ANZ chief: Debate needed over property investment

Font size :
ANZ Bank chief calls for debate on property investment
The CEO of the Australian division of ANZ Bank says that he is concerned by obsessive investment in property and suggests that some investors would be better off putting their money into other assets. Paul Chronican says that some investors are acting as though prices will only go up with their optimism fuelled by low interest rates and rising prices. Chronican says that the favorable tax arrangements for those investing in property are also part of the debate that needs to take place. With home loans for non-resident owners rising fast many analysts are becoming concerned of the potential over-exposure of real estate investors and how that could compromise the wider economy.
 
Perth downturn says REIWA
Perth is showing signs of a slowing property market. Preliminary figures from the Real Estate Institute of WA show that the September quarter saw a decline in the growth of sales and house prices. Its president David Airey is predicting a slowdown for the city next year, telling The West Australian that sales turnover is at its lowest rate for two years, listings are up and rents are falling. Other analysts have suggested that the figures are not unusual for the time of year.
 
Sydney sees change in development requirements
As with many major cities in the world Sydney is seeing a shift in the requirements of residents. Increasingly homeowners want to live in inner city complexes which provide affordable housing close to small-scale supermarkets and transit links. Where once people wanted to travel to larger, out-of-town shopping centres and supermarkets they now want to be able to walk to get their groceries. There is also growing demand for property closer to fast transit links to the city center. Brisbane is also following the trend.
 
Brisbane demand pushes flood-affected property prices higher
Brisbane’s suburbs that were badly hit by flood water in 2011 have seemingly recovered not just in terms of rebuilding but in house prices. Reports suggest that the city’s flooded suburbs have recovered faster than expected and have mostly reached prices that are above pre-flood levels. Properties have been repaired in line with new rules to better protect them from future flooding. Experts say the recovery and growth in prices is at a sustainable level rather than the inflated rate seen in some other areas.
 

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

CBA unveils new repayment simulator CBA unveils new repayment simulator

The simulator will show customers the differences between different types of repayments Read more

How to tell when a housing market is cooling How to tell when a housing market is cooling You need to check clearance rates, listings, and the price gap, among other factors ... Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

More mortgage news and articles

Sponsored Links

Tuesday, Sep 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords