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CoreLogic: Million dollar sales start to roll

August 16, 2018 - 11:15 -- Admin

By Leith van Onselen CoreLogic’s Cameron Kusher has released a new report examining sales of properties valued above $1 million, which shows values rolling over across, driven by Sydney and Melbourne: Mr Kusher’s analysis revealed that over the 2017-18 financial year, annual value growth fell from 10.2% over the previous financial year to a decline

The post CoreLogic: Million dollar sales start to roll appeared first on MacroBusiness.

ASX carnage as dirt crashes, long bond breaks

August 16, 2018 - 11:03 -- Admin

Welcome to the emerging market of Australia. AUD is hanging on: The long bond is breaking down: And the slope is flattening fast: ASX has reversed yesterday’s gains: As Big Iron gets flogged: FMG is broken with $3 the next chart support: Big Gas smashed: Big Gold too: Even Big Mortgage is down despite the

The post ASX carnage as dirt crashes, long bond breaks appeared first on MacroBusiness.

Mortgage arrears still getting worse

August 16, 2018 - 10:45 -- Admin

From S&P: Australian prime home loan arrears held steady in June. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages remained unchanged from a month earlier at 1.38%, according to a recent report by S&P Global Ratings. Arrears typically decline in June. While home loan arrears remain elevated year on year, we expect

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Rajan: Fed won’t stop hiking to protect EM

August 16, 2018 - 10:30 -- Admin

Rajan is worth listening to. My advice is watch oil. The last EM crisis made its way to the US via a crashing oil price which triggered a meltdown in US junk debt that dragged down the equity market.

The post Rajan: Fed won’t stop hiking to protect EM appeared first on MacroBusiness.

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Drought to dry up Aussie GDP

August 16, 2018 - 10:15 -- Admin

Via the AFR: A worsening of drought conditions in Australia could put market forecasts for economic growth at risk warns Citigroup, wiping more than half a percentage point from GDP growth in 2018-19 assuming the economy experiences a 20 per cent fall in farm production. There is no El Nino at the moment but the

The post Drought to dry up Aussie GDP appeared first on MacroBusiness.

Auckland house prices join the deflation

August 16, 2018 - 09:45 -- Admin

By Leith van Onselen The REINZ has released its house price data for July, which revealed a 0.2% seasonally adjusted monthly rise in the national median house price, with prices also up 6.6% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 0.2% in July, with prices up 8.6% year-on-year. Looking at the major

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Coalition blocks WA foreign home buyer surcharge

August 16, 2018 - 09:30 -- Admin

By Leith van Onselen In its May State Budget, the WA Labor Government announced that it would follow the other states and hike stamp duties on foreign buyers of residential property to 7% from 1 January 2019 – a move that would raise $120 million for the State Budget over four years. The move was staunchly

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Victoria is right to kill the NEG

August 16, 2018 - 09:30 -- Admin

On both sides. From The Australian: Federal government ministers are coming under pressure from ­colleagues to resign over the nat­ional energy guarantee in a ­counter-campaign by rebel backbenchers that risks further eroding Malcolm Turnbull’s authority as his attempts to win the support of wavering Coalition MPs ­appeared to be failing. As the Prime Minister held

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Western Sydney ground zero in interest-only mortgage bust

August 16, 2018 - 09:15 -- Admin

It’s all so bloody predictable. Via the AFR: Selling agents are starting to reveal the truth behind recent listings in Sydney’s west with Belle Property Strathfield’s Jimmy Kang saying up to 50 per cent of his clients were asking him to sell their homes in Sydney’s western suburbs because they can no longer afford their

The post Western Sydney ground zero in interest-only mortgage bust appeared first on MacroBusiness.

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