Thanks to Cookie Boy, we look at more price cuts on listed property across the country.
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.
Join us for a live discussion about the current state of property with Veronica Morgan. You can ask a question live.
Veronica Morgan is principal of Good Deeds Property Buyers and co-host of Location Location Location Australia & Relocation Relocation Australia on the Lifestyle Channel. She also co-hosts The Elephant In The Room Podcast, and First Time Buyers Academy. https://veronicamorgan.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with Financial Sector veteran Roger Brown to discuss the rise and fall of Australian property, and the agencies responsible for the mess we are in.
Roger sheets much of the blame on APRA, plus poor policy from the RBA and Treasury. The net effect is the disenfranchisement of younger households, and the creation of spurious “wealth”.
The truth is, many are going to find the next few years very tough, and there are risks to financial stability.
Roger is on Twitter as @bankcustomers
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Latest from Edwin our property insider. This tip of the week today is gold. https://www.ribbonproperty.com.au/ Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with Peter Marshall from Mozo as we discussed the fall out from the RBA rate rise last week, and how it is playing out for mortgage holders and savers. Are we at another inflection point?
Peter Marshall has been working in the Australian banking and finance industry for over 20 years and oversees Mozo’s extensive product database. He is regularly sought out for his expert commentary and analysis on banking and interest rates trends by print, radio and TV media. https://mozo.com.au/
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A deep dive into rental stress across Australia, as more households wrestle with costs of living and rising rents. There is simply not enough focus on the 2 million households struggling with meeting rental payments, as real incomes are eroded by higher inflation. Go to the Walk The World Universe at https://walktheworld.com.au/
I caught up with George Markoski from Positive Property Solutions, to discuss the current state of the property markets.
Prices as falling, borrowing power is dropping and interest rates are rising, so where to from here?
I am often asked to debate with those who are bullish on property ahead, so we had an interesting discussion, with some points of agreement, but also some important differences about future prospects. Who convinced you more?
George can be found at https://positiveproperty.net/
Note there is no commercial relationship with George, and I am not in any way endorsing his programme.
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The Bank of England is the latest central bank to raise interest rates by at least 50 basis points in one go this year as it unleashed its biggest interest-rate hike in 27 years and warned the UK is heading for more than a year of recession under the weight of soaring inflation.
The half-point increase to 1.75% was backed by eight of the bank’s nine policy makers, who also kept up a pledge to act forcefully again in the future if needed, potentially putting similar hikes on the table for coming meetings.
They sheeted much of the inflation to ultra-high energy costs, following on from gas prices which have been driven higher by the Ukraine situation. Inflationary pressures have “intensified significantly,” the BOE said. “The latest rise in gas prices has led to another significant deterioration in the outlook for activity.”
The BOE lifted its forecast for the peak of inflation to 13.3% in October amid that surge in gas prices, and warned that price gains will remain elevated throughout 2023. That will sharpen a cost-of-living crisis that will see real disposable incomes fall more than at any time in around 60 years. Even after billions of pounds of government support for struggling households, families are set to be around 5% worse off by the end of 2023 with incomes falling both this year and next.
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.
The head of the United Nations has accused oil and gas companies of “grotesque greed” and urged every government to impose a windfall tax on their “immoral” record profits. António Guterres, UN secretary-general, said money made “on the backs of the poorest” must be returned to the most vulnerable households just days after BP and Shell reported massive profits in the wake of the Ukraine crisis.
Tony Wood, the head of the energy program at the Grattan Institute in an opinion piece in the AFR, says that the latest, six-monthly Gas Inquiry Report released on Monday by the Australian Competition and Consumer Commission (ACCC) does not go far enough. The findings of the latest Gas Inquiry Report make for depressing reading. The concerns identified are severely harming both gas and electricity consumers, and we have not yet seen the worst.
We covered this report in an earlier show, and also discussed it last Tuesday on our live show with David Llewellyn Smith. Put simply the Energy cartel are taking Australians to the cleaners, and making excess profits in the process – largely war-induced thanks the Russia Ukraine situation. 97% of the Gas conglomerates are offshore owned, and so the excess profits are going offshore, whilst crippling the local economy, businesses and households.
Tony Wood makes the point that the stated objective of Australia’s national gas market is to supply natural gas services for the long-term interests of consumers. But this is simply not the market described in the latest ACCC report.
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.
