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 [...]
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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 [...]
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 [...]
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 [...]
Housing costs show the largest quarterly rise in the September CPI
Its worthwhile having a closer peek at the ‘new look’ CPI figures just released by the ABS- particularly, how have the components of the housing category contributed to price rises. The September quarter data was the first time the 16th series of CPI has been publicly released (the 15th series was phased out in June). [...]
Mortgage delinquencies on Residential Mortgage Backed Securities (RMBS) rise over the past year according to Moodys
Ratings Agency Moody’s released their annual Mortgage Delinquency Report this week which showed delinquencies have increased over the year as consumer confidence dipped, property values fell and global economic conditions weakened. According to the report, the analysis in this report was performed on over $117.6 billion worth of mortgages which are included in Moody’s-rated residential [...]
The geography of jobs
Having a job is pretty high on the list of household priorities. Also high on the list is having a degree of confidence that you are going to keep your job into the future and that you are going to be paid a fair amount. With Australia’s unemployment rate at just 5.1% it’s reasonable to [...]
Household income growth stalls over the 2009/10 financial year
The Australian Bureau of Statistics (ABS) released their bi-annual Household Income and Income Distribution data for the 2009/10 financial year this week. This is an exciting release from the ABS (aren’t they all!) because the data only comes out once every two years and provides a valuable update about household income, where income is derived [...]
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 [...]
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New mortgage commitments setting the scene for improved buying activity
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100 suburbs with the highest gross value of home sales
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The gap between variable and fixed interest rates has just passed a historic peak. Is it time to fix?
- 100 suburbs with the highest gross value of home sales | ljgrealestate: [...] Link: http://blog.rpdata.com/2012/02/100-sub...
- Is it time to fix rates? | Calibre Real Estate: [...] Source: Tim Lawless, RP DATA blog [...]...
- The gap between variable and fixed interest rates has just passed a historic peak. « bakerbruce: [...] HERE to view the full report from RP Data Sh...
