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Australia's boom, bust, boom, bust rents

MacroBusiness
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From CoreLogic today:
The rental market dynamic has changed substantially through COVID but there are some early signs that weakness across the unit sector is starting to level out, if not turn around.
Rental demand has transitioned towards detached and lower density housing markets since the pandemic, partly reflecting the disruption to rental demand from overseas migration, but also the stress of changed working conditions, caused by COVID restrictions, in industry sectors that are traditionally more aligned with rental demand. Additionally, with more people working from home, demand for larger housing options has lifted.
Unit rents in Melbourne and Sydney are down 7.8% and 5.6% respectively over the past year, but in some positive news for landlords, the rate of decline is easing across these markets; in fact Sydney unit rents posted the first month-on-month rise in January (+0.8%) since March last year and Melbou ....

Western Australia , New South Wales , From Corelogic , மேற்கு ஆஸ்திரேலியா , புதியது தெற்கு வேல்ஸ் ,

The state of stamp duty for Australian property

MacroBusiness
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From CoreLogic’s head of research, Eliza Owen:
In 2020, COVID-19 mildly impacted Australian housing prices, but created volatility in transaction activity. These factors have drawn renewed scrutiny of stamp duty on residential property, and may have influenced some of the timely reform and discounting in stamp duties over the year.
What’s wrong with stamp duty?
There is broad agreement among academics, economists and advocacy groups across the property industry that stamp duty is a less than optimal property tax.
The main critique of stamp duty is that it is an inefficient tax. As noted previously, modelling has shown stamp duty on residential property is one of the most expensive taxes, costing the economy over 70 cents for every dollar raised in revenue. ....

Eliza Owen , From Corelogic , South Australia , எலிசா ஓவந் , தெற்கு ஆஸ்திரேலியா ,

Calculated Risk: CoreLogic: 1.6 Million Homes with Negative Equity in Q3 2020

A top ranked economics and finance blog with a focus on the housing market ....

Frank Nothaft , From Corelogic , Home Equity Reaches Record Highs , Homeowners Gained Over , Home Equity Report , வீடு பங்கு ரீசஸ் பதிவு அதிகபட்சம் , வீடு பங்கு அறிக்கை ,