in

The Property Cracks Are Widening

Today we look at some of the recent research from a flurry of surveys across the property market. Combined, they paint a concerning picture. And we also look at the stamp duty question, later in the show, so stay around for that!

Some 26% of Australians see mortgage repayments as a significant cost-of-living concern – that means 5.05 million people may be worried about keeping up with mortgage repayments in the coming months.

NSW Property Services Commissioner John Minns told a panel discussion on Tuesday he would like to see the land tax change expanded to include the whole property market and not just first home buyers.

But just remember such a move would primary benefit property investors who could offset the annual tax cost against the income from the property, whereas owner occupiers cannot, so in fact this could have a two fold distorting effect. First lifting the price of property by the stamp duty saving, and second orientating the benefits towards investors. In short this “reform” is not what it seems to be.

Go to the Walk The World Universe at https://walktheworld.com.au/

Today’s post is brought to you by Ribbon Property Consultants.

If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.

Buying property, is both challenging and adversarial. The vendor has a professional on their side.

Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.

Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.

Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.

Find more at https://digitalfinanceanalytics.com/blog/ where you can subscribe to our research alerts

Please consider supporting our work via Patreon: https://www.patreon.com/DigitalFinanceAnalytics

Or make a one off contribution to help cover our costs via PayPal at: https://www.paypal.me/MartinDFA

We also can received bitcoins at: 13zBL1oRib9VJu8Uc9zUGNhxKDBBgUpDN1

Please share this post to help to spread the word about the state of things….

Caveat Emptor! Note: this is NOT financial or property advice!!

Written by Walk The World

Comments

Leave a Reply
  1. I miss all the scam messages advising to get guidance from Mr. X to help me earn millions with crypto a week.

    I'm in urgent need of guidance.

    Forward guidance.

  2. The real issue is irregularities in housing affordability. Some are established and have their feet up and are relaxing. Others are working their hardest to get a deposit or to pay rent. Others have cheap subsidised housing where they are poor but have their feet up and are relaxing. The housing market is a mixed bag of a situation and is all over the place. So housing vs interest rates can't be properly regulated. It's largely an unorganised ordeal apart from the media propaganda that is floated out to divert attention and financial traffic.

  3. People still continue to pay crazy prices for houses. A friend put there property up for sale while they lived in there other house just to see what they can get given the agent they went with charges zero unless sold. They put it in for double what they paid in 2016, guess what, it sold. Good on them but people don’t care and are happy winge if things get tough and will be first to have there hand out should they government offer.

  4. "We spent over $10B to build the Webb telescope to find out about intelligent life in the universe."
    "How much $$$ to find out about un-intelligent life? You ask…"
    "Simple – All you need is a flight ticket to Aus to attend the weekend auctions!"

  5. I remember in the late 80s if there was one more rate rise it would be all over for me. I feel for borrowers today it actually feelswprse. Even though at 18%:this was the point of high stress my DIR was a 50k mortgage on a 40k income a ratio of 1.25 to 1 today there is about a quarter of borrowers above 6 to 1. This is why the stress may be worse today.

  6. Hi Martin, very interesting content as usual. What would you recommend for a similar style of content more focused on Europe? Any commentators or experts that you hold in high regard for that?

  7. How about .gov just leave the housing sector.. no give aways, no tax breaks, and no .gov interference. .gov should just do what it is paid to do, do infrastructure roads rail hospitals etc

  8. Here in America, there is no stamp duty. We pay yearly property taxes. Around 65% of it goes towards funding schools, which if you don't have kids like we do, is just theft. The larger problem is that the taxes can go up if the county officials deem it necessary. Investment firms have been the primary buyers of single family homes in my state, thus are the main drivers of the 40% increase in our homes' value in the last 12 months. That artificial price appreciation has meant that the councils have increased everyones' property taxes accordingly. Ours increased by $US700 a year, but others have increased by $US2,500. The housing market in America is beginning to crash. Houses all around our area are dropping prices on average by $US15,000-25,000. Most of these homes are owned by investors. It will be interesting to see how quickly the councils drop the property taxes, in response. I'm guessing, not quickly at all. By the way, ANZ in Australia just increased mortgage rates by 90 basis points across the board.

Leave a Reply

Your email address will not be published.

Loading…

0