent about their motives, or their continued intervention into the market.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
https://digitalfinanceanalytics.com/blog/dfa-one-to-one/ for our One to One Service.
In this weeks show Edwin and I look at the latest in political interventions to “help” the property market, consider the impact of more Chinese money coming into Australian property, and the impact of the Bank Of Mum and Dad. Plus, our normal updates on listings, and Edwin’s latest Tip Of The Week.
It’s raining “announcables” at the moment, with interesting developments this past week on the housing and finance front as city, state and federal Governments continue to poke at the broken system. Schemes include, government buying off the plan to give construction firms a leg up, cheap housing for essential workers, changes to lending rules, higher council rates for investors, and further crackdowns on airB&B.
While these may sound attractive from a media positioning perspective, they will hardly move the dial on the broken housing system in Australia. It’s a case of fiddling while Rome burns.
In fact, for more on the broken system, join me on my live show next Tuesday evening at 8pm Sydney, when I will be joined by Leith Van Onselen, Chief Economist at Nucleus Wealth as we discuss “The Great Housing Poker Game”.
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.
