Another dose of truth from our property insider, Edwin Almedia. In today’s show we look at the November property price moves, the falling listings, and the claims agents are making for more pay. We also warn about the risks in high-rise apartments, and how to select an agent.
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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.
This is the third in a series of posts following the recent hearings in Canberra as the Senate Rural and Regional Affairs and Transport References Committee heard from Dale Webster, from The Regional. She and I wrote to the Committee to get this inquiry up and running.
On Friday 1st December 2023 the Senate took evidence in Canberra relating to bank branch closures.
This is the second in a series of posts following the recent hearings in Canberra as the Senate Rural and Regional Affairs and Transport References Committee heard from Robbie Barwick and co who presented the case for a public bank.
On Friday 1st December 2023 the Senate took evidence in Canberra relating to bank branch closures.
On Friday 1st December 2023 the Senate took evidence in Canberra relating to bank branch closures. This is the first of a series of posts which presents some of the important evidence, as the Senate Rural and Regional Affairs and Transport References Committee heard from the Licenced Post Office Group (LPO).
More from Edwin, our property insider, as the trends in Sydney and Melbourne property diverge further. We also look at the latest news and political positioning around property and we update the WeChat news as well.
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.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
The massive hike in interest rates imposed by the RBA in its attempt to squeeze out inflation is not hitting all household cohorts’ to the same extent. Indeed, some older households with savings and no mortgages are enjoying their wealth boost, after years of low rates eroded their incomes. It is worth noting that the rate of rate increases is the sharpest lift in mortgage rates on record.
Overall mortgage stress, defined in negative cash flow terms has never been higher, as we discussed in our recent live show.
Within that, the consequences are perhaps most profound for younger, often more leveraged households. Indeed, the 2023 Risk Radar Report from credit bureau Experian shows that recent first home buyers that purchased in 2019 or later are suffering the highest rates of mortgage stress, as well as missed payments.
A decline in living standards will most acutely be felt by younger cohorts, as well as those with big mortgages held into retirement and beyond.
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.
The currently running Senate inquiry into bank branch closures has flushed out that while banks are claiming they are following their customers into a digital future, actually, they ae rather setting that agenda, removing ATMS and Branches and forcing people to go digital, whether they want to or not.
And some banks have all but admitted they are fudging the figures, to buttress their strategy, never mind the impact on real customers.
While politicians are keen to step back from the argument on the basis banks are commercial entities and should be able to make what ever strategic decisions they want, the truth is banks are a government protected species, who have received massive financial support from us tax-payers via the Term Funding Facility and other measures.
And to reinforce the argument that we are being lied to, according to a news.com.au exclusive article, a former ANZ employee has alleged that the bank is forcing customers out of branches and then using their absence to justify branch closures.
Phillip, a pseudonym told news.com.au that during the time he worked at an ANZ branch in a metropolitan area, staff were directed not to serve customers who came to the branch.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
More from our property insider as we look at the divergence of the market in Sydney and Melbourne, the new state of origin quest between NSW and QLD, and how not to be bullied by agents desperate for a sale.
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.
Australian employment came in much stronger than expected in October while the jobless rate edged higher as more people sought work, suggesting the RBA may have more to do to cool demand and inflation.
As Warren Hogan said: The RBA released updated economic forecasts less than a week ago which were finalised on 7 November – 9 days ago. They forecast employment growth in Dec 2023 of 2.5%. After todays labour force numbers they need employment to fall by 10k in each of November and December to achieve this. If you use quarter average YoY then you need an even bigger fall – something like a net fall of 50k in Nov/Dec. either way the economy keeps surprising on upside and their models will be screaming higher rates. It is their judgement and/or the board that is holding rates down.
On the other hand, a Sluggish increases in hours worked and declining job ads suggest that demand for workers is weakening along with the economy. Given record growth in the working-age population, something will have to give.
That said, Markets largely shrugged off the data. “Today’s figures don’t provide enough of a ‘smoking gun’ for a follow-up rate hike at the December board meeting and that seems to also be the market reaction,” said Diana Mousina, deputy chief economist at AMP Ltd.
“Another rate hike is still a possibility for February 2024 after the next round of quarterly inflation data, but we think the macroeconomic environment will be weaker” by then, she said.
New RBA Governor Michele Bullock recently described the labor market as “not as tight as it was,” noting that some leading indicators such as job vacancies have begun to ease from high levels.
But when you examine the data, we have more questions than answered, and as I discussed on my Tuesday live show, I wonder if the data as presented by the ABS really portrays the current state of employment. My surveys suggest that people are grabbing extra hours and jobs where they can, to help alleviate the costs of living, and of course with population growing thanks to high migration, we need at least 22,000 new jobs each month, just to stand still.
My best guess is the ABS is not picking up the huge immigration surge quickly enough. It is clear the labour market has dramatically loosened. As I say, something will have to give.
Digital Finance Analytics (DFA) Blog
The RBA May Have More To Do - If You Believe The Employment Numbers!
