This week I recorded an interview with The Elephant In The Room’s Veronica Morgan for Real Estate Talk, slated as “your trusted voice in property investment. Australia’s most respected real estate investing experts give tips on wealth creation”.
Importantly, we got to the heart of the property issue, and found much common ground. I may have diluted the perception of being an outright property “bear” but perhaps we underscored the realities in the markets at the movement. And yes, property is still overvalued against long term fundamentals by ~40%.
This week Veronica Morgan catches up with a self-confessed property bear whose message has been largely misunderstood. Martin North explains his thoughts about property investing in a fascinating 2 part interview. Simon Pressley and Cate Bakos talk about why many regional locations are exhibiting firm demand and as a follow on to that story, Kevin Turner asks Miriam Sandkuhler why buying in regional areas. But first Veronica is hot on the trail of a story of particular interest to people with pets in strata with strata layer Amanda Farmer.
Journalist Tarric Brooker and I discuss the vexed question of home prices in the context of the current political and economic backcloth to the lock down. Tarric uses the handle @AvidCommentator on Twitter.
Digital Finance Analytics (DFA) Blog
Some Thoughts About House Prices: With Tarric Brooker [Podcast]
Residential property prices rose 2.4 per cent in the September quarter 2019, the strongest quarterly growth since the December quarter 2016, according to figures released today by the Australian Bureau of Statistics (ABS).
Sydney and Melbourne residential property prices recorded strong growth in the September quarter 2019. Property prices rose in Sydney (+3.6 per cent), Melbourne (+3.6 per cent), Brisbane (+0.7 per cent) and Hobart (+1.3 per cent).
House prices rose 4.0 per cent in Sydney and 3.7 per cent in Melbourne while attached dwelling prices rose 2.8 per cent in Sydney and 3.6 per cent in Melbourne.
ABS Chief Economist Bruce Hockman said, “The increase in property prices is in line with housing market indicators, particularly in Sydney and Melbourne. New lending commitments to households, auction clearance rates and sales transactions all improved during the September quarter.”
Residential property prices fell 3.7 per cent in the year to the September quarter 2019, with all capital cities except Hobart recording falls. This is a noticeable improvement on the 7.4 per cent annual fall in the June quarter 2019.
The total value of Australia’s 10.4 million residential dwellings rose by $189.9 billion to $6,869.4 billion in the September quarter 2019. The mean price of residential dwellings in Australia is now $660,800.
