Buyer and renters hit slow-mo amid loan crackdown, unaffordability

first_imgAmong homes that found their mark was 71 Withington St, East Brisbane, sold for $607,500 by Jody Green of Place for seller Mervyn Cronin. Picture: Darren England.BUYERS and renters hit slow-mo in April amid the effects of a loan crackdown, housing unaffordability and oversupply in some places.Buyer demand slumped in April nationally (-4.3 per cent), led down by New South Wales (-7.8 per cent) and Queensland (-5.4 per cent), according to the latest REA Group Property Demand Index, out today.Brisbane suburbs that are best for your healthBardon house shortlisted for national awardWhere rental listings have grown over 30 per centREA Group chief economist, Nerida Conisbee, said affordability issues had hit Sydney hard while Queensland was still reeling from oversupply and slow job growth.She said the drop came “as cooling measures put forward by APRA and more expensive and restrictive lending by banks started to cut in. It’s likely that the Easter long weekend and ANZAC Day also had an impact”.“Demand is still well above the same time last year and higher than the previous peak in November 2016. In December 2016, demand also dropped slightly when the banks increased interest rates independently of the RBA however, buyers ploughed back into the market in January and by March we hit another peak in demand.Buyers in southern capitals have hit a slump amid rising unaffordability across Sydney and Melbourne. Picture: Jay Town“It’s impossible to predict if this will happen again and if buyers are purely reacting to the changes. Time will tell as we head into winter.”She expected price growth to begin to moderate in New South Wales though Ms Conisbee did not believe the country’s biggest property market had hit its peak yet.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:47Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:47 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenMonthly Core Index : April00:47Queensland’s problem was vastly different to that of NSW though.“Queensland experienced the second highest drop in buyer demand in April after New South Wales, however demand is still higher than it was 12 months ago,” according to Ms Conisbee.“Rental markets are showing worsening conditions driven by high levels of supply but also relatively slow jobs growth. Rental demand is lower than it was 12 months ago.”The Gold Coast though was a brighter spot than Brisbane.“The situation in Brisbane is very different to on the Gold Coast. Gold Coast suburbs continue to see high levels of demand from buyers and renters due to lower levels of supply, the Commonwealth Games and other spending on infrastructure supporting jobs growth.”QLD BUYER DEMAND:All dwellings:-5.4 per cent April+3.2 per cent Year-on-yearHouses:More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours ago-5.9 per cent April+3.2 per cent YOYUnits:-4.9 per cent April+6.6 per cent YOYQLD RENTAL DEMAND:All dwellings: -3.7 per cent April-9.5 per cent YOYHouses:-3.8 per cent April-11.2 per cent YOYUnits:-3.4 per cent April-4 per cent YOY(Source: REA Group)last_img read more

EU aims to boost investment in small cap, CEE with new indices

first_imgThe European Commission is targeting the development of an equity index family covering all listed companies in the EU, flagging the possibility of the emergence of a “Capital Markets Union asset class”.The aim is to facilitate increased investment in a large pool of companies, including small and medium-sized enterprises (SMEs), in particular in the Baltics and central, eastern and south-eastern Europe.These represented the bulk of companies listed in the EU in recent years, but typically were not included in EU-wide equity indices calculated by international index providers, the Commission said in a tender document for a feasibility study for the creation of a CMU equity index family.In addition, in recent years institutional investors had shifted their attention to larger and more liquid listed companies, to the detriment of smaller listed companies and markets, it said. Classifying certain EU countries as frontier markets prevented institutional investors from being able to allocate to them, the Commission noted, highlighting Bulgaria, Croatia, Estonia, Latvia, Lithuania, Romania, Slovakia, and Slovenia. Credit: Voytek SRiga Stock Exchange in LatviaEstonia, Lithuania, Romania and Slovenia are included in MSCI’s frontier markets index family, while Bulgaria is a standalone index, but based on MSCI’s size and liquidity criteria for frontier markets.“The creation of an EU-wide CMU index could facilitate greater local and foreign capital inflows from a broad range of investors and enhance access to finance for a larger pool of companies, especially SMEs,” said the Commission. “SMEs in all countries and more generally in small capital markets could benefit from such [a] broadly defined and inclusive index.”The possible emergence of a “CMU asset class” could also help overcome different country classifications at EU member state level, the Commission added.US exampleThe Commission cited the Wilshire 5000 Total Market index in the US as a possible example of what the CMU index could look like. The Wilshire 5000 is a market cap-weighted index of all stocks actively traded in the US.The feasibility study should develop the conceptual framework for a CMU index family and assess its market potential, according to the tender document. The market potential assessment should be based on “extensive market research and surveys among relevant institutional investors who should be also tested for the acceptance of the newly designed index”.“The analysis should pay special attention to asset manager institutions who act as opinion leaders for end institutional investors,” added the Commission.The index should comprise companies listed on regulated markets and SMEs listed on growth markets, it said, and there should be sector or thematic sub-indices. These should cover “strategically important areas”, such as fintech or sustainability.The deadline for applications is 8 February and the documents are available here.last_img read more

Offshore Wind Conference 2019: Update NL

first_imgHow will offshore wind play its part in the energy transition? Find out during Offshore Wind Conference 2019. This animation delves into the session Update NL.This session offers an update on the developments in the Dutch offshore wind industry regarding innovations, technology and policy, and is intended for foreign delegates who would like to become updated on the latest in offshore wind in the Netherlands. With a contribution from Keld Bennetsen, Project Director at Vattenfall.Offshore Wind Conference will be taking place on 7 and 8 October 2019 during Offshore Energy 2019 in the Amsterdam RAI, the Netherlands.View the program HERE and secure your seat to find out how offshore wind plays its part in the energy transition.last_img read more