GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

Visitors

Articles View Hits
630759

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Denise Brailey

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: Housing price decline is slowing, analysis reveals

Posted by on in ROYAL COMMISSION URGENT
  • Font size: Larger Smaller
  • Hits: 120
  • 0 Comments
  • Print

Housing price decline is slowing, analysis reveals

The Australian 12:00am April 30, 2019

Mackenzie Scott

 

Green shoots may be appearing in the housing market, with signs that credit is loosening as the ­national house prices decline slowed in April, according to preliminary monthly data from property researcher CoreLogic.

The daily Hedonic Home Value Index, which aggregates data from the five largest capitals, has shown the national rate of decline improved in the first 28 days of April. The rate sits at -0.5 per cent this month compared to -0.7 per cent in March.

But it is not all good news, with CoreLogic head of research Tim Lawless warning weak housing conditions are likely to cement downward trends.

“Values aren't falling quite as much as they did the month prior, but we are also seeing more capital cities and regional markets move into a downturn. On one hand we are seeing the rate of decline nationally starting to ease off, but on the other we have seen more regions around the country move into some level of weakness,” he said.

Sydney and Melbourne have led the national improvement, with each city’s declines slowing by about 1 per cent since December. Declines in Sydney have improved from a 1.6 per cent fall in December to -0.6 per cent in April. The fall from peak 2017 prices sat at 13.9 per cent at the end of March, equivalent to $124,739. In Melbourne, declines remain softer at 0.5 per cent in April, compared to a drop of 1.5 per cent in December. Peak to trough declines have also been more modest at 10.3 per cent, or $71,404.

CoreLogic found that, nationally, median dwelling values had fallen 7.4 per cent from the market’s peak, or a drop of about $40,590.

While values were falling, the debt held against homes was unlikely to be dropping at the same pace, causing a loss of wealth for their owners, the researcher said.

The positive was that first-home buyers and other prospective buyers were more able to enter the market, particularly with mortgage rates at their lowest since the 1960s.

Mr Lawless said that an uptick in the ABS housing finance data and a rise in the number of valuations being recorded might suggest that banks were starting to loosen credit.

“I don’t think it is a trend just yet and I wouldn’t be confident in saying housing finance or credit availability has been freed up, but we are seeing some early indicators that that might be the case,” he said.

Brisbane and Adelaide, which had remained fairly insulated from negative market factors, have continued the slide that began last month, down 0.3 per cent and 0.2 per cent respectively.

Perth’s weak housing market also experienced a small improvement, with prices falling 0.4 per cent in April.

Final CoreLogic data for the month of March will be released tomorrow.

 

Last modified on
Rate this blog entry:
0

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Monday, 16 September 2019