October Property Market Update

Positive news for Australian property

Tis the season to be jolly’ with this year’s Christmas bringing good news to our property market!

Rents are down and there is capital growth in most capital cities. All players in the market will be, or should be happier and feeling more comfortable about their financial positions. This situation bodes well for a happier Christmas with things looking as though they will be better than they have been for a number of years.

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October 2012 Capital City Property Market Update

Australian housing markets continue to show improvement

The latest Predictions Reports are now available, visit residex.com.au for more details.

As the year is quickly coming to an end, by the time I write next month’s newsletter most of you will be so engrossed in the festive season there will probably be a low interest in the housing market and its performance, and the real estate selling season in city areas will have all but closed down. However, holiday resorts around the country will be gearing up for potentially the best part of their selling year. If you are going on holidays to one of the idyllic locations and looking to buy a holiday home, take care and look but avoid buying during the holiday season. If you are set on a property in one of these fantastic locations, come back and do the deal once you have had time to research and think clearly about it. Outside holiday periods, these areas can perform very different and so often present better buying opportunities.

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Residex Retail Reports

Residex Report

March Quarter 2012 Currently Available

The Residex Report is a quarterly report that is available for each State/Territory across Australia. It is our ‘heavy weight’ Report that contains over 100-pages of information down to a suburb level for each state. A state specific commentary is also provided in each Report, which aims to help you become the expert.

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From the CEO

Predictions lead market performance

Once asked by a reporter what is the best lead indicator of the housing market, my answer was not as expected. Anticipating a response indicating auction clearance rates, sales activity or even perhaps sales listings, it was to his surprise that my answer was related to our own Residex Predictions Reports sales and website traffic.

Residex Predictions Reports are purchased once an investor has made a decision to look for property to buy. This is the starting point.

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From the CEO

Missed Opportunity by RBA

Written on Wednesday, 8 February 2012.
Released Friday, 10 February 2012.

The decision made by the Reserve Bank this week to keep interest rates on hold is disappointing. My disappointment stems from the fact that our housing markets were at a cross road, with the numbers we have been producing suggesting they could either move forward or continue in the correction phase.

The RBA outcome has left me wondering whether or not it was a challenge to the banks to identify the margin of increase they need to cover funding costs before they go about reducing rates. A rate reduction at this time would have made it very easy for them but the banks are now left with a hard decision. Continue reading

From the CEO

Spreading the Christmas Cheer

At Christmas time we could all do with a good dose of something positive.

Despite the significant and ongoing press about the economic concerns in Europe, our housing markets have turned in one of the best monthly performances since March/April this year. The Reserve Bank’s (RBA) reduction of the cash rate and the welcomed similar adjustments in home loan interest rates by lenders appears to have had a positive impact. Both the monthly and quarterly growth rates for Australian housing are positive in nominal terms and just negative (-0.7 per cent estimate) in real terms.[1]

The table ‘Australian Housing Growth’ presents housing market results for the year to-date, November 30 2011.

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From the CEO

Worlds Apart

I am currently travelling in Europe and in every respect Australia is so very different to here.

The beauty of Europe and its graphic history that is present in every town and village you visit remains unchanged. The attitude of the people however is what has changed. Unemployment is evident and if you ask the locals what they think about the government they hold little optimism and seem to be expecting recession.
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From the CEO

Mortgage Rates: On Hold!

It has been a month of considerable uncertainty. It started with discussions about the Reserve Bank of Australia being poised to increase interest rates then comment by us, and others, that the economy was fragile and the bias of the RBA to interest rate settings should be to the downside, not upside. The uncertainty has impacted on our housing markets and improvements we were expecting to see in some areas have not come to pass.

In this newsletter, I present the trends in the most significant markets and consider appropriate strategies for those interested in investing and those who have already invested.

The Euro position, particularly in Greece, looked difficult but has again been solved, for the moment, by a bailout by the larger European economies. Continue reading