Based on CoreLogic’s House Price Index (HPI), it’s been 69 months since the US housing market peaked. Since the national index for ‘single family combined homes’ reached its high point back in April 2006, US home prices have fallen by 32.8%. The first three years of US home prices coming down could be characterized as [...]
Finance approvals increase along with values in November…better times ahead?
The volume of housing finance commitments to owner occupiers increased for the eighth consecutive month in November, up 1.4% over the month and 4.6% over the year. Of course, from a housing market perspective it is important to separate owner occupier commitments for refinances and non-refinances. Refinances create business for banks and mortgage brokers whereas [...]
Will the resources sector continue to ‘boom’?
Well, the experts certainly think so. If you have any interest in the resources sector, arguably the best source for information is the Bureau of Resources and Energy Economics (BREE). Their most recent forecast for the 2011/12 financial year is a 15% increase in the value of Australian energy minerals and metals over the previous [...]
How much more finance for housing is there likely to be over the next 12 months?
The Australian Bureau of Statistics (ABS) released its monthly housing finance numbers for October this week which provided some interesting reading. Broadly speaking, the results are split by investment finance commitments and owner occupier commitments. For the owner occupier commitments the ABS publishes data which shows both the volume and value whereas for investment they [...]
Property values down, retail struggling, Europe in debt, but our economy continues to grow
It seems there has been a raft of bad news of late with property values falling, limited growth in housing finance, lower levels of consumer confidence, limited retail activity, low levels of housing construction and Europe in the midst of a debt crisis. However, despite all the bad news stories, the Australian Economy has continued [...]
154 capital city suburbs with a median house value under $300,000
There are plenty of affordable housing options across Australia’s capital cities; in fact there are 154 suburbs where the median value of a house is less than $300,000. Adelaide suburbs comprise the majority of these ‘uber’ affordable locations, comprising 28% of the list. Brisbane suburbs rank a close second at 24% of all capital city [...]
Housing demand set to increase on the back of higher population growth
22,771,649. That’s the estimated total of Australia’s population. According to the Australian Bureau of Statistics there is one birth every 1 minute and 46 seconds and an Australian dies every 3 minutes and 40 seconds. Every 2 minutes and 44 seconds there is another international migrant crossing the Australian border. Overall the Australian population increases [...]
When is an auction not an auction?
With auction clearance rates consistently tracking between 45% and 50% since April this year it begs the question, why take a property to auction when you have less than a 50% chance of selling via this process? Melbourne, Australia’s largest auction market, has typically shown a slightly higher clearance rate than other cities, however even [...]
More home loans for less
The Australian Bureau of Statistics (ABS) released housing finance data for the month of September this week and in this week’s blog post we are going to dissect what is happening with average loan amount being committed to by borrowers. On an annual basis, the average loan size fell by -0.6% over the 12 months [...]
Low dwelling approvals are bad news for housing supply
After a brief surge in August, the number of dwellings approved for construction in September fell by 13.6% (August approvals were up by a revised 10.7%) – a result that was primarily influenced by a large fall across the ‘non-house’ category which is comprised of mostly apartments and semi-attached dwellings such as terrace homes and [...]
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