Property News, Comments and Testimonials

2018: A year to remember for all the wrong reasons
Market comment: 2018: A year to remember for all the wrong reasons
The Sydney property market is well and truly back in the news, but unlike just two years ago it's now all about price falls rather than soaring property values. We're now heading for a new 28-year record annual drop that will eclipse the fall in 1990 when prices tumbled by 7.9 per cent annually. How times have changed. Restrictions ...
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Affordable housing can be a reality, even in Sydney
Market comment: Affordable housing can be a reality, even in Sydney
Housing finance figures from the Bureau of Statistics confirm that investors continue to depart the housing market. Unlike earlier periods of investor disinterest, this time around owner-occupiers are also taking out fewer mortgages than they were a year ago. Despite interest rates being at record lows, Australians aren't choosing to to buy or invest in property nearly as much ...
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Spring is here with early rewards for property buyers
Market comment: Spring is here with early rewards for property buyers
The slowdown in real estate activity continues across Sydney, but there are signs the market is quickly adjusting to the new realities confronting buyers and sellers in a changed property environment. Harry Triguboff, owner of Meriton and one of Australia's richest men, told ABC News that Australia is in an apartment development slowdown: "I'm experiencing [the downturn] more than anyone ...
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That sinking feeling as prices head south
Market comment: That sinking feeling as prices head south
It's a bit like watching a sinking ship. The prices of Sydney property are going down, and from the surface we can see the hull going under. But how low it will go before it finally settles is hard to predict, and property analysts are coming up with a variety of forecasts. As we reported last month, the ANZ Bank ...
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Sydney property sees tighter credit, falling prices, rising mortgage rates
Market comment: Sydney property sees tighter credit, falling prices, rising mortgage rates
The end of the 2017-18 financial year has come with a wealth of statistical data about house prices, and the property market experts are poring over the numbers to make their predictions for the balance of 2018 and beyond. Their conclusions are broadly that house prices in Sydney have dropped about four to five per cent since their peak ...
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What went up has now come down, but for how long?
Market comment: What went up has now come down, but for how long?
To read reports in the daily press, it sounds like some sort of disaster has befallen the Sydney property market: “Auction clearance rates down, asking prices down, times on market up, investor lending falls,” and if we weren't comparing our present numbers to those of the recent three years of boom conditions we might be more concerned. Which is ...
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Sydney property sets world record, then steps back
Market comment: Sydney property sets world record, then steps back
Interesting news from Domain: Australian house prices recently set a world record after gaining 6556 per cent in 55 years, according to calculations from the Bank of International Settlements and referenced by UBS, with growth averaging 8.1 per cent each year during that period. The report added that prices had doubled every nine years, and that it was the longest ...
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A tale of trillions, softening price rises and intergenerational theft
Market comment: A tale of trillions, softening price rises and intergenerational theft
In case you've ever wondered just how much Australia's housing market is worth, a new report from the Australian Bureau of Statistics (ABS) tells us – a whopping $6.87 trillion. In fact, just between September and December 2017 it grew by almost $93 billion, but it's the details of that fourth-quarter that make for interesting reading. Even though the national ...
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Sydney property in 2018: no hurry, few worries
Market comment: Sydney property in 2018: no hurry, few worries
The gradual slowdown in the Sydney property market continues, showing few signs of any sudden acceleration that might indicate vendors are heading for the exits. In fact, vendors seem to be adapting well to easing prices and are adjusting their expectations accordingly. The Financial Review's Michael Bleby reported that discounts are rising and times on market are growing as key ...
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Sydney property enters the slow lane – for now
Market comment: Sydney property enters the slow lane – for now
In the ten years since our Market Comment began, it would be hard to find a single year without someone in the media mentioning a forthcoming ‘crash' of the Sydney housing market. Even if times are good, the doomsayers will often forecast a dire ending. And if times are bad, too often there's a focus on the negatives and warnings ...
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What’s going to happen to Sydney Property in 2018?
Market comment: What’s going to happen to Sydney Property in 2018?
As the new year gets underway and we start writing ‘2018' where ‘2017' used to be, Sydney property owners and would-be owners would naturally be interested to know what events will shape the city's property market over the next twelve months. We are once again reminded by concerns about property prices that property investments are always best viewed as ...
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Owner-occupiers step up as investors step back
Market comment: Owner-occupiers step up as investors step back
Over the past five years we've become used to investors dominating the Sydney property market, but new restrictions on loans to investors have decreased their previous levels of activity and have even started to influence property price rises. Cameron Kusher, senior research analyst at CoreLogic, says that at their peak in May 2015, investors accounted for 54.8 per cent of ...
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The rollercoaster is in full swing - Interest rates stable but property price growth slows
Market comment: The rollercoaster is in full swing - Interest rates stable but property price growth slows
One month of negative growth in the Sydney property market has been followed by a second monthly fall, and by an announcement from CoreLogic that home prices have dropped 0.6 per cent in the past quarter. Not a disastrous result, true, but confirmation of a price trend that's likely to be with us for quite a while. "Seeing Sydney listed ...
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Special report: 2012-2017 - Anatomy of a property boom
Market comment: Special report: 2012-2017 - Anatomy of a property boom
We've experienced five years of a property boom that's unprecedented in this city's history. It's dramatically increased real estate values across the metropolitan area and made asset-rich millionaires of almost everyone who owns a freestanding house within 20km of the CBD. And now it's ending. But how did it start and what drove it along the way? 2012 Early in ...
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No more double-digit growth, but growth nevertheless
Market comment: No more double-digit growth, but growth nevertheless
As evidence that Sydney's recent property boom is ending, the latest figures from CoreLogic confirmed that dwelling values in August were flat across the country: “As for Sydney, its housing values slowed to just 0.3 per cent in the last three months, and has been consistently easing since October last year.” "If the current trends continue, by the end of ...
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Sydney property to see further growth as units outperform houses
Market comment: Sydney property to see further growth as units outperform houses
July auction figures showed that, as expected,Sydney's housing market continues to slow. The monthly rate of growth in home prices fell around one per cent – from 3.1 per cent to 2.1 percent according to CoreLogic statistics. National valuers Herron Todd White say that Sydney's five-year property boom for houses and units is running out of steam as lenders' demands ...
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The boom retreats, the bubble deflates, and a dream ends
Market comment: The boom retreats, the bubble deflates, and a dream ends
The latest – and greatest, Sydney property boom has now been with us for half a decade, and in that time prices have rocketed upwards by an average of $100,000 each year. In so many ways, things will never be the same again. Prices are so high that for many would-be buyers they're unaffordable. Who in 2012 would have thought ...
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A package, a hit on overseas buyers, a bubble and a peak
Market comment: A package, a hit on overseas buyers, a bubble and a peak
It's been a big month for Sydney property. One important development was the Berejiklian government's release of a package of measures intended to improve housing affordability, clearly favouring first home buyers over investors in a softening market. When Premier Gladys Berejiklian first came to power in January this year she said housing affordability was ‘the biggest issue people have across ...
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More price rises, investor worries and the magic pudding of supply
Market comment: More price rises, investor worries and the magic pudding of supply
The May 9 federal budget's promised ‘housing affordability package' turned out to be a mixed bag of 15 measures aimed at "reducing pressure on housing affordability". These measures might bring a bit of relief to low-income tenants, restrict investor lending to some extent, help older Australian downsize their homes, and raise the hopes of some first-home buyers, but are unlikely to ...
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Housing affordability is in the news and on the table
Market comment: Housing affordability is in the news and on the table
It seems like everyone wants to improve housing affordability but none of the major players who might be able to do something about it want to take the first steps towards actually achieving it. There's little question something has to be done, but what is it? As National Australia Bank chief economist Alan Oster told the Herald's Eryk Bagshaw, housing ...
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