RP Data, together with Nine Rewards, released an update to their housing market sentiment survey this week. The headline findings showed that housing market sentiment was substantially higher than what it was six months ago, but virtually unchanged from earlier in the year. The survey was conducted across 1,030 respondents who were located across the [...]
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Consumers more optimistic about Australia’s housing markets in 2013
Consumers more optimistic about Australia’s housing markets in 2013 Last week Nine Rewards and RP Data undertook our second housing market sentiment survey. The first survey was in October last year and we intend to run the survey every three months. The results were stronger than I expected, in the sense that only a very [...]
Confidence in Australia’s housing markets is gathering pace
The confidence level amongst Australian consumers (as measured by the Westpac-Melbourne Institute Consumer Sentiment Index) has been on an upwards trend since April this year, and over November the Index recorded a sharp rise to reach the highest level since April 2011. An easy way to interpret the index is when the reading is over [...]
Welcome back below average mortgage rates
With the low CPI reading earlier this week, a drop in the cash rate next Tuesday is pretty much a done deal. The question is now will the RBA cut the cash rate by 25 or 50 basis points? According to financial market expectations (based on the ASX cash rate futures yield curve), the cash rate [...]
The pre-stamp duty surge
We’ve just updated our month to month models for transaction volumes and the results for Queensland are certainly interesting. Most Queenslanders would be aware of the stamp duty changes that were brought in with the latest Budget announcement earlier in the year: from the first of August owner occupiers would no longer benefit from stamp [...]
What does the recent improvement in consumer confidence mean for the Australian housing market?
The relationship between consumer confidence and housing market activity is a topic that we often comment on in relation to the housing market. The importance of a positive consumer mindset is simple; for a prospective buyer to make a high commitment purchase decision like buying a home they need to have a base line level [...]
The rate hike we didn’t have
The interest rate ‘hold’ decision earlier this week marks nine straight months of flat rates; the most stable interest rate environment for five years. Anyone would be forgiven to raise an eyebrow at that; the spectre of an interest rate rise has been lurking since at least March when the core inflation reading bottomed out [...]
Will higher interest rates affect the housing market?
With another interest rate rise seemingly around the corner thanks to the high CPI reading for June, it is worthwhile looking back to see how interest rate rises over the recent past have affected the housing market. The Reserve Bank started lifting interest rates back in October 2009; prior to that, the average standard variable [...]
For the economic prosperity and welfare of the people of Australia
On July 27th at 11:30am a very large number of Australians will be flocking to the Australian Bureau of Statistics web site to check out the June quarter inflation numbers. Maybe I’m just growing old and boring, but I can’t recall a time when the quarterly CPI figure had been so eagerly anticipated. The reason [...]
Fixed vs Variable… the vast majority prefer to move with the market.
Over the past few months there has been a great deal of speculation about interest rates and whether we are likely to see another rate rise from the Reserve Bank any time soon. Prior to the most recent RBA meeting, most economists were tipping an August rate rise. The first Tuesday of August is when [...]
- Dispelling the myths about our new Index methodology
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Negative gearing and its impact on the housing market
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There were 1,213,595 individuals with a negatively geared property over the 2010/11 financial year
