Despite the low success rate, governments continue to offer small sums of money to first-time buyers and wonder why it never works. Property guru Terry Ryder of Property Observer explains.
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FIRST HOME OWNERS GRANT
Is it any wonder first-home buyers baulk at what’s on offer?
Regardless of the accuracy of the Demographia report, Australia’s housing market is definitely unaffordable for those trying to get into it. Analyst Catherine Cashmore explains why.
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NSW budget’s complex consequences for residential property
It has taken a few days for the immediate impact of the NSW budget housing initiatives to sink in, writes Jonathan Chancellor of Property Observer.
READ MOREAfter-effects of GFC disaster continue to emerge
Governments have a habit of meddling with things. This is largely due to the political imperative of being seen to be doing something to fix economic problems.
READ MORERudd poll dancing to a different tune by trying too hard
Kevin Rudd is learning a difficult lesson, not only politics, but in popularity. That is: if you try too hard to be liked, you almost certainly won’t be.
READ MOREFirst homes: young buyers continue to flock to the market
Those who thought that the gradual reduction in the first home-owner’s grant in September would cool the first home-buyer market have, for the time being, been proved mistaken.
READ MOREBig lie theory explains how the bubble inflates
Why are seemingly rational people paying so much more for property than they did even as recently at 10 years ago? They fall for the “property lie”: the myth that property “never falls in value” and will be “more expensive next year”.
READ MORESpending borrowed monies leads to false bravado
If you were to believe world stock markets, the recession is drawing to a close, with the wisdom of government spending and global monetary easing spurring the world to another economic recovery. But the markets have long proven to be an unfaithful talisman.
READ MOREKeen on Keane: the great population overhang story
On Monday, Bernard Keane took economist Steve Keen to task over his call that property prices will fall next year. Today, Keen has his right of reply.
READ MOREGreat Australian dream still sucking them in
The latest housing finance figures confirm there’s still solid demand for housing finance from investors and owner-occupiers.
READ MOREHousing: the market continues to astound
The most obvious problem with the first-home-owner’s grant is that it doesn’t actually benefit home buyers, since most recipients of the grant will probably be in competition with each other.
READ MOREAussie mateship: buying homes together
Okay, so obviously the First Home Owners Grant just pushes up the price of real estate, but if you are still interested in cashing in on it, consider buying a home with a friend. Just pay attention to the legal nitty gritty.
READ MOREHousing is overpriced, Swan is making it so
As a treasurer, Wayne Swan makes a fine politician. In a free-market economy, it is not the role of the government to prop up over-priced assets — especially an asset as critical to millions of Australians as housing, says Adam Schwab.
READ MOREBuilding approvals boom amid “bubble” fears
The ABS released figures showing that building approvals bounced back strong in June after May’s one off plunge. Just don’t mention the housing bubble.
READ MORECrikey cage match: the truth about house prices
The crystal ball gazing over house prices continues to twist and turn with two veterans of the genre going head-to-head. House prices will fall, argues Adam Schwab. Are you kidding me? counters Rismark’s Christopher Joye.
READ MOREAre we paying too much for the Australian dream?
In one of the more remarkable occurrences, residential property, despite macroeconomic indicators to the contrary, has been an incredibly resilient asset class this year. But that can’t last, argues Adam Schwab.
READ MOREBIS Shrapnel’s property confidence is … BS
When the First Home Owner’s Grant falls away and if interest rates return to 7-8%, it is a more logical response that house prices will fall in the coming years, rather than rise.
READ MOREABS figures show the building boom is alive and growing
The 4.25% cut in interest rates and the first home buyer/builders grant continues to feed the rebound in home construction.
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The results are in: Labor’s stimulus worked
The Government targeted retail and construction, two of the biggest-employing sectors, and bombed them with cash, and it has worked.
READ MOREThe FHOG: a band-aid over a gaping wound
The latest RP Data-Rismark property survey has unleashed a predictable bout of optimism regarding the future of the Australian property market.
READ MORERudd persists with first home buyers furphy
The First Home Owners’ Grant is a policy which significantly inflates the cost of property for first home buyers, and mostly benefits wealthy property investors and developers.
READ MOREStanhope gets his revenge on journos
A tipster tells how ACT Chief Minister Jon Stanhope got his revenge on journos, and what happened to the Royal Vic Institute for the Blind’s assets?
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Building approvals offer glimmer of hope
Despite the sharp fall in home prices in the eight major capitals in the March quarter, there’s still demand for new home loans.
READ MOREFirst home owners grant must go
The first home buyer;s boost was the worst thing to ever happen to first home buyers.
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Crikey Counterpoint: the Australian property market
Australia’s residential property market delivered a resilient performance during the first quarter, with the RP Data-Rismark National Dwelling Value Index rising 1.6%, writes Christopher Joye. Poppycock, says Adam Schwab.
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