in a generation has created some obvious losers. Investors who bought at the top of the market are underwater; homeowners looking to sell are having to slash prices and developers are struggling to offload apartments as projects started during the height of the boom near completion.But there are also some winners, from first-time home buyers to stylists sprucing up dwellings to get them camera-ready for sale.
Rent inflation, at 0.5 per cent, is around the lowest since 1993, according to the Reserve Bank of Australia. In Sydney, median weekly house rents declined 1.8 per cent in the December quarter from September, and apartment rents dropped 2.8 per cent, according to property listing website Domain. The return of first-home buyers is supporting the bottom end of the property ladder. The value of dwellings in the lowest 10 per cent of the market rose in the 12 months through January, and was little changed in the next two bands. By contrast, the top of the market is hurting the most: prices for the most-expensive properties fell almost 10 per cent.
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What a crock of shit. First off, prices are the same as 2016: when most people couldn’t afford to buy. Second, the % of FHB is up, but what is that in raw numbers? I wager your left tit there are less FHB in market now too.
If the slump is an hour, we are between 2 and 3 seconds in. It will be longer and more savage than you spruikers realise!
And it's NOT a 'slump'. It's a partial reversal of the worst housing bubble in the world.
Getting ahead 'despite' the 'downturn' NO. First homebuyers finally getting some sort of chance to buy a dwelling because the world's biggest, unsustainable, housing bubble has somewhat deflated. Thereby improving our social stability by having a higher proportion of homeowners
BusinessDay And folks looking to upgrade, surely? If everything goes down 15% (and exey places seem to have fallen by more than many “first homes”) then this downturn cuts the changeover cost, including stamp duty, which is great
Fallen from insane to ludicrous. Rejoice.
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The world's most expensive property market is crashingReal estate is the main game in Hong Kong, and as the drop in housing prices nears correction territory, concern is mounting about the toll the downturn will exact on the city's economy. I am sorry. this got to be most hilarious thing i read all day. Pot calls kettle black !! Did get ridiculous too soon. Remember daughter’s house selling :- extra $200K in 2 months. Remember same daughter buying- (by the normal time settlement) value jumped $250k . In just over 6 weeks . So win / win for her.
Source: smh - 🏆 6. / 80 Read more »
The property market is flooded with houses — but no-one wants to buy themWith vendors dropping their prices and still struggling to sell their properties, new data shows there are more properties on the market and they are staying there for a longer period of time. But buyers are still reluctant, or unable, to take advantage of it. *everyone who didn't get into the property market before it went completely stupid silently raises their hand* Probably Labor's fault. No one want to buy them, because they're already up to their eyeballs in crippling debt.
Source: abcnews - 🏆 5. / 83 Read more »
Business Brief: Labor franking credit proposal 'already impacting' market | Sky News AustraliaFULL INTERVIEW: Your Money host Peter Switzer has weighed in on a mediocre reporting season but says Opposition leader Bill Shorten's franking credits policy has caused a surprising stir in the market.\n\nMr Switzer says the Labor's franking credits policy has several companies paying 'special big dividends', which are then being spent on further shares because interest rates remain so low.\n\nLabor's policy seeks to close a loophole that gives tax-payer funded handouts to wealthy share investors for excess 'franking credits', which are credits that allow Australian companies to pass on tax paid at the company level to shareholders.\n\nImage: News Corp Australia\n\n Very concerning great that will help the deficit seems like a good idea OMG NO Petty bourgeois trash UNIVERSITY radicals are PETTY BOURGEOIS FILTH anti -Marxism which is based 100% for of BY, the working class MOVEMENT !
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia-Indonesia free trade deal to be game changer for cattle industry | Sky News AustraliaTrade Minister Simon Birmingham is in Jakarta where he will sign a long-awaited free trade agreement with Indonesia on Monday. \n\nThe deal, which has been eight years in the making, was delayed after backlash to Scott Morrison's review of Australia's embassy in Israel. \n\nThe trade deal is expected to be a game changer for Australia’s cattle industry, with Indonesia guaranteeing automatic import permits for live cattle. \n\nThe conclusion of the deal will also see 99 per cent of Australian goods enter Indonesia duty free by 2020. \n\n\n senbmckenzie Rubbish - its another flawed agreement that allows multi-nationals to both exploit 482 visas, and also allows them to challenge minimum wage standards - yet again the Libs sell out the workers of this country as a parting gift to their IPA scum donors ga_richardson senbmckenzie Why can we not see the benefits of leaving the EU our friends across the world are our allies senbmckenzie Well done to TurnbullMalcolm too, Peta ? 🙃
Source: SkyNewsAust - 🏆 7. / 78 Read more »