New data shows auction clearance rates are at their lowest levels since 2012... Yen proves top haven role as Aussie suffers worst start to year...
Auction clearance rates drop as housing markets cool
New data shows auction clearance rates are at their lowest level since 2012, according to the Australian Financial Review.
The combined capital city auction clearance rate fell to 62.1 per cent for the December quarter of 2015, from a rate of 73.4 per cent at the start of the quarter, Corelogic RP Data shows.
Sydney's auction clearance rates fell below 60 per cent to 59.8 per cent from 76.3 per cent at the start of the quarter.
"Inner Western Sydney has been a popular location for many buyers, generally showing lower price points than the Eastern Suburbs and North Shore," Corelogic head of research Tim Lawless said.
"The high success rate of auctions at Drummoyne reflects a very competitive market where the auction process is working very well. With many active buyers and a relatively small number of homes for sale, the competitive tension is likely one of the key factors driving such a high clearance rate over the quarter."
The link between personality and performance
Yen proves top haven role as Aussie suffers worst start to year
(Bloomberg) -- If the first week of 2016 has shown one thing, it’s that when it comes to safe havens the yenis still No. 1.
Investor confusion over China’s monetary and stock-market policies have sent Japan’s currency surging to its strongest level since August versus the dollar. The central bank of the world’s second-largest economy cut its yuan reference rate by the most since August, before speculation it had intervened to prop up the exchange rate prompted a rally.
Australia, New Zealand and Canada’s currencies are among those bearing the brunt of the disruptions in China, a key buyer of those nations’ commodity exports, with the Aussie suffering the worst start to a year since it began trading freely three decades ago.
“The yen is the pre-eminent risk-adverse currency, and the euro is not far behind,” Kit Juckes, global strategist at Societe Generale SA said in an interview on Bloomberg Television’s “Surveillance” with Francine Lacqua and Tom Keene. “Both are places where capital is exported to invest in attractive opportunities around the world. When things go badly wrong, that’s when it comes back.”
Japan’s currency advanced 0.7 percent to 117.60 to the dollar at 8:01 a.m. New York time, after touching 117.33, the strongest level since August. It was little changed at 127.73 per euro, while Europe’s shared currency jumped 0.8 percent to $1.0864.
The Aussie tumbled 1.2 percent to 69.89 U.S. cents, after falling to 69.81, its lowest level since September. It has fallen more than 4 percent since Dec. 31 in the worst start to a year since currency controls were scrapped in December 1983, according to data compiled by Bloomberg.
BDM in the spotlight: Adrian Lee
New data shows auction clearance rates are at their lowest level since 2012, according to the Australian Financial Review.
The combined capital city auction clearance rate fell to 62.1 per cent for the December quarter of 2015, from a rate of 73.4 per cent at the start of the quarter, Corelogic RP Data shows.
Sydney's auction clearance rates fell below 60 per cent to 59.8 per cent from 76.3 per cent at the start of the quarter.
"Inner Western Sydney has been a popular location for many buyers, generally showing lower price points than the Eastern Suburbs and North Shore," Corelogic head of research Tim Lawless said.
"The high success rate of auctions at Drummoyne reflects a very competitive market where the auction process is working very well. With many active buyers and a relatively small number of homes for sale, the competitive tension is likely one of the key factors driving such a high clearance rate over the quarter."
The link between personality and performance
Yen proves top haven role as Aussie suffers worst start to year
(Bloomberg) -- If the first week of 2016 has shown one thing, it’s that when it comes to safe havens the yenis still No. 1.
Investor confusion over China’s monetary and stock-market policies have sent Japan’s currency surging to its strongest level since August versus the dollar. The central bank of the world’s second-largest economy cut its yuan reference rate by the most since August, before speculation it had intervened to prop up the exchange rate prompted a rally.
Australia, New Zealand and Canada’s currencies are among those bearing the brunt of the disruptions in China, a key buyer of those nations’ commodity exports, with the Aussie suffering the worst start to a year since it began trading freely three decades ago.
“The yen is the pre-eminent risk-adverse currency, and the euro is not far behind,” Kit Juckes, global strategist at Societe Generale SA said in an interview on Bloomberg Television’s “Surveillance” with Francine Lacqua and Tom Keene. “Both are places where capital is exported to invest in attractive opportunities around the world. When things go badly wrong, that’s when it comes back.”
Japan’s currency advanced 0.7 percent to 117.60 to the dollar at 8:01 a.m. New York time, after touching 117.33, the strongest level since August. It was little changed at 127.73 per euro, while Europe’s shared currency jumped 0.8 percent to $1.0864.
The Aussie tumbled 1.2 percent to 69.89 U.S. cents, after falling to 69.81, its lowest level since September. It has fallen more than 4 percent since Dec. 31 in the worst start to a year since currency controls were scrapped in December 1983, according to data compiled by Bloomberg.
BDM in the spotlight: Adrian Lee
