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02.11.26 - 03:48
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Down Under, Going Under: Australian Housing Implodes As RBA Hikes Into The Slump (ZeroHedge)
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Down Under, Going Under: Australian Housing Implodes As RBA Hikes Into The Slump
For three decades, the one trade every Australian knew by heart was "buy property in Sydney." Now it's disintegrating.That's the gist of a Bloomberg feature from this summer, titled "One of the World's Longest Housing Booms Is Cracking in Sydney," which at the time read like a slightly alarmist look at a market that was "only" 3.6% off its peak. Two months, one rate hike and a whole lot of downward revisions later, it reads more like the opening chapter. According to the October Cotality data released just hours ago, capital-city prices fell another 1.4% last month and are now 8.1% below their March peak, with Sydney down 9.4% from a year ago. That's already most of the way to Goldman's latest peak-to-trough forecast of -12% (cut for the second time in two months), which would be a historically large drop for a country where housing is, well, basically the economy.And the Reserve...
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24.09.26 - 08:30
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Australians ′scrambling′ for second jobs to deal with rising mortgage repayments and cost of living (The Guardian)
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Latest data also shows unemployment at highest level since the pandemic, which analysts doubt will stop RBA hiking interest ratesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralians are “scrambling” to find more work to cover soaring living expenses and prepare for higher mortgage costs, economists say, after new data showed unemployment ticked up to it's highest rate since the pandemic.The key jobless figure lifted to 4.6% in August, from 4.5% the month before, according to the Australian Bureau of Statistics. Continue reading......
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08.09.26 - 06:18
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Bathla Crisis Exposes Australia′s Property Lending Risks (Bloomberg)
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Insolvent Australian property developer Bathla Group has secured enough stopgap funding to survive a few weeks, but it still faces $2.5 billion in creditor claims. Thousands of homebuyers remain in limbo after the firm told 213 staff members to stop work, halting construction on some projects. Bloomberg Economist James McIntyre and Private Credit Reporter Sharon Klyne join "Bloomberg: The Asia Trade" to discuss the implications for Australia's property sector. (Source: Bloomberg)...
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Immobilienmarkt Australien 8845.41 -0.46% (ASX Kurs)
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