Luke Graham

Growth in new home loans indicates property upswing is underway

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Last week, the Australian Bureau of Statistics (ABS) released updated figures of monthly new housing loan commitments. Figures have continued to trend upward since a six-year low was reached in January 2019. Over the course of 2019, occurrences such as a federal election upset, reserve bank rate cuts and revised regulatory conditions have markedly improved property market sentiment in many parts of Australia. The amount of money borrowed for new home loans in December 2019 was resultantly 49 percent higher than the January 2019 trough.

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Luke Graham

Melbourne’s Renaissance: the making of a global powerhouse

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In the mid-19th century, gold was discovered in what is now known as the Victorian goldfields. In the coming years, the young British colony at the bottom of the world would endure its infamous gold rush. This would leave a lasting legacy on Australia’s national identity, including events such as Melbourne’s rise to rival Sydney as a commercial powerhouse, as well as the Eureka Stockade. During this era, Melbourne was rumoured to be the world’s wealthiest city, overtaking established behemoth cities such as London, New York and Paris. The indulgent architecture of the City of Melbourne is one of the few remaining visible relics of this time.

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Luke Graham

Strengthening performance in inner-Brisbane following reduced supply

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Data from various sources indicates that inner-Brisbane suburbs are showing stronger signs of performance into 2020. Australia’s third-largest city experienced a high level of anticipated demand for new housing as major infrastructure projects drove investment in the area. Some parts of Brisbane, particularly inner-city apartment markets, experienced a period of market volatility as a spike in residential property supply influenced sensationalist commentary and bizarre forecasts. This further fuelled irrational investor activity such as premature resales.

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Luke Graham

Property market hits the ground running in 2020

Luke GrahamLeave a comment

We are only a few weeks into 2020, but our predictions about a strong start to the year are already beginning to materialise. REA reports a further hike in New South Wales’ auction clearance rate last weekend, now at 73 percent from an already-promising level around 70 percent at the end of 2019. Victoria and Queensland still have a little catching up to do on this metric, reporting 57 percent and 50 percent respectively.

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Luke Graham

Why sell an investment property when it costs nothing to hold?

Luke GrahamLeave a comment

In 2019, Blue Wealth Property celebrated our 10th anniversary. In an ideal world, every one of the hundreds of properties we’ve recommended over this time would still be held by our clients. The property market has changed a whole lot since we started. Australia skimmed by the global financial crisis and its aftermath, a minerals boom and contraction, as well as multiple market booms, stagnations and corrections across the country. The RBA cash rate plummeted from 7.25 per cent to just 0.75 per cent. There have been changes to the construction industry, banking and finance, as well as our very own research model. The Australian population grew by 18 per cent, from 21.7 million to 25.6 million.

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