News Archive
01 June 2009
A month free when landlord defaults
Tenants whose homes are repossessed because their landlord defaulted on loan repayments will have 30 days rent-free to find a new place to live under proposed changes to tenancy laws. The State Government will move to amend the Residential Tenancy Act this week, so that tenants will be given a month's notice to leave rather than being told to vacate their home as soon as a repossession order is... read news item »
30 May 2009
House price rise bucks global trend
The value of Australian homes increased in the first quarter, bucking a global trend downwards, according to a report issued today. House and flat prices in Australia increased in value by 1.6% in the first three months of the year, according to RP Data-Rismark, helped by a scarcity of supply, lower interest rates and incentives to first-home buyers. The slight recovery in Australia "has ... read news item »
29 May 2009
House prices bounce back
Australian home prices have rebounded this year, almost erasing falls recorded for all of 2008 in just four months, an industry report says. Home prices in capital cities rose 2.8 per cent in the four months to April, according to real estate research firm RP Data, "virtually wiping out" 2008's 3 per cent fall. Homes in every capital, except Perth, rose in value. Median home prices i... read news item »
27 May 2009
Credit relief for borrowers who lose their jobs
The Federal Government will make it easier for people who lose their jobs to hold on to their homes, as part of a wide-ranging overhaul of consumer credit laws. The move comes as Treasurer Wayne Swan conceded that Australia could be heading into a much longer recession, running through 2009, if the IMF's "bleak" forecasts are realised. "The length of it (the recession in Australi... read news item »
23 May 2009
Contract or con trick?
Done deals could be a burden for years. There's a minefield for new owners in strataland that no one will warn you about and the powers that be will do little or nothing to help you when you get caught out. It starts at the first annual meeting when new owners are presented with contracts needed to run the building in its first few months. The developer can put anyone in any position they want... read news item »
20 May 2009
Home affordability 'dramatically better'
A typical home is worth a little over four times the average household's annual after-tax income, down from almost six times five years ago, Reserve Bank figures show. Strong growth in incomes and a period of more sluggish median house price growth are working in the interests of would-be home buyers. "This is a dramatically better picture on Australia's housing affordability," the ch... read news item »
18 May 2009
Why renting rocks ... and will continue to
Am I right in thinking there is a whiff of renter disdain surrounding this blog? As a former home owner that has been financially ravaged by divorce, I rent while I decide whether and what to buy again. For me, there is much to be gained from the freedom, flexibility and tax-deductibility of renting ( I work from a home office, so a portion of my rent is an expense to my business). I rent a ho... read news item »
13 May 2009
The Winners and Losers of the 2009-10 Budget
There weren't too many surprises in Wayne Swan's second Federal Budget speech. It seems to be hailed as the 'budget of spin' as Swan glossed over the deficit specifics focusing rather on his 'nation building' initiatives. We take a closer looks at how the budget will affect you. Are you a winner or a loser? THE WINNERS Retirees - Pensioners are the budget's biggest winners. They poc... read news item »
12 May 2009
Six more months for first home grant
Those buying their first home have another six months to locate their dream dwelling and still benefit from last year's boost to the first home owners grant scheme. The first home owners grant was lifted from $7,000 to $14,000 for existing dwellings and to $21,000 for new homes as part of the $10.4 billion stimulus package unveiled by the government in October last year. The more generous schem... read news item »
08 May 2009
RBA cuts GDP forecasts, signals smaller rate cuts
The Reserve Bank of Australia has cut its forecasts for economic growth, saying any future interest rate cuts may be smaller and less frequent, ahead of an expected recovery. The central bank said the need for further cuts will depend on economic and financial developments, amid recent signs that a distressed global economy could be turning for the better. "With interest rates at histori... read news item »