Source:  API - Liz Jordan   HOUSING market sentiment across the country has hit a near six-year high, as Western Australians grew in confidence at a faster rate than anywhere else, and NAB upgraded its forecasts for prices. The latest NAB Residential Property Survey, housing market sentiment was positive among property professionals in all states for the first time since the first quarter of 2018. It was again highest in Victoria (up 7 to 47) and improved most in New South W...

Source:  Livewire Markets - Patrick Poke We asked three experts whether the Australian housing market had found a bottom in recent months. While the contributors opinions differed on the overall direction and level of risk, one thing they all appeared to agree on was that no outcome is certain. Uncertainty is a fact of investing, which is probably why the saying (often incorrectly attributed to Yogi Berra), "predictions are difficult, especially about the future", is so pop...

Source: CoreLogic - Cameron Kusher The national housing market has just experienced its largest downturn in dwelling values since at least the 1980s. The fact that values nationally fell by less than 10% speaks to the ongoing strength of the housing market over the past 40 years which has culminated in Australia being one of the most expensive places in the world in which to buy property. Since the federal election in May, there have been ongoing signs of improving market conditions. Th...

Source: CoreLogic The CoreLogic Home Value Index results for October out today confirm a 1.2% rise in national dwelling values over the month, delivering the fourth straight month of rising values. The October result was the largest month-on-month gain in the national index since May 2015. The recent gains come after a broad-based decline in housing values, with the national index declining 8.4% between October 2017 and June 2019. The positive October result takes national dwelling values...

Source:  Livewire Markets - Patrick Poke Negative bond yields, Trump's Trade War, and protests in Hong Kong have stolen all the headlines in recent months, but (relatively) quietly, a bottom has been forming in the Australian residential property market or has it? Several positive surprises have acted to support prices, such as the return of the Liberal-coalition, and the removal of APRA's 7% serviceability buffer for assessing mortgages, but risks to the downside have not di...

Source: Corelogic Over the 2018-19 financial year the number of settled property sales fell substantially, down -17.2% from the previous year. Because of the significant difference in sales year-to-year when we are analysing the market performance, especially in terms of sales across price points, looking at the shifts in market share provides a much more accurate picture. Over the 12 months to June 2019, 12.5% of all houses and 8.0% of units sold nationally transacted for at least $1 m...

Source:  Australian Property Journal Consolidated Properties Group and CVS Lane Capital Partners have unveiled the $850 million masterplan for the Yeerongpilly Green urban renewal project in south west Brisbane. The developers are looking to transform the 14-hectare riverside site into an urban village and cultural, music and arts hub, with 1,200 residences, 28,000 sqm of commercial space, an 8,750 sqm retail and dining precinct, and 1.8 hectares of parkland. The first residentia...

Source: Experts Direct - Llewellyn Horgan What strengthens an expert opinion? In Eckford v Six Mile Creek Pty Ltd (No 2) [2019] FCA 1307, the court emphasised three aspects of expert reporting that help to demonstrate the reliability and strength of expert opinions. Background: The Applicant in this matter purchased a seafront property. He alleged that the Respondents (the previous owners of the property) represented that he would enjoy unobstructed scenic views of both the nearby ...

Source:  Corelogic   CoreLogic head of research Tim Lawless said, "Our national dwelling value index may have found a floor in July, with dwelling values holding firm over the month following a consistent trend towards smaller month-on-month declines through the first half of the year. Since peaking, the national index is down 8.3%." "The stabilisation in housing values is becoming more broadly based, with five of the eight capital cities recording a su...

Source: Brisbane Times   Official data showing further falls in new housing approvals and ongoing weakness in the apartments market have reaffirmed warnings of more pain to come in the building industry, including the potential loss of 100,000 jobs. In seasonally adjusted terms, a 6.5% drop in the weakened attached housing segment, which includes apartments and townhouses, dragged the national total to a 1.2% fall, according to the Australian Bureau of Statistics. Detached...