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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 (4,374 Views)
herbie
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Rat
7 Aug 2017, 11:33 PM
No, this is a religious forum.
Must admit I does like me filthy rodents ta have a sense of humour ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Veritas
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Rat
1 Aug 2017, 01:36 PM
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



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."
Rents have done fck all in years mate.

The fact that rental growth is at 20 year lows in the face of massive demand tell us all we need to know.

House prices in Sydney and Melbourne are severely overvalued.

Yields are laughable.

There is plenty of housing and prices are being driven up by speculators.


Rat
1 Aug 2017, 01:36 PM
Great times for homeowners and property investors...<br /><br />https://www.corelogic.com.au/news/quarterly-housing-economic-review-july-2017-release<br /><br />"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"<br /><br />CoreLogic Rents<br />National +2.0%<br />Canberra: +8.4%<br />Hobart: +6.2%<br />Sydney: +4.5%<br />Melbourne: +4.1%<br />Adelaide: +1.1%<br />Brisbane: -0.2%<br />Darwin: -5.4%<br />Perth: -8.3%<br /><br />SQM has rents up slightly higher at 2.6% nationally for the year... http://www.sqmresearch.com.au<br /><br />I wonder what happened to Crazy Ted and his 'historical event'... http://australianpropertyforum.com/topic/10127655/17/#post10041725<br /><br /><br /><br />LOL. :lol <br /><br />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<br /><br />"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.<br /><br />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.<br /><br />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.<br /><br />Sydney prices rose 1.4 per cent in the month, and 12.4 per cent for the year."
Rents have done fck all in years Shadow.

The fact that rental growth is at 20 year lows in the face of massive demand tell us all we need to know.

House prices in Sydney and Melbourne are severely overvalued.

Yields are laughable.

There is plenty of housing and prices are being driven up by speculators.

Edited by Veritas, 9 Aug 2017, 01:32 AM.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Rat
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Filthy Rodent

Veritas
9 Aug 2017, 01:32 AM
Rat
 
Rents surge in Sydney and Melbourne - up 4.5% for the year (CoreLogic)
Rents have done fck all in years

rental growth is at 20 year lows
This is the official data from the ABS CPI Rents Index... http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6401.0Jun%202017

Posted Image
Edited by Rat, 9 Aug 2017, 08:47 AM.
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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b_b
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Rat
9 Aug 2017, 08:46 AM
This is the official data from the ABS CPI Rents Index... http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6401.0Jun%202017

Posted Image
Interesting chart.

It seem like Sydney rents have grown at the rate of 5.9% (CAGR).

At the same time the CPI has increased 5.4% (CAGR).

The data supports the (correct) notion real estate preserves wealth in real terms over the cycle.
Edited by b_b, 9 Aug 2017, 03:10 PM.
(S – I) + (T - G) + (M - X) = 0
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channaylor
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The government has recently released a draft legislation, detailing the proposed plant and equipment depreciation changes as announced last May. The draft provided information about an investor's eligibility to claim depreciation.

The government has allowed the public to air out their opinions about these proposed new measures. The public consultation will in fact be open until 10 August 2017. The measures are yet to be legislated so let's take a look at how these changes could affect investors.

The Bill intends to amend the Income Tax Assessment Act 1997 to limit deductions for plant and equipment in residential premises. It will reduce the amount an investor can claim for a previously used depreciating asset, which means they cannot claim depreciation for second-hand properties under contracts dated after 9 May 2017.

The draft legislation also provides details about a reduced CGT liability for property investors. Those who are not eligible to claim depreciation on second-hand plant and equipment may claim a capital loss for the decline in value of these assets. It will offset a capital gain and can be carried forward to offset future capital gains, if needed.
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herbie
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channaylor
9 Aug 2017, 01:17 PM
Those who are not eligible to claim depreciation on second-hand plant and equipment may claim a capital loss for the decline in value of these assets. It will offset a capital gain and can be carried forward to offset future capital gains, if needed.
I bet there's been some pretty heavy duty lobbying from the Quantity Surveyors of the nation to have that last little bit included in the legislation.

Hmmm - Thanks Chan. That was interesting.
Edited by herbie, 9 Aug 2017, 03:40 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Veritas
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Rat
9 Aug 2017, 08:46 AM
This is the official data from the ABS CPI Rents Index... http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6401.0Jun%202017

Posted Image
Limp response from a man peddaling crap.

Rents have done fck all in years.

http://www.abc.net.au/news/2017-07-03/housing-supply-v-rents/8672398
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Rat
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Filthy Rodent

Veritas
9 Aug 2017, 10:03 PM
Rents have done fck all in years.

Posted Image
Your chart has no sources listed. Where is the data from? Is it for Sydney? Paris? London? Real or nominal?

In any case, the yellow line is above 0% for the entire duration, so even your own chart shows rents always rising in whatever country or city it refers to.

Here's a link to the official ABS CPI index... http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6401.0Jun%202017

The Sydney and Melbourne indices are charted below, from the ABS CPI Rents source data. If you don't believe the ABS data then take it up with the ABS.

Posted Image
Edited by Rat, 9 Aug 2017, 10:15 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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Veritas
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Rat
9 Aug 2017, 10:10 PM
Your chart has no sources listed. Where is the data from? Is it for Sydney? Paris? London? Real or nominal?

In any case, the yellow line is above 0% for the entire duration, so even your own chart shows rents always rising in whatever country or city it refers to.

Here's a link to the official ABS CPI index... http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6401.0Jun%202017

The Sydney and Melbourne indices are charted below, from the ABS CPI Rents source data. If you don't believe the ABS data then take it up with the ABS.

Posted Image
ABS data.

Want some more Mr. Rat?

Do you deny that the ABS has rental growth at over 20 year lows?

Is that what you call a rental boom. :lol

Quote:
 
n Tuesday the latest consumer price figures showed that while inflation growth jumped a little bit to 2.1%, rental price growth at 0.6% remains the lowest it has been for more than 20 years.

This slowing of rental price growth is the main driver behind the findings of the latest Anglicare rental affordability snapshot, which show that rental affordability for couples on the minimum wage has improved ever so slightly over the past year.

Since the middle of 2014 rental prices across Australia have on average been rising slower than the minimum wage and, since the end of 2015, they have been rising slower than overall inflation:[/quote]

https://www.theguardian.com/business/grogonomics/2017/apr/27/rental-affordability-at-crisis-point-for-low-income-families
BOOOOOOOOM!!!!!!!! :lol :lol :lol

Posted Image
Edited by Veritas, 9 Aug 2017, 11:00 PM.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Rat
Member Avatar
Filthy Rodent

Veritas
9 Aug 2017, 10:49 PM
Do you deny that the ABS has rental growth at over 20 year lows?
Yes, I deny it. In fact, the ABS says Sydney and Melbourne rental growth was lower than 2017 in 2016, 2006, 2005, 2004 and 2003.

Here's a link to the data... http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6401.0Jun%202017

Percentage Change from Corresponding Quarter of Previous Year ; Rents ; Sydney, Melbourne
Jun-1997 3.8 3.6
Jun-1998 4.0 4.2
Jun-1999 3.7 2.2
Jun-2000 3.9 3.3
Jun-2001 4.2 2.6
Jun-2002 2.5 2.7
Jun-2003 0.4 1.7
Jun-2004 2.2 1.6
Jun-2005 1.4 1.5
Jun-2006 2.0 1.4
Jun-2007 4.3 4.2
Jun-2008 7.1 6.1
Jun-2009 7.0 6.1
Jun-2010 4.8 4.1
Jun-2011 5.9 3.9
Jun-2012 5.5 3.6
Jun-2013 3.9 1.8
Jun-2014 3.0 1.7
Jun-2015 2.5 2.6
Jun-2016 2.2 1.4
Jun-2017 2.5 1.7
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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