All the good news coming out now

[kincella]

I copied my posts I made on the ASF....to inspire others to participate in this site a bit more....3 posts combined into one here...all good news
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Building rebound could prevent a recessionAUSTRALIA'S largest home loan broker says Rudd's first home buyer grant has sparked a building rebound that could prevent a recession.

Mortgage Choice chief executive Paul Lahiff said more than $8 billion worth of home lending had been completed by the end of January - and he believed more than $2 billion of it was to fund purchases of new houses.
"We are experiencing incredible growth in activity," Mr Lahiff told BusinessDaily.

"I suspect the multiplier effects in the economy for suppliers of building materials will start to show up in official economic data for the March and June quarters."

Home loan brokers are among the first intermediaries to discern imminent changes in home construction activity because they are a first port of call for people planning to build.
Mr Lahiff said his company's franchised network saw continued record growth throughout February, with more than 25 per cent of all brokered loans being for new dwellings.

http://www.news.com.au/heraldsun/sto...63-664,00.html

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Nsw rents rise 14% and Qld house prices small rise
more stats that confirm what the bulls have been saying....and the opposite to what the bears say.....
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rents rose in NSW by 11% last year.....
and housing in Qld grew.....it did not decline.....funny thing about QLD, its the only state where the population is greater in the regional areas, not the cities...the opposite to the rest of OZ

extract.......
The latest housing figures for Queensland, meanwhile, showed an increase in median house prices in the December quarter in the state's coastal and southern regions.

The Real Estate Institute of Queensland (REIQ) statistics showed that regional centres from Bundaberg to Townsville recorded rises of between 1.5 to 2.9 per cent over the December quarter, while in southern regional Queensland the Southern Downs, the Scenic Rim and Dalby recorded growth of between 4.2 to 6.7 per cent.

The southeast experienced small declines in median house prices which the REIQ attributed to an increase in affordable house sales as first-home buyers returned to the market.
http://www.news.com.au/business/stor...-31037,00.html

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Victoria to fix 10,000 public houses, and build 20,000 new public houses

:)The good news just keeeps coming.
I find this hard to believe....talk about 2500 uninhabitable houses...and then 10,000 that would otherwise be lost......
and building another 20,000 new public houses ....assume aust wide ? not just Vic

**good news for tradies and builders though...some will keep their jobs...or get new ones.....................................

At the time, the Government said the money would repair 2500 properties nationally that were uninhabited or would be lost to public housing. But it has now approved proposals to upgrade more than 10,000 properties nationally, which would otherwise be lost, while a further 37,000 will receive minor repairs.

Victoria will receive $49.6 million this financial year and a further $49.6 million next year, which will pay for major repairs on more than 1600 properties that would otherwise be lost, and minor improvements to about 4000 other properties.

Ms Plibersek said state housing authorities would be able to start contracting tradespeople and builders immediately. The stimulus package also included $6 billion for 20,000 new public housing dwellings.

http://www.theage.com.au/national/vi...0308-8sg4.html

[kincella]

missed this one on Sat 7th....
just more good news for the positive ones here

FIRST home buyers are being being forced to buy a record distance from the city as low interest rates and higher first homeowner grants push up prices in once affordable suburbs.

Only 316 of Melbourne's 2720 suburbs and towns have a median price below the average first home buyer's budget of $277,000, new figures released by home seeker website Our Home Sweet Home.

"Interest in properties in the $250,000 to $350,000 bracket is intense, with demand often outstripping supply, fuelling bidding wars in some areas," said the firm's chief executive, Peter Boehm.


--------------------------------------------------------------------------------
Full list: Melbourne's affordable suburbs
http://www.news.com.au/heraldsun/fil...blesuburbs.pdf


http://www.news.com.au/heraldsun/sto...7-2862,00.html

[Beej]

But wait there's more!

http://business.smh.com.au/business/rate-cuts-spur-firsthome-buyers-20090309-8stj.html


Rate cuts spur first-home buyers
March 9, 2009 - 11:52AM

Three-quarters of first-home buyers are planning to buy a house as lower interest rates and cheaper dwellings make their dream more affordable, a survey says.

The 2009 Mortgage Choice survey of 1012 first homebuyers shows 76% of respondents currently want to purchase a house, up from 54% a year before, with 16% intending to buy a flat.

.....



Cheers,

Beej

[kincella]

beej...and we have hundreds of bears on the other site...all have the same dire predictions......they have no faith or confidence...
no wonder they keep missing out !
cheers

[kincella]

wbc set to topple the nab as the biggest lender for sme's....and planning on employing a further 300 business bankers.....
and what is required for an sme to borrow ????...you guessed it right if you said resi props.....

resi props are the backbone of the country and small business...the banks require that house as security...
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extract

Westpac, in the meantime, had set no internal limit on its SME lending, after extending $15 billion to the segment in the 2008 calender year.

This compared to recent commitments by CBA and ANZ to lend the same amount as they did last year -- $12 billion and $8billion respectively.

The SME segment was hotly contested because it tended to recover more quickly than large corporations from a recession, Mr Hanlon said.

"The companies tend to be more nimble, and the people running them are more entrepreneurial," he said.

"It's definitely a big opportunity at the moment, one of Westpac's top three priorities, because at some point the economy will turn and start picking up."

Late last year, Westpac announced plans to hire a further 300 business bankers, and add more business banking centres.

NAB is adding 175 business lenders.

http://www.theaustralian.news.com.au/business/story/0,28124,25168126-643,00.html

[kincella]

some of us will like this news and some will not...so there is a bit here for everyone.....................

now before you get too excited that the fed govt will do anything about the shortage.......there was a national housing review commissioned....oh about 8 years ago...could be wrong on the date...was about the time the GST was introduced....I put in my 2 cents worth at the time...............and guess what has happend since then..nothing zilch, zit..

in fact the state govts have made the situation even worse...and local councils...well I had a problem with them....could the birds still fly in a straight line past my house ????? and they held it up for about 4 months....while they thought it through........

here is the extract........................

There's plenty of land to build upon but that's unlikely to stop housing shortfalls and prices from skyrocketing in the next 20 years, a new report shows.

In a report commissioned by the federal government, the National Housing Supply Council has confirmed there is plenty of land available for development on the fringes of Australia's major cities.

But without significant government and industry intervention the nation's housing crisis could increase tenfold by 2028, the report said.

In 2008, the housing shortfall was about 85,000 dwellings.

In three years' time the number was expected to reach 203,000 and hit 431,000 by 2028.

http://news.theage.com.au/breaking-news-national/housing-shortfall-prices-to-skyrocket-20090311-8uz1.html

[bluelabel]

In 2008, the housing shortfall was about 85,000 dwellings.

In three years' time the number was expected to reach 203,000 and hit 431,000 by 2028.

So here's my investment strategy for the next 20 odd years. Thanks Kincella.:thumbs:

:bier:

blue

[kincella]

Hi Blue,
do you mean you will invest in housing ????

thought I would remind people of some important differences in our prop market....
extract.......................................
*****Urbanisation or the share of their population living in their largest cities as measured by the so-called “Zipf curve” (very high in Australia but considerably lower in the US, UK, Russia, Japan, India, Germany and China).

These differences include their:

– Relative population growth rates (very high in Australia, but much lower in the US (projected to be less than half Australia’s rate) and UK (currently less than half Australia’s rate) and negative in Japan);

– Mortgage default rates — the 90 day default rate on Australian home loans is about 15 and 30 per cent of the level of equivalent default rates on US and UK loans despite historically higher interest rates;

– Tax treatment of housing (in the US, for example, capital gains tax is levied on owner-occupied housing while mortgage interest repayments are tax deductible; neither applies to Australia).

– Size of their public housing markets (the public housing market share in the UK is far larger than Australia, which in turn has a much bigger private rental market).

– Rates of home ownership (54 per cent in the Netherlands, 42 per cent in Germany, and 35 per cent in Switzerland, but about 70 per cent in Australia).

– Responsiveness of housing supply to changes in demand (low in very supply-constrained countries such as Australia, but higher in many countries such as the US, which has had a problem of excess supply

http://www.businessspectator.com.au/bs.nsf/Article/Demographia-Dogma-$pd20090129-NQTPP?OpenDocument&src=mp

[kincella]

Some suburbs that have risen almost 50% last year

oh dear, its not all doom and gloom, well not for every body....

hehehehehehe
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They included the exclusive Sydney harbourside suburb of McMahons Point, where house prices jumped 47.4per cent to a median price of $1.675million in the 12-month period.

Greenwich had a similar 49.8 per cent rise in unit prices to $490,000, giving the north shore suburb the distinction of having Australia's largest price increase.

[/URL][url]http://www.theaustralian.news.com.au/business/story/0,28124,25242049-25658,00.html (http://www.theaustralian.news.com.au...-25658,00.html)
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Property Investor in Commercial and Residential. I hold for 10 years or the mv reaches my sell figure.