What's your prediction on the Australian Dollar?

[Sprucegoose]

The Aussie is on the cusp of breaking through us94 cents. Good for overseas travelling.

And not good for most of the country

 

[Sprucegoose]

I think that if it doesn't go up it will come down unless it stays the same.

Possibly !!

 

[vet]

Doesn't "all things being equal" mean parity.

 

[Warks]

Wish the Kiwi wasn't doing so well. $NZ1.08 to the $ lately. Did a big trip two years ago and it was around $NZ1.25 which made it rather cheap.

They raised interest rates there to 3.75% last week so their economy is doing well.

 

[whatmeworry]

People in Australia are losing jobs but house prices keep rising. It will be interesting if the RBA will raise rates.

Property prices about to drop without interest rate cut, warns report

 

[drsmithy]

People in Australia are losing jobs but house prices keep rising. It will be interesting if the RBA will raise rates.

Property prices about to drop without interest rate cut, warns report

Interesting ? It'll be a bloodbath.

 

[burmans]

Interesting ? It'll be a bloodbath.

Can't see them making big changes in a hurry!

 

[Cruiser Elite]

Look deeper into the home buyers figures and it sticks out like the proverbial - the significant driver of house prices is in fact Chinese money - % of first home buyers at historic lows - RB board certainly on theirr toes.

 

[marki]

The RBA minutes show a softer stance less optimistic about growth meaning interest rates staying lower for longer. Hence our dollar dipped.
Gold price up wherever there is armed conflict. But down today

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[jetlagger]

Look deeper into the home buyers figures and it sticks out like the proverbial - the significant driver of house prices is in fact Chinese money - % of first home buyers at historic lows - RB board certainly on theirr toes.

Rather ironic mentioning. I was venturing through a 'blue ribbon" real estate suburb of the Gold Coast today with my Singaporean clients when we stumbled across an obvious wealthy mainland China family inspecting a riverfront mansion in the sub AUD 8 million region. Presumably cash buyers as well.
A growing trend in Gold Coast of late.

 

[marki]

Is this what's causing the so called housing bubble? Or are the Chinese going to continue to buy real estate in Oz?


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[jetlagger]

Is this what's causing the so called housing bubble? Or are the Chinese going to continue to buy real estate in Oz?


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Certainly appears that way & very limited restrictions applied &/or being implemented for any purchase.

 

[Awesom Andy]

Even China will have its bubble and buying overseas won't change that. They can drive prices up now, and eventually, some of them may need to sell in a hurry to cover their own backside at home, and we can pick them up for a much more reasonable price. No country can keep on growing forever.

 

[Flashback]

Same thing is happening with London real estate with wealthy foreigners lashing out on property (especially Russians) :shock:

 

[drsmithy]

Look deeper into the home buyers figures and it sticks out like the proverbial - the significant driver of house prices is in fact Chinese money - % of first home buyers at historic lows - RB board certainly on theirr toes.

In the last few years maybe, as dirty money flees China. The impact on certain aspects of the market (high end luxury, tidgy inner-city apartments) would definitely be hit if FIRB were doing their job.

But property prices everywhere have been rising out of any sense or control for two, going on three, decades now, thanks to a) artificial supply constraints, b) easily available credit and c) tax concessions.

Median house price is at around 7x median income. Dual income families are dumping half their incomes into their mortgage. 2/3 of property "investors" are losing money every day in the hopes of capital gain (which is practically the definition of speculation). Complete insanity.

 

[Limewood]

My understanding is foreigners can only buy new not established homes or has that changed?.

 

[whatmeworry]

My understanding is foreigners can only buy new not established homes or has that changed?.

Students I believe can buy existing dwellings. I sure there is a few loopholes.

 

[Warks]

Unbelievable that foreign investors could ever have received the first home buyers' grant! Apparently that's changed in the NSW budget this week.

No Cookies | dailytelegraph.com.au

 

[Alanslegal]

My understanding is foreigners can only buy new not established homes or has that changed?.

FIRB: Real Estate

They can "buy all land and housing that can be used for residential purposes"

 

[amaroo]

Foreigners or Tax? Don't blame foreigners for rising house prices

"As the Centre for International Economics has found, as much as 44 per cent of the price of a new home in Sydney is attributable to explicit and implicit local, state and federal taxes."