Winter is coming, momentum counts…

Positive signals across the board supporting our more recent posts on market activity in Sydney and Melbourne. Over the weekend Sydney recorded a 61.8% clearance rate from 359 properties whilst Melbourne recorded a clearance rate of 63% out of 591. More…

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Housing finance surprise, don’t tell…

Today’s ABS housing finance data for March showed a surprising seasonally adjusted 0.3 per cent rise, running contrary to the touted fall of 2.0 per cent by many analysts. So, what’s the story? A deeper analysis indicates a swing to locking in rates at their current level in anticipation of forthcoming rises. Some have been keen to delve deeper into the state by state data (clearly showing a surge in WA), cutting through the spin we relate the weekends’ Sydney and Melbourne activity with a possibly a deeper current. Call us optimistic, but, could the tide be on the turn? More…

Woop, there it is.

Don’t look now but this weekends auction results could be surprising. Traditionally cooler weather spells subdued results but our on-the-ground sources (thanks to the Harcourt Hills boys) as well as preliminary Melbourne results say something. A sustained surge? We wait to see. More…

Ed: Shout out to Ant-eater high-five.

Land – Undersupply or Oversupply?

Interesting article from Adam Carr reflecting on the most recent housing data and what impact RBA action (or inaction, depending on your viewpoint) has had on housing activity. Comments got heated on the whole oversupply / undersupply discussion, but I thought these little gems worth sharing, “There is no shortage of residential land! Look at the state government body statistics on residential lot approvals!” – HQ. And from Bruce Meaney, “The housing industry needs more new homes, but it’s not interest rates holding back the starts, it’s the over valued price of blocks of land.”

A quick scan of realestate.com.au shows 20 new land releases advertised in Queensland, 20 in NSW and 30 in Victoria. So is that enough land released to satisfy demand? Or are developers happy to drip-feed the market to retain their best return?

Take a break – Dream Weekender 2

Following on from last weeks northern NSW discovery, this week we look to the central highlands in Victoria and architect Paul Morgan’s unique project titled The Trunk House. “The site contains a beautiful forest of extant Stringybark woodland. Our original interest was in the bleached bones of sheep and kangaroo skeletons found in forests and farms, and in the thickening of these joints, needed to carry additional loads. This interest transitioned into harnessing the natural load-bearing capacity of timber found in the region by utilizing bifurcations found in tree forks.” More…

Bubbleiscious

The Richmond auction result on this dilapidated wreck of a home has created a real buzz on comment. As reported by Chris Vedelago; “Three bidders fought over the property, with the winner paying $700,000 at the fall of the hammer when the price blew past the $630,000 reserve. (Yarra council assessed the site value at $585,000 and the capital improved value at $630,000 in early 2010)”. So, yes, there a properties that make you stand up and pay close attention amongst the hundreds out there. Question is, what are the key ingredients that make something worthwhile? More…