Luke GrahamLeave a comment
A month ago, it was announced that Melbourne would transition out of its winter-cum-spring lockdown. Victoria had led the country’s second wave of coronavirus cases and deaths, leading to strong measures being implemented and fierce debate surrounding their merits.
Luke GrahamLeave a comment
Recent media reporting indicates ANZ and CBA have both revised their more severe outlooks of the Australian property market, joining NAB in expressing a greater level of confidence for the end of 2020 and into 2021. Although NAB forecast Brisbane to lead the post-COVID upswing, ANZ are placing their bets on Perth leading the 2021 charge with a 12 percent jump over the year. CBA aren’t as optimistic as the others but have recently reported on the continued recovery of the housing market.
Luke GrahamLeave a comment
As you’ve probably heard, the RBA once again cut the cash rate target last week. It is now at an all new low of 0.1 percent. To put this into perspective, the RBA set the cash rate target two days before I was born (25 January 1990) at a whopping 17 percent. The early 90s saw it fall to single digits, where it bounced around until the aftermath of the GFC. Since 2011, it has steadily decreased from 4.75 percent to its current level.
Luke GrahamLeave a comment
We are in the final two months of the year and still the coronavirus is injecting uncertainty into the global economy. With 50 percent odds U.S. authorities will approve a vaccine in Q1 2021 and 44 percent odds it’ll be later (according to Hypermind.com), it looks like we still have a little while yet until more clarity enters the market.
Roy AzziLeave a comment
Is it time to re-enter the Sydney property market? This is a question I am asked on a weekly basis by our stakeholders. Following the mixed opinions surfaced at our quarterly market review a couple of weeks ago, I felt now was the perfect time to share my perspective.
Luke GrahamLeave a comment
In August this year, the biennial classification of world cities was released by the Globalization and World Cities Research Network (GaWC). This classification system rates cities from Sufficient to Alpha ++ on their importance in the world city network. Five Australian cities regularly feature on the list, with Sydney typically ranking among the likes of Hong Kong, Los Angeles, Tokyo and Paris. Although Sydney, Melbourne and Perth found themselves in lower categories than where they were in 2018, Brisbane managed to level up for the first time since 2012. This now places Brisbane among the likes of Vancouver, Washington DC, Berlin and Tel Aviv.
Luke GrahamLeave a comment
Since the onset of the coronavirus pandemic, much commentary has surrounded rental vacancies in our inner cities. Consider our four largest capitals. SQM Research data indicates that Sydney’s vacancy rate reached a high of 16.2 percent in May, Brisbane reached 14 percent in June and Melbourne 10.8 percent in September. Perth, on the other hand, actually experienced higher vacancy rates last year.
Dr Tony HayekLeave a comment
It’s great to see the back of Australia’s second wave of COVID-19. As we are all aware, Victoria led the country in coronavirus cases and we share the heartbreak of those affected both directly and indirectly by the pandemic. From a more positive perspective, however, our competitive southern state isn’t a stranger to outdoing the rest of us in more ways than just the pandemic.
Luke GrahamLeave a comment
Since mid-2019, we have been discussing the expected impact of a number of major changes to the property market and broader economy. As we know, the coronavirus pandemic interrupted things quite a lot, but that has only caused more fuel to be added to the fire.
Luke GrahamLeave a comment
Last week, Westpac economists released an updated forecast for property prices in the coming few years. Some welcome news for many of us is that their COVID-induced downturn forecasts have been revised and reduced. Instead of the initial forecast that prices would fall 10 percent before recovering, they now believe national prices will bottom out at a 5 percent peak-to-trough discount, much of which has occurred already. Better news yet, however, is the strong upswing expected over the two following years.
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