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?
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.
More from our property insider Edwin Almeida, as we discuss the migration question, granny flats, risks from above 4 story high-rise, and the rental crisis. Plus we look at the latest from the WeeChat universe.
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.
There is a critical issue now on the table, and it relates to what the right level of migration should be. In recent times, the taps have been open more than ever before, and there are significant consequences for households, and housing affordability. Some are now calling for a significant cut in migration, others are celebrating the potential for more home prices rises, as demand outstrips supply across the country.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Another Friday chat with Tarric Brooker, complete with charts on the housing market. We look at what is really driving the disequilibrium in the sector, and what the consequences are for people trying to access the market.
You can follow the charts here: https://avidcom.substack.com/p/dfa-chart-pack-20th-october-2023
And read Tarric’s article on housing here: https://avidcom.substack.com/p/in-australia-housing-is-the-economy
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
The Great Property Paperchase... With Tarric Brooker
One stunning chart which I keep coming back to is the change in income and home prices overtime. It shows simply that housing is becoming more and more unaffordable. We also know that more households have bigger mortgages and so are heavily exposed to higher rates, and that many will still have mortgages well into retirement. Our debt ratios are some of the most extreme across the world, as I have been reporting for years. Great for banks, as they reap interest payments, bad for society. In fact, I believe we are at the point where the drawbridge is being pulled up making it harder than ever to get on to the property ladder or stay there.
Few policies are more harmful to young Australians seeking a place to live than forcing them to compete for housing with hundreds of thousands of new migrants each year.
Future Australians will have to make do with cramped shoebox homes owned by corporations and landlords.
Essentially, the property ownership drawbridge is being progressively raised – but this is by design, not accident. I hope post the voice, Albo and Co will get serious about correcting their mistakes, but frankly I am not holding my breath.
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.
This is an edited version of a live discussion with Cameron who republished his book from 2017 Game of Mates: How favours bleed the nation as Rigged “How Networks Of Powerful Mates Rip Off Everyday Australians”.
This book will open your eyes to how Australia really works. It’s not good news, but you need to know it.’ – Ross Gittins
‘You’ll be shocked at how far the Mates have their hand in your pocket.’ – Nicholas Gruen
Australia has become one of the most unequal societies in the Western world, when just a generation ago it was one of the most equal. This is the story of how networks of Mates have come to dominate business and government, robbing ordinary Australians.
Every hour you work, thirty minutes of it goes to line the Mates’ pockets rather than your own. Mates in big corporations, industry groups, government departments, the halls of parliament and the media skew the system to suit each other. Corporations dodge taxes, so you pay more. You pay more for your house and higher interest rates on your mortgage, more for your medicines and transport, and more for your children’s education and insurance, because the Mates take a cut.
Rigged uncovers the pattern of political favours, grey gifts and information-sharing that has been allowed to build up over two decades. Drawing on extensive economic research, it exposes the Game of Mates as nothing less than cronyism on a grand scale across Australia and how we have fallen behind other countries in combating it.
We also discuss housing policy and economics in general.
Dr Cameron K. Murray was a Research Fellow in the Henry Halloran Trust at the University of Sydney and an economist specialising in property and urban development, environmental economics, rent-seeking and corruption. Professor Paul Frijters teaches at the London School of Economics and was previously Professor of Health Economics at the University of Queensland. He is now an independent economist.
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
DFA Live Q&A HD Replay: Cameron Murray: Mates, Power, Politics & Economics
The latest edition with our property insider Edwin Almeida. We look at the latest “plans” to boost housing, celebrate a 60th anniversary, dissect the latest numbers, and explore why investor property is not working for so many investors as they chose to sell.
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.
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.
Growing difficulty entering the housing market has led to the most first home buyers tapping into the federal government’s Home Guarantee Scheme since its inception four years ago, according to the National Housing Finance and Investment Corporation.
The scheme, which offers three types of guarantees, allows first home buyers to purchase a home with a minimum deposit of 5 per cent to avoid paying mortgage lenders’ insurance. The remaining amount for a 20 per cent deposit – which is required to be exempt from paying the insurance – is guaranteed by the federal government.
The number of first home buyers who used the scheme increased to 45,000 for the 2023 financial year, according to the NFHIC’s fourth annual trend and insights report.
The increase meant almost one in three first home buyers needed access to the scheme to enter the housing market, which is an increase from one in seven in the year prior.
Arrears under the scheme meanwhile have remained at less than 0.1 per cent, which is less than the market average for high LVR (loan-to-value ratio) lending. But the growing cost of living meant the scheme’s arrears were expected to rise in line with the broader home loan market, NHFIC warned.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
More First Home Buyers Tap The Government To Enter The Property Market...
Today I want to dissect some the latest data from New Zealand. In summary, inflation and costs of living continue to bite, more households are in financial distress, inward migration is at a record high, but the property market remains in the doldrums. Worth thinking about ahead of the general election at the weekend.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
More from our property insider, Edwin Almeida, as we look at the latest numbers, consider what may happen as we move through the spring selling season, and discuss the use of an umbrella when inspecting a house or apartment, and the rise of “kiddy-flats”.
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.
