Home Prices – Page 2 – Digital Finance Analytics (DFA) Blog

Kiwis See Average 16% Home Price Falls From Peak, But Hopium Ahead!

In this show we look at the latest property data from New Zealand, from the REINZ and CoreLogic.

The Real Estate Institute of New Zealand (REINZ) released its July 2024 data at the end of August. The national median price decreased by 2.2% year-on-year, from $770,000 to $753,000, and decreased by the same amount month-on-month. For New Zealand, excluding Auckland, the median price decreased 1.5% year-on-year from $680,000 to $670,000. Month-on-month, the median price also decreased by 1.5%.

But here is the REINZ spin. “In July, we saw an increase in sales across the country compared to last year and June 2024. As more listings hit the well-supplied market, buyers are slower to make decisions, extending the average Days to Sell. Despite ongoing economic challenges, early signs suggest potential improvement, indicating favourable conditions in the residential property landscape might be on the horizon,”

The value of New Zealand homes continued declining in August, according to property data company CoreLogic. The median value of NZ dwellings was $811,583 in August, down 0.5% from July. August was the sixth consecutive month the national median value has declined. It’s now down $31,000 since its summer peak in February, and is 16.8% lower than its all time high set in January 2022.

“This all adds up to likely further restraint on property values, although the potential impact of lower mortgage rates can’t be ignored.”

So, as listings rise of course this puts downward pressure on asking prices as prospective purchasers have more choice and negotiating power. The RBNZ rate cut will certainly help the market, especially if further cuts follow. But lower net migration, and the cold winds of recession will continue to haunt the market.

It is certainly worth considering the fate on Australian home prices in the light of what happened in New Zealand, as rate cuts and recession grind the market down. But the one sure thing, true in both markets is that Real Estate Industry Hopium remains fully intact!

http://www.martinnorth.com/

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

Digital Finance Analytics (DFA) Blog

Kiwis See Average 16% Home Price Falls From Peak, But Hopium Ahead!

00:00 / 00:10:33

DFA Live Q&A Replay: Deep Insights Into The Property Market With Spachus

This is an edited version of a live discussion with the founder of Spachus, the property data portal, a true independent in the Australian real estate market, which provides unbiased and transparent data across the country. Their data is updated every 24 hours so you can get the latest trends and insights first! Lets see what is really going on!

https://www.spachus.com.au

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.

Digital Finance Analytics (DFA) Blog

DFA Live Q&A Replay: Deep Insights Into The Property Market With Spachus

00:00 / 01:17:35

Who Killed The Australian Dream? With Elisa Barwick

In today’s deep dive, Elisa Barwick from the Australian Citizens Party shares her research on why housing has become so expensive, and what can be done about it. But this is not the normal discussion of high migration or currently government policy, rather it sheets the cause to a chapter of history dominated by neo-liberalists, austerity and the rise of technocrats who still now dominate our lives.

Links to Elisa’s research:

https://citizensparty.org.au/sites/default/files/2024-07/neoliberalism-home-ownership.pdf

https://citizensparty.org.au/sites/default/files/2024-05/hijacking-australian-banking.pdf

https://citizensparty.org.au/sites/default/files/2024-04/kennett-austerity.pdf

https://citizensparty.org.au/sites/default/files/2024-01/austerity_series-sm.pdf

http://www.martinnorth.com/

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

Digital Finance Analytics (DFA) Blog

Who Killed The Australian Dream? With Elisa Barwick

00:00 / 01:05:55

Kiwi Home Prices Continue To Drift Lower…

Data from CoreLogic shows the “dead cat bounce” in New Zealand home prices, driven by the higher for longer interest rates, and significant pressure to refinance,

Recent changes from 1st July will not have much impact on the market, while the Reserve Bank won’t be cutting rates for some time. Demand will remain weak, as migration starts to turn negative.

Therefore expect more downside to prices, especially in areas of Auckland and Wellington!

http://www.martinnorth.com/

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

Digital Finance Analytics (DFA) Blog

Kiwi Home Prices Continue To Drift Lower...

00:00 / 00:07:37

Kiwi Home Prices Continue To Drift Lower…

Data from CoreLogic shows the “dead cat bounce” in New Zealand home prices, driven by the higher for longer interest rates, and significant pressure to refinance,

Recent changes from 1st July will not have much impact on the market, while the Reserve Bank won’t be cutting rates for some time. Demand will remain weak, as migration starts to turn negative.

Therefore expect more downside to prices, especially in areas of Auckland and Wellington!

http://www.martinnorth.com/

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

Its Edwin’s Monday Evening Property Rant!

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.

https://www.ribbonproperty.com.au

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.

Digital Finance Analytics (DFA) Blog

Its Edwin's Monday Evening Property Rant!

00:00 / 01:17:15

Its Edwin’s Monday Evening Property Rant!

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.

http://www.martinnorth.com/

https://www.ribbonproperty.com.au

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.

Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

Digital Finance Analytics (DFA) Blog

Its Edwin's Monday Evening Property Rant!

00:00 / 01:10:17

Its Edwin’s Monday Evening Property Rant!

In this weeks Rant Edwin and I discuss the fallout from the budget, the latest developments in non-approved extensions, and trends from the WeChat Chatters and Silent Tigers as Australian property is still used to launder money.

You can also join Edwin and I for a live show on Tuesday 21st May at 8pm Sydney as we discuss how to prepare your property for sale. You can ask a question live: https://youtu.be/38o1E_69o3c

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.

Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

Digital Finance Analytics (DFA) Blog

Its Edwin's Monday Evening Property Rant!

00:00 / 01:09:22

The “Tapping Super For Home Purchase” Conundrum!

Housing affordability is shot, as we have been discussing, thanks to demand stoked by high migration, higher lending multiples as the financial system was deregulation, and higher interest rates mirroring the RBA’s battle to tame inflation. As a result first time buyers are delaying their purchase by several years, and more borrowers are leveraged up to the gills, despite first home grant schemes, and shared equity schemes, which as the Productivity Commission showed did help a few get into the market, but lifted prices for everyone else, so did not help structurally.

Australians are already among the highest carriers of household debt in the world. In fact, according to Domain’s 2024 First Home Buyer Report, an entry-price home in Melbourne costs $678,000. In Sydney, it jumps to $927,250. Looking outside the two major cities reduces the cost to $545,000. To be lucky enough to secure any of these options, a 20 per cent deposit will set you back between $109,000 and $185,000.

So where do prospective buyers get that sort of cash? Well some might be able to get help from the Family Bank, as I showed recently, the average is more than $106,000 now, great if you have wealthy parents. Others may be able to save, but it’s a long road, and whilst interest rates are higher than they have been for some time on deposits, it will take years, and longer still if rates are cut later. Then of course there is the old chestnut, use accumulated super.

This week we got a draft report from the parliamentary committee chaired by prominent superannuation critic Andrew Bragg which has upped the ante on the Coalition’s super for housing policy, suggesting first home buyers should be able to withdraw all their retirement savings to buy a house or use it as collateral to help borrow.

My view is that this is actually a proxy political war on the purpose and nature of superannuation, rather than a real honest discussion about how to fix the broken property market. It is in essence a mixture of misdirection – look over there, not here, and avoid the more critical issues of migration control and increased and better-quality supply of affordable housing. Or in other words, it’s a case of fiddling while Rome burns, again.

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.

Digital Finance Analytics (DFA) Blog

The “Tapping Super For Home Purchase” Conundrum!

00:00 / 00:17:14

Its Edwin’s Monday Evening Property Rant!

Another deep dive into property and politics with our Property Insider Edwin Almeida, as we look at the latest spin on affordability and “hot suburbs”.

The drive towards high-rise density has consequences, but even the quality of low-rise is a concern. Meantime, listings are still in the doldrums, while rental availability is largely shot.

And recent DFA coverage stirred up the Chatterers….

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.

Digital Finance Analytics (DFA) Blog

Its Edwin's Monday Evening Property Rant!

00:00 / 01:15:22