Domain published their preliminary results for today. The sold volume remains very low.
They note “from Thursday July 9 the Victorian government placed a ban on public real estate auctions as part of social distancing measures to slow the spread of COVID-19. The number of auctions withdrawn in the immediate weeks following the ban are likely to be higher than normal”.
Canberra listed 48 auctions, reported 46 with 36 sold, 2 withdrawn and 8 passed in giving a Domain clearance of 78%.
Brisbane listed 44 auctions, reported 36 with 22 sold, 4 withdrawn and 10 passed in giving a Domain clearance of 61%.
Adelaide listed 33 auctions, reported 22 with 15 sold and 7 passed in giving a Domain clearance of 68%.
The ACCC’s stance on media platforms like Google versus local media companies has unintended consequences. Salvatore Babones from the University of Sydney and I discuss.
Salvatore Babones is Australia’s globalization expert. He is an associate professor at the University of Sydney, an adjunct scholar at the Centre for Independent Studies, a columnist for Foreign Policy and Quadrant, and a regular contributor to The National Interest. A proud American by birth and by habit, he has lived in Sydney since 2008.
The latest in our series of Friday afternoon chats in which Journalist Tarric Brooker @AvidCommentator on Twitter and I discuss the latest economic data.
What is really going on, and will it support a recovery ahead?
I was on The Business tonight discussing the results from our surveys, with a focus on property investors and the tide of renters getting into difficulty creating a cascading issue more broadly for the market.
Join us for a live Q&A as I discuss the state of the markets and the economy with Tony Locantro from Alto Capital. Tony looks at small cap stocks, and also bet on a home price fall with The Kouk. You can ask a question live, or ahead of time via the DFA Blog.
We will send a final reminder closer to the broadcast.
A discussion about investing, with Kerry Stevenson, the founder of the annually held Gold and Alternative Investments Conference.
The event features experts from around the world in the gold, silver and cryptocurrency space, along with numerous ASX-listed precious metals mining companies.
Note she is not a professional investment manager.
The August 2020 data from our surveys continues to tell a sorry tale of more households feeling the pinch, whether they are mortgaged, renting or investing. Within the numbers there was a slid in Victoria in particular reflecting the latest lock down and the rising pressure on business there.
We discussed this at length in our live show yesterday. Here is a link to the HD edition:
Overall mortgage stress came in at 40.1%:
This equates to 1.52 million households, with TAS, VIC and WA leading the pack.
Young Growing Families, and Urban Fringe households are most strongly represented. This includes significant swathes of First Time Buyers.
The post codes with the largest counts of stressed households coincide with areas of high recent development, where households have large mortgages, and VIC is over represented thanks to the lock downs.
Rental stress remains a significant issue also, with 41.1% of Renters in difficulty, or 1.78 million households.
Within the segments, again Young Growing Families are most impacted.
The post codes with the largest counts are revealed here.
Finally, investors remain in crunch territory, with 25.4%, or 826,000 under water, or trying to sell as rentals slide, and property values ease.
More affluent households are most impacted.
Once again Melbourne 3000 contains the latest number of stressed property investors (their investment portfolios can be anywhere, this is where they reside).
We will publish some stress mapping later, but clearly the fiscal cliff, which is now leglislated, will push more over the edge. Expect higher default levels over the next few month, more forced sales and less household consumption.
