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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Residential dwelling growth recorded pre-global outbreak

By Cameron Micallef

March 19 2020
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Residential dwelling growth recorded pre-global outbreak

By Cameron Micallef
March 19 2020

Residential dwelling values increased in all but one capital city in the three months till December, official records have shown.

Residential dwelling growth recorded pre-global outbreak

By Cameron Micallef

March 19 2020
Share

Residential dwelling values increased in all but one capital city in the three months till December, official records have shown.

The Australian Bureau of Statistics (ABS) has released its Residential Property Price Index, noting that home values increased by 3.9 per cent across all capitals based on a weighted average.

The sharpest reported increase was in Melbourne (5.2 per cent), followed by Sydney (4.7 per cent), Canberra (3.1 per cent), Hobart (2.7 per cent), Brisbane (1.8 per cent), Adelaide (1.4 per cent) and Perth (1.1 per cent).

Darwin was the only major capital to record a decline in residential property prices, down 0.3 per cent over the same period.

ABS chief economist Bruce Hockman said, “While Australia’s two largest cities continued to lead the rise in property prices, the turnaround in the housing market has spread to all other cities except Darwin.”

Residential property prices rose 2.5 per cent in the year to December quarter 2019, with rises in all capital cities except Perth and Darwin.

“Results are consistent with other housing market indicators, including new lending commitments to households and sales transactions, which have been rising over several months,” Mr Hockman said.

However, the pick-up prices preceded the coronavirus (COVID-19) outbreak, which has posed a significant threat to the domestic and global economy.

Some analysts, including CoreLogic head of research Tim Lawless, have warned that the outbreak could stunt price growth amid fears of a looming recession.

Mr Lawless observed: “A more significant downturn in consumer sentiment related to the coronavirus outbreak could become a determining factor that impacts the market over coming months.

“While housing demand is now relatively insulated from a downturn in foreign buyers, the economic impact on key export sectors such as education, tourism and commodities [is] likely to result in weaker economic conditions and lower consumer sentiment.

“Consumer sentiment readings are already low, and a further deterioration could see housing market activity start to slow.”

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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