MELBOURNE RESIDENTIAL MARKET

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "MELBOURNE RESIDENTIAL MARKET"

Transcription

1 WINTER 2015 MARKET TRENDS Demand remains robust. Population growth and low interest rates remain key market drivers. Dwelling investment remains high but should slow. Price growth is continuing. Long-term fundamentals of the residential market remain sound. IN THIS REPORT Market overview 1 Market trends & indicators 2 Focus 5 Outlook 9 MELBOURNE RESIDENTIAL MARKET The Melbourne residential market continues to experience price growth and high levels of sales and building activity. Low interest rates, population growth, positive buyer sentiment and an improving state economy is supporting market activity. The inner city apartment market continues to see significant new levels of supply being delivered which is affecting both prices and rents. At the metropolitan level price growth is expected to slow as affordability and investment returns deteriorate. The Victorian residential market is the state s largest asset class with an estimated value of over $1.37 trillion according to the Australian Bureau of Statistics (ABS) as at March Dwelling supply remains at high levels. Continued strength in building approvals, especially for inner city apartments, suggests dwelling supply will remain buoyant in the short-term. However, we are likely nearing the peak of the construction cycle following several years of growth. The momentum in price growth continues driven by low interest rates (and expectations of low interest rates for the foreseeable future), continued population growth (albeit slowing) and positive buyer sentiment (especially amongst investors). Affordability remains an issue with price growth, especially in inner and middle suburbs, offsetting much of the impact of lower interest rates. KEY INDICATORS VICTORIAN RESIDENTIAL MARKETS Victoria s gradually improving economy, which is benefitting from a lower dollar and lower interest rates, is supporting property market sentiment and activity. However consumer confidence remains fragile and the labour market remains soft. The long-term prospects for Melbourne s residential property market remain robust although caution needs to be exercised in the short and medium term given a range of factors which suggests we may have now entered into a new market environment. These factors include continued price growth (despite declining rental yields), a range of new regulatory measures designed to slow both overseas purchaser and domestic investor demand, slowing population growth and low interest rates which are expected to increase in the medium term. This edition of comm3ntary examines selected current and emerging overseas investment and development trends that are shaping the Melbourne residential property market. Median House Price Median Unit & Apartment Price Median Weekly Asking Rents Houses* Median Weekly Asking Rents Units & Apartments* Gross Rental Yield - Houses* Gross Rental Yield - Units & Apartments* Vacancy rate** Inner Metro Middle Metro Outer Metro Melb. Metro Regional Vic. $1,239,500 $545,500 $565 $ % 3.9% 2.8% $827,500 $574,000 $392 $ % 3.3% 3.3% $525,500 $399,000 $357 $ % 4.1% 2.2% $706,000 $520,000 $398 $ % 3.9% 2.9% $346,000 $257,500 $290 $ % 4.9% 2.4% Source: Real Estate Institute of Victoria (REIV). June quarter *Gross yield calculated using April, May and June 2015 monthly rents.**july m3property Research.

2 MARKET TRENDS AND INDICATORS Dwelling approvals remain at record highs, led by the unit and apartment sector, but the construction cycle is nearing its peak. BUILDING APPROVALS Victorian building approvals remain at historically high levels with total annual dwelling approvals exceeding 67,000 in the year to June 2015 (26% higher over the year). Growth in approvals is being led by the non-house sector (mostly units and apartments) which exceeded 34,000 approvals in the year to June 2015 (47% higher). House approvals exceeded 33,300 dwellings (up over 9%). Following several years of strong growth, it is considered we are nearing the peak of the construction cycle which will be driven by declining non-house approvals (to more sustainable levels), affordability constraints and slowing population growth and housing starts. No. of Approvals 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Victorian Monthly Dwelling Building Approvals Source: ABS, m3property Research. Total House Total Non-House Total Dwelling Victoria s population is the fastest growing in Australia but growth is expected to decline as net overseas migration slows. POPULATION National population growth remains at high levels albeit below recent peaks. As at 31 December 2014 the preliminary estimated resident population (ERP) of Australia was over 23.6 million people having increased by 330,200 people over the year (1.4%). The preliminary estimate of net overseas migration for the year ended 31 December 2014 (184,100 people) was 32,000 people (-14.8%) lower than the previous year (216,200 people). Victoria is the fastest growing jurisdiction. Victoria s ERP as at December 2014 was nearly 5.9 million people reflecting an annual increase of around 101,500 people (1.8%). Victoria recorded the highest net interstate migration in over four decades with 9,300 people (net) moving to the State from the rest of Australia in Victoria s net interstate migration is being driven by a range of factors including employment losses in mining and resources industries (which has impacted population growth in Queensland and Western Australia especially.) Going forward, Victoria s population growth is expected to slow as both net overseas and interstate migration moderate. Comm3ntary Winter 2015 P2

3 MARKET TRENDS AND INDICATORS Melbourne continues to see robust price growth. MEDIAN HOUSE AND UNIT PRICES Prices provide important information on market trends and imbalances including differences in demand and supply. CoreLogic RP Data reports that Melbourne dwelling values were up 10.2% over the year to June 2015 with annual growth outstripping annual average growth over the last five and ten years. Melbourne Dwelling Values - Growth Country Houses Units Dwellings Past 12 months 11.2% 2.4% 10.2% Annual over five years 3.4% 1.5% 3.2% Annual over ten years 6.7% 4.8% 6.5% Source: CoreLogic, m3property Research. Melbourne dwelling price growth was led by houses (11.2% over the year to June 2015) with units experiencing more subdued growth (2.4%) being affected by continued increases in new apartment supply. Melbourne s value growth has been led by the inner and middle ring suburbs. Melbourne s value growth has been led by inner and middle ring suburbs. The Real Estate Institute of Victoria (REIV) reports that inner Melbourne region (0-10 km from the CBD) house prices increased by 13.6% (to $1,239,500) in the year to the June quarter Over the same period middle Melbourne (10-20 km from the CBD) house prices increased by 11.2% (to $827,500). Outer Melbourne (20+ km from the CBD) house prices increased by 5.8% (to $525,500). The high levels of new apartment supply continue to affect the prices of units and apartments. As shown in the graph below the gap between inner and middle region houses and units/apartments has continued to widen in recent quarters reflecting the relative scarcity of houses compared to the growing apartment stock. 1,400,000 1,200,000 Melbourne median dwelling prices by region Inner Houses Middle Houses Inner Apartments* Middle Apartments*. Median Prices ($) 1,000, , , , ,000 0 Source: REIV, m3property Research. *Units/and Apartments. Comm3ntary Winter 2015 P3

4 MARKET TRENDS AND INDICATORS MAJOR RESIDENTIAL REDEVELOPMENT PROJECTS Dwellings in buildings of four plus storeys has driven the growth in dwelling supply in major residential redevelopment projects over the last decade. This trend is expected to continue. The Victorian Government s Urban Development Program (UDP) report (October 2014) highlights the type and extent of residential redevelopment activity currently underway and expected to occur in metropolitan Melbourne going forward. It is estimated there were over 203,000 dwellings in major residential redevelopment projects, that were either under construction or anticipated to commence construction over the next ten years, in mid-2014 (see the following graph). The pipeline of new dwelling supply in major residential redevelopments has increased from to with an increasing proportion of anticipated dwellings to be in buildings of four or more storeys. Number of dwellings anticipated over the nex ten years 250, , , ,000 50,000 0 Annual major residential redevelopment pipeline of dwellings by built form Detached Attached 1 Storey 2-3 storeys 4+ Storeys Source: Urban Development Program (UDP) - Victorian Government, m3property Research. Inner Melbourne municipalities have seen the strongest growth in the number of dwellings under construction or anticipated to be completed. Inner Melbourne municipalities, especially the City of Melbourne, have seen the strongest growth in the number of dwellings under construction or anticipated in the next ten years (from around 47,000 in to over 111,100 in ) as shown in the following graph. Number of dwellings anticipated over the nex ten years 250, , , ,000 50,000 0 Residential redevelopment pipeline by region Inner Middle Outer Growth Areas Source: Urban Development Program (UDP) - Victorian Government, m3property Research. Comm3ntary Winter 2015 P4

5 FOCUS OVERSEAS INVESTMENT Overseas investment, especially that originating from Asia and specifically China, is playing an increasingly important role in the Melbourne residential property market. Focus Overseas Investment into Residential Property Overseas investment, especially that originating from Asia and specifically China, is playing an increasingly important role in the Melbourne residential property market. In recent years overseas investment interest in Australian property especially that originating from China, but also from other Asian countries has intensified and often due to different reasons. In recent weeks this interest has been partly driven by stock market / financial volatility in China raising questions about the short term outlook for the world s second largest economy and, by implication, the potential impact on Australian residential property markets. This edition of comm3ntary considers a range of current and emerging trends which will influence overseas investment into residential property markets. These include: The increasing importance of Asian (and especially Chinese) investment The increasing role of overseas developers and The increasing role of Asian immigration and the nexus between immigration and the property market. Although most property professionals are cognisant of these trends they are perhaps less aware of their magnitude or rate of change. Comm3ntary Winter 2015 P5

6 FOCUS OVERSEAS INVESTMENT China is now the largest source of approved foreign investment in Australia driven mainly by significant increases in residential real estate approvals. 1. The Rise of Chinese Investment The Foreign Investment Review Board s (FIRB) most recent annual report notes that, for the first time in , China was Australia s largest source of proposed foreign investment due to a significant increase in residential real estate approvals. As shown in the following graph, China was the largest source country for approved real estate sector investment in accounting for 16.6% of all approved investments (by value) in the sector ($12.4 billion out of $74.6 billion). Other large source real estate investment destinations were the United States ($6.1 billion), Singapore ($4.3 billion), Canada (over $2.9 billion) and Malaysia ($2.0 billion). Across all sectors (real estate and other industries) China ($27.7 billion) was the largest source country for approved proposed investment (16.5% of total value), followed by the US ($17.5 billion), Canada ($15.4 billion), Malaysia ($7.2 billion) and Singapore ($7.1 billion). In the same year real estate investment dominated approvals by sector accounting for 45% of all approved investment ($74.6 billion out of $167.4 billion). Real estate approved investments rose 44% ($51.9 billion to $74.6 billion) over the period to Growth was driven by an increase in residential real estate investment which rose by 102% (from $17.2 billion to $34.7 billion). Investment in commercial real estate increased by 15% (from $34.8 billion in to $39.9 billion in ) Foreign Investment Review Board (FIRB) real estate approvals by country of investor, $ billion China USA Canada Malaysia Singapore UK Source: FIRB Annual Report , m3property Research. Comm3ntary Winter 2015 P6

7 FOCUS OVERSEAS INVESTMENT Overseas developers are increasingly active in the Australian market. 2. The Rise of Overseas Developers Although overseas buyers of completed residential dwellings remain among the most visible signs of foreign investment, overseas developers are also becoming increasingly important. Currently, Chinese developers are playing a leading role with these firms representing the second wave of modern Asian development investment flows following the first wave of Singaporean and Malaysian developers. The overseas expansion by Chinese developers is part of a broader national structural investment shift currently underway in China which has seen private firms increasingly take over from state owned enterprises (SOEs) across a range of industry sectors. Private Chinese capital is now a major element in global property and other markets following earlier waves of SOE investment. Research by the University of Sydney and KPMG finds that 2014 was a threshold year for Australia. For the first time total investment from China s private enterprises across various sectors exceeded investment from SOEs (both in terms of deal number and deal value). In the case of Melbourne overseas developers have been especially active in the inner city residential market acquiring numerous development sites. Over the period January 2013 to June 2015, for example, it is estimated that overseas developers acquired nearly three quarters of all development sites in the Melbourne CBD and Southbank/South Melbourne markets (by value). As shown in the following chart, the largest overseas buyers were all from Asia and specifically China (27%) followed by Singapore (21%). CBD and Southbank Development Site Acquisitions by Value* Malaysian, 17% Unknown/not disclosed, 7% Singapore, 21% Australia, 28% China, 27% Source: m3property Research. *From January 2013 to June In recent years overseas developer activity has been buoyed by a unique mix of factors including a low cost of capital, a higher tolerance for debt (and better funding capacity compared to local developers) and the ability to market units off the plan to Asian buyers. In some cases, issues in foreign developers domestic markets have forced firms to look abroad for opportunities. High profile developments in and around Melbourne s CBD have provided an opportunity for overseas developers to build their brand in the local market and in their home market both important sources of buyer demand. Although overseas developers have traditionally been focused on the CBD and surrounding areas, often outbidding local developers who are forced to consider more removed locations, overseas developers have also been increasingly active in markets beyond the CBD including the city fringe. Some overseas developers are characterised by a long term view being content to land bank in Australia and hold assets with potential redevelopment/conversion potential (for example older secondary commercial office stock). Comm3ntary Winter 2015 P7

8 FOCUS OVERSEAS INVESTMENT One of the most important reasons driving property purchases is as a step to permanent migration or citizenship. 3. Immigration and Residential Property Overseas investors purchase Australian real estate for a range of reasons including investment, lifestyle and safe-haven drivers. In some cases these buyers might be restricted in their home or other markets. One of the most important reasons is as a step to permanently migrating to Australia. Changes in Australia s demographic profile can provide information on migration trends and underlying demand for Australian property in Melbourne, Sydney and other capital cities. This is especially the case as most immigrants settle in the major cities and often in particular regions in these cities. The following table shows the growth in the number of people living in Australia, but born in other countries, over the period 2001 to Growth in the number of people born in China and India outstripped growth in all other ethnic groups over the period. Population, Country of Birth Australia Rank Country Change ( ) Persons % No. 1 United Kingdom* 1,036,245 1,038,160 1,101,082 6% 64,837 2 New Zealand 355, , ,397 36% 127,632 3 China** 142, , , % 176,189 4 India 95, , , % 199,910 5 Italy 218, , ,403-15% -33,315 6 Vietnam 154, , ,036 20% 30,205 7 Philippines 103, , ,234 65% 67,292 8 South Africa 79, , ,682 83% 66,257 9 Malaysia 78,858 92, ,196 47% 37, Germany 108, , ,001 0% -219 Source: ABS Census, m3property Research. *Includes Channel Islands and Isle of Man. **Excludes the Special Administrative Regions of Hong Kong and Macau. Excludes Taiwan. Australia s international education sector is both a direct and indirect driver of local property demand. Some international students opt to stay in Australia (direct impact) after their studies while our large overseas student population helps to build Australia s reputation in student source countries (indirect impact). Mirroring broader migration trends, Asian students (especially those from China), represent the bulk of Australia s international education enrolments across all education sectors (e.g. higher education, vocational education and training (VET), English Language Intensive Courses for Overseas Students (ELICOS), schools etc.). In particularly, the top five nationalities (accounting for over 51%) of Australia s international enrolments in all sectors were Asian with students from China and India making up over 38% of all enrolments (as at May 2015). Recent changes by Australian Government in easing visa requirements may see more students choosing to stay once they graduate. In particular, many student visa holders are now able to undertake further temporary work experience following graduation for periods of 18 months to four years. Increasing the ability of students to work after graduation may assist some students and their families in seeking permanent residency or citizenship either soon after their studies or sometime in the future. Comm3ntary Winter 2015 P8

9 m3property Research OUTLOOK The outlook for residential is cautiously positive. GSP annual growth (%) 3.5 Economic Growth - Victoria For more information please contact: Research Contact George Bougias P M Valuation Contact Luana Kenny P M (a) (f) (f) (f) (f) Source: Victorian Government Budget Update. Department of Treasury and Finance, m3property Research. The long-term outlook for the Melbourne residential property market is positive but caution needs to be exercised in the short to medium term. Supply levels are forecast to remain buoyant in the short-term, as suggested by continued strength in building approvals, although the construction cycle is expected to be nearing its peak. High levels of new supply in the inner city apartment market will continue to place downwards pressure on rents and prices in this sector. Population growth, a key market driver, should slow as net overseas migration and net interstate migration inflows decline from recent peaks. A range of factors suggests we may have now entered into a new market landscape which could see market demand moderate and price growth slow. These factors include low investment yields, new regulatory measures designed to slow both overseas purchaser and domestic investor demand and slowing population growth. Definitions Auction Clearance Rates: are a measure of demand. It is the ratio of successful sales compared to the total properties reported as auctioned over a defined period of time. Median Unit Price: Middle value from a set of unit sales over a defined period of time. OFFICES Adelaide Brisbane Melbourne Level 3 44 Waymouth Street Adelaide South Australia 5000 T 61 (8) F 61 (8) Level 2 15 James Street Fortitude Valley Queensland 4006 T 61 (7) F 61 (7) Level Bourke Street Melbourne Victoria 3000 T 61 (3) F 61 (3) Perth Sydney Disclaimer Unit Stirling Highway Nedlands Western Australia 6009 T 61 (8) F 61 (8) Level 23, MLC Centre 19 Martin Place Sydney New South Wales 2000 T 61 (2) F 61 (2) This report has been derived, in part, from sources other than m3property. In passing on this information, m3property makes no representation that any information or assumption contained in this material is accurate or complete. To the extent that this material contains any statement as to the future, it is simply an estimate or opinion based on information currently available to m3property and contains assumptions which may be incorrect. m3property makes no representation that any such statements are, or will be, accurate.

Adelaide CBD Office Market

Adelaide CBD Office Market SPRING 2015 MARKET TRENDS Leasing demand strengthened in the year to July 2015, led by take up from the Government and regulatory authorities and Utilities, Mining and resources sectors. Supply additions

More information

Submission to the Inquiry into Foreign Investment in Residential Real Estate

Submission to the Inquiry into Foreign Investment in Residential Real Estate Submission to the Inquiry into Foreign Investment in Residential Real Estate House of Representatives Standing Committee on Economics Executive Summary The available data, while incomplete, suggest that

More information

MELBOURNE. Australia s prime investment location for 2015 & beyond

MELBOURNE. Australia s prime investment location for 2015 & beyond MELBOURNE Australia s prime investment location for 2015 & beyond Population The main driver for an increase in property prices, naturally, is demand. Therefore population trends are an important factor

More information

Australian Housing Outlook 2014-2017. By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014

Australian Housing Outlook 2014-2017. By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014 Australian Housing Outlook 2014-2017 By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014 Recent Residential Property Market Trends Residential property demand has varied across purchaser

More information

Global Cities and Housing

Global Cities and Housing Global Cities and Housing The Sydney Case in its Australian and International Context Vivienne Milligan Context Demography and urban settlement patterns Economic conditions Governance, policy and institutions

More information

CAPITAL ATTRACTION: THE RISE OF AUSTRALIA AS AN INVESTMENT DESTINATION

CAPITAL ATTRACTION: THE RISE OF AUSTRALIA AS AN INVESTMENT DESTINATION CAPITAL ATTRACTION: THE RISE OF AUSTRALIA AS AN INVESTMENT DESTINATION 8 th September Stephen McNabb - Head of Research, Australia Prepared for: UNSW Real Estate Symposium 2015 TODAY S PRESENTATION Observations

More information

Foreign Investment in Residential Real Estate

Foreign Investment in Residential Real Estate Foreign Investment in Residential Real Estate Maurice Gauder, Claire Houssard and David Orsmond* The available data, while incomplete, suggest that for much of the past decade or so approvals granted for

More information

Outlook for Australian Property Markets 2010-2012. Perth

Outlook for Australian Property Markets 2010-2012. Perth Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012

More information

Trends in Foreign Direct Investment Inflows

Trends in Foreign Direct Investment Inflows Trends in Foreign Direct Investment Inflows This article briefly examines recent trends in foreign direct investment in Australia, both in the context of the longer-term perspective and relative to the

More information

Analysis of Australia s Education exports

Analysis of Australia s Education exports - 1 - Analysis of Australia s Education exports Australia s exports of Education services are an important part of Australia s services exports to the world, accounting for around 36 per cent of total

More information

Housing market report

Housing market report Domain Capital City Market Report Prepared July Dr Andrew Wilson, Senior Economist Australian Property Monitors Buyer momentum rises and the Australian housing market strengthens to record levels National

More information

Inner Brisbane Apartments

Inner Brisbane Apartments Inner Brisbane Apartments 2016 2023 Extract to indicate the general nature of the report Residential Property www.bis.com.au Contents Inner Brisbane Apartments 2016 2023 Contents EXECUTIVE SUMMARY... I

More information

CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2014

CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2014 CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2014 AUSTRALIA, MAINLAND CHINA, HONG KONG, INDONESIA, MALAYSIA, NEW ZEALAND, SINGAPORE AND VIETNAM Legal notice CPA Australia Ltd ( CPA Australia ) is one

More information

SUBMISSION STATE BUDGET March 2016

SUBMISSION STATE BUDGET March 2016 SUBMISSION STATE BUDGET 2016-2017 March 2016 CONTENTS REIV STATE BUDGET SUBMISSION ABOUT REIV 3 INTRODUCTION 4 KEY PRIORITIES 4 FIRST HOME BUYERS 5 ENSURING COMPETITIVE LAND TAX RATES 6 PROMOTING INVESTMENT

More information

Industry Outlook. Construction ISSN

Industry Outlook. Construction ISSN Industry Outlook Construction ISSN 2201-3660 Table of Contents Employment... 1 Sectoral Employment... 2 Geographic Distribution... 4 Workforce Characteristics... 6 Workforce Age Profile... 6 Gender and

More information

Tourism Western Australia. Fast Facts Year Ending September 2014

Tourism Western Australia. Fast Facts Year Ending September 2014 Tourism Western Australia Fast Facts Year Ending September 2014 Prepared by the Research Team December 2014 PLEASE NOTE Changes to National Visitor Survey Methodology Tourism Research Australia s (TRA)

More information

Queensland Government Statistician s Office Queensland Treasury and Trade

Queensland Government Statistician s Office Queensland Treasury and Trade Population growth highlights and trends, Queensland 2014 Queensland Government Statistician s Office Queensland Treasury and Trade http://www.oesr.qld.gov.au The State of Queensland (Queensland Treasury

More information

Australian Population & Migration Research Centre Policy Brief

Australian Population & Migration Research Centre Policy Brief - 1 - Australian Population & Migration Research Centre Policy Brief National Growth Areas Alliance AUGUST, 2013 POPULATION DYNAMICS IN OUTER SUBURBS, 2006-11 By Graeme Hugo and Kevin Harris Outer suburbs

More information

Quarterly Review. The Australian Residential Property Market and Economy. Released November 2014

Quarterly Review. The Australian Residential Property Market and Economy. Released November 2014 Quarterly Review The Australian Residential Property Market and Economy Released November 2014 Better data + = Better analytics Better decisions Contents Housing Market Overview Sydney Market Overview

More information

State of the Market Report. Dr Andrew Wilson Senior Economist for the Domain Group

State of the Market Report. Dr Andrew Wilson Senior Economist for the Domain Group State of the Market Report Dr Andrew Wilson Senior Economist for the Domain Group About us Domain Group Domain Group, a Fairfax Media real estate business, is a leading supplier of multi-platform property

More information

State of the Market Report

State of the Market Report State of the Market Report Dr Andrew Wilson Senior Economist for the Domain Group Melbourne About us Domain Group Domain Group, a Fairfax Media real estate business, is a leading supplier of multi-platform

More information

AUSTRALIA S EXPORTS OF EDUCATION SERVICES 1

AUSTRALIA S EXPORTS OF EDUCATION SERVICES 1 AUSTRALIA S EXPORTS OF EDUCATION SERVICES 1 Introduction Australia s education services exports have continued to grow in importance this decade. Since 1982, education services exports have grown at an

More information

The Outlook for Residential Land in Melbourne

The Outlook for Residential Land in Melbourne The Outlook for Residential Land in Melbourne 2015 2020 Extract to indicate the general nature of the report RESIDENTIAL PROPERTY www.bis.com.au BIS Shrapnel Pty Limited August 2015 The information contained

More information

Domain House Price Report June Quarter 2015

Domain House Price Report June Quarter 2015 Domain House Price Report June Quarter 2015 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Sydney market reports remarkable growth over June quarter to reach median house price of

More information

Housing Affordability Report

Housing Affordability Report Housing Affordability Report Joint ly Survey No. 94. ch Interest rate increases bite hard The title of the Deposit Power/Real Estate Institute of Australia Home Loan Affordability Report has been changed

More information

REIA SUBMISSION TO THE STANDING COMMITTEE ON ECONOMICS INQUIRY INTO AUSTRALIA'S FOREIGN INVESTMENT POLICY AS IT APPLIES TO RESIDENTIAL REAL ESTATE

REIA SUBMISSION TO THE STANDING COMMITTEE ON ECONOMICS INQUIRY INTO AUSTRALIA'S FOREIGN INVESTMENT POLICY AS IT APPLIES TO RESIDENTIAL REAL ESTATE REIA SUBMISSION TO THE STANDING COMMITTEE ON ECONOMICS INQUIRY INTO AUSTRALIA'S FOREIGN INVESTMENT POLICY AS IT APPLIES TO RESIDENTIAL REAL ESTATE MAY 2014 PREPARED BY Real Estate Institute of Australia

More information

Residential Property Prospects

Residential Property Prospects Residential Property Prospects 2015 2018 Extract to indicate the general nature of the report www.bis.com.au BIS Shrapnel Pty Limited June 2015 The information contained in this report is the property

More information

RP Data chart pack. October 2014

RP Data chart pack. October 2014 RP Data chart pack October 2014 Macro housing market indicators 2 Residential real estate absolutely underpins Australia s wealth position Residential Real Estate $5.6 Trillion Australian Superannuation

More information

Outlook for Australian Property Markets Sydney

Outlook for Australian Property Markets Sydney Outlook for Australian Property Markets 2010-2012 Sydney Outlook for Australian Property Markets 2010-2012 Sydney Residential Stimulus and the confidence drives recovery Finance commitments to buy or construct

More information

Australian Housing Outlook Prepared by BIS Shrapnel for QBE LMI October 2013

Australian Housing Outlook Prepared by BIS Shrapnel for QBE LMI October 2013 Australian Housing Outlook 2013-2016 Prepared by BIS Shrapnel for QBE LMI October 2013 DISCLAIMER: The information contained in this publication has been obtained from BIS Shrapnel Pty Limited and does

More information

www.nextstepaustralia.com Buying a Property in Australia

www.nextstepaustralia.com Buying a Property in Australia www.nextstepaustralia.com Buying a Property in Australia Buying a Property in Australia Housing Market in Australia - Update May 2010 Trends indicate that Australia has ridden out the worst of its house

More information

RESERVE BANK OF AUSTRALIA

RESERVE BANK OF AUSTRALIA RESERVE BANK OF AUSTRALIA AUSTRALIA S FOREIGN TRADE AND INVESTMENT RELATIONSHIPS Ric Battellino Deputy Governor Remarks to 3 rd Annual Australian Parliamentary Conference, Perth 6 November 2009 AUSTRALIA

More information

City of Melbourne Student and Education Profile

City of Melbourne Student and Education Profile Melbourne City Research City of Melbourne Student and Education Profile 2014 www.melbourne.vic.gov.au Contents 1. Background and Definitions... 4 2. Snapshot of tertiary students in the City of Melbourne...

More information

RP Data Housing market update. October 2014

RP Data Housing market update. October 2014 RP Data Housing market update October 2014 Residential real estate underpins Australia's wealth Source: RP Data, ASX, SPAA, PCA 2 Capital gain: Home values up 9.3% over past year, however the annual rate

More information

Residential Commentary Sydney Apartment Market

Residential Commentary Sydney Apartment Market Residential Commentary Sydney Apartment Market March 216 Executive Summary It has been a good year for the NSW economy. State Final Demand (SFD) increased 3.% in 215, as compared to an average of 2.2%

More information

Quarterly Review. The Australian Residential Property Market and Economy. Released September 2015

Quarterly Review. The Australian Residential Property Market and Economy. Released September 2015 Quarterly Review The Australian Residential Property Market and Economy Released September 215 Contents Housing Market Overview 3 Sydney Market Overview 9 Melbourne Market Overview 1 Brisbane Market Overview

More information

Foreign Direct Investment in the United States. Organization for International Investment

Foreign Direct Investment in the United States. Organization for International Investment Foreign Direct Investment in the United States Organization for International Investment March 18, 2009 Key Findings FOREIGN DIRECT INVESTMENT IN THE UNITED STATES Foreign Direct Investment in the United

More information

2 Population ageing in Australia 2.1 Some demographic features of Australia s population

2 Population ageing in Australia 2.1 Some demographic features of Australia s population 2 Population ageing in Australia 2.1 Some demographic features of Australia s population Before discussion of the general trends in population growth and ageing, it is worth highlighting some important

More information

Projections of Australia's population to methods, results & concerns. Richard Cumpston

Projections of Australia's population to methods, results & concerns. Richard Cumpston Projections of Australia's population to 2051 - methods, results & concerns Richard Cumpston A paper to be presented at the 2002 Australian Population Association Conference, Sydney 2-4 October 2002. Richard

More information

Australia s position in global and bilateral foreign direct investment

Australia s position in global and bilateral foreign direct investment Australia s position in global and bilateral foreign direct investment At the end of 213, Australia was the destination for US$592 billion of global inwards foreign direct investment (FDI), representing

More information

Recent Developments in Housing: Prices, Finance and Investor Attitudes

Recent Developments in Housing: Prices, Finance and Investor Attitudes Reserve Bank of Australia Bulletin July Recent Developments in Housing: Prices, Finance and Investor Attitudes Over the past five years, there has been a sustained rise in house prices in most major cities

More information

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT 2 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT LEGAL NOTICE CPA Australia Ltd ( CPA Australia )

More information

$0.4bn total spend. 55,100 arrivals. 2.8m total nights. 1.0m dispersed nights* Italy Market Profile. 1.1 Market Overview. Australia ranks 21st

$0.4bn total spend. 55,100 arrivals. 2.8m total nights. 1.0m dispersed nights* Italy Market Profile. 1.1 Market Overview. Australia ranks 21st Market Profile 1.1 Market Overview In 2011, Italy was Australia s 19th largest inbound market for visitor arrivals and total expenditure and 20th for visitor nights. Aviation London Milan Italy Frankfurt

More information

REA Group Property Demand Index

REA Group Property Demand Index REA Group Property Demand Index Nerida Conisbee Chief Economist at REA Group MARCH SEPTEMBER 2016 The REA Group Property Demand Index is produced by the REA Group, owner and operator of realestate.com.au

More information

The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost *

The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost * The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost * There has been substantial consolidation among firms in many industries in countries around

More information

Tourism and Hotel Market Outlook 2014 Half yearly report

Tourism and Hotel Market Outlook 2014 Half yearly report Deloitte Access Economics Tourism and Hotel Market Outlook 2014 Half yearly report July 2014 Tourism and Hotel Market Outlook 2014 Half yearly report 1 Overview A strong start to 2014 Improved economic

More information

NAB Residential Property Survey: Q1 2016 by NAB Group Economics Embargoed until: 11.30am Wednesday 20 April 2016

NAB Residential Property Survey: Q1 2016 by NAB Group Economics Embargoed until: 11.30am Wednesday 20 April 2016 NAB Residential Property Survey: Q1 216 by NAB Group Economics Embargoed until: 11.3am Wednesday 2 April 216 NAB s Residential Property Index reverses its recent slide as sentiment improves in all states

More information

Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors

Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors Andrew Hewett IDP Education Australia Agenda and Key Issues Pathways

More information

Q Manpower. Employment Outlook Survey Global. A Manpower Research Report

Q Manpower. Employment Outlook Survey Global. A Manpower Research Report Manpower Q 6 Employment Outlook Survey Global A Manpower Research Report Manpower Employment Outlook Survey Global Contents Q/6 Global Employment Outlook International Comparisons Americas International

More information

Australian Student Accommodation Market Update June 2015

Australian Student Accommodation Market Update June 2015 Australian Student Accommodation Market Update 2015 June 2015 JLL s second student accommodation market update provides an overview of Purpose Built Student Accommodation (PBSA) in Australia. Over the

More information

sdrftsdfsdfsdfsdw Pre-Budget Submission For WA State Budget 2016

sdrftsdfsdfsdfsdw Pre-Budget Submission For WA State Budget 2016 sdrftsdfsdfsdfsdw Pre-Budget Submission For WA State Budget 2016 1 P a g e Budget Submission Highlights Market fundamentals are positive for strong tourism economic output and employment growth, provided

More information

INTERNATIONAL VISITORS IN AUSTRALIA. Quarterly results of the International Visitor Survey JUNE 2013 INTERNATIONAL VISITORS IN AUSTRALIA

INTERNATIONAL VISITORS IN AUSTRALIA. Quarterly results of the International Visitor Survey JUNE 2013 INTERNATIONAL VISITORS IN AUSTRALIA INTERNATIONAL VISITORS IN AUSTRALIA Quarterly results of the International Visitor Survey JUNE 2013 INTERNATIONAL VISITORS IN AUSTRALIA International Visitors in Australia June 2013 Quarterly Results

More information

3. Domestic Economic Conditions

3. Domestic Economic Conditions 3. Domestic Economic Conditions Growth in the Australian economy appears to have remained a bit below average over 1 (Graph 3.1). Strong growth in the September quarter was driven by a rebound in resource

More information

International Education in the Comox Valley: Current and Potential Economic Impacts

International Education in the Comox Valley: Current and Potential Economic Impacts International Education in the Comox Valley: Current and Potential Economic Impacts FINAL REPORT March 2012 Prepared by: Vann Struth Consulting Group Inc. Vancouver, BC www.vannstruth.com Prepared for:

More information

Cultural Diversity in Western Australia

Cultural Diversity in Western Australia Government of Western Australia Department of Local Government and Communities Office of Multicultural Interests Cultural Diversity in Western Australia A Demographic Profile October 2013 Cultural Diversity

More information

Australian Housing Outlook 2015 2018. Prepared by BIS Shrapnel for QBE October 2015

Australian Housing Outlook 2015 2018. Prepared by BIS Shrapnel for QBE October 2015 Australian Housing Outlook 2015 2018 Prepared by BIS Shrapnel for QBE October 2015 DISCLAIMER: The information contained in this publication has been obtained from BIS Shrapnel Pty Limited and does not

More information

Chinese Newspaper Group

Chinese Newspaper Group Chinese Newspaper Group Media Kit 2014 Company Profile Established in 1986, the Chinese Newspaper Group is the only privately owned and operated Chinese press group in Australia. With over 20 years experience

More information

Market Commentary Melbourne CBD Office

Market Commentary Melbourne CBD Office Market Commentary Melbourne CBD Office July 2015 Executive Summary The Melbourne CBD office market recorded strong net absorption of 26,000 sqm in 2Q15. This is the fifth consecutive quarter of positive

More information

Factsheet: Malaysia. Purpose: Intelligence

Factsheet: Malaysia. Purpose: Intelligence Factsheet: Malaysia Updated: August 2015 Purpose: The purpose of this document is to provide an update on key statistics on international students in this market. It draws on several datasets, specifically

More information

Australia s International Business Survey: 2015 Report

Australia s International Business Survey: 2015 Report Australia s International Business Survey: 2015 Report Survey partners Australia s International Business Survey: 2015 Report ABOUT THIS REPORT Australia s International Business Survey 2015 is the follow-up

More information

Economic modelling of skills demand and supply. Australian Workforce and Productivity Agency

Economic modelling of skills demand and supply. Australian Workforce and Productivity Agency Economic modelling of skills demand and supply Australian Workforce and Productivity Agency 2 November 2012 Contents Glossary... i Executive Summary... i 1 Introduction... 13 2 Macroeconomic view... 15

More information

Property Operators and Real Estate Services Industry Report

Property Operators and Real Estate Services Industry Report Property Operators and Real Estate Services Industry Report Property Operators and Real Estate Services Industry Report Industry Division Rental, Hiring and Real Estate Services Industry Division Industry

More information

Key themes from Treasury s Business Liaison Program

Key themes from Treasury s Business Liaison Program Key themes from Treasury s Business Liaison Program 73 Introduction As part of Treasury s Business Liaison Program, staff met with around 25 businesses and a number of industry and government organisations

More information

AUSTRALIAN RESIDENTIAL DEVELOPMENT OUTLOOK

AUSTRALIAN RESIDENTIAL DEVELOPMENT OUTLOOK AUSTRALIAN RESIDENTIAL DEVELOPMENT OUTLOOK SPRING EDITION OCTOBER 2015 RESIDENTIAL DEVELOPMENT COUNCIL AUSTRALIAN RESIDENTIAL DEVELOPMENT OUTLOOK - SPRING EDITION 2015 1 ABOUT THE AUSTRALIAN RESIDENTIAL

More information

Housing market report

Housing market report Australian Capital City Market Report Prepared June Dr Andrew Wilson, Senior Economist Australian Property Monitors Strong autumn launching pad for higher winter activity National overview Australia s

More information

Domestic Activity. Graph 6.2 Terms of Trade Log scale, 2013/14 average = 100

Domestic Activity. Graph 6.2 Terms of Trade Log scale, 2013/14 average = 100 6. Economic Outlook 6 The International Economy The outlook for GDP growth of Australia s major trading partners (MTPs) is unchanged from the November Statement. Over the next few years, growth is expected

More information

Chinese students and the higher education market in Australia and New Zealand.

Chinese students and the higher education market in Australia and New Zealand. Chinese students and the higher education market in Australia and New Zealand. by Ma Xiaoying English Department North China Electric University, Beijing, China and Malcolm Abbott Centre for Research in

More information

REVIEW OF FINANCIAL CONDITIONS: JUNE 2012

REVIEW OF FINANCIAL CONDITIONS: JUNE 2012 REVIEW OF FINANCIAL CONDITIONS: JUNE 1 HOUSEHOLD SECTOR Real household disposable income increased by 1. per cent in the March quarter to be.8 per cent higher over the year. The household saving ratio

More information

Information Communication and Technology (ICT) Market Insights

Information Communication and Technology (ICT) Market Insights Information Communication and Technology (ICT) Market Insights A Manpower Market Insights Paper April 2009 Australia The Australia economy is facing its biggest challenge in the current economic environment

More information

International Visitor Arrivals to New Zealand: January 2015

International Visitor Arrivals to New Zealand: January 2015 International Visitor Arrivals to New Zealand: January 215 Overseas visitor arrivals to New Zealand by country of residence and selected characteristics Crown copyright This work is licensed by Statistics

More information

Home loan affordability report

Home loan affordability report Home loan affordability report Joint Quarterly Survey No. 89. ember Quarter Low affordability challenges Gen X, Y Home loan affordability has taken another beating as the proportion of family income required

More information

International Visitor Arrivals to New Zealand: January 2016

International Visitor Arrivals to New Zealand: January 2016 International Visitor Arrivals to New Zealand: January 216 Overseas visitor arrivals to New Zealand by country of residence and selected characteristics Crown copyright This work is licensed under the

More information

Australian Housing Outlook 2014 2017. Prepared by BIS Shrapnel for QBE October 2014

Australian Housing Outlook 2014 2017. Prepared by BIS Shrapnel for QBE October 2014 Australian Housing Outlook 2014 2017 Prepared by BIS Shrapnel for QBE October 2014 DISCLAIMER: The information contained in this publication has been obtained from BIS Shrapnel Pty Limited and does not

More information

For personal use only

For personal use only STRONG TRANSACTIONAL INCOME BOOSTS CROMWELL S $164.5 MILLION OPERATING PROFIT FY16 HIGHLIGHTS Statutory profit of $329.6 million up 122% from $148.8 million in FY15 Operating profit of $164.5 million up

More information

Factors affecting the inbound tourism sector. - the impact and implications of the Australian dollar

Factors affecting the inbound tourism sector. - the impact and implications of the Australian dollar Factors affecting the inbound tourism sector - the impact and implications of the Australian dollar 1 Factors affecting the inbound tourism sector - the impact and implications of the Australian dollar

More information

6. Economic Outlook. The International Economy. Graph 6.2 Terms of Trade Log scale, 2012/13 average = 100

6. Economic Outlook. The International Economy. Graph 6.2 Terms of Trade Log scale, 2012/13 average = 100 6. Economic Outlook The International Economy Growth of Australia s major trading partners is expected to be around its long-run average in 015 and 016 (Graph 6.1). Forecasts for 015 have been revised

More information

CHINESE INVESTMENT PROPERTY WATCH REPORT AUSTRALIA. GOLD COAST Surfers Paradise

CHINESE INVESTMENT PROPERTY WATCH REPORT AUSTRALIA. GOLD COAST Surfers Paradise CHINESE INVESTMENT PROPERTY WATCH REPORT GOLD COAST Surfers Paradise AUSTRALIA Fourth Quarter 2013 2015 CHINA ECONOMIC OVERVIEW In 2014, China s GDP growth stood at 7.4%. This was in line with expectations

More information

ASEAN Geographic Focus and Sector Opportunities

ASEAN Geographic Focus and Sector Opportunities ASEAN Geographic Focus and Sector Opportunities 18/12/212 Attractive Southeast Asia Macro Outlook GDP Growth Expected to Remain Robust Going Forward Real GDP Growth Rates 1-11 ( ) Contribution to Global

More information

Labour Market Research Engineering Professions Victoria April 2016

Labour Market Research Engineering Professions Victoria April 2016 ISSN: 222-5278 Labour Market Research Engineering Professions Victoria April 216 Occupations in cluster Rating 2332-11,12,14,15 Civil Engineering Professionals (exc. Quantity Surveyor) Recruitment Difficulty

More information

Housing Affordability Report

Housing Affordability Report Housing Affordability Report JUNE QUARTER Stable market but no reprieve for first home Housing affordability remained relatively steady in the June quarter of with the proportion of income required to

More information

contents australia s new world city 4 a growing city 6 a connected city 9 an innovative city 10 a lifestyle city 12 brisbane quick stats 15

contents australia s new world city 4 a growing city 6 a connected city 9 an innovative city 10 a lifestyle city 12 brisbane quick stats 15 contents australia s new world city 4 a growing city 6 a connected city 9 an innovative city 10 a lifestyle city 12 brisbane quick stats 15 brisbane australia s new world city Australia is consistently

More information

Australia's foreign investment relationship with partner countries

Australia's foreign investment relationship with partner countries Parliament of Australia Department of Parliamentary Services Parliamentary Library Information, analysis and advice for the Parliament BACKGROUND NOTE www.aph.gov.au/library Australia's foreign investment

More information

Executive summary. Cross-border mobility of students is by far the major form of cross-border post-secondary education.

Executive summary. Cross-border mobility of students is by far the major form of cross-border post-secondary education. ISBN 92-64-01504-3 Internationalisation and Trade in Higher Education Opportunities and Challenges OECD 2004 Executive summary In the last decade, new forms of cross-border post-secondary education have

More information

FOREIGN INVESTMENT INTO AUSTRALIA

FOREIGN INVESTMENT INTO AUSTRALIA FOREIGN INVESTMENT INTO AUSTRALIA Foreign Investment and Trade Policy Division 1 Treasury Working Paper 2 2016-01 Date created: January 2016 Date modified: January 2016 1 Adam McKissack and Jessica Xu,

More information

NET INTERNATIONAL MIGRATION

NET INTERNATIONAL MIGRATION II. NET INTERNATIONAL MIGRATION A. GLOBAL TRENDS During the period 195-21, the developed regions experienced population gains from positive net international migration while the developing regions were

More information

Daymark Community Monitor The special case of overseas investment from China: time to address public concerns

Daymark Community Monitor The special case of overseas investment from China: time to address public concerns Daymark Community Monitor The special case of overseas investment from China: time to address public concerns November 2015 Executive Summary The issue this Daymark Community Monitor seeks to understand

More information

Housing Turnover and First-home Buyers

Housing Turnover and First-home Buyers Housing Turnover and First-home Buyers Paul Bloxham, Daisy McGregor and Ewan Rankin* While housing turnover varies over time, on average, around 6 per cent of the housing stock, or around dwellings, change

More information

DRAFT SCHOOL TEACHER DEMAND AND SUPPLY PRIMARY AND SECONDARY. prepared by

DRAFT SCHOOL TEACHER DEMAND AND SUPPLY PRIMARY AND SECONDARY. prepared by SCHOOL TEACHER DEMAND AND SUPPLY PRIMARY AND SECONDARY prepared by National Teacher Supply and Demand Working Party Conference of Education System Chief Executive Officers July 1998 Disclaimer The contents

More information

GLOBAL TRENDS IN HIGHER EDUCATION. David Stockley

GLOBAL TRENDS IN HIGHER EDUCATION. David Stockley GLOBAL TRENDS IN HIGHER EDUCATION David Stockley Beijing May 2011 KEY TRENDS 1. Changing gglobal demographics 2. Increasing global student mobility 3. Higher education as a global market 4. Declining public

More information

2006 Census Bulletin #6 Immigration and Cultural Diversity

2006 Census Bulletin #6 Immigration and Cultural Diversity 2006 Census Bulletin #6 Immigration and Cultural Diversity Introduction This bulletin provides an overview of changes in the population profile of Metro Vancouver based on data captured in the 2006 Census.

More information

Housing demand in the ACT Findings from demographic and economic projections and economic

Housing demand in the ACT Findings from demographic and economic projections and economic Households ('s) Proportion of the population A consortium of peak community sector organisations has been formed to research housing and homelessness issues in the ACT. The consortium is comprised of ACT

More information

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 SINGAPORE REPORT

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 SINGAPORE REPORT THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 SINGAPORE REPORT 2 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 SINGAPORE REPORT LEGAL NOTICE CPA Australia Ltd ( CPA Australia )

More information

Labour Market Brief September Quarter 2015

Labour Market Brief September Quarter 2015 Labour Market Brief September Quarter 2015 Key Message Overall the labour market continues to remain relatively tight, with both full time and part time employment continuing to increase since the beginning

More information

OLDER AUSTRALIAN FACT SHEET

OLDER AUSTRALIAN FACT SHEET OLDER AUSTRALIAN FACT SHEET A STATISTICAL PORTRAIT OF THE OLDER AUSTRALIAN There is a tendency to look at the older population as a homogenous group, imagining that those over the age of sixty-five are

More information

REGISTERED NURSE: OCCUPATIONAL SKILL SHORTAGE ASSESSMENT

REGISTERED NURSE: OCCUPATIONAL SKILL SHORTAGE ASSESSMENT NOVEMBER 2005 REGISTERED NURSE: OCCUPATIONAL SKILL SHORTAGE ASSESSMENT Current Situation: Recruitment and retention difficulties Short-term Outlook: Recruitment and retention difficulties (improving) 1

More information

Pulse. Sydney CBD Office Conversions: Manhattan a template for Sydney? Research Report May 2014. The economic backdrop

Pulse. Sydney CBD Office Conversions: Manhattan a template for Sydney? Research Report May 2014. The economic backdrop Pulse Research Report May 2014 Sydney CBD Office Conversions: Manhattan a template for Sydney? Conversion of office space to residential uses is an emerging theme across Australia s CBD markets. The Sydney

More information

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Research Report DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Second Quarter 2013 Economic Outlook Business and consumer spending to drive recovery Quantitative easing beginning its expected unwinding

More information

MEDIA RELEASE. (For immediate release) 18 July Dallas Fort Worth / Sydney New Fringe Starter Housing Cost Comparison

MEDIA RELEASE. (For immediate release) 18 July Dallas Fort Worth / Sydney New Fringe Starter Housing Cost Comparison MEDIA RELEASE (For immediate release) 18 July 2007 Dallas Fort Worth / Sydney New Fringe Starter Housing Cost Comparison Land Supply is the Issue - Dermographia The 3rd Annual Demographia International

More information

House price to income ratio... 2. Recent commentary on Australia s ratio and market... 2. Data inputs and analysis... 3. Results...

House price to income ratio... 2. Recent commentary on Australia s ratio and market... 2. Data inputs and analysis... 3. Results... House Price to Income Ratios in Australia December 2010 House price to income ratio... 2 Recent commentary on Australia s ratio and market... 2 Data inputs and analysis... 3 Results... 4 House price to

More information

Housing Market Overview Prepared for CitiBank. January 2014

Housing Market Overview Prepared for CitiBank. January 2014 Prepared for CitiBank January 214 Combined capital cities Combined capital city home values increased by 2.8% over the final quarter of 213 according to the RP Data-Rismark Home Value Index. Home values

More information