The looming housing crunch is happening with the value of new home loans fell $2.2 billion in May, the largest fall in the history of the series. Owner-occupier home loans have dropped 10.2% ($750 million) over the month, while investor only loan commitments fell by 15.6% ($1.4 billion) nationally, according to the Australian Bureau of Statistics.
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Property giant GPT Group has joined Vicinity Centres in writing down the value of its shopping centres. GPT joined Vicinity with more than half a billion dollars in preliminary cuts with the final figure to be released in August after a further revaluation on June 30.
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Australian house prices dipped in May and look like continuing to edge lower in the next few months, despite the easing of restrictions on auctions and open house inspections.
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As has been expected job advertisements collapsed in April as lockdowns closed business across the economy and job support schemes emerged with delays to the actual handing out of money, but building approvals in March held up better than forecast, according to data released yesterday.
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Chris Andrews, Senior Vice President and Chief Investment Officer of La Trobe Financial looks at the outlook for the residential property market for the rest of the year.
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Fool’s paradise? Sydney and Melbourne house prices again rose strongly in March but there were more signs of a slowdown following tough restrictions on how real estate agents can sell properties during the coronavirus pandemic.
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The coronavirus pandemic & associated shutdowns to economic activity now poses a significant threat to the outlook for property prices. The question is how big the threat is?
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With inflation low, and as long as recession is not imminent, it makes sense that traditional valuations like PEs are higher than their long-term average. Similarly, it makes sense that property yields are lower than normal, but the fall in Australian housing yields has been extreme relative to commercial property & shares.
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Strong cash flow, positive leasing spreads and lower debt costs are delivering superior returns for Dexus Property, which is currently enjoying a robust outlook for office and industrial assets.
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Securities in property group, Mirvac fell more than 3% yesterday after investors gave the interim result a thumbs down.
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The recent upsurge in home lending in the closing months of last year has helped US-controlled mortgage insurer, Genworth to a sharp rise in December half-year premiums and earnings.
Read MoreAt its meeting in Sydney today, The Reserve Bank will have noted the sharp rise in house prices in January as it hopes for the increases to flow through to help consumers feel more upbeat and confidence through the so-called wealth effect.
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FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data.
Read MoreReal Estate Investment Trusts (REITs) have performed well during 2019. With some looking quite expensive here, Dexus (ASX:DXS) is a stock which not only looks to be reasonable value here, but has a trading profile that indicates further upside.
Read MoreHome ownership has long been considered critical to building wealth in Australia. So, does it matter if young people are taking longer to get into the mortgage belt?
Read MoreIn May 2017, the federal government announced their intention to help younger Australians saved for their first home by giving them the ability to build part, or all, of their deposit inside of superannuation. This initiative was appropriately named the First Home Super Saver Scheme.
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The combination of rate cuts, the election and a modest regulatory relaxation have helped turn property prices back up, but the upswing is likely to be constrained.
Read MoreA 5% increase in home loan lending in August, compared to July surprised a little on the upside yesterday as the two rate cuts from the Reserve Bank seem to have dragged new home buyers, investors and people looking to trade up back to the housing market.
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Diversified developer Stockland has been hit with a dose of reality from the weak retail sector, sagging housing market and soft apartment values.
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The decision by shopping centre operator, Vicinity to flog off more of its malls isn’t surprising given the sale late last year of 11 malls had no real impact on its weak returns which plunged more than 70% in the year to June and saw it cut its final distribution.
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Shared office space used to be just that: cheap digs for start-up enterprises. Now it’s a burgeoning property sub-sector.
Read MoreMirvac’s securities enjoyed a very good day out yesterday in the wake of the property and retailing groups solid 2018-19 result.
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While many listed companies have rolled out charts showing a mountain of work available, the infrastructure boom may not be the gift to Australian contractors the market is assuming.
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Small Queensland residential developer Villa World has agreed to be taken over by private equity-backed Avid Property.
Read MoreThe Reserve Bank monetary policy meeting in Darwin today will have a tiny bit of good news to consider (and ignore) – the slide in house prices again slowed last month with small rises being recorded in Sydney and Melbourne for the first time 21 months.
Read MoreProperty group GPT is raising up to $850 million in a placement and share purchase plan for retail holders to help it lift its stake in the Darling Park and Cockle Bay Wharf complex in Sydney’s western CBD.
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Mirvac is raising $750 million through an institutional issue placement at $2.97 a share. The company will offer shareholders the right to take up a total of $75 million in new securities in addition to the larger raising.
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The election outcome removed a key threat, but several other factors also suggest that property prices could be nearing a bottom. In this note, Shane Oliver looks at the key issues.
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The Specialist Residential Property Impact Fund provides institutional, wholesale and retail investors the opportunity to participate in an emerging market of disability housing, and to help deliver vitally important social outcomes for people with disabilities and their families and carers.
Read MoreSome brokers have started to upgrade their recommendations to “BUY” on the banks and believe that they represent value in and around these levels. I still strongly disagree.
Read MoreFor the second month in a row house and apartment prices fell sharply in April, but there were more tentative signs the slide is starting to slow down.
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Charter Hall Retail will acquire Rockdale Plaza, providing an opportunity for both non-rental income and improved mix of stores.
Read MoreWe had another reminder yesterday why the monthly building approvals data from the Australian Bureau of Statistics are an unreliable indicator (and should not be taken all that seriously at times) of the strength or weakness in tracking what is going on at the front end of the home and apartment building chains.
Read MoreSo did we see signs the current slide in house prices might be losing momentum in March? There was a tiny suggestion that February saw hints of a slowing in the rate of fall, but it would see the signs were a little more solid last month.
Read MoreHow much more downside is there left for property values? Where to now? Will the RBA only cut rates twice to 1.00% and all will be good again? Or will this just be the start of a deepening crisis?
Read MoreFNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data.
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FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data.
Read MoreNow here’s a bit of nasty news for the Reserve Bank and others – the value of construction work done across Australia in the final three months of 2018 fell by a sharp 3.1% to $51.603 billion (seasonally adjusted) instead of rising by 0.4% as forecast by the market.
Read MoreFNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data.
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