Melbourne property bubble roars 4.8 percent in just 30 days
Professor Vernon Smith, an expert on housing bubbles and recipient of a Nobel prize for Economics for his work, told the Australian Financial Review earlier this week, “You have a pretty good...
View ArticleWestpac lowers maximum LVR for Self Managed Super Funds
Westpac had slashed the maximum loan to value ratio (LVR) for residential property loans taken out by self managed super funds (SMSF) to 70 per cent. Earlier last month, Westpac lowered the maximum LVR...
View ArticleIllegal foreign buyers on notice, 6 homes purchased illegally to be sold, a...
Six homes brought illegally by foreigners will be sold and a further 462 sales are under investigation with the Treasurer, Joe Hockey, telling Australians more will be forced to sell soon. In May, we...
View ArticleResidential property worth over $1 billion now under investigation by Foreign...
Young foreign students on visas, with no income and who have purchased $5 million properties are just some of the 500 potentially illegal foreign real estate transactions currently under investigation...
View ArticleHousing bust bigger threat than China
Fresh data released today from the China Customs Bureau show imports to China declined 17.7 per cent in the year to September. Exports feared better, falling 1.1 per cent for the same period leading to...
View ArticleCommonwealth Bank second to hike rates
As expected, the Commonwealth Bank is today the second bank to hike interest rates out of cycle, notching rates up 15 basis points. ANZ and NAB are expected to follow. As did Westpac, the CBA blamed...
View ArticleForeign Chinese priced out of Sydney property boom
Foreign Chinese buyers may now be priced out of the booming Sydney and Melbourne property markets according to Real Estate agency PRD Nationwide. In recent weeks, market players have noticed a gradual...
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Australia’s housing market “insane” : Jonathan Tepper
At nine thirty last night, I sat in my allocated seat – G-6, in cinema ten of Event Cinemas’ Marion Megaplex. As a “renter class” citizen, I had just paid the budget price of $12.50 (Cheaper Tuesday)...
View ArticleABC Four Corners: Home Truths
The ABC’s Four Corners has aired an excellent story tonight showing how tax distortions such as negative gearing has created one of the world’s largest housing bubbles: Watch the 45 minute segment here.
View ArticleAustralia’s AAA credit rating at risk following cliff-hanger election
Australia’s trek to the polls on Saturday has resulted in a nail biting, too close to call result. At the conclusion of counting at 2am Sunday morning, the ALP had 67 seats, LNP – 65 and the minor...
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Australia overstating property price growth as apartment crash looms
Foreign investors in Australian real-estate will need to conduct their own sound due diligence after it has been revealed one of the countries leading house price indices has been overstating growth....
View ArticleAustralian Prime Minister warns on household debt levels; Moody warns...
Prime Minister Malcolm Turnbull has called on Australians to be prudent towards excess household debt, saying interest rates will not always remain low. “It’s not for me to give lectures on household...
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Who will purchase all the apartment defaults?
Australia is facing an unprecedented apartment oversupply as an estimated 230,000 new apartments flood the Melbourne, Sydney and Brisbane markets over the next 24 months. The surge in new apartment...
View ArticleAustralian housing bubble too big for government to do anything about.
If there is one person that knows the severity of the Australian housing bubble and the repercussions for our banking system, it is ex Commonwealth Bank CEO David Murray. Murray more recently headed up...
View ArticleChinese capital controls to put damper on Aussie property bubble
China’s most recent capital controls, introduced on the 1st of January, are having an immediate effect, with fewer Chinese buyers able to purchase property abroad. From London to Melbourne, Vancouver...
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Investor mortgage rates rise on confirmation of housing bubble
Nine banks have today hiked interest rates, out-of-cycle, on regulators confirmation of a housing bubble. On Monday, the Australian Securities and Investments Commission (ASIC) chairman Greg Medcraft...
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