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Rents surge in Sydney and Melbourne - up 4.5% for the year (CoreLogic); And house prices also jump strongly in July - Melbourne prices up 16% for the year
Topic Started: 1 Aug 2017, 01:36 PM (4,372 Views)
Rat
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Filthy Rodent

Great times for homeowners and property investors...

https://www.corelogic.com.au/news/quarterly-housing-economic-review-july-2017-release

"Over the past nine to 12 months, rental growth has started to pick-up noticeably. It is difficult to know exactly what has driven this however, rapid population growth and the sheer lack of affordability of owning a home are most likely drivers. Furthermore, the rising popularity of AirBNB is potentially resulting in some level of stock removal from the long-term rental market"

CoreLogic Rents
National +2.0%
Canberra: +8.4%
Hobart: +6.2%
Sydney: +4.5%
Melbourne: +4.1%
Adelaide: +1.1%
Brisbane: -0.2%
Darwin: -5.4%
Perth: -8.3%

SQM has rents up slightly higher at 2.6% nationally for the year... http://www.sqmresearch.com.au

I wonder what happened to Crazy Ted and his 'historical event'... http://australianpropertyforum.com/topic/10127655/17/#post10041725

MMM July 2014
 
An historical event about to take place in Australia
Rental prices have peaked in ALL capitals and will now decline for years
we have now reached this peak from which rental prices will not only no longer grow, but they will start falling
What we are about to witness in all capitals, will be historic rental price declines. This will continue for years
we are now at a historical point in Australian history, from which rental prices can no longer grow

LOL. :lol

Meanwhile, house prices also jumped higher in July... http://www.smh.com.au/business/the-economy/home-prices-jump-anew-in-july-testing-regulators-20170801-gxmr3s.html

"Home prices in Australia's major cities rose strongly in July, led by a surge in Melbourne, putting a question mark over regulators' attempts to cool the market through tighter rules on leveraged property investors.

Annual growth in prices accelerated to 10.5 per cent, from 9.6 per cent, and back toward the peak of 12.9 per cent reached early in the year.

Melbourne led the pack with an outsized increase of 3.1 per cent in July alone, which lifted annual price growth in the city to a blistering 15.9 per cent.

Sydney prices rose 1.4 per cent in the month, and 12.4 per cent for the year."
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Trollie
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This is why you have to have rocks in your head to be a renter if you have other options.
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Rat
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Filthy Rodent

Trollie
1 Aug 2017, 07:47 PM
This is why you have to have rocks in your head to be a renter if you have other options.
Sydney and Melbourne rents have basically never fallen in the past five decades, according to the official ABS data...

Posted Image

Which makes Ted's prediction even more amusing. He's already down a million bucks on the house he sold in 2011. It would be worth $2 million by now. Plus his gold losses (gold is still down in the $1500s which in real terms is an absolutely massive fall from its 2011- 2012 highs). Plus all the rent he has to fork out to his Lord each month (assuming he's not still slumming in his brother's shed). Poor old Ted, no wonder we never hear from him these days.

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Edited by Rat, 1 Aug 2017, 08:11 PM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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herbie
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Oh well, chat ta ya local state pollies 'n town planners 'n wotnot if any of youse pricks down in Sydvegas/Melvegas don't like it - Not my problem; Not my worry; Not my concern; Not my issues - Ta very much please ...

As in "Sort ya own shit out f***sticks" - Hey Sorries? But I's obviously got me own problems yunnos wot wif me 'only' livin' up in bumf***Vegas 'n wotnot as ya's all happily confirmed often enough ... :)
Edited by herbie, 1 Aug 2017, 08:45 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Rufus
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Rat
1 Aug 2017, 08:09 PM
Sydney and Melbourne rents have basically never fallen in the past five decades, according to the official ABS data...
Listings have fallen across Australia, even in Perth.
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Take risks - if you win you will become wealthy, if you lose you will become wise
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Trollie
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Rufus
1 Aug 2017, 09:19 PM
Listings have fallen across Australia, even in Perth.
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Don't tell jimbo that, he'll have to set you straight with his spreadsheet
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Rat
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Filthy Rodent

Also the NSW unemployment rate at 4.8% is close to the lowest it has ever been, at least as far back as ABS records go.

http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6202.0Jun%202017?OpenDocument

According to the ABS data, the average NSW unemployment rate since 1978 is 6.7%, and while it briefly touched 4.5% on one occasion, the current 4.8% is extremely low.

So house prices up, rents up, jobs up, and wages up. Recent times have been rough for the poor old Sydney bears and renters.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Bardon
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Rat
2 Aug 2017, 10:59 AM
Also the NSW unemployment rate at 4.8% is close to the lowest it has ever been, at least as far back as ABS records go.

Yes its full employment, this truly is the start of the golden age.
Edited by Bardon, 2 Aug 2017, 11:44 AM.
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Rat
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Filthy Rodent

Rat
2 Aug 2017, 10:59 AM
NSW unemployment rate at 4.8% is close to the lowest it has ever been

So house prices up, rents up, jobs up, and wages up.
It certainly is a great time to be an Australian property owner.

Amazon to create thousands of new jobs in Australia

"This is just the start. Over time, we will bring thousands of new jobs to Australia and millions of dollars of investment as well as opening up the opportunity for thousands of Australian businesses to sell at home and abroad through Amazon Marketplace."

Happy days.
Edited by Rat, 3 Aug 2017, 02:24 PM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Matthew
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Trollie
1 Aug 2017, 09:24 PM
Don't tell jimbo that, he'll have to set you straight with his spreadsheet
Dim wont read this thread, it doesn't have Perth in the title.
My only hope for my three boys is that they turn out nothing at all like Chris.
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