"Secretly Broke in Australia" http://globaleconomicanalysis.blogspot.com/2011/08/secretly-broke-in-australia.html Great follow up post from Mish
Westpac Q3 cash profit up 10.7 pct, just below forecasts http://www.reuters.com/article/2011/08/15/westpac-results-idUSWBC20110815 Aug 16 (Reuters) - Westpac Banking Corp , Australia's third-largest lender, on Tuesday reported a 10.7 percent rise in quarterly cash profit, just shy of estimates, as bad debt charges climbed up and customers were turning increasingly cautious. **** WBC shares down 5%, while CBA NAB and ANZ are all down less than 2%
I read on a property derivatives site some time ago that there is an Australian house index, any of you guys familiar with it? Can you trade it on exchange or OTC?
"Reality bites for Nine as TV homes fail to sell " http://www.smh.com.au/entertainment...-as-tv-homes-fail-to-sell-20110821-1j4qw.html Only 1 out of the 4 houses in this reality TV series were sold at auction. Not a reliable data point for the entire Aussie housing market, but interesting nonetheless.
Invisible hand fixed the glitch: http://www.news.com.au/entertainmen...d-the-block-sale/story-e6frfmyi-1226120964603 Trying to make people comfortable with the only true sector/job left in AU capital cities : renovator, property speculator, RE agent and supporting personel
It's a new month, which means that the latest RP Data Rismark Home Value Index Release is available. http://www.rpdata.com/press_releases/Page-1.html (new link) http://www.rpdata.com/research/sydney_and_canberra_homes_buck_weak_market_conditions.html (July data. Article dated 31 August 2011) PDF file: http://www.rpdata.com/images/storie...pdata_rismark_home_value_index_aug31_2011.pdf First part of article: While dwelling values in Australia's combined capital cities declined by a seasonally adjusted (s.a.) 0.6% in the month of July, and regional markets fell by a similar 0.7% (s.a.), homes in Sydney (+0.1% s.a.), Darwin (+0.6% s.a.) and Canberra (+1.9% s.a.) managed to produce small capital gains. Based on approximately 178,000 home sales over the year to July, the market-leading RP Data-Rismark Hedonic Home Value Index recorded a seasonally-adjusted fall of -0.6 per cent in capital city home values over the month of July (-0.9 per cent in raw terms). *** http://www.rpdata.com/research/monthly_indices.html The above link provides yoy capital city median house price data. The range is from -6.6% (Brisbane) to +1.9% (Canberra). Apart from Canberra, the only other capital city to show a price increase is Sydney (0.5%). This is an interesting contrast to Brisbane (3rd biggest city) and Melbourne (2nd biggest city, -4.3%).
checked up-market part of property in Sydney today. Pretty decent discounts in even sub 1m. Low price levels hoding well although volume at auctions almost nonexistent in not that long ago hot innerwest. hope that more credit will be released and enough people willing to take it so demand outstrips supply yet again Last recession, upmarket fell first, then folowed carniage, then upmarlet recovered first and then recovery of the low end. See no reason this time will be different.
It's a new month, which means that the latest RP Data Rismark Home Value Index Release is available. This month RP Data started including data about rental returns, which I am excluding in this post. http://www.rpdata.com/press_releases/Page-1.html http://www.rpdata.com/research/robust_rental_growth_keeps_total_returns_positive_in_august.html (August data. Article dated 30 September August 2011) PDF file: http://www.rpdata.com/images/stories/content/pressreleases/rpdatarismarkhomevalueindexsep30.pdf Snippets: While national dwelling values fell by -0.4% (s.a.) (or -0.1% raw) in August, this was the smallest seasonally-adjusted decline since April 2011. Bucking the national trend, home values in Australiaâs biggest city, Sydney, rose +0.4% in raw terms (0.0% s.a.) in August. In the month of August, RP Data-Rismarkâs Combined Capital Cities Index reported a seasonally-adjusted capital loss of -0.4 per cent (-0.1 per cent in raw terms). This was the smallest decline since April 2011. Mr Kusher also highlighted the wide divergences in housing outcomes across Australia. In the 12 months to August 2011, Perth capital values fell by -7.1 per cent (s.a.). Yet in Sydney home values are up 0.3 per cent (s.a.). Analysis shows that the premium sector of the market remains the most volatile. The most expensive 20 per cent of suburbs have recorded capital value (ie, exclusive of rents) falls of -5.5 per cent over the last year compared with a -3.1 per cent capital loss across the broad âmiddleâ market and a -2.9 per cent capital loss amongst the 20 per cent of most affordable suburbs. *** http://www.rpdata.com/research/monthly_indices.html The above link provides yoy capital city median house price data. The range is from -7.1% (Perth) to +0.3% (Sydney). The only capital city with a positive yoy change is Sydney, +0.3%. This is an interesting contrast to Brisbane (3rd biggest city, -6.1%) and Melbourne (2nd biggest city, -4.3%).
why would anyoune stop cashflow if profits are important ?!? http://www.theage.com.au/business/nab-drops-court-case-on-evicting-tenants-20111026-1mk4r.html Hope these guya are not using your super money to buy houses and lock them away so supply doesnt go overboard.