18 January 2022
Legitimate! Indonesia has a new capital city called Nusantara
Writer: Editorial Team, CNBC Indonesia
Jakarta, CNBC Indonesia - The Plenary Session of the House of Representatives (DPR) has officially approved the Draft Law (RUU) for the State Capital (IKN) to become a law. The capital of moving to Kalimantan has finally become a reality.
"Does the bill regarding the capital city of this country, all members agree," asked the Chairperson of the Session, Puan Maharani at the DPR Building, Tuesday (18/1/2022)
"Agreed," replied the members present.
The previous IKN Bill meeting began with a special committee meeting with experts ranging from public experts to spatial planning. Then followed by a committee meeting to discuss four things.
The first is related to the status of the IKN, whether it is an authority or a special local government. Second, regarding IKN financing, which is requested so as not to burden the APBN.
Indonesian President Jokowi accompanied by Minister of PUPR Basuki Hadimuljono, and Minister of Defense Prabowo while reviewing the IKN road section (Lukas - Presidential Secretariat Press Bureau) Photo: Indonesian President Jokowi accompanied by Minister of PUPR Basuki Hadimuljono, and Minister of Defense Prabowo while reviewing the IKN road section (Lukas - Biro Presidential Secretariat Press)
Indonesian President Jokowi accompanied by Minister of PUPR Basuki Hadimuljono and Minister of Defense Prabowo while reviewing the IKN section of the road (Lukas - Press Bureau of the Presidential Secretariat)
Third, regarding the master plan or master plan for IKN development. Where the special committee of the DPR hopes that IKN development will not become a stalled project.
Fourth is land. For this cluster, it is requested not to cause problems with the community around IKN, so the Ministry of ATR/BPN must coordinate and go to the field.
The four points of discussion were approved by all members of the special committee of the DPR, DPD and also the government. With some notes from the special committee members and also the DPD RI.
"Thus, we submit the IKN Panja report so that it can be continued in the discussion of decision making at level I in the working meeting at the Special Committee for the IKN Bill," said Deputy Chair of the IKN Panja Saan Mustopa who attended the meeting until dawn this morning.
IKN is not really a new thing. This discourse was taken seriously by Jokowi in 2019, in the annual session of the DPR/MPR. Jokowi said that the capital city would move to East Kalimantan with all the reasons he felt were urgent.
After that, the government began to draft the IKN Bill. The period is quite long. In addition to the very complex discussion, in 2020 Indonesia will be faced with the COVID-19 pandemic. So that all attention cannot be diverted from Covid-19.
However, believe it or not, now moving the capital city is no longer a dream, but a real reality. After the passage of the bill, the government will gradually build a new capital city in North Kalimantan until 2024.
https://www.cnbcindonesia.com/news/20220118133427-4-308348/sah-indonesia-punya-ibu-kota-negara-baru-bernama-nusantara
Jakarta, CNBC Indonesia - The Plenary Session of the House of Representatives (DPR) has officially approved the Draft Law (RUU) for the State Capital (IKN) to become a law. The capital of moving to Kalimantan has finally become a reality.
"Does the bill regarding the capital city of this country, all members agree," asked the Chairperson of the Session, Puan Maharani at the DPR Building, Tuesday (18/1/2022)
"Agreed," replied the members present.
The previous IKN Bill meeting began with a special committee meeting with experts ranging from public experts to spatial planning. Then followed by a committee meeting to discuss four things.
The first is related to the status of the IKN, whether it is an authority or a special local government. Second, regarding IKN financing, which is requested so as not to burden the APBN.
Indonesian President Jokowi accompanied by Minister of PUPR Basuki Hadimuljono, and Minister of Defense Prabowo while reviewing the IKN road section (Lukas - Presidential Secretariat Press Bureau) Photo: Indonesian President Jokowi accompanied by Minister of PUPR Basuki Hadimuljono, and Minister of Defense Prabowo while reviewing the IKN road section (Lukas - Biro Presidential Secretariat Press)
Indonesian President Jokowi accompanied by Minister of PUPR Basuki Hadimuljono and Minister of Defense Prabowo while reviewing the IKN section of the road (Lukas - Press Bureau of the Presidential Secretariat)
Third, regarding the master plan or master plan for IKN development. Where the special committee of the DPR hopes that IKN development will not become a stalled project.
Fourth is land. For this cluster, it is requested not to cause problems with the community around IKN, so the Ministry of ATR/BPN must coordinate and go to the field.
The four points of discussion were approved by all members of the special committee of the DPR, DPD and also the government. With some notes from the special committee members and also the DPD RI.
"Thus, we submit the IKN Panja report so that it can be continued in the discussion of decision making at level I in the working meeting at the Special Committee for the IKN Bill," said Deputy Chair of the IKN Panja Saan Mustopa who attended the meeting until dawn this morning.
IKN is not really a new thing. This discourse was taken seriously by Jokowi in 2019, in the annual session of the DPR/MPR. Jokowi said that the capital city would move to East Kalimantan with all the reasons he felt were urgent.
After that, the government began to draft the IKN Bill. The period is quite long. In addition to the very complex discussion, in 2020 Indonesia will be faced with the COVID-19 pandemic. So that all attention cannot be diverted from Covid-19.
However, believe it or not, now moving the capital city is no longer a dream, but a real reality. After the passage of the bill, the government will gradually build a new capital city in North Kalimantan until 2024.
https://www.cnbcindonesia.com/news/20220118133427-4-308348/sah-indonesia-punya-ibu-kota-negara-baru-bernama-nusantara
10 January 2022
Retail property outlook: Can malls woo digital shoppers with experiences they can't find online?
Writer: Chor Khieng Yuit
The COVID-19 shakeup is only the latest in a series of challenges faced by Singapore’s retail property sector. Money Mind looks at what it will take to attract shoppers back to the malls.
Writer: Chor Khieng Yuit
SINGAPORE: Avid shopper Kelly Chiew has not been to a bricks-and-mortar mall in two years.
The 28-year-old buys everything online – from everyday consumer goods to big ticket items including S,000 worth of renovation items.
Kelly is not alone. More shoppers are going online - and this has accelerated during the COVID-19 pandemic.
According to data from the Urban Redevelopment Authority (URA), retail property prices have been on a general downtrend since the first quarter of 2016.
On the e-commerce end, the proportion of online spend has tripled in the past three years.
This lower footfall is pressuring rentals. Retail rents started falling at the beginning of 2020 and have been declining for seven straight quarters, according to URA data.
Despite this, Cushman & Wakefield’s Wong Xian Yang believes that a retail recovery could come in 2022.
“What will support rents further is a limited supply of new retail space," said Mr Wong, who is Cushman & Wakefield’s head of research in Singapore.
"New retail supply will only come in at about half a million sq ft per annum over the next few years. This compares to about 1 million sq ft from 2016 to 2019. Retail rents could recover by about 1 to 2 per cent, with suburban malls taking the lead.”
SUBURBAN AND CITY FRINGE MALLS
Suburban and city fringe malls have been more resilient during this current downturn.
URA data showed that median rentals for this region have decreased around 12 per cent since the fourth quarter of 2019, compared to a 16 per cent decline for malls in the Orchard area, and a 14 per cent decline for CBD malls.
At the same time, the vacancy rate at suburban retail spaces is also lower than that at the Orchard and downtown core areas.
"Suburban vacancy rates, they are at their lowest in about five years, at about 4.8 per cent as of the third quarter of 2021. This compares to about 8.1 per cent for islandwide vacancy. I mean, to give you some additional context, Orchard, and downtown core vacancy rates remain relatively high at about over 11 per cent as of third quarter of 2021," said Mr Wong.
The drivers are in place for suburban malls to continue to grow.
Once seen as just neighbourhood centres, they have transformed into destination shopping areas with luxury and international brands, said Mr Wong.
The continued adoption of remote working will also support footfall in suburban commercial areas.
However, Mr Wong said Orchard Road remains Singapore’s prime shopping destination, with large international brands still seeing it as the preferred location for their flagship outlets.
https://www.channelnewsasia.com/business/money-mind-retail-property-shopping-malls-consumers-online-2424566?cid=internal_sharetool_androidphone_02022022_cna
The COVID-19 shakeup is only the latest in a series of challenges faced by Singapore’s retail property sector. Money Mind looks at what it will take to attract shoppers back to the malls.
Writer: Chor Khieng Yuit
SINGAPORE: Avid shopper Kelly Chiew has not been to a bricks-and-mortar mall in two years.
The 28-year-old buys everything online – from everyday consumer goods to big ticket items including S,000 worth of renovation items.
Kelly is not alone. More shoppers are going online - and this has accelerated during the COVID-19 pandemic.
According to data from the Urban Redevelopment Authority (URA), retail property prices have been on a general downtrend since the first quarter of 2016.
On the e-commerce end, the proportion of online spend has tripled in the past three years.
This lower footfall is pressuring rentals. Retail rents started falling at the beginning of 2020 and have been declining for seven straight quarters, according to URA data.
Despite this, Cushman & Wakefield’s Wong Xian Yang believes that a retail recovery could come in 2022.
“What will support rents further is a limited supply of new retail space," said Mr Wong, who is Cushman & Wakefield’s head of research in Singapore.
"New retail supply will only come in at about half a million sq ft per annum over the next few years. This compares to about 1 million sq ft from 2016 to 2019. Retail rents could recover by about 1 to 2 per cent, with suburban malls taking the lead.”
SUBURBAN AND CITY FRINGE MALLS
Suburban and city fringe malls have been more resilient during this current downturn.
URA data showed that median rentals for this region have decreased around 12 per cent since the fourth quarter of 2019, compared to a 16 per cent decline for malls in the Orchard area, and a 14 per cent decline for CBD malls.
At the same time, the vacancy rate at suburban retail spaces is also lower than that at the Orchard and downtown core areas.
"Suburban vacancy rates, they are at their lowest in about five years, at about 4.8 per cent as of the third quarter of 2021. This compares to about 8.1 per cent for islandwide vacancy. I mean, to give you some additional context, Orchard, and downtown core vacancy rates remain relatively high at about over 11 per cent as of third quarter of 2021," said Mr Wong.
The drivers are in place for suburban malls to continue to grow.
Once seen as just neighbourhood centres, they have transformed into destination shopping areas with luxury and international brands, said Mr Wong.
The continued adoption of remote working will also support footfall in suburban commercial areas.
However, Mr Wong said Orchard Road remains Singapore’s prime shopping destination, with large international brands still seeing it as the preferred location for their flagship outlets.
https://www.channelnewsasia.com/business/money-mind-retail-property-shopping-malls-consumers-online-2424566?cid=internal_sharetool_androidphone_02022022_cna
04 January 2022
Australian property prices surged 22pc last year, its biggest jump since the 1980s
Writer: Samuel Yang
Record low interest rates have driven Australian housing prices up 22 per cent last year — its sharpest rise in three decades.
The nation's median property price has risen for a 15th straight month. It comes after another 1 per cent gain in December, according to the latest figures from CoreLogic.
But prices have been rising at a slower pace each month, as property became increasingly unaffordable for first-home buyers.
Last month, Australia's median price rose by 1 per cent to 9,803.
Sydney had a small increase, by 0.3 per cent, while prices in Melbourne fell by 0.1 per cent in December.
"A surge in freshly advertised listings through December has been a key factor in taking some heat out of the Melbourne and Sydney housing markets," CoreLogic's research director Tim Lawless said.
Prices in Australia's two most expensive capitals were also affected by "demand headwinds caused by significant affordability constraints and negative interstate migration," he added.
While the pace of capital gains has been easing in Sydney, Melbourne and Perth, prices in other capital cities have lifted sharply.
Prices in Brisbane and Adelaide went up by 2.9 per and 2.6 per cent in December, showing a two-speed market emerging across capital cities.
For the second year in a row, prices in regional areas went up at a much faster rate, compared to the capital cities.
Since March 2020, housing values across regional Australia were up 32 per cent, compared to a 20 per cent lift in values seen across the combined capitals.
However, AMP chief economist Shane Oliver said "storm clouds are gathering for the property boom".
"We expect a further slowing in national home price gains ahead of a peak and then price falls from later this year and in 2023," he said in a note.
Mr Oliver added that reflected poor affordability, rising mortgage rates and higher interest rate buffers in Australia.
"It's unclear what impact the latest COVID wave, driven by the Omicron variant, will have on the property market. It will likely reduce buyer confidence, but it could also dampen listings," he said.
"The 25-year bull market in capital city property prices is likely to come under pressure in the years ahead, as the 30-year decline in mortgage rates is now likely over.
"The collapse in immigration over the last two years may help remove the chronic undersupply of Australian housing, and the work-from-home phenomenon may take pressure off capital city prices."
https://www.abc.net.au/news/2022-01-04/australia-house-prices-corelogic-data-december-2021/100737080
Record low interest rates have driven Australian housing prices up 22 per cent last year — its sharpest rise in three decades.
The nation's median property price has risen for a 15th straight month. It comes after another 1 per cent gain in December, according to the latest figures from CoreLogic.
But prices have been rising at a slower pace each month, as property became increasingly unaffordable for first-home buyers.
Last month, Australia's median price rose by 1 per cent to 9,803.
Sydney had a small increase, by 0.3 per cent, while prices in Melbourne fell by 0.1 per cent in December.
"A surge in freshly advertised listings through December has been a key factor in taking some heat out of the Melbourne and Sydney housing markets," CoreLogic's research director Tim Lawless said.
Prices in Australia's two most expensive capitals were also affected by "demand headwinds caused by significant affordability constraints and negative interstate migration," he added.
While the pace of capital gains has been easing in Sydney, Melbourne and Perth, prices in other capital cities have lifted sharply.
Prices in Brisbane and Adelaide went up by 2.9 per and 2.6 per cent in December, showing a two-speed market emerging across capital cities.
For the second year in a row, prices in regional areas went up at a much faster rate, compared to the capital cities.
Since March 2020, housing values across regional Australia were up 32 per cent, compared to a 20 per cent lift in values seen across the combined capitals.
However, AMP chief economist Shane Oliver said "storm clouds are gathering for the property boom".
"We expect a further slowing in national home price gains ahead of a peak and then price falls from later this year and in 2023," he said in a note.
Mr Oliver added that reflected poor affordability, rising mortgage rates and higher interest rate buffers in Australia.
"It's unclear what impact the latest COVID wave, driven by the Omicron variant, will have on the property market. It will likely reduce buyer confidence, but it could also dampen listings," he said.
"The 25-year bull market in capital city property prices is likely to come under pressure in the years ahead, as the 30-year decline in mortgage rates is now likely over.
"The collapse in immigration over the last two years may help remove the chronic undersupply of Australian housing, and the work-from-home phenomenon may take pressure off capital city prices."
https://www.abc.net.au/news/2022-01-04/australia-house-prices-corelogic-data-december-2021/100737080
23 December 2021
How to Buy Clothes and a House on the Metaverse, what to pay for?
Editorial Team, CNBC Indonesia
Jakarta, CNBC Indonesia - Metaverse continues to be a hot topic of conversation among world technology lovers. First, the metaverse can allow internet users to carry out virtual activities with a 3-dimensional view, including buying and owning land.
Metaverse was initially shocked by the Facebook company and it turned out that it was not only Mark Zuckerberg's company that started developing the virtual world of the metaverse. many other companies in this field are involved in developing the metaverse world.
How to Buy Clothes and Homes on the Metaverse
Even though you are currently in Indonesia, you can also buy clothes and houses through this metaverse. Users can shop for clothes and build mansions in the metaverse world.
Indeed, to make transactions in the metaverse is a little difficult. However, how to buy clothes and land or a house in this metaverse can be learned. Let's discuss them one by one.
1. Payment Transactions on Metaverse
In order to open an account and make transactions on the metaverse platform, users need to set up a crypto wallet that will hold all digital currencies. One of the popular wallets that is often used is the MetaMask wallet.
The MetaMask crypto wallet can be set up and downloaded via a mobile phone or a Google Chrome browser extension. With this wallet, you can carry out transactions such as exchanging money into cryptocurrencies with a debit card or credit card.
2. Types of Cryptos Metaverse Uses
The type of crypto used in this metaverse world depends on the platform you use to explore the new world. Each metaverse platform has its own crypto token which is used to make transactions. The types of cryptocurrencies commonly used on the Metaverse platform are as follows:
• MANA: The original cryptocurrency on the Decentraland Marketplace for buying and selling land, avatars, items such as clothes, accessories and interacting with other users. MANA will give you the ability to choose certain specs of the game, such as NFT auction activities and policy updates.
• SAND: This cryptocurrency is similar to MANA which can be used to buy and sell land, play games or conduct NFT auctions on the Sandbox Marketplace.
• AXS: The cryptocurrency used on the popular gaming platform Axis Infinity. It can be purchased through crypto exchanges and also players can earn AXS tokens by allowing digital pets (Axies), a unique NFT, to be used to compete in matches and tournaments.
3. How to Turn Money into Crypto.
There are several popular platforms for buying metaverse cryptocurrencies, including Binance, Gemini and Coinbase. This app will help you to convert fiat currency to metaverse crypto you need.
If you already have cryptocurrencies like Bitcoin and Ether, you can immediately exchange them for the metaverse token you need.
4. Buy Land or House in Decentraland
If you want to make a transaction to sell, buy or rent land and houses, please use the official Decentraland marketplace with these steps:
• Visit the Decentraland Marketplace.
• Then please select the available virtual land.
• You can see land prices through MANA tokens, availability information and owner's name.
• Please click buy to make a purchase transaction.
• Connect your wallet to the Decentraland Marketplace because the land will be sent to your wallet as NFT after the sale and purchase transaction is successful and complete. If you don't have one, please download your wallet on MetaMask and Trust Wallet.
• Confirm your virtual LAN.
• Confirm virtual LAND in your digital wallet.
• Make payments using cryptocurrencies.
5. Buy Land or Houses on Earth 2.io
Furthermore, you can make transactions for buying and selling land, houses and other goods using the Earth 2.io Marketplace in the following ways:
• Please visit Earth 2.io page and register.
• You can do a survey of the land to be purchased.
• If you have found it, please click buy land on the homepage.
• Determine the plot of land you want.
• The type of land plot you choose will show the number of plots that can be purchased per property with a maximum transaction of 750 plots with varying prices.
• If it is fixed, please pay for the land to be purchased by clicking Buy Now.
• Payment can be made using PayPal.
How? Did the information above about buying and selling land and goods make you interested in property investment in the metaverse world?
https://www.cnbcindonesia.com/tech/20211223134945-37-301474/cara-beli-baju-dan-rumah-di-metaverse-pakai-apa-bayarnya
Jakarta, CNBC Indonesia - Metaverse continues to be a hot topic of conversation among world technology lovers. First, the metaverse can allow internet users to carry out virtual activities with a 3-dimensional view, including buying and owning land.
Metaverse was initially shocked by the Facebook company and it turned out that it was not only Mark Zuckerberg's company that started developing the virtual world of the metaverse. many other companies in this field are involved in developing the metaverse world.
How to Buy Clothes and Homes on the Metaverse
Even though you are currently in Indonesia, you can also buy clothes and houses through this metaverse. Users can shop for clothes and build mansions in the metaverse world.
Indeed, to make transactions in the metaverse is a little difficult. However, how to buy clothes and land or a house in this metaverse can be learned. Let's discuss them one by one.
1. Payment Transactions on Metaverse
In order to open an account and make transactions on the metaverse platform, users need to set up a crypto wallet that will hold all digital currencies. One of the popular wallets that is often used is the MetaMask wallet.
The MetaMask crypto wallet can be set up and downloaded via a mobile phone or a Google Chrome browser extension. With this wallet, you can carry out transactions such as exchanging money into cryptocurrencies with a debit card or credit card.
2. Types of Cryptos Metaverse Uses
The type of crypto used in this metaverse world depends on the platform you use to explore the new world. Each metaverse platform has its own crypto token which is used to make transactions. The types of cryptocurrencies commonly used on the Metaverse platform are as follows:
• MANA: The original cryptocurrency on the Decentraland Marketplace for buying and selling land, avatars, items such as clothes, accessories and interacting with other users. MANA will give you the ability to choose certain specs of the game, such as NFT auction activities and policy updates.
• SAND: This cryptocurrency is similar to MANA which can be used to buy and sell land, play games or conduct NFT auctions on the Sandbox Marketplace.
• AXS: The cryptocurrency used on the popular gaming platform Axis Infinity. It can be purchased through crypto exchanges and also players can earn AXS tokens by allowing digital pets (Axies), a unique NFT, to be used to compete in matches and tournaments.
3. How to Turn Money into Crypto.
There are several popular platforms for buying metaverse cryptocurrencies, including Binance, Gemini and Coinbase. This app will help you to convert fiat currency to metaverse crypto you need.
If you already have cryptocurrencies like Bitcoin and Ether, you can immediately exchange them for the metaverse token you need.
4. Buy Land or House in Decentraland
If you want to make a transaction to sell, buy or rent land and houses, please use the official Decentraland marketplace with these steps:
• Visit the Decentraland Marketplace.
• Then please select the available virtual land.
• You can see land prices through MANA tokens, availability information and owner's name.
• Please click buy to make a purchase transaction.
• Connect your wallet to the Decentraland Marketplace because the land will be sent to your wallet as NFT after the sale and purchase transaction is successful and complete. If you don't have one, please download your wallet on MetaMask and Trust Wallet.
• Confirm your virtual LAN.
• Confirm virtual LAND in your digital wallet.
• Make payments using cryptocurrencies.
5. Buy Land or Houses on Earth 2.io
Furthermore, you can make transactions for buying and selling land, houses and other goods using the Earth 2.io Marketplace in the following ways:
• Please visit Earth 2.io page and register.
• You can do a survey of the land to be purchased.
• If you have found it, please click buy land on the homepage.
• Determine the plot of land you want.
• The type of land plot you choose will show the number of plots that can be purchased per property with a maximum transaction of 750 plots with varying prices.
• If it is fixed, please pay for the land to be purchased by clicking Buy Now.
• Payment can be made using PayPal.
How? Did the information above about buying and selling land and goods make you interested in property investment in the metaverse world?
https://www.cnbcindonesia.com/tech/20211223134945-37-301474/cara-beli-baju-dan-rumah-di-metaverse-pakai-apa-bayarnya
16 December 2021
Singapore announces new property cooling measures: Higher ABSD rates, tighter loan limits
Writer: Ng Hong Siang
The Government on Wednesday (Dec 15) announced a package of measures to cool the private residential and HDB resale markets.
The measures include raising Additional Buyer’s Stamp Duty (ABSD) rates, tightening the Total Debt Servicing Ratio (TDSR) threshold and lowering the Loan-to-Value (LTV) limit for loans from the Housing and Development Board (HDB), said the Ministry of Finance, the Ministry of National Development and the Monetary Authority of Singapore in a joint press release.
"The Government has been closely monitoring the property market for several quarters," said the statement, which was released to the media just before 11.40pm. It added that the private residential and HDB resale markets have been buoyant, despite the economic impact of COVID-19.
Private housing prices have risen by about 9 per cent since the first quarter of 2020.
HDB resale flat values have also risen by about 15 per cent since the same time, reversing a six-year decline, the authorities said.
"Even though House Price-to-Income ratios remain below their historical averages, there is clear upward momentum. Amid the low interest rate environment, transaction volumes in the private housing market and HDB resale market have also been high despite the COVID-19 situation.
"If left unchecked, prices could run ahead of economic fundamentals, and raise the risk of a destabilising correction later on. Borrowers would also be vulnerable to a possible rise in interest rates in the coming years."
To continue reading, please go to link below:
https://www.channelnewsasia.com/singapore/property-cooling-measures-absd-tdsr-ltv-loan-hdb-2382301
The Government on Wednesday (Dec 15) announced a package of measures to cool the private residential and HDB resale markets.
The measures include raising Additional Buyer’s Stamp Duty (ABSD) rates, tightening the Total Debt Servicing Ratio (TDSR) threshold and lowering the Loan-to-Value (LTV) limit for loans from the Housing and Development Board (HDB), said the Ministry of Finance, the Ministry of National Development and the Monetary Authority of Singapore in a joint press release.
"The Government has been closely monitoring the property market for several quarters," said the statement, which was released to the media just before 11.40pm. It added that the private residential and HDB resale markets have been buoyant, despite the economic impact of COVID-19.
Private housing prices have risen by about 9 per cent since the first quarter of 2020.
HDB resale flat values have also risen by about 15 per cent since the same time, reversing a six-year decline, the authorities said.
"Even though House Price-to-Income ratios remain below their historical averages, there is clear upward momentum. Amid the low interest rate environment, transaction volumes in the private housing market and HDB resale market have also been high despite the COVID-19 situation.
"If left unchecked, prices could run ahead of economic fundamentals, and raise the risk of a destabilising correction later on. Borrowers would also be vulnerable to a possible rise in interest rates in the coming years."
To continue reading, please go to link below:
https://www.channelnewsasia.com/singapore/property-cooling-measures-absd-tdsr-ltv-loan-hdb-2382301
09 December 2021
Australia's property prices smash records in 2021 with fastest growth on record
By: Stuart Marsh • Senior Producer
Australia's property market has surged through a record-breaking 12 months as prices rose at the fastest year-on-year rate in history.
Domain's End of Year Wrap for 2021 has revealed that in 2021, Aussie house prices rose an eye-watering 21.9 per cent, the fastest annual rate of growth on record.
More than 446,000 houses were sold in 2021 and more than 144,000 units were sold, both remaining on the market for the shortest time in more than half a decade.
Domain's Chief of Research and Economics Dr Nicola Powell said 2021 will be remembered as the year that radically defined the way Australians use – and prioritise – what they want in their properties.
"The challenge of grappling with a global pandemic shifted buyer priorities, placing a greater emphasis on the space in which we reside, this spurred purchases and brought forward decisions," Dr Powell said.
"Ultra-low home loan rates, government stimulus, rebounding economic conditions, returning expats and improved household savings became the perfect combination of factors for extraordinary price growth and activity in 2021."
The highlight numbers of 2021 are nothing short of staggering.
The most expensive sale of the year was the penthouse of 163 Castlereagh Street in Sydney, which sold for an eye-watering million.
Three of Australia's capital cities in Sydney, Melbourne and Canberra now boast a median house price of over million, and the median capital city price nationwide is also closing in on seven figures.
According to Domain, there is hope for buyers desperate to enter the market: thanks to booming conditions, many homeowners erring about selling their home are being enticed by record prices.
"Sellers are now being enticed by record prices while tighter lending and affordability constraints have put a slight sting in buyer demand," the report reads.
"That means the year is closing in a different position to the start, with new listings coming to market quicker than they are being sold.
"While it remains a sellers' market, slowly the market is starting to tip in buyers' favour."
Looking ahead, 2022 is tipped to remain positive for homeowners while not replicating the near-insatiable growth of 2021.
"Buying opportunities are looking brighter for 2022. With new listings to remain strong, particularly over late summer and early Autumn," Domain notes.
"This will continue to bring the total homes for sale into a 'normal realm'.
"This additional choice, as well as tighter lending reducing buyers' leverage and wages growth not keeping pace with 2021 price growth, prices won't rise at the same sweltering pace as in 2021."
https://www.9news.com.au/national/australia-property-prices-smash-records-in-2021-with-fastest-growth-in-history/35997f0c-911c-43e5-a8da-9985fa653439
Australia's property market has surged through a record-breaking 12 months as prices rose at the fastest year-on-year rate in history.
Domain's End of Year Wrap for 2021 has revealed that in 2021, Aussie house prices rose an eye-watering 21.9 per cent, the fastest annual rate of growth on record.
More than 446,000 houses were sold in 2021 and more than 144,000 units were sold, both remaining on the market for the shortest time in more than half a decade.
Domain's Chief of Research and Economics Dr Nicola Powell said 2021 will be remembered as the year that radically defined the way Australians use – and prioritise – what they want in their properties.
"The challenge of grappling with a global pandemic shifted buyer priorities, placing a greater emphasis on the space in which we reside, this spurred purchases and brought forward decisions," Dr Powell said.
"Ultra-low home loan rates, government stimulus, rebounding economic conditions, returning expats and improved household savings became the perfect combination of factors for extraordinary price growth and activity in 2021."
The highlight numbers of 2021 are nothing short of staggering.
The most expensive sale of the year was the penthouse of 163 Castlereagh Street in Sydney, which sold for an eye-watering million.
Three of Australia's capital cities in Sydney, Melbourne and Canberra now boast a median house price of over million, and the median capital city price nationwide is also closing in on seven figures.
According to Domain, there is hope for buyers desperate to enter the market: thanks to booming conditions, many homeowners erring about selling their home are being enticed by record prices.
"Sellers are now being enticed by record prices while tighter lending and affordability constraints have put a slight sting in buyer demand," the report reads.
"That means the year is closing in a different position to the start, with new listings coming to market quicker than they are being sold.
"While it remains a sellers' market, slowly the market is starting to tip in buyers' favour."
Looking ahead, 2022 is tipped to remain positive for homeowners while not replicating the near-insatiable growth of 2021.
"Buying opportunities are looking brighter for 2022. With new listings to remain strong, particularly over late summer and early Autumn," Domain notes.
"This will continue to bring the total homes for sale into a 'normal realm'.
"This additional choice, as well as tighter lending reducing buyers' leverage and wages growth not keeping pace with 2021 price growth, prices won't rise at the same sweltering pace as in 2021."
https://www.9news.com.au/national/australia-property-prices-smash-records-in-2021-with-fastest-growth-in-history/35997f0c-911c-43e5-a8da-9985fa653439