Today we walk through the latest and troubling results from our surveys and analysis. Unfortunately, we see a further rise in cash flow stress (something confirmed by other analysts using different methods).
Next week we will be running a live show on the analysis, but today’s show walks through the main highlights.
Given the latest RBA rate hike, we expect more households to get caught out as rate grind higher.
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Today’s post is brought to you by Ribbon Property Consultants.
The latest from Edwin as we look at the trends and numbers for this week. The construction questions surrounding high-rise continues, as the listings in Melbourne rise. Now we come to the upcoming Christmas and New Year break – how will this impact the numbers?
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Today’s post is brought to you by Ribbon Property Consultants.
Contrary to the MSM reporting, home prices are falling fast in some locations. Of course there is lots of spin about relating to this, but are we highlighted in our shows last year, falls were, and are occurring. Once again need to go granular.
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Today’s post is brought to you by Ribbon Property Consultants.
I caught up with Queensland Senator Rennick, and discussed a range of important issues including the accountability and independence of the RBA, regional banking and the digital divide, the digital content bill, and finally, and importantly the role and effectiveness of democracy.
Gerard Rennick is an Australian politician who has been a Senator for Queensland since July 2019. He is a member of the Liberal National Party of Queensland and sits with the Liberal Party in federal parliament.
On 8 July 2023 at the LNP Annual Convention in Brisbane, Rennick lost preselection for the third position on the LNP’s senate ticket for the next federal election, after being narrowly defeated by Stuart Fraser, the party’s treasurer
This is an edited edition of our latest live discussion with Tony Locantro from Alto Capital. Tony is an Investment Manager at Alto Capital in Perth Australia. He has been an active adviser specialising in ASX small cap companies in the mining, biotech and emerging industrial sectors. He was formerly in the NSW Police Force up until November 1998.
Tony has the knack of tell things as they are, warts and all.
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More from our Property Insider Edwin Almeida as we examine the latest data from the markets. Will international ructions impact the market, as sky-high migration continues? Will Canberra succeed in its latest property venture? Will agents “fix” commissions? And will Victoria be the epicentre of the next leg down?
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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.
The prospect of another interest rate rise on Melbourne Cup day has shaken buyers’ confidence, sending auction clearance rates to their lowest level in seven months, data from CoreLogic shows.
Preliminary results show 68.5 per cent of the reported auctions across the combined capital cities were successful, which is 2.3 percentage points lower than the previous week and weaker than the average for this time of the year.
It comes as the number of homes taken to auction soared to 3383, which is the largest volume since the week before Easter last year.
Tim Lawless, CoreLogic research director, said such a large number of auctions was always going to test the depth of buyer demand. “Basically, it has not passed the test as shown by the lower clearance rates, which lines up with renewed speculation that interest rates are about to go higher once again,” he said.
And as reported in the AFR, a build-up in home listings and worsening affordability slashed the rate of house price growth by a third to 1.9 per cent across the combined capital cities during the September quarter, a new report from Domain shows.
Nicola Powell, Domain’s chief of research and economics, said the pace of price increases would moderate further amid rising supply, but the prospect of another interest rate increase was unlikely to halt the broader upswing and reverse the earlier gains. We will see!
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On Melbourne Cup day we will get the next RBA cash rate decision. Michelle Bullocks testimony before the Senate this week was pretty vague – waiting for data, will update forecasts etc.
But as Christopher Joye writes in the AFR, following the material upside surprise to inflation in the September quarter, almost all economists and investors agree that the Reserve Bank of Australia should lift interest rates in November.
But participants worry that a concerted campaign to politically compromise Australia’s central bank may result in the RBA remarkably choosing not to seek to combat its existential inflation crisis.
This would be the latest in a chapter of accidents, with the RBA cutting rates too low, and stoking the economy via the Term Funding Facility, and Quantitative Easing. Their yield control attempts went wrong, and then they held rates way to low, promising no hike for years. And their forecasting is a disaster.
This is a central bank with a 4.1 per cent cash rate that is just a smidge above what it assesses to be the neutral rate of 3.8 per cent. And that is a cash rate that is 1.0 to 1.5 percentage points below peer rates in the US, Britain, Canada and New Zealand.
Even the RBA’s outgoing assistant governor Luci Ellis, who is now chief economist at Westpac, called a “hike” only days after she predicted that inflation would not be robust enough to warrant one.
In sum, we know the RBA should hike in November. Whether it actually does or not appears to now be a question of its ability to resist political interference.
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This is an edited version of a live discussion with Research Director from The Australian Citizens Party, Robbie Barwick as we look at the contemporary issues surrounding the battle to keep cash in the economy, branch closures, the current financial settings, and the broader political and economic background.
The imperative for change has rarely been stronger, and we literally stand on the brink….
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