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PCA recommends a $50,000 ‘New Home Boost’ scheme

As the Property Council of Australia looks ahead for longer term stimulus in the building industry, the Housing Industry Association says incentives now are needed for the second half of 2020, to save half a million jobs.

Western Australia (WA)

The Economy

Six year low reached for residential listings in WA

There are a few signs the Perth residential property market has been impacted by COVID-19 with the market seeing higher demand than supply and available stock dropping through the period, according to REIWA president Damian Collins.

Tasmania (Tas.)

The Economy

Two speed property market developing in Tasmania

As sales of properties ease due to COVID-19, the sale of vacant land has been a standout, according to REIT president Mandy Welling.

National

The Economy

Expats, Locals and Couples looking for more space dominate Market

Melbourne, Sydney and Brisbane agents say more qualified local and expat buyers are coming into the market, making the most of low AUD and very low interest rates.

Western Australia (WA)Perth

The Economy

Perth’s residential market well placed for faster recovery

Perth experiences its sixth consecutive month of price growth in April, according to Momentum Wealth.

National

People

John McGrath – Locals regain confidence as foreign buyers retreat

Many properties are selling within two weeks, indicating strong demand is still there, said John McGrath, founder of McGrath Estate Agents.

New South Wales (NSW)

Featured Property

Gracious New England style estate Southern Highlands for sale - The Agency

Kywarra Nathan Street Berrima for sale by Ben Olofsen and Stephanie Blatch of The Agency is an exquisite family estate in the highly sought after Southern Highlands village.

New South Wales (NSW)Sydney

People

Hong Kong and Taipei buyers via Facetime inspection Ray White

Ray White Upper North Shore agent Lisa Davies has sold this beautiful five bedroom home at 9 Northcote Road Lindfield for over $6million to an overseas buyer in Hong Kong and a second home at Killara sold to a Taipei buyer for $6.3million after inspections via Facetime

New South Wales (NSW)Sydney

Featured Property

Landmark Wahroonga property 'Redleaf' changes hands

Sold by Darren Curtis and Ken Jacobs of Ken Jacobs Christie’s International, who told WILLIAMS MEDIA, “It is common knowledge that this is arguably the most important landholding in the suburb, held by the same family for many, many years.”

Victoria (Vic.)Melbourne

Featured Property

French-inspired family residence purchased after virtual walkthrough

The Golden Mile home saw 25 inspections during the campaign before being sold by Walter Dodich, Robert Li and Anthony Comand of Kay & Burton.

Pages

News Roundup

https://www.domain.com.au/news/living-alone-the-fastest-growing-trend-thats-outstripping-supply-20170306-gurdfn/

Living alone: The fastest growing trend

The trend towards one-person households means demand for one-bedroom or studio apartments is outstripping supply.

Domain

http://www.afr.com/real-estate/apra-warns-banks-on-residential-development-20170307-gusahw

APRA warns banks on residential development

Residential developers face a further squeeze on credit as the bank regulator urges lenders to exercise more caution in their commercial property books.

The Australian Financial Review

http://www.theaustralian.com.au/business/property/millions-off-luxury-homes-in-new-york-miami/news-story/6b5b9c9bf30d7aac719923b3f2b6c313

Millions off luxury homes in New York, Miami

High-end home sellers across the country are offering discounts as the luxury market softens.

The Australian

http://www.afr.com/real-estate/inghams-to-sell-land-for-residential-development-20170307-gusg5c

Inghams to sell land for residential development

Inghams is offering a 4.115-hectare site in the residential growth centre of Leppington in south-west Sydney for sale.

The Australian Financial Review

http://www.afr.com/real-estate/victorias-stamp-duty-cut-a-transfer-of-wealth-to-vendors-20170305-gurdug

Victoria's stamp duty cut a 'transfer of wealth' to vendors

Victoria's decision to cut stamp duty for first home buyers, in isolation, will only stimulate demand and push prices higher, experts say.

The Australian Financial Review

http://www.afr.com/brand/chanticleer/no-housing-bust-in-australia-says-bis-oxford-economics-20170306-gurky1

No housing bust in Australia says BIS Oxford Economics

The new British owners of economic forecasting firm BIS Shrapnel say the OECD got it wrong on the Australian housing market.

The Australian Financial Review

https://www.domain.com.au/news/why-the-rba-is-likely-to-leave-rates-on-hold-as-asic-examines-lending-standards-20170306-gurc10/

RBA likely to leave interest rates on hold amid record household debt, as ASIC examines lending standards

Philip Lowe has some high-powered backing if he leaves interest rates on hold Tuesday as widely expected.

Domain

https://www.domain.com.au/news/liberal-mp-john-alexander-calls-for-courage-on-australias-soaring-house-prices-20170306-gurpt3/

Liberal MP John Alexander calls for courage on Australia’s soaring house prices

The federal government needs to pluck up the courage and do something meaningful to curb Australia’s soaring house prices, one of its backbenchers says.

Domain