PROPERTY

We invited Treasury representatives from four non-bank financial institutions and one UK-based asset manager – Liberty Financial, La Trobe Financial and Resimac Group in Australia and Kensington Group and TwentyFour Asset Management in the UK – to an International Round Table to discuss the opportunities and challenges in their respective mortgage and securitisation sectors.

Australian dwelling values fell half a percent last month as the pace of home value declines continued to ease.

Overall market sentiment (measured by NAB’s Commercial Property Index) fell 11 points to -2 in Q1 2019 – its first negative read in over 4 years.

Deterioration in conditions in most states, with current momentum negative. Household sector weakness evident, investment still ok (outside mining), while agri. facing easing prices and needs rain. Housing sector downturn, population growth centred on the eastern states, agricultural prices easing.

Australia recently experienced one of its largest booms on record in residential investment, driven by new construction as renovations to existing homes inexplicably languished. The Weekly analyses.

NAB’s view is that prices will decline further over the next year or so – led by further declines in Sydney and Melbourne. We also see the adjustment continuing in an orderly manner, with prices remaining well up on 5 years ago.

While the pace of falls has slowed in March, the scope of the downturn has become more geographically widespread.

The Weekly explores falling house prices – how do they compare with history and international experience?

Just what did Australia think of the Federal Budget? From industry bodies to media, we count down 10 of the most interesting reactions.