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Housing prices in the world’s most sought-after cities are slowing down after years of record growth. Data from The Economist suggests that property prices could be reaching a turning point as the average rate of house price increase across 22 cities slowed to 4.7% annually in the first quarter of 2018, down from 6.2% a year ago. #Housingpricetrend #Housingboomend
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Demand for housing loans continues to weaken as investors have been forced to pull back from the Australian property market. Investor home loan commitments fell to $10.4 billion in June 2018, a reduction of 18.1% from a year ago and 2.7% from the previous month. It was the lowest monthly total in almost five years and could signal further trouble for house prices, which have already fallen 1.6% in the year to July 2018. #slowinginvestoractivity #housingdemanddip #propertymarketdecline

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Westpac and its subsidiaries Bank of Melbourne, St.George Bank and Bank SA have announced they will no longer lend to self-managed superannuation fund (SMSF) property investors. This has occurred as the surge in SMSF borrowing – and its risks – comes under greater scrutiny.#SMSFlending
#Bankswithdraw
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Mortgage interest rates are going up as lenders struggle to absorb their rising funding costs, which partly drive the rates on loans. Despite no change in the official cash rate as of July 2018, smaller lenders have started hiking interest rates on home loans – and the major banks are expected to do the same soon. #raterise #fundingcostsurge

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Australia’s home values fell for the ninth consecutive month in June and are forecast to decline for the rest of 2018 and throughout 2019, driven by tightening credit conditions. Potential rate hikes from the central bank in the second half of 2019 could also lead to further pressure on property prices.#Australianhousingprices #tightercreditconditions #homevalues

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The property boom has once again propelled developers to The Australian Financial Review 2018 Rich List. Despite a slowdown in the property market, real estate tycoons dominate the list, with 51 of Australia’s 200 wealthiest acquiring most of their fortunes in the property sector.

Together, property rich listers have a combined wealth of $86.2 billion. Harry Triguboff, Managing Director of Meriton, leads this group. He is second on the Rich List, with a fortune of $12.77 billion, up from $11.45 billion in 2017. #propertyrichlist #propertymagnates #propertyboom

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The foreign buyer boom is over, and we may not witness a repeat of the activity seen from 2012 to 2017, says a recent UBS report. This slowdown is expected to add to the woes of the property industry, which has already faced pressure from sluggish housing activity in major Australian cities and tighter lending conditions.

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Mortgage brokers may see major changes to their pay model as pressure to limit their commissions grows. A regulatory change to their remuneration could mean capping their commissions or the introduction of a flat-fee model. https://buff.ly/2z7S3DR #mortgagebrokers #pay #remuneration #propertymarket
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Large Australian businesses in industries such as mining and agriculture have benefited enormously from China’s growth. However, smaller Australian businesses looking to expand should also consider selling goods and services to China. https://buff.ly/2lidwjB #China #Australia #SmallBusinesses #Investing
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If your small to medium-sized enterprise (SME) has performed solidly in recent years and you want that success to continue, you might consider budgeting for an increase in wages. That’s our conclusion after reading that an increasing number of SMEs are having trouble finding suitable people to fill jobs. That’s going to put pressure on wages, if it hasn’t already. https://buff.ly/2GKaigV
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