NT: Darwin continues to be only city in nation with falling house prices

The data continues to deteriorate for Australia’s army of negatively geared landlords, with the Australian Bureau of Statistics (ABS) reporting that capital city property rents declined by a record 1.3% over the June quarter and by 1.2% over the year: Most notably, rents fell by 2.0% in Sydney and 1.1% in Melbourne over the June quarter. Given immigration has collapsed and both cities still have an avalanche of supply in the pipeline (see next chart), rents should continue to fall: Get details at:x Australian property rents suffer biggest ever fall... The data continues to deteriorate for Australia’s army of negatively geared landlords, with the Australian Bureau of Statistics (ABS) reporting that capital city property rents declined by a record ... www.macrobusiness.com.au

Hi everyone, Needed a review of Schofields suburb in terms of travel to the city? Do the nearby stations have car or bike parking spots that can save time for local commute? I am travelling to the city everyday for work so wanted to know if anybody has experience of the commute. Thanks!

In the year to June 2020, home values rose by 9.0% at the 5-city level, driven by Sydney (+13.3%) and Melbourne (+10.2%), whereas Perth was still in the red (-2.5%): Australian housing correction is clearly underway. The big test will come in October if emergency income support and mortgage freezes are abruptly unwound. Get details at: x Aussie property values dive 0.9% in June - MacroBu... CoreLogic’s dwelling value results for June are out at the 5-city level, with values falling 0.85% over the month amid universal declines: It was the second consecutive monthly decline:There are 752... www.macrobusiness.com.au

Crowds watched on as bidders battled for properties on Saturday, driving a 64 per cent preliminary clearance rate from 258 results by realestate.com.au. About 400 properties went under the hammer, making it Melbourne’s biggest auction weekend since the coronavirus ban on public auctions was implemented in March. The ban has since been lifted in favour of capping crowds at 20, plus real estate agency staff. Meanwhile, no spectators are allowed to attend AFL matches in Victoria. And it showed, with agents and buyers’ advocates reporting weekend crowds frequently reached their limit as quality stock flew off the shelves. Source: x Melbourne auctions get bigger crowds than AFL game... More spectators were on hand for Melbourne auctions than AFL matches over the weekend. And despite the biggest sales list since March, the maxed-out crowds saw plenty of maxed-out results.  www.realestate.com.au

Property values across the state and territory capitals fell 0.5% last month, the first decline since June 2019, according to CoreLogic Inc. data released Monday. Amongst the biggest falls were Melbourne, where prices dropped 0.9%, and Perth, which was down 0.6%. “Eventually government stimulus will wind back and borrower repayment holidays will expire,” said Tim Lawless, head of research at CoreLogic. “In the absence of these policies, housing values could come under some additional downwards pressure if economic conditions haven’t picked up towards the end of the year.” The government is planning to announce a fresh stimulus plan for the building industry, which employs about 10% of the nation’s workforce. Source: https://www.bloomberg.com/news/articles/2020-06-01/australia-house-prices-fall-as-shutdowns-hit-property-marketx Bloomberg - Are you a robot? Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy. www.bloomberg.com

Propertyology’s head of research, Simon Pressley, has revealed that Canberra ranks first amongst Australia’s eight capital cities. “Canberra’s economy was already strong before the germ arrived. And with approximately 100,000 of its 213,000 workforce in the public sector, it will be significantly sheltered throughout the COVID job lockdown period,”  “Brisbane’s property market is in second spot. Propertyology has been publicly critical of Brisbane, and we remain unchanged from our long-held view that Brisbane’s soft private sector job growth is an important missing link for otherwise solid fundamentals,” Mr Pressley said. Source: x Australia’s top capital city revealed Despite the majority of the focus being on Sydney and Melbourne, a property researcher has revealed that neither city gives investors the best bang for their buck. www.smartpropertyinvestment.com.au